De Meander: 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.
De Meander
Largest movements
- Cash +€225,231
up €225,231 (+504%), from €44,681 to €269,912
mainly Net result for the year (+€131,808) and Receivables within one year (+€73,289)
- Tangible fixed assets -€102,854
down €102,854 (-6.7%), from €1.5m to €1.4m
of which Land and buildings: -€105,910
- Receivables within one year -€73,289
down €73,289 (-39.6%), from €185,148 to €111,859
- Profit (loss) carried forward +€131,808
up €131,808, from -€115,373 to €16,434
- Debts after one year -€82,711
down €82,711 (-27.0%), from €306,205 to €223,494
- Gross operating margin +€29,024
up €29,024 (+16.7%), from €174,225 to €203,249
- Other operating charges +€8,797
up €8,797 (+97.7%), from €9,001 to €17,798
- Financial charges -€2,306
down €2,306 (-18.8%), from €12,243 to €9,937
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 | €1,907,047 | €1,956,135 | +€49,088 | +2.6% |
| Fixed assets | 21/28 | €1,677,218 | €1,574,364 | -€102,854 | -6.1% |
| Tangible fixed assets | 22/27 | €1,528,218 | €1,425,364 | -€102,854 | -6.7% |
| Land and buildings | 22 | €1,528,218 | €1,422,308 | -€105,910 | -6.9% |
| Plant, machinery and equipment | 23 | - | €3,055 | +€3,055 | |
| Financial fixed assets | 28 | €149,000 | €149,000 | = | 0.0% |
| Current assets | 29/58 | €229,829 | €381,771 | +€151,942 | +66.1% |
| Amounts receivable within one year | 40/41 | €185,148 | €111,859 | -€73,289 | -39.6% |
| Other amounts receivable | 41 | €185,148 | €111,859 | -€73,289 | -39.6% |
| Cash at bank and in hand | 54/58 | €44,681 | €269,912 | +€225,231 | +504% |
| Total equity and liabilities | 10/49 | €1,907,047 | €1,956,135 | +€49,088 | +2.6% |
| Equity | 10/15 | -€47,173 | €84,634 | +€131,808 | |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€115,373 | €16,434 | +€131,808 | |
| Amounts payable | 17/49 | €1,954,220 | €1,871,500 | -€82,720 | -4.2% |
| Amounts payable after more than one year | 17 | €306,205 | €223,494 | -€82,711 | -27.0% |
| Financial debts | 170/4 | €306,205 | €223,494 | -€82,711 | -27.0% |
| Amounts payable within one year | 42/48 | €1,646,664 | €1,644,262 | -€2,401 | -0.1% |
| Current portion of amounts payable after more than one year | 42 | €82,345 | €82,711 | +€366 | +0.4% |
| Trade debts | 44 | €38,633 | €35,765 | -€2,868 | -7.4% |
| Suppliers | 440/4 | €38,633 | €35,765 | -€2,868 | -7.4% |
| Other amounts payable | 47/48 | €1,525,686 | €1,525,786 | +€100 | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,352 | €3,744 | +€2,392 | +177% |
| Non-recurring operating income | 76A | €96,156 | €124,834 | +€28,677 | +29.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,879 | €48,317 | -€1,562 | -3.1% |
| Other operating charges | 640/8 | €9,001 | €17,798 | +€8,797 | +97.7% |
| Gross operating margin | 9900 | €174,225 | €203,249 | +€29,024 | +16.7% |
| Operating profit (loss) | 9901 | €115,345 | €137,133 | +€21,788 | +18.9% |
| Financial income | 75/76B | €5,532 | €4,611 | -€921 | -16.6% |
| Recurring financial income | 75 | €5,532 | €4,611 | -€921 | -16.6% |
| Financial charges | 65/66B | €12,243 | €9,937 | -€2,306 | -18.8% |
| Recurring financial charges | 65 | €12,243 | €9,937 | -€2,306 | -18.8% |
| Profit (loss) for the period before taxes | 9903 | €108,634 | €131,808 | +€23,174 | +21.3% |
| Profit (loss) for the period | 9904 | €108,634 | €131,808 | +€23,174 | +21.3% |
| Profit (loss) for the period to be appropriated | 9905 | €108,634 | €131,808 | +€23,174 | +21.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.