DEMOCO: 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.
What changed
DEMOCO
NACE 41.001, General construction of residential buildings
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€3.2m
2023 · -€5.4m+€8.6m
Equity
€12.9m
2023 · €9.7m+€3.2m
Cash
€1.0m
2023 · €947,079+€69,342
Balance sheet total
€70.8m
2023 · €81.3m-€10.5m
Largest movements
Assets
- Receivables within one year -€9.9m
down €9.9m (-15.0%), from €66.1m to €56.2m
of which Trade receivables: -€13.0m
- Financial fixed assets +€2.1m
up €2.1m (+120.5%), from €1.8m to €3.9m
of which Other financial fixed assets: +€2.1m
- Stocks and contracts -€2.1m
down €2.1m (-25.2%), from €8.4m to €6.3m
of which Contracts in progress: -€2.1m
Equity and liabilities
- Advances received -€12.0m
down €12.0m (-69.1%), from €17.4m to €5.4m
- Trade debts -€4.3m
down €4.3m (-9.4%), from €45.7m to €41.4m
- Profit (loss) carried forward +€3.2m
up €3.2m (+137.0%), from €2.3m to €5.5m
- Tax, wage and social debts +€1.1m
up €1.1m (+33.4%), from €3.3m to €4.3m
of which Taxes: +€918,240
- Provisions +€869,272
up €869,272 (+556.7%), from €156,161 to €1.0m
Income statement
- Goods and materials -€25.1m
down €25.1m (-12.7%), from €196.8m to €171.7m
of which Purchases: -€25.2m
- Turnover -€5.8m
down €5.8m (-2.6%), from €224.9m to €219.0m
- Provisions +€5.5m
up €5.5m, from -€4.6m to €869,272
- Services and other goods +€4.3m
up €4.3m (+28.8%), from €14.9m to €19.2m
From the 2023 result to the 2024 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.
Result 2023
-€5.4m
Turnover
-€5.8m
Other operating income
-€141,844
Goods and materials
+€25.1m
Services and other goods
-€4.3m
Staff costs
+€601,679
Depreciation
+€318,587
Write-downs
+€800,878
Provisions
-€5.5m
Other operating charges
+€7,582
Other operating items
-€3.8m
Financial income
+€170,201
Financial charges
+€1.8m
Taxes
-€636,090
Result 2024
€3.2m
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€3.0m
Investment
-€2.9m
Financing
€0
Cash 2023
€947,079
From operations (derived)
+€3.0m
Net result for the year
+€3.2m
Depreciation
+€1.5m
Stocks and contracts
+€2.1m
Receivables within one year
+€9.9m
Deferred charges and accrued income
-€21,636
Provisions
+€869,272
Trade debts
-€4.3m
Tax, wage and social debts
+€1.1m
Advances received
-€12.0m
Other debts
+€319,706
Accrued charges and deferred income
+€330,276
Investment (derived)
-€2.9m
Investment in fixed assets (net)
-€2.9m
Current investments
-€12,848
Cash 2024
€1.0m
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €81,305,424 | €70,775,441 | -€10.5m | -13.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €4,818,649 | €6,230,065 | +€1.4m | +29.3% |
| Intangible fixed assets | 21 | €63,556 | €60,962 | -€2,594 | -4.1% |
| Tangible fixed assets | 22/27 | €2,976,389 | €2,247,101 | -€729,288 | -24.5% |
| Land and buildings | 22 | €718,400 | €654,250 | -€64,150 | -8.9% |
| Plant, machinery and equipment | 23 | €1,734,568 | €1,317,847 | -€416,721 | -24.0% |
| Furniture and vehicles | 24 | €479,645 | €275,004 | -€204,641 | -42.7% |
| Assets under construction and advance payments | 27 | €43,776 | - | -€43,776 | |
