I compiled a simple example with DM 8.26 and DM 8.38.
Here are results:

DM 8.26 - 15.5 Kb,
DM 8.38 - 29.5 Kb

//===================================
sc -c test.c
link -SU:WINDOWS:4 test
//===================================
#include <windows.h>

int WINAPI WinMain (HINSTANCE hInstance, HINSTANCE hPrevInstance, PSTR szCmdLine, int iCmdShow)
{
char mystr[]="Test message";

MessageBox(0, mystr, " ", 0);
return 0;
}
//===================================