DEMULCO: 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.
DEMULCO
Largest movements
- Receivables within one year -€10,311
down €10,311 (-2.3%), from €446,178 to €435,867
- Profit (loss) carried forward -€13,781
down €13,781 (-4.1%), from €333,767 to €319,986
- Other operating charges -€2,253
down €2,253 (-65.3%), from €3,452 to €1,199
- Depreciation +€2,014
up €2,014 (+208%), from €970 to €2,985
- Financial charges -€1,690
no longer reported in 2025 (was €1,690)
- Gross operating margin -€710
down €710 (-7.7%), from -€9,259 to -€9,969
- Taxes -€422
down €422, from €51 to -€372
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €454,362 | €441,066 | -€13,296 | -2.9% |
| Fixed assets | 21/28 | €8,184 | €5,200 | -€2,985 | -36.5% |
| Tangible fixed assets | 22/27 | €7,983 | €4,999 | -€2,985 | -37.4% |
| Furniture and vehicles | 24 | €7,983 | €4,999 | -€2,985 | -37.4% |
| Financial fixed assets | 28 | €201 | €201 | = | 0.0% |
| Current assets | 29/58 | €446,178 | €435,867 | -€10,311 | -2.3% |
| Amounts receivable within one year | 40/41 | €446,178 | €435,867 | -€10,311 | -2.3% |
| Other amounts receivable | 41 | €446,178 | €435,867 | -€10,311 | -2.3% |
| Total equity and liabilities | 10/49 | €454,362 | €441,066 | -€13,296 | -2.9% |
| Equity | 10/15 | €453,995 | €440,215 | -€13,781 | -3.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €101,637 | €101,637 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €685 | €685 | = | 0.0% |
| Distributable reserves | 133 | €99,092 | €99,092 | = | 0.0% |
| Profit (loss) carried forward | 14 | €333,767 | €319,986 | -€13,781 | -4.1% |
| Amounts payable | 17/49 | €367 | €852 | +€485 | +132% |
| Amounts payable within one year | 42/48 | €367 | €852 | +€485 | +132% |
| Taxes, remuneration and social security | 45 | €367 | €852 | +€485 | +132% |
| Taxes | 450/3 | €367 | €852 | +€485 | +132% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €970 | €2,985 | +€2,014 | +208% |
| Other operating charges | 640/8 | €3,452 | €1,199 | -€2,253 | -65.3% |
| Gross operating margin | 9900 | -€9,259 | -€9,969 | -€710 | -7.7% |
| Operating profit (loss) | 9901 | -€13,681 | -€14,152 | -€471 | -3.4% |
| Financial charges | 65/66B | €1,690 | - | -€1,690 | |
| Recurring financial charges | 65 | €1,690 | - | -€1,690 | |
| Profit (loss) for the period before taxes | 9903 | -€15,371 | -€14,152 | +€1,219 | +7.9% |
| Income taxes | 67/77 | €51 | -€372 | -€422 | |
| Profit (loss) for the period | 9904 | -€15,422 | -€13,781 | +€1,641 | +10.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,422 | -€13,781 | +€1,641 | +10.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.