Democon: what changed
Two financial 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.
Democon
Largest movements
- Deferred charges and accrued income -€24,778
no longer reported in 2025 (was €24,778)
- Cash +€24,108
up €24,108 (+56.1%), from €42,983 to €67,090
mainly Deferred charges and accrued income (+€24,778) and Tax, wage and social debts (+€19,271)
- Receivables within one year -€15,165
down €15,165 (-46.3%), from €32,746 to €17,581
of which Trade receivables: -€14,205
- Tangible fixed assets -€10,182
down €10,182 (-8.8%), from €115,189 to €105,008
of which Land and buildings: -€10,151
- Reserves -€39,397
down €39,397 (-25.4%), from €155,162 to €115,765
- Tax, wage and social debts +€19,271
up €19,271 (+488%), from €3,946 to €23,217
of which Taxes: +€22,136
- Other debts -€6,926
down €6,926 (-32.2%), from €21,490 to €14,564
- Trade debts +€2,259
up €2,259 (+69.0%), from €3,273 to €5,533
- Gross operating margin +€26,233
up €26,233 (+87.2%), from €30,089 to €56,322
- Other operating charges +€15,816
up €15,816 (+683%), from €2,317 to €18,133
- Taxes +€3,509
up €3,509 (+68.8%), from €5,099 to €8,607
- Financial charges -€1,686
down €1,686 (-83.8%), from €2,011 to €326
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.
Derived cash bridge
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 | €215,696 | €189,679 | -€26,017 | -12.1% |
| Fixed assets | 21/28 | €115,189 | €105,008 | -€10,182 | -8.8% |
| Tangible fixed assets | 22/27 | €115,189 | €105,008 | -€10,182 | -8.8% |
| Land and buildings | 22 | €111,665 | €101,513 | -€10,151 | -9.1% |
| Plant, machinery and equipment | 23 | €3,524 | €2,691 | -€833 | -23.6% |
| Furniture and vehicles | 24 | - | €803 | +€803 | |
| Current assets | 29/58 | €100,507 | €84,672 | -€15,835 | -15.8% |
| Amounts receivable within one year | 40/41 | €32,746 | €17,581 | -€15,165 | -46.3% |
| Trade receivables | 40 | €31,537 | €17,332 | -€14,205 | -45.0% |
| Other amounts receivable | 41 | €1,210 | €250 | -€960 | -79.4% |
| Cash at bank and in hand | 54/58 | €42,983 | €67,090 | +€24,108 | +56.1% |
| Deferred charges and accrued income | 490/1 | €24,778 | - | -€24,778 | |
| Total equity and liabilities | 10/49 | €215,696 | €189,679 | -€26,017 | -12.1% |
| Equity | 10/15 | €185,762 | €146,365 | -€39,397 | -21.2% |
| Contributions | 10/11 | €30,600 | €30,600 | = | 0.0% |
| Reserves | 13 | €155,162 | €115,765 | -€39,397 | -25.4% |
| Distributable reserves | 133 | €155,162 | €115,765 | -€39,397 | -25.4% |
| Amounts payable | 17/49 | €29,934 | €43,314 | +€13,380 | +44.7% |
| Amounts payable within one year | 42/48 | €28,709 | €43,314 | +€14,604 | +50.9% |
| Trade debts | 44 | €3,273 | €5,533 | +€2,259 | +69.0% |
| Suppliers | 440/4 | €3,273 | €5,533 | +€2,259 | +69.0% |
| Taxes, remuneration and social security | 45 | €3,946 | €23,217 | +€19,271 | +488% |
| Taxes | 450/3 | €1,081 | €23,217 | +€22,136 | +2,048% |
| Remuneration and social security | 454/9 | €2,865 | - | -€2,865 | |
| Other amounts payable | 47/48 | €21,490 | €14,564 | -€6,926 | -32.2% |
| Accrued charges and deferred income | 492/3 | €1,225 | - | -€1,225 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,453 | €11,338 | -€115 | -1.0% |
| Other operating charges | 640/8 | €2,317 | €18,133 | +€15,816 | +683% |
| Gross operating margin | 9900 | €30,089 | €56,322 | +€26,233 | +87.2% |
| Operating profit (loss) | 9901 | €16,318 | €26,851 | +€10,532 | +64.5% |
| Financial charges | 65/66B | €2,011 | €326 | -€1,686 | -83.8% |
| Recurring financial charges | 65 | €2,011 | €326 | -€1,686 | -83.8% |
| Profit (loss) for the period before taxes | 9903 | €14,307 | €26,525 | +€12,218 | +85.4% |
| Income taxes | 67/77 | €5,099 | €8,607 | +€3,509 | +68.8% |
| Profit (loss) for the period | 9904 | €9,209 | €17,918 | +€8,710 | +94.6% |
| Profit (loss) for the period to be appropriated | 9905 | €9,209 | €17,918 | +€8,710 | +94.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.