DEMONCEAU: 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.
DEMONCEAU
Largest movements
- Cash -€117,019
down €117,019 (-40.8%), from €286,803 to €169,784
mainly Contributions, distributions and other (-€80,700) and Stocks and contracts (-€68,836)
- Stocks and contracts +€68,836
up €68,836 (+11.6%), from €594,219 to €663,056
- Tangible fixed assets -€24,733
down €24,733 (-2.5%), from €984,192 to €959,459
of which Other tangible fixed assets: -€26,280
- Receivables within one year -€24,640
down €24,640 (-75.3%), from €32,703 to €8,063
of which Trade receivables: -€13,788
- Debts after one year -€50,200
down €50,200 (-14.1%), from €355,500 to €305,300
- Reserves -€30,679
down €30,679 (-2.2%), from €1.4m to €1.4m
of which Distributable reserves: -€30,679
- Financial income -€78,808
down €78,808 (-97.4%), from €80,895 to €2,087
- Taxes -€21,739
down €21,739 (-53.1%), from €40,973 to €19,234
- Gross operating margin +€6,262
up €6,262 (+3.2%), from €194,678 to €200,940
- Financial charges -€3,826
down €3,826 (-10.5%), from €36,377 to €32,551
- Staff costs +€3,582
up €3,582 (+7.8%), from €45,928 to €49,511
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 | €2,021,817 | €1,923,697 | -€98,120 | -4.9% |
| Fixed assets | 21/28 | €985,122 | €960,389 | -€24,733 | -2.5% |
| Tangible fixed assets | 22/27 | €984,192 | €959,459 | -€24,733 | -2.5% |
| Land and buildings | 22 | €329,979 | €329,979 | = | 0.0% |
| Plant, machinery and equipment | 23 | €22,489 | €23,603 | +€1,114 | +5.0% |
| Furniture and vehicles | 24 | €3,212 | €2,367 | -€844 | -26.3% |
| Other tangible fixed assets | 26 | €628,512 | €602,231 | -€26,280 | -4.2% |
| Assets under construction and advance payments | 27 | - | €1,278 | +€1,278 | |
| Financial fixed assets | 28 | €930 | €930 | = | 0.0% |
| Current assets | 29/58 | €1,036,695 | €963,308 | -€73,387 | -7.1% |
| Stocks and contracts in progress | 3 | €594,219 | €663,056 | +€68,836 | +11.6% |
| Stocks | 30/36 | €594,219 | €663,056 | +€68,836 | +11.6% |
| Amounts receivable within one year | 40/41 | €32,703 | €8,063 | -€24,640 | -75.3% |
| Trade receivables | 40 | €15,416 | €1,629 | -€13,788 | -89.4% |
| Other amounts receivable | 41 | €17,286 | €6,434 | -€10,852 | -62.8% |
| Current investments | 50/53 | €113,455 | €113,455 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €286,803 | €169,784 | -€117,019 | -40.8% |
| Deferred charges and accrued income | 490/1 | €9,515 | €8,950 | -€565 | -5.9% |
| Total equity and liabilities | 10/49 | €2,021,817 | €1,923,697 | -€98,120 | -4.9% |
| Equity | 10/15 | €1,495,735 | €1,459,356 | -€36,379 | -2.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,416,119 | €1,385,440 | -€30,679 | -2.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €12,364 | €12,364 | = | 0.0% |
| Distributable reserves | 133 | €1,397,555 | €1,366,876 | -€30,679 | -2.2% |
| Profit (loss) carried forward | 14 | €17,616 | €11,916 | -€5,700 | -32.4% |
| Amounts payable | 17/49 | €526,082 | €464,341 | -€61,741 | -11.7% |
| Amounts payable after more than one year | 17 | €355,500 | €305,300 | -€50,200 | -14.1% |
| Other amounts payable | 178/9 | €355,500 | €305,300 | -€50,200 | -14.1% |
| Amounts payable within one year | 42/48 | €130,169 | €122,798 | -€7,372 | -5.7% |
| Trade debts | 44 | €4,316 | €22,641 | +€18,325 | +425% |
| Suppliers | 440/4 | €4,316 | €22,641 | +€18,325 | +425% |
| Advances received on contracts in progress | 46 | €15,152 | €8,613 | -€6,539 | -43.2% |
| Taxes, remuneration and social security | 45 | €23,041 | €9,063 | -€13,978 | -60.7% |
| Taxes | 450/3 | €19,884 | €4,483 | -€15,401 | -77.5% |
| Remuneration and social security | 454/9 | €3,157 | €4,580 | +€1,423 | +45.1% |
| Other amounts payable | 47/48 | €87,661 | €82,481 | -€5,180 | -5.9% |
| Accrued charges and deferred income | 492/3 | €40,413 | €36,244 | -€4,169 | -10.3% |
| Remuneration, social security and pensions | 62 | €45,928 | €49,511 | +€3,582 | +7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,678 | €37,013 | -€665 | -1.8% |
| Other operating charges | 640/8 | €20,145 | €20,397 | +€252 | +1.3% |
| Gross operating margin | 9900 | €194,678 | €200,940 | +€6,262 | +3.2% |
| Operating profit (loss) | 9901 | €90,926 | €94,019 | +€3,093 | +3.4% |
| Financial income | 75/76B | €80,895 | €2,087 | -€78,808 | -97.4% |
| Recurring financial income | 75 | €80,895 | €2,087 | -€78,808 | -97.4% |
| Financial charges | 65/66B | €36,377 | €32,551 | -€3,826 | -10.5% |
| Recurring financial charges | 65 | €36,377 | €32,551 | -€3,826 | -10.5% |
| Profit (loss) for the period before taxes | 9903 | €135,444 | €63,555 | -€71,889 | -53.1% |
| Income taxes | 67/77 | €40,973 | €19,234 | -€21,739 | -53.1% |
| Profit (loss) for the period | 9904 | €94,471 | €44,321 | -€50,150 | -53.1% |
| Profit (loss) for the period to be appropriated | 9905 | €94,471 | €44,321 | -€50,150 | -53.1% |
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 13 October 2026 via checked.be.