A. DE MERODE: what changed
Two fiscal 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.
A. DE MERODE
Largest movements
- Receivables within one year -€32,810
down €32,810 (-24.4%), from €134,417 to €101,607
of which Other amounts receivable: -€32,097
- Tangible fixed assets -€13,939
down €13,939 (-31.6%), from €44,077 to €30,138
- Cash -€10,459
down €10,459 (-36.2%), from €28,868 to €18,409
mainly Tax, wage and social debts (-€50,505) and Net result for the year (-€29,637)
- Tax, wage and social debts -€50,505
no longer reported in 2025 (was €50,505)
- Other debts +€44,329
up €44,329 (+274.7%), from €16,135 to €60,464
- Profit (loss) carried forward -€29,637
down €29,637 (-27.8%), from €106,625 to €76,988
- Advances received -€29,096
no longer reported in 2025 (was €29,096)
- Trade debts +€8,784
new in 2025: €8,784
- Gross operating margin -€47,665
down €47,665, from €25,757 to -€21,908
- Taxes -€21,948
down €21,948, from €9,625 to -€12,323
- Other operating charges +€4,697
up €4,697 (+939.4%), from €500 to €5,197
- Financial charges +€749
up €749 (+447.6%), from €167 to €917
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.
Cash bridge derived
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 | €207,362 | €151,237 | -€56,125 | -27.1% |
| Fixed assets | 21/28 | €44,077 | €30,138 | -€13,939 | -31.6% |
| Tangible fixed assets | 22/27 | €44,077 | €30,138 | -€13,939 | -31.6% |
| Furniture and vehicles | 24 | €44,077 | €30,138 | -€13,939 | -31.6% |
| Current assets | 29/58 | €163,285 | €121,099 | -€42,186 | -25.8% |
| Amounts receivable within one year | 40/41 | €134,417 | €101,607 | -€32,810 | -24.4% |
| Trade receivables | 40 | €713 | - | -€713 | |
| Other amounts receivable | 41 | €133,705 | €101,607 | -€32,097 | -24.0% |
| Cash at bank and in hand | 54/58 | €28,868 | €18,409 | -€10,459 | -36.2% |
| Deferred charges and accrued income | 490/1 | - | €1,083 | +€1,083 | |
| Total equity and liabilities | 10/49 | €207,362 | €151,237 | -€56,125 | -27.1% |
| Equity | 10/15 | €111,625 | €81,988 | -€29,637 | -26.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €106,625 | €76,988 | -€29,637 | -27.8% |
| Amounts payable | 17/49 | €95,737 | €69,249 | -€26,488 | -27.7% |
| Amounts payable within one year | 42/48 | €95,737 | €69,249 | -€26,488 | -27.7% |
| Trade debts | 44 | - | €8,784 | +€8,784 | |
| Suppliers | 440/4 | - | €8,784 | +€8,784 | |
| Advances received on contracts in progress | 46 | €29,096 | - | -€29,096 | |
| Taxes, remuneration and social security | 45 | €50,505 | - | -€50,505 | |
| Taxes | 450/3 | €50,505 | - | -€50,505 | |
| Other amounts payable | 47/48 | €16,135 | €60,464 | +€44,329 | +274.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,710 | €13,939 | +€228 | +1.7% |
| Other operating charges | 640/8 | €500 | €5,197 | +€4,697 | +939.4% |
| Gross operating margin | 9900 | €25,757 | -€21,908 | -€47,665 | |
| Operating profit (loss) | 9901 | €11,547 | -€41,044 | -€52,590 | |
| Financial charges | 65/66B | €167 | €917 | +€749 | +447.6% |
| Recurring financial charges | 65 | €167 | €917 | +€749 | +447.6% |
| Profit (loss) for the period before taxes | 9903 | €11,379 | -€41,960 | -€53,340 | |
| Income taxes | 67/77 | €9,625 | -€12,323 | -€21,948 | |
| Profit (loss) for the period | 9904 | €1,754 | -€29,637 | -€31,391 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,754 | -€29,637 | -€31,391 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.