DEMKO: 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.
DEMKO
Largest movements
- Cash +€236,713
up €236,713 (+47.3%), from €500,426 to €737,139
mainly Net result for the year (+€228,763) and Trade debts (+€59,823)
- Tangible fixed assets -€34,372
down €34,372 (-18.6%), from €184,514 to €150,143
of which Furniture and vehicles: -€17,312
- Reserves +€208,631
up €208,631 (+26.8%), from €779,176 to €987,808
- Trade debts +€59,823
up €59,823 (+1047.4%), from €5,711 to €65,534
- Tax, wage and social debts -€31,498
down €31,498 (-79.6%), from €39,567 to €8,069
- Debts after one year -€17,755
down €17,755 (-15.7%), from €113,165 to €95,411
- Gross operating margin -€119,375
down €119,375 (-23.8%), from €501,847 to €382,472
- Taxes -€33,922
down €33,922 (-22.8%), from €148,837 to €114,915
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 | €983,989 | €1,196,154 | +€212,165 | +21.6% |
| Fixed assets | 21/28 | €184,610 | €150,238 | -€34,372 | -18.6% |
| Tangible fixed assets | 22/27 | €184,514 | €150,143 | -€34,372 | -18.6% |
| Land and buildings | 22 | €122,425 | €113,296 | -€9,129 | -7.5% |
| Plant, machinery and equipment | 23 | €8,167 | €236 | -€7,931 | -97.1% |
| Furniture and vehicles | 24 | €53,922 | €36,610 | -€17,312 | -32.1% |
| Financial fixed assets | 28 | €96 | €96 | = | 0.0% |
| Current assets | 29/58 | €799,379 | €1,045,915 | +€246,536 | +30.8% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €298,632 | €308,274 | +€9,642 | +3.2% |
| Trade receivables | 40 | €298,632 | €215,700 | -€82,933 | -27.8% |
| Other amounts receivable | 41 | €0 | €92,574 | +€92,574 | |
| Cash at bank and in hand | 54/58 | €500,426 | €737,139 | +€236,713 | +47.3% |
| Deferred charges and accrued income | 490/1 | €321 | €502 | +€181 | +56.5% |
| Total equity and liabilities | 10/49 | €983,989 | €1,196,154 | +€212,165 | +21.6% |
| Equity | 10/15 | €790,755 | €999,386 | +€208,631 | +26.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €779,176 | €987,808 | +€208,631 | +26.8% |
| Distributable reserves | 133 | €779,176 | €987,808 | +€208,631 | +26.8% |
| Profit (loss) carried forward | 14 | €10,578 | €10,578 | = | 0.0% |
| Provisions and deferred taxes | 16 | €9,000 | €9,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €9,000 | €9,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €9,000 | €9,000 | = | 0.0% |
| Amounts payable | 17/49 | €184,234 | €187,768 | +€3,534 | +1.9% |
| Amounts payable after more than one year | 17 | €113,165 | €95,411 | -€17,755 | -15.7% |
| Financial debts | 170/4 | €113,165 | €95,411 | -€17,755 | -15.7% |
| Amounts payable within one year | 42/48 | €70,069 | €91,357 | +€21,288 | +30.4% |
| Current portion of amounts payable after more than one year | 42 | €23,403 | €17,755 | -€5,648 | -24.1% |
| Trade debts | 44 | €5,711 | €65,534 | +€59,823 | +1047.4% |
| Suppliers | 440/4 | €5,711 | €65,534 | +€59,823 | +1047.4% |
| Taxes, remuneration and social security | 45 | €39,567 | €8,069 | -€31,498 | -79.6% |
| Taxes | 450/3 | €39,567 | €8,069 | -€31,498 | -79.6% |
| Other amounts payable | 47/48 | €1,388 | €0 | -€1,388 | -100.0% |
| Accrued charges and deferred income | 492/3 | €1,000 | €1,000 | = | 0.0% |
| Non-recurring operating income | 76A | €757 | €0 | -€757 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,557 | €34,372 | -€2,185 | -6.0% |
| Other operating charges | 640/8 | €3,134 | €1,856 | -€1,278 | -40.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €501,847 | €382,472 | -€119,375 | -23.8% |
| Operating profit (loss) | 9901 | €462,156 | €346,244 | -€115,913 | -25.1% |
| Financial income | 75/76B | €204 | €4,019 | +€3,816 | +1874.6% |
| Recurring financial income | 75 | €204 | €4,019 | +€3,816 | +1874.6% |
| Financial charges | 65/66B | €5,790 | €6,585 | +€795 | +13.7% |
| Recurring financial charges | 65 | €5,790 | €6,585 | +€795 | +13.7% |
| Profit (loss) for the period before taxes | 9903 | €456,570 | €343,678 | -€112,892 | -24.7% |
| Income taxes | 67/77 | €148,837 | €114,915 | -€33,922 | -22.8% |
| Profit (loss) for the period | 9904 | €307,733 | €228,763 | -€78,970 | -25.7% |
| Profit (loss) for the period to be appropriated | 9905 | €307,733 | €228,763 | -€78,970 | -25.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.