BRYAN VANMELLAERTS: 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.
BRYAN VANMELLAERTS
Largest movements
- Tangible fixed assets -€78,470
down €78,470 (-21.9%), from €358,581 to €280,111
of which Furniture and vehicles: -€56,157
- Cash +€28,363
up €28,363 (+4,086%), from €694 to €29,057
mainly Depreciation (+€80,056) and Short-term financial debts (+€75,000)
- Current portion of long-term debt -€76,865
down €76,865 (-62.5%), from €123,067 to €46,203
- Short-term financial debts +€75,000
new in 2025: €75,000
- Debts after one year -€46,203
down €46,203 (-17.8%), from €259,359 to €213,156
- Trade debts -€26,165
down €26,165 (-40.0%), from €65,358 to €39,194
- Reserves +€19,627
up €19,627 (+21.9%), from €89,440 to €109,067
- Depreciation +€9,345
up €9,345 (+13.2%), from €70,712 to €80,056
- Staff costs -€4,650
down €4,650 (-8.1%), from €57,067 to €52,417
- Gross operating margin -€3,394
down €3,394 (-1.8%), from €185,715 to €182,321
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 | €633,764 | €585,665 | -€48,098 | -7.6% |
| Fixed assets | 21/28 | €360,181 | €281,342 | -€78,839 | -21.9% |
| Intangible fixed assets | 21 | €1,475 | €1,106 | -€369 | -25.0% |
| Tangible fixed assets | 22/27 | €358,581 | €280,111 | -€78,470 | -21.9% |
| Plant, machinery and equipment | 23 | €22,569 | €12,184 | -€10,384 | -46.0% |
| Furniture and vehicles | 24 | €147,714 | €91,557 | -€56,157 | -38.0% |
| Other tangible fixed assets | 26 | €188,298 | €176,370 | -€11,928 | -6.3% |
| Financial fixed assets | 28 | €125 | €125 | = | 0.0% |
| Current assets | 29/58 | €273,583 | €304,323 | +€30,740 | +11.2% |
| Stocks and contracts in progress | 3 | €28,187 | €31,577 | +€3,391 | +12.0% |
| Stocks | 30/36 | €28,187 | €2,170 | -€26,016 | -92.3% |
| Contracts in progress | 37 | €0 | €29,407 | +€29,407 | |
| Amounts receivable within one year | 40/41 | €244,702 | €243,689 | -€1,013 | -0.4% |
| Trade receivables | 40 | €78,193 | €73,743 | -€4,450 | -5.7% |
| Other amounts receivable | 41 | €166,509 | €169,945 | +€3,436 | +2.1% |
| Cash at bank and in hand | 54/58 | €694 | €29,057 | +€28,363 | +4,086% |
| Total equity and liabilities | 10/49 | €633,764 | €585,665 | -€48,098 | -7.6% |
| Equity | 10/15 | €99,440 | €119,067 | +€19,627 | +19.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €89,440 | €109,067 | +€19,627 | +21.9% |
| Distributable reserves | 133 | €89,440 | €109,067 | +€19,627 | +21.9% |
| Amounts payable | 17/49 | €534,323 | €466,599 | -€67,725 | -12.7% |
| Amounts payable after more than one year | 17 | €259,359 | €213,156 | -€46,203 | -17.8% |
| Financial debts | 170/4 | €259,359 | €213,156 | -€46,203 | -17.8% |
| Amounts payable within one year | 42/48 | €271,293 | €249,771 | -€21,522 | -7.9% |
| Current portion of amounts payable after more than one year | 42 | €123,067 | €46,203 | -€76,865 | -62.5% |
| Financial debts | 43 | - | €75,000 | +€75,000 | |
| Credit institutions | 430/8 | - | €75,000 | +€75,000 | |
| Trade debts | 44 | €65,358 | €39,194 | -€26,165 | -40.0% |
| Suppliers | 440/4 | €65,358 | €39,194 | -€26,165 | -40.0% |
| Taxes, remuneration and social security | 45 | €24,479 | €26,603 | +€2,124 | +8.7% |
| Taxes | 450/3 | €13,317 | €13,093 | -€223 | -1.7% |
| Remuneration and social security | 454/9 | €11,162 | €13,509 | +€2,347 | +21.0% |
| Other amounts payable | 47/48 | €58,388 | €62,771 | +€4,383 | +7.5% |
| Accrued charges and deferred income | 492/3 | €3,672 | €3,672 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €57,067 | €52,417 | -€4,650 | -8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,712 | €80,056 | +€9,345 | +13.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €7,056 | €5,744 | -€1,312 | -18.6% |
| Gross operating margin | 9900 | €185,715 | €182,321 | -€3,394 | -1.8% |
| Operating profit (loss) | 9901 | €50,880 | €44,104 | -€6,776 | -13.3% |
| Financial income | 75/76B | €668 | €0 | -€668 | -100.0% |
| Recurring financial income | 75 | €668 | €0 | -€668 | -100.0% |
| Financial charges | 65/66B | €15,368 | €14,335 | -€1,033 | -6.7% |
| Recurring financial charges | 65 | €15,368 | €14,335 | -€1,033 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | €36,180 | €29,769 | -€6,411 | -17.7% |
| Income taxes | 67/77 | €11,212 | €10,142 | -€1,070 | -9.5% |
| Profit (loss) for the period | 9904 | €24,968 | €19,627 | -€5,342 | -21.4% |
| Profit (loss) for the period to be appropriated | 9905 | €24,968 | €19,627 | -€5,342 | -21.4% |
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 24 October 2026 via checked.be.