Bieke Meeus: 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.
Bieke Meeus
Largest movements
- Cash +€28,312
up €28,312 (+113%), from €25,005 to €53,318
mainly Net result for the year (+€18,925) and Depreciation (+€10,174)
- Receivables within one year +€11,216
up €11,216 (+716%), from €1,567 to €12,782
of which Trade receivables: +€10,538
- Tangible fixed assets -€6,404
down €6,404 (-10.0%), from €64,225 to €57,821
- Stocks and contracts +€4,482
up €4,482 (+88.2%), from €5,079 to €9,561
- Intangible fixed assets -€1,630
down €1,630 (-29.0%), from €5,627 to €3,997
- Profit (loss) carried forward +€18,925
up €18,925 (+49.5%), from €38,261 to €57,186
- Trade debts +€9,247
up €9,247 (+1,202%), from €769 to €10,016
- Tax, wage and social debts +€5,980
up €5,980 (+748%), from €800 to €6,780
- Other debts +€3,009
up €3,009 (+5.3%), from €56,988 to €59,997
- Gross operating margin -€32,165
down €32,165 (-44.9%), from €71,578 to €39,413
- Depreciation -€6,162
down €6,162 (-37.7%), from €16,335 to €10,174
- Taxes -€5,187
down €5,187 (-49.9%), from €10,387 to €5,201
- Financial charges +€2,076
up €2,076 (+236%), from €880 to €2,956
- Other operating charges -€1,287
down €1,287 (-37.3%), from €3,453 to €2,166
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
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 | €101,503 | €137,479 | +€35,977 | +35.4% |
| Fixed assets | 21/28 | €69,852 | €61,818 | -€8,034 | -11.5% |
| Intangible fixed assets | 21 | €5,627 | €3,997 | -€1,630 | -29.0% |
| Tangible fixed assets | 22/27 | €64,225 | €57,821 | -€6,404 | -10.0% |
| Plant, machinery and equipment | 23 | €64,225 | €57,821 | -€6,404 | -10.0% |
| Current assets | 29/58 | €31,651 | €75,661 | +€44,010 | +139% |
| Stocks and contracts in progress | 3 | €5,079 | €9,561 | +€4,482 | +88.2% |
| Stocks | 30/36 | €5,079 | €9,561 | +€4,482 | +88.2% |
| Amounts receivable within one year | 40/41 | €1,567 | €12,782 | +€11,216 | +716% |
| Trade receivables | 40 | €790 | €11,328 | +€10,538 | +1,334% |
| Other amounts receivable | 41 | €776 | €1,454 | +€677 | +87.2% |
| Cash at bank and in hand | 54/58 | €25,005 | €53,318 | +€28,312 | +113% |
| Total equity and liabilities | 10/49 | €101,503 | €137,479 | +€35,977 | +35.4% |
| Equity | 10/15 | €41,761 | €60,686 | +€18,925 | +45.3% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,261 | €57,186 | +€18,925 | +49.5% |
| Amounts payable | 17/49 | €59,742 | €76,794 | +€17,052 | +28.5% |
| Amounts payable within one year | 42/48 | €58,557 | €76,794 | +€18,236 | +31.1% |
| Trade debts | 44 | €769 | €10,016 | +€9,247 | +1,202% |
| Suppliers | 440/4 | €769 | €10,016 | +€9,247 | +1,202% |
| Taxes, remuneration and social security | 45 | €800 | €6,780 | +€5,980 | +748% |
| Taxes | 450/3 | €800 | €6,780 | +€5,980 | +748% |
| Other amounts payable | 47/48 | €56,988 | €59,997 | +€3,009 | +5.3% |
| Accrued charges and deferred income | 492/3 | €1,185 | - | -€1,185 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,335 | €10,174 | -€6,162 | -37.7% |
| Other operating charges | 640/8 | €3,453 | €2,166 | -€1,287 | -37.3% |
| Gross operating margin | 9900 | €71,578 | €39,413 | -€32,165 | -44.9% |
| Operating profit (loss) | 9901 | €51,790 | €27,073 | -€24,716 | -47.7% |
| Financial income | 75/76B | €39 | €8 | -€31 | -79.3% |
| Recurring financial income | 75 | €39 | €8 | -€31 | -79.3% |
| Financial charges | 65/66B | €880 | €2,956 | +€2,076 | +236% |
| Recurring financial charges | 65 | €880 | €2,956 | +€2,076 | +236% |
| Profit (loss) for the period before taxes | 9903 | €50,948 | €24,125 | -€26,823 | -52.6% |
| Income taxes | 67/77 | €10,387 | €5,201 | -€5,187 | -49.9% |
| Profit (loss) for the period | 9904 | €40,561 | €18,925 | -€21,636 | -53.3% |
| Profit (loss) for the period to be appropriated | 9905 | €40,561 | €18,925 | -€21,636 | -53.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.