Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Shrinking team NBB
FTE fell two years in a row, from 291.5 to 241.8.
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Busy address KBO
44 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
DEMOCO from Hasselt, company number BE0440712867, closed financial year 2025 with a result of € 2.7 million after tax. For that financial year DEMOCO recorded revenue of € 188.3 million and equity of € 15.6 million. Compared with financial year 2024, the result moved from € 3.2 million to € 2.7 million. The company is profitable. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on June 22, 2026.
€ 15.6 million
▲ 21% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 2.7 million
▼ 15% vs 2024
Profit after tax over the fiscal year.
€ 2.4 million
▲ 138% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 10.6 million.
People and assets in 2025
241.8
▼ 26.8 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 20.1 million
▼ 11% vs 2024
€ 83,000 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 296,777
▲ 8% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 38.8 million
▼ 6% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 86 days on average.
€ 3.1 million
▼ 28% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 210,911,642 | € 224,878,579 | € 219,045,294 | € 188,346,981 | ▼ 14% |
| Profit after taxes | € -12,877,499 | € -5,434,984 | € 3,188,734 | € 2,716,802 | ▼ 15% |
| Equity | € 15,105,263 | € 9,670,278 | € 12,859,012 | € 15,575,814 | ▲ 21% |
| Total debts | € 47,836,294 | € 71,478,984 | € 56,890,995 | € 48,733,640 | ▼ 14% |
| Cash | € 4,217,407 | € 947,079 | € 1,016,421 | € 2,422,878 | ▲ 138% |
| Land & buildings | € 782,543 | € 718,400 | € 654,250 | € 393,840 | ▼ 40% |
| Retained profit | € 10,105,263 | € 4,670,278 | € 7,859,012 | € 10,575,814 | ▲ 35% |
| Balance sheet total | € 67,690,183 | € 81,305,424 | € 70,775,441 | € 67,246,557 | ▼ 5% |
| Employees (FTE) | 298.8 | 291.5 | 268.6 | 241.8 | ▼ 26.8 |
Key figures of DEMOCO, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to DEMOCO?
What happened at DEMOCO in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- ArNaSa BV stepped down as director. NBB
- Rafine BV stepped down as director. NBB
- SARKRI NV stepped down as director. NBB
- TDevelopment BV stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 2.7 million (▼ 15% vs 2024). Source: NBB ↗
- DEMOCO GROUP NV stepped down as director. NBB
- MaLiBe BV stepped down as director. NBB
- ArNaSa BV became a director. NBB
In short
From € 12.9 million loss in 2022 to € 2.7 million profit in 2025.
Paid € 718,967 in corporate taxes since 2022.
Best year ever: 2024, with € 3.2 million profit.
Pays suppliers within 86 days on average.
A new publication or filing at DEMOCO? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The shares are held by DEMOCO GROUP NV (100%). It owns 100% of DPCO SA, 50% of DEMCOR and 50% of ANICIUS itself.
Directors
According to the 2025 annual accounts
since 2025 · until 2031
Director · represented by Johannes Van den Broeck
Also active at: VANDENBRIELE, A.E.W., DEHOLI, CIRIL, DEMOCO GROUP, AEW Security, Demtec Services, DEBUILD +2 more
since 2022 · until 2025
Chairman of the board · represented by Philip Demot
Also active at: DAENINCK & DEWEERDT, VANDENBRIELE, A.E.W., DEHOLI, CIRIL, DEMCOR, Demtec Services, Wuitenhart +5 more
since 2020 · until 2026
Director · represented by Sarah Houben
Owns 12.9% via DEMOCO GROUP NV
Also active at: DAENINCK & DEWEERDT, VANDENBRIELE, A.E.W., DEHOLI, HERK&RED, CIRIL, DEMOCO GROUP, AEW Security +1 more
since 2022 · until 2028
Director · represented by Raf Frans Liza Houben
Also active at: THE ENERGY CIRCLE, DEHOLI, TIGA-R, DEMOCO GROUP, AEW Security, AEW Green
since 2024 · until 2030
Director · represented by Thibaud Demot
Also active at: VANDENBRIELE, A.E.W., DEHOLI, HERK&RED, CIRIL, DEMOCO GROUP, AEW Security, Demtec Services +7 more
since 2022 · until 2028
Shareholders
DEMOCO GROUP NV · holding of SARKRI NV
100%
Establishments
Establishment units
Physical locations of this company
Herkenrodesingel 4B
3500 Hasselt
Gentplaats 20
2000 Antwerpen
Active since 1 October 2012
Fernand Demetskaai 23
1070 Anderlecht
Active since 1 January 2010
Kortrijksesteenweg 1144
9051 Gent
Active since 1 July 2018
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 44 companies are registered at this address.
All companies at this address →Craeyenhof
HERK&RED same network
€ 1.7 million revenue · 2025
CIRIL same network
€ 22 million revenue · 2025
DOK DEVELOPMENT
€ 687,000 revenue · 2025
DEMCOR same network
+39 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0440.712.867
- VAT number
- BE 0440.712.867
- Registered office
- Herkenrodesingel 4B, 3500 Hasselt
- Names & denominations
- DEMOCO
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 7 June 1990
- Peppol
- Active · Active since 8 Jul 2025
- Activities · NACE
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