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.
DEMOCO
Largest movements
- Receivables within one year +€90,604
up €90,604 (+72.5%), from €124,936 to €215,541
of which Other amounts receivable: +€55,198
- Reserves +€115,752
up €115,752 (+31.8%), from €363,568 to €479,320
of which Distributable reserves: +€119,496
- Debts after one year -€47,862
down €47,862 (-8.4%), from €568,127 to €520,265
- Current portion of long-term debt +€21,872
up €21,872 (+38.5%), from €56,864 to €78,736
- Gross operating margin +€38,866
up €38,866 (+19.8%), from €196,153 to €235,020
- Financial charges +€14,134
up €14,134 (+113.1%), from €12,493 to €26,627
- Taxes +€2,675
up €2,675 (+5.7%), from €46,911 to €49,586
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 | €1,062,242 | €1,152,163 | +€89,921 | +8.5% |
| Fixed assets | 21/28 | €921,610 | €916,600 | -€5,010 | -0.5% |
| Tangible fixed assets | 22/27 | €921,610 | €916,600 | -€5,010 | -0.5% |
| Land and buildings | 22 | €896,512 | €899,034 | +€2,522 | +0.3% |
| Plant, machinery and equipment | 23 | €18,687 | €12,719 | -€5,968 | -31.9% |
| Furniture and vehicles | 24 | €6,411 | €4,847 | -€1,564 | -24.4% |
| Current assets | 29/58 | €140,632 | €235,563 | +€94,930 | +67.5% |
| Amounts receivable within one year | 40/41 | €124,936 | €215,541 | +€90,604 | +72.5% |
| Trade receivables | 40 | €124,936 | €160,343 | +€35,406 | +28.3% |
| Other amounts receivable | 41 | - | €55,198 | +€55,198 | |
| Cash at bank and in hand | 54/58 | €15,696 | €20,022 | +€4,326 | +27.6% |
| Total equity and liabilities | 10/49 | €1,062,242 | €1,152,163 | +€89,921 | +8.5% |
| Equity | 10/15 | €363,568 | €479,320 | +€115,752 | +31.8% |
| Reserves | 13 | €363,568 | €479,320 | +€115,752 | +31.8% |
| Tax-exempt reserves | 132 | €104,863 | €101,119 | -€3,745 | -3.6% |
| Distributable reserves | 133 | €258,705 | €378,201 | +€119,496 | +46.2% |
| Provisions and deferred taxes | 16 | €26,216 | €25,280 | -€936 | -3.6% |
| Deferred taxes | 168 | €26,216 | €25,280 | -€936 | -3.6% |
| Amounts payable | 17/49 | €672,458 | €647,563 | -€24,895 | -3.7% |
| Amounts payable after more than one year | 17 | €568,127 | €520,265 | -€47,862 | -8.4% |
| Financial debts | 170/4 | €568,127 | €520,265 | -€47,862 | -8.4% |
| Amounts payable within one year | 42/48 | €104,331 | €127,298 | +€22,968 | +22.0% |
| Current portion of amounts payable after more than one year | 42 | €56,864 | €78,736 | +€21,872 | +38.5% |
| Trade debts | 44 | €5,952 | €8,319 | +€2,367 | +39.8% |
| Suppliers | 440/4 | €5,952 | €8,319 | +€2,367 | +39.8% |
| Taxes, remuneration and social security | 45 | €41,293 | €40,243 | -€1,049 | -2.5% |
| Taxes | 450/3 | €41,100 | €40,243 | -€857 | -2.1% |
| Remuneration and social security | 454/9 | €193 | - | -€193 | |
| Other amounts payable | 47/48 | €223 | - | -€223 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,466 | €40,229 | -€237 | -0.6% |
| Other operating charges | 640/8 | €3,768 | €4,186 | +€418 | +11.1% |
| Gross operating margin | 9900 | €196,153 | €235,020 | +€38,866 | +19.8% |
| Operating profit (loss) | 9901 | €151,919 | €190,604 | +€38,685 | +25.5% |
| Financial income | 75/76B | - | €424 | +€424 | |
| Recurring financial income | 75 | - | €424 | +€424 | |
| Financial charges | 65/66B | €12,493 | €26,627 | +€14,134 | +113.1% |
| Recurring financial charges | 65 | €12,493 | €26,627 | +€14,134 | +113.1% |
| Profit (loss) for the period before taxes | 9903 | €139,426 | €164,401 | +€24,975 | +17.9% |
| Transfer from deferred taxes | 780 | €3,745 | €3,745 | = | 0.0% |
| Income taxes | 67/77 | €46,911 | €49,586 | +€2,675 | +5.7% |
| Profit (loss) for the period | 9904 | €96,260 | €118,560 | +€22,300 | +23.2% |
| Transfer from tax-exempt reserves | 789 | €936 | €936 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €97,196 | €119,496 | +€22,300 | +22.9% |
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 29 September 2026 via checked.be.