De Meester-Vispoel: 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.
What changed
De Meester-Vispoel
NACE 43.222, Installation of electric heating, air conditioning, cooling and ventilation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€24,043
2024 · €28,808-€4,765
Equity
€290,936
2024 · €266,892+€24,043
Cash
€58,138
2024 · €51,420+€6,717
Balance sheet total
€668,732
2024 · €688,794-€20,062
Largest movements
Assets
- Tangible fixed assets -€28,618
down €28,618 (-4.7%), from €613,889 to €585,271
of which Land and buildings: -€18,730
Equity and liabilities
- Debts after one year -€36,131
down €36,131 (-12.6%), from €286,139 to €250,008
- Reserves +€24,043
up €24,043 (+9.7%), from €246,892 to €270,936
of which Distributable reserves: +€24,043
Income statement
- Gross operating margin +€7,907
up €7,907 (+10.5%), from €75,264 to €83,171
- Financial charges +€6,357
up €6,357 (+74.4%), from €8,540 to €14,897
- Taxes +€3,627
up €3,627 (+41.6%), from €8,725 to €12,353
- Depreciation +€2,160
up €2,160 (+7.8%), from €27,688 to €29,848
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.
Result 2024
€28,808
Gross operating margin
+€7,907
Depreciation
-€2,160
Other operating charges
-€331
Financial income
-€196
Financial charges
-€6,357
Taxes
-€3,627
Result 2025
€24,043
raises the resultlowers the result
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.
From operations
+€43,092
Investment
-€1,230
Financing
-€35,145
Cash 2024
€51,420
From operations (derived)
+€43,092
Net result for the year
+€24,043
Depreciation
+€29,848
Receivables within one year
-€3,430
Deferred charges and accrued income
+€1,592
Trade debts
-€2,823
Tax, wage and social debts
-€2,126
Other debts
-€4,120
Accrued charges and deferred income
+€108
Investment (derived)
-€1,230
Investment in fixed assets (net)
-€1,230
Financing
-€35,145
Debts after one year
-€36,131
Current portion of long-term debt
+€986
Cash 2025
€58,138
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €688,794 | €668,732 | -€20,062 | -2.9% |
| Fixed assets | 21/28 | €613,889 | €585,271 | -€28,618 | -4.7% |
| Tangible fixed assets | 22/27 | €613,889 | €585,271 | -€28,618 | -4.7% |
| Land and buildings | 22 | €577,319 | €558,589 | -€18,730 | -3.2% |
| Plant, machinery and equipment | 23 | €828 | €1,716 | +€887 | +107% |
| Furniture and vehicles | 24 | €34,769 | €24,164 | -€10,605 | -30.5% |
| Other tangible fixed assets | 26 | €973 | €803 | -€170 | -17.5% |
| Current assets | 29/58 | €74,905 | €83,461 | +€8,556 | +11.4% |
| Amounts receivable within one year | 40/41 | €7,903 | €11,334 | +€3,430 | +43.4% |
| Trade receivables | 40 | €1,408 | €2,250 | +€843 | +59.8% |
| Other amounts receivable | 41 | €6,496 | €9,083 | +€2,588 | +39.8% |
| Cash at bank and in hand | 54/58 | €51,420 | €58,138 | +€6,717 | +13.1% |
| Deferred charges and accrued income | 490/1 | €15,581 | €13,989 | -€1,592 | -10.2% |
| Total equity and liabilities | 10/49 | €688,794 | €668,732 | -€20,062 | -2.9% |
| Equity | 10/15 | €266,892 | €290,936 | +€24,043 | +9.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €246,892 | €270,936 | +€24,043 | +9.7% |
| Non-distributable reserves | 130/1 | €140 | €140 | = | 0.0% |
| Reserves not available under the articles | 1311 | €140 | €140 | = | 0.0% |
| Distributable reserves | 133 | €246,752 | €270,796 | +€24,043 | +9.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €421,902 | €377,796 | -€44,106 | -10.5% |
| Amounts payable after more than one year | 17 | €286,139 | €250,008 | -€36,131 | -12.6% |
| Financial debts | 170/4 | €286,139 | €250,008 | -€36,131 | -12.6% |
| Amounts payable within one year | 42/48 | €135,762 | €127,680 | -€8,083 | -6.0% |
| Current portion of amounts payable after more than one year | 42 | €35,145 | €36,131 | +€986 | +2.8% |
| Trade debts | 44 | €13,304 | €10,481 | -€2,823 | -21.2% |
| Suppliers | 440/4 | €13,304 | €10,481 | -€2,823 | -21.2% |
| Taxes, remuneration and social security | 45 | €4,287 | €2,161 | -€2,126 | -49.6% |
| Taxes | 450/3 | €4,287 | €2,161 | -€2,126 | -49.6% |
| Other amounts payable | 47/48 | €83,027 | €78,906 | -€4,120 | -5.0% |
| Accrued charges and deferred income | 492/3 | - | €108 | +€108 | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,688 | €29,848 | +€2,160 | +7.8% |
| Other operating charges | 640/8 | €1,705 | €2,036 | +€331 | +19.4% |
| Gross operating margin | 9900 | €75,264 | €83,171 | +€7,907 | +10.5% |
| Operating profit (loss) | 9901 | €45,872 | €51,287 | +€5,415 | +11.8% |
| Financial income | 75/76B | €202 | €6 | -€196 | -96.8% |
| Recurring financial income | 75 | €202 | €6 | -€196 | -96.8% |
| Financial charges | 65/66B | €8,540 | €14,897 | +€6,357 | +74.4% |
| Recurring financial charges | 65 | €8,540 | €14,897 | +€6,357 | +74.4% |
| Profit (loss) for the period before taxes | 9903 | €37,534 | €36,396 | -€1,137 | -3.0% |
| Income taxes | 67/77 | €8,725 | €12,353 | +€3,627 | +41.6% |
| Profit (loss) for the period | 9904 | €28,808 | €24,043 | -€4,765 | -16.5% |
| Profit (loss) for the period to be appropriated | 9905 | €28,808 | €24,043 | -€4,765 | -16.5% |
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 29 October 2026 via checked.be.