| Financial fixed assets | 28 | €1,778,703 | €3,922,002 | +€2.1m | +120.5% |
| Affiliated companies | 280/1 | €768,876 | €768,876 | = | 0.0% |
| Participating interests | 280 | €448,385 | €448,385 | = | 0.0% |
| Amounts receivable | 281 | €320,491 | €320,491 | = | 0.0% |
| Other financial fixed assets | 284/8 | €1,009,827 | €3,153,126 | +€2.1m | +212.2% |
| Shares | 284 | €130,480 | €130,480 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €879,347 | €3,022,646 | +€2.1m | +243.7% |
| Current assets | 29/58 | €76,486,775 | €64,545,376 | -€11.9m | -15.6% |
| Amounts receivable after more than one year | 29 | €109,027 | €109,027 | = | 0.0% |
| Other amounts receivable | 291 | €109,027 | €109,027 | = | 0.0% |
| Stocks and contracts in progress | 3 | €8,415,786 | €6,295,580 | -€2.1m | -25.2% |
| Stocks | 30/36 | €650,847 | €605,818 | -€45,029 | -6.9% |
| Raw materials and consumables | 30/31 | €607,447 | €562,418 | -€45,029 | -7.4% |
| Property held for sale | 35 | €43,400 | €43,400 | = | 0.0% |
| Contracts in progress | 37 | €7,764,939 | €5,689,761 | -€2.1m | -26.7% |
| Amounts receivable within one year | 40/41 | €66,091,459 | €56,166,439 | -€9.9m | -15.0% |
| Trade receivables | 40 | €54,741,322 | €41,770,623 | -€13.0m | -23.7% |
| Other amounts receivable | 41 | €11,350,137 | €14,395,817 | +€3.0m | +26.8% |
| Current investments | 50/53 | €575,000 | €587,848 | +€12,848 | +2.2% |
| Other investments | 51/53 | €575,000 | €587,848 | +€12,848 | +2.2% |
| Cash at bank and in hand | 54/58 | €947,079 | €1,016,421 | +€69,342 | +7.3% |
| Deferred charges and accrued income | 490/1 | €348,425 | €370,061 | +€21,636 | +6.2% |
| Total equity and liabilities | 10/49 | €81,305,424 | €70,775,441 | -€10.5m | -13.0% |
| Equity | 10/15 | €9,670,278 | €12,859,012 | +€3.2m | +33.0% |
| Contributions | 10/11 | €5,000,000 | €5,000,000 | = | 0.0% |
| Capital | 10 | €5,000,000 | €5,000,000 | = | 0.0% |
| Issued capital | 100 | €5,000,000 | €5,000,000 | = | 0.0% |
| Reserves | 13 | €2,342,730 | €2,342,730 | = | 0.0% |
| Non-distributable reserves | 130/1 | €523,748 | €523,748 | = | 0.0% |
| Legal reserve | 130 | €500,000 | €500,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €23,748 | €23,748 | = | 0.0% |
| Tax-exempt reserves | 132 | €732,204 | €732,204 | = | 0.0% |
| Distributable reserves | 133 | €1,086,778 | €1,086,778 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,327,548 | €5,516,282 | +€3.2m | +137.0% |
| Provisions and deferred taxes | 16 | €156,161 | €1,025,433 | +€869,272 | +556.7% |
| Provisions for liabilities and charges | 160/5 | €156,161 | €1,025,433 | +€869,272 | +556.7% |
| Other liabilities and charges | 164/5 | €156,161 | €1,025,433 | +€869,272 | +556.7% |
| Amounts payable | 17/49 | €71,478,984 | €56,890,995 | -€14.6m | -20.4% |
| Amounts payable within one year | 42/48 | €70,956,336 | €56,038,071 | -€14.9m | -21.0% |
| Trade debts | 44 | €45,682,789 | €41,405,358 | -€4.3m | -9.4% |
| Suppliers | 440/4 | €45,682,789 | €41,405,358 | -€4.3m | -9.4% |
| Advances received on contracts in progress | 46 | €17,432,888 | €5,384,310 | -€12.0m | -69.1% |
