BERT MEEUSSEN: 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.
BERT MEEUSSEN
Largest movements
- Receivables within one year +€225,046
up €225,046 (+190.1%), from €118,397 to €343,442
of which Other amounts receivable: +€221,268
- Cash -€115,200
down €115,200 (-68.3%), from €168,777 to €53,577
mainly Receivables within one year (-€225,046) and Contributions, distributions and other (-€59,543)
- Tangible fixed assets -€36,822
down €36,822 (-21.0%), from €174,975 to €138,152
of which Land and buildings: -€19,381
- Trade debts +€116,441
up €116,441 (+187.7%), from €62,043 to €178,484
- Other debts +€75,129
up €75,129 (+9894.9%), from €759 to €75,888
- Debts after one year -€57,873
down €57,873 (-42.0%), from €137,839 to €79,966
- Tax, wage and social debts -€27,717
down €27,717 (-68.8%), from €40,276 to €12,559
of which Remuneration and social security: -€19,575
- Reserves -€27,517
down €27,517 (-12.6%), from €218,654 to €191,137
- Staff costs -€43,346
down €43,346 (-14.7%), from €294,130 to €250,783
- Gross operating margin -€39,155
down €39,155 (-9.6%), from €407,330 to €368,175
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 | €572,883 | €647,192 | +€74,308 | +13.0% |
| Fixed assets | 21/28 | €174,975 | €141,452 | -€33,522 | -19.2% |
| Tangible fixed assets | 22/27 | €174,975 | €138,152 | -€36,822 | -21.0% |
| Land and buildings | 22 | €108,625 | €89,243 | -€19,381 | -17.8% |
| Plant, machinery and equipment | 23 | €42,088 | €35,381 | -€6,707 | -15.9% |
| Furniture and vehicles | 24 | €24,262 | €13,528 | -€10,734 | -44.2% |
| Financial fixed assets | 28 | - | €3,300 | +€3,300 | |
| Current assets | 29/58 | €397,909 | €505,739 | +€107,831 | +27.1% |
| Amounts receivable after more than one year | 29 | €100,000 | €100,000 | = | 0.0% |
| Other amounts receivable | 291 | €100,000 | €100,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €6,155 | €3,657 | -€2,498 | -40.6% |
| Stocks | 30/36 | €6,155 | €3,657 | -€2,498 | -40.6% |
| Amounts receivable within one year | 40/41 | €118,397 | €343,442 | +€225,046 | +190.1% |
| Trade receivables | 40 | €3,077 | €6,854 | +€3,778 | +122.8% |
| Other amounts receivable | 41 | €115,320 | €336,588 | +€221,268 | +191.9% |
| Cash at bank and in hand | 54/58 | €168,777 | €53,577 | -€115,200 | -68.3% |
| Deferred charges and accrued income | 490/1 | €4,580 | €5,063 | +€483 | +10.5% |
| Total equity and liabilities | 10/49 | €572,883 | €647,192 | +€74,308 | +13.0% |
| Equity | 10/15 | €272,409 | €244,892 | -€27,517 | -10.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €218,654 | €191,137 | -€27,517 | -12.6% |
| Distributable reserves | 133 | €218,654 | €191,137 | -€27,517 | -12.6% |
| Profit (loss) carried forward | 14 | €35,155 | €35,155 | = | 0.0% |
| Amounts payable | 17/49 | €300,475 | €402,300 | +€101,825 | +33.9% |
| Amounts payable after more than one year | 17 | €137,839 | €79,966 | -€57,873 | -42.0% |
| Financial debts | 170/4 | €137,839 | €79,966 | -€57,873 | -42.0% |
| Amounts payable within one year | 42/48 | €162,371 | €320,540 | +€158,170 | +97.4% |
| Current portion of amounts payable after more than one year | 42 | €59,292 | €53,609 | -€5,683 | -9.6% |
| Trade debts | 44 | €62,043 | €178,484 | +€116,441 | +187.7% |
| Suppliers | 440/4 | €62,043 | €178,484 | +€116,441 | +187.7% |
| Taxes, remuneration and social security | 45 | €40,276 | €12,559 | -€27,717 | -68.8% |
| Taxes | 450/3 | €10,238 | €2,096 | -€8,142 | -79.5% |
| Remuneration and social security | 454/9 | €30,038 | €10,463 | -€19,575 | -65.2% |
| Other amounts payable | 47/48 | €759 | €75,888 | +€75,129 | +9894.9% |
| Accrued charges and deferred income | 492/3 | €265 | €1,794 | +€1,529 | +577.5% |
| Non-recurring operating income | 76A | - | €6,198 | +€6,198 | |
| Remuneration, social security and pensions | 62 | €294,130 | €250,783 | -€43,346 | -14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,697 | €48,990 | -€1,708 | -3.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,705 | - | -€1,705 | |
| Other operating charges | 640/8 | €1,992 | €2,715 | +€724 | +36.3% |
| Gross operating margin | 9900 | €407,330 | €368,175 | -€39,155 | -9.6% |
| Operating profit (loss) | 9901 | €58,806 | €65,687 | +€6,881 | +11.7% |
| Financial income | 75/76B | €496 | €786 | +€290 | +58.4% |
| Recurring financial income | 75 | €496 | €786 | +€290 | +58.4% |
| Financial charges | 65/66B | €14,565 | €13,672 | -€894 | -6.1% |
| Recurring financial charges | 65 | €14,565 | €13,672 | -€894 | -6.1% |
| Profit (loss) for the period before taxes | 9903 | €44,736 | €52,801 | +€8,064 | +18.0% |
| Income taxes | 67/77 | €17,901 | €20,775 | +€2,875 | +16.1% |
| Profit (loss) for the period | 9904 | €26,836 | €32,025 | +€5,190 | +19.3% |
| Profit (loss) for the period to be appropriated | 9905 | €26,836 | €32,025 | +€5,190 | +19.3% |
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 11 October 2026 via checked.be.