DEMKEN: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
DEMKEN
Largest movements
- Cash +€119,641
up €119,641 (+167.9%), from €71,278 to €190,919
mainly Current investments (+€100,000) and Depreciation (+€46,488)
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Receivables within one year -€21,924
down €21,924 (-23.1%), from €95,035 to €73,111
of which Trade receivables: -€18,160
- Tangible fixed assets -€16,381
down €16,381 (-4.0%), from €413,314 to €396,933
of which Land and buildings: -€21,200
- Debts after one year -€31,805
down €31,805 (-10.8%), from €293,631 to €261,826
- Trade debts -€24,883
down €24,883 (-93.6%), from €26,581 to €1,698
- Profit (loss) carried forward +€18,675
up €18,675 (+19.0%), from -€98,541 to -€79,866
- Other debts +€16,408
up €16,408 (+10.1%), from €163,181 to €179,589
- Gross operating margin -€7,980
down €7,980 (-7.6%), from €104,896 to €96,916
- Other operating charges -€6,587
down €6,587 (-62.5%), from €10,544 to €3,956
- Taxes +€2,666
up €2,666 (+39.1%), from €6,810 to €9,476
- Depreciation +€2,048
up €2,048 (+4.6%), from €44,440 to €46,488
- Staff costs -€1,819
down €1,819 (-34.4%), from €5,285 to €3,466
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €680,078 | €661,263 | -€18,815 | -2.8% |
| Fixed assets | 21/28 | €413,614 | €397,233 | -€16,381 | -4.0% |
| Tangible fixed assets | 22/27 | €413,314 | €396,933 | -€16,381 | -4.0% |
| Land and buildings | 22 | €361,976 | €340,776 | -€21,200 | -5.9% |
| Plant, machinery and equipment | 23 | €13,654 | €6,781 | -€6,873 | -50.3% |
| Furniture and vehicles | 24 | €4,914 | €9,325 | +€4,411 | +89.8% |
| Other tangible fixed assets | 26 | €32,770 | €40,051 | +€7,281 | +22.2% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €266,463 | €264,030 | -€2,434 | -0.9% |
| Amounts receivable within one year | 40/41 | €95,035 | €73,111 | -€21,924 | -23.1% |
| Trade receivables | 40 | €86,841 | €68,681 | -€18,160 | -20.9% |
| Other amounts receivable | 41 | €8,194 | €4,430 | -€3,764 | -45.9% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €71,278 | €190,919 | +€119,641 | +167.9% |
| Deferred charges and accrued income | 490/1 | €151 | - | -€151 | |
| Total equity and liabilities | 10/49 | €680,078 | €661,263 | -€18,815 | -2.8% |
| Equity | 10/15 | €142,169 | €160,844 | +€18,675 | +13.1% |
| Contributions | 10/11 | €92,960 | €92,960 | = | 0.0% |
| Reserves | 13 | €147,750 | €147,750 | = | 0.0% |
| Distributable reserves | 133 | €147,750 | €147,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€98,541 | -€79,866 | +€18,675 | +19.0% |
| Amounts payable | 17/49 | €537,908 | €500,418 | -€37,490 | -7.0% |
| Amounts payable after more than one year | 17 | €293,631 | €261,826 | -€31,805 | -10.8% |
| Financial debts | 170/4 | €293,631 | €261,826 | -€31,805 | -10.8% |
| Amounts payable within one year | 42/48 | €244,278 | €238,592 | -€5,685 | -2.3% |
| Current portion of amounts payable after more than one year | 42 | €31,705 | €31,805 | +€100 | +0.3% |
| Trade debts | 44 | €26,581 | €1,698 | -€24,883 | -93.6% |
| Suppliers | 440/4 | €26,581 | €1,698 | -€24,883 | -93.6% |
| Taxes, remuneration and social security | 45 | €22,810 | €25,500 | +€2,690 | +11.8% |
| Taxes | 450/3 | €21,844 | €25,055 | +€3,212 | +14.7% |
| Remuneration and social security | 454/9 | €966 | €445 | -€522 | -54.0% |
| Other amounts payable | 47/48 | €163,181 | €179,589 | +€16,408 | +10.1% |
| Remuneration, social security and pensions | 62 | €5,285 | €3,466 | -€1,819 | -34.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,440 | €46,488 | +€2,048 | +4.6% |
| Other operating charges | 640/8 | €10,544 | €3,956 | -€6,587 | -62.5% |
| Gross operating margin | 9900 | €104,896 | €96,916 | -€7,980 | -7.6% |
| Operating profit (loss) | 9901 | €44,628 | €43,006 | -€1,622 | -3.6% |
| Financial income | 75/76B | €1,748 | €807 | -€941 | -53.8% |
| Recurring financial income | 75 | €1,748 | €807 | -€941 | -53.8% |
| Financial charges | 65/66B | €15,977 | €15,663 | -€314 | -2.0% |
| Recurring financial charges | 65 | €15,977 | €15,663 | -€314 | -2.0% |
| Profit (loss) for the period before taxes | 9903 | €30,399 | €28,150 | -€2,248 | -7.4% |
| Income taxes | 67/77 | €6,810 | €9,476 | +€2,666 | +39.1% |
| Profit (loss) for the period | 9904 | €23,589 | €18,675 | -€4,914 | -20.8% |
| Profit (loss) for the period to be appropriated | 9905 | €23,589 | €18,675 | -€4,914 | -20.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.