| Taxes, remuneration and social security | 45 | €3,253,068 | €4,341,106 | +€1.1m | +33.4% |
| Taxes | 450/3 | €556,606 | €1,474,846 | +€918,240 | +165.0% |
| Remuneration and social security | 454/9 | €2,696,462 | €2,866,260 | +€169,798 | +6.3% |
| Other amounts payable | 47/48 | €4,587,591 | €4,907,297 | +€319,706 | +7.0% |
| Accrued charges and deferred income | 492/3 | €522,648 | €852,924 | +€330,276 | +63.2% |
| Operating income | 70/76A | €230,107,942 | €220,356,055 | -€9.8m | -4.2% |
| Turnover | 70 | €224,878,579 | €219,045,294 | -€5.8m | -2.6% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €1,620,745 | -€2,075,177 | -€3.7m | |
| Other operating income | 74 | €3,194,604 | €3,052,760 | -€141,844 | -4.4% |
| Non-recurring operating income | 76A | €414,015 | €333,179 | -€80,836 | -19.5% |
| Operating charges | 60/66A | €233,313,627 | €216,250,861 | -€17.1m | -7.3% |
| Goods for resale, raw materials and consumables | 60 | €196,827,709 | €171,734,102 | -€25.1m | -12.7% |
| Purchases | 600/8 | €196,883,067 | €171,689,072 | -€25.2m | -12.8% |
| Change in stocks: decrease (increase) | 609 | -€55,358 | €45,029 | +€100,387 | |
| Services and other goods | 61 | €14,932,089 | €19,229,856 | +€4.3m | +28.8% |
| Remuneration, social security and pensions | 62 | €23,121,204 | €22,519,525 | -€601,679 | -2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,799,556 | €1,480,969 | -€318,587 | -17.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €800,878 | - | -€800,878 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€4,592,465 | €869,272 | +€5.5m | |
| Other operating charges | 640/8 | €424,124 | €416,543 | -€7,582 | -1.8% |
| Non-recurring operating charges | 66A | €532 | €595 | +€63 | +11.8% |
| Operating profit (loss) | 9901 | -€3,205,685 | €4,105,195 | +€7.3m | |
| Financial income | 75/76B | €388,650 | €558,851 | +€170,201 | +43.8% |
| Recurring financial income | 75 | €388,131 | €558,851 | +€170,720 | +44.0% |
| Income from financial fixed assets | 750 | €35,953 | €183,206 | +€147,253 | +409.6% |
| Income from current assets | 751 | €253,877 | €232,839 | -€21,038 | -8.3% |
| Other financial income | 752/9 | €98,301 | €142,806 | +€44,505 | +45.3% |
| Non-recurring financial income | 76B | €519 | - | -€519 | |
| Financial charges | 65/66B | €2,576,511 | €797,784 | -€1.8m | -69.0% |
| Recurring financial charges | 65 | €642,498 | €797,784 | +€155,285 | +24.2% |
| Debt charges | 650 | €256,128 | €410,111 | +€153,983 | +60.1% |
| Other financial charges | 652/9 | €386,370 | €387,672 | +€1,303 | +0.3% |
| Non-recurring financial charges | 66B | €1,934,013 | - | -€1.9m | |
| Profit (loss) for the period before taxes | 9903 | -€5,393,546 | €3,866,262 | +€9.3m | |
| Income taxes | 67/77 | €41,438 | €677,529 | +€636,090 | +1535.0% |
| Taxes | 670/3 | €43,772 | €677,589 | +€633,817 | +1448.0% |
| Tax adjustments and reversals of tax provisions | 77 | €2,333 | €60 | -€2,273 | -97.4% |
| Profit (loss) for the period | 9904 | -€5,434,984 | €3,188,734 | +€8.6m | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,434,984 | €3,188,734 | +€8.6m |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.