DE MEIMEERSEN: 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 MEIMEERSEN
Largest movements
- Financial fixed assets -€1.2m
down €1.2m (-99.4%), from €1.3m to €7,720
- Current investments +€776,276
new in 2025: €776,276
- Tangible fixed assets -€149,635
down €149,635 (-4.1%), from €3.6m to €3.5m
of which Land and buildings: -€121,581
- Debts after one year -€1.3m
down €1.3m (-44.5%), from €3.0m to €1.6m
- Reserves +€573,265
up €573,265 (+46.5%), from €1.2m to €1.8m
of which Distributable reserves: +€573,265
- Accrued charges and deferred income +€65,302
up €65,302 (+5,628%), from €1,160 to €66,462
- Financial income +€629,202
up €629,202 (+55,753%), from €1,129 to €630,330
- Financial charges +€102,955
up €102,955 (+26,742%), from €385 to €103,340
of which Financial charges: +€99,958
- Depreciation -€22,822
down €22,822 (-13.8%), from €165,268 to €142,447
- Taxes -€14,106
down €14,106 (-82.6%), from €17,073 to €2,967
- Gross operating margin -€10,332
down €10,332 (-4.2%), from €245,536 to €235,204
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 | €4,900,066 | €4,268,887 | -€631,179 | -12.9% |
| Fixed assets | 21/28 | €4,860,354 | €3,467,494 | -€1.4m | -28.7% |
| Tangible fixed assets | 22/27 | €3,609,409 | €3,459,774 | -€149,635 | -4.1% |
| Land and buildings | 22 | €3,543,113 | €3,421,533 | -€121,581 | -3.4% |
| Plant, machinery and equipment | 23 | €617 | €419 | -€198 | -32.1% |
| Furniture and vehicles | 24 | €65,679 | €37,823 | -€27,857 | -42.4% |
| Financial fixed assets | 28 | €1,250,945 | €7,720 | -€1.2m | -99.4% |
| Current assets | 29/58 | €39,712 | €801,393 | +€761,681 | +1,918% |
| Amounts receivable within one year | 40/41 | €25,196 | €21,088 | -€4,108 | -16.3% |
| Trade receivables | 40 | €21,930 | €0 | -€21,930 | -100% |
| Other amounts receivable | 41 | €3,266 | €21,088 | +€17,822 | +546% |
| Current investments | 50/53 | - | €776,276 | +€776,276 | |
| Cash at bank and in hand | 54/58 | €14,516 | €2,508 | -€12,009 | -82.7% |
| Deferred charges and accrued income | 490/1 | €0 | €1,522 | +€1,522 | |
| Total equity and liabilities | 10/49 | €4,900,066 | €4,268,887 | -€631,179 | -12.9% |
| Equity | 10/15 | €1,911,321 | €2,484,586 | +€573,265 | +30.0% |
| Contributions | 10/11 | €640,000 | €640,000 | = | 0.0% |
| Capital | 10 | €640,000 | €640,000 | = | 0.0% |
| Issued capital | 100 | €640,000 | €640,000 | = | 0.0% |
| Revaluation surpluses | 12 | €38,139 | €38,139 | = | 0.0% |
| Reserves | 13 | €1,233,182 | €1,806,448 | +€573,265 | +46.5% |
| Non-distributable reserves | 130/1 | €64,000 | €64,000 | = | 0.0% |
| Legal reserve | 130 | €64,000 | €64,000 | = | 0.0% |
| Distributable reserves | 133 | €1,169,182 | €1,742,448 | +€573,265 | +49.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,988,746 | €1,784,301 | -€1.2m | -40.3% |
| Amounts payable after more than one year | 17 | €2,971,229 | €1,649,802 | -€1.3m | -44.5% |
| Other amounts payable | 178/9 | €2,971,229 | €1,649,802 | -€1.3m | -44.5% |
| Amounts payable within one year | 42/48 | €16,356 | €68,036 | +€51,680 | +316% |
| Trade debts | 44 | €2,601 | €780 | -€1,821 | -70.0% |
| Suppliers | 440/4 | €2,601 | €780 | -€1,821 | -70.0% |
| Taxes, remuneration and social security | 45 | €13,755 | €39,256 | +€25,501 | +185% |
| Taxes | 450/3 | €13,755 | €39,256 | +€25,501 | +185% |
| Other amounts payable | 47/48 | €0 | €28,000 | +€28,000 | |
| Accrued charges and deferred income | 492/3 | €1,160 | €66,462 | +€65,302 | +5,628% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €165,268 | €142,447 | -€22,822 | -13.8% |
| Other operating charges | 640/8 | €14,428 | €15,378 | +€949 | +6.6% |
| Non-recurring operating charges | 66A | - | €138 | +€138 | |
| Gross operating margin | 9900 | €245,536 | €235,204 | -€10,332 | -4.2% |
| Operating profit (loss) | 9901 | €65,839 | €77,242 | +€11,403 | +17.3% |
| Financial income | 75/76B | €1,129 | €630,330 | +€629,202 | +55,753% |
| Recurring financial income | 75 | €1,129 | €630,330 | +€629,202 | +55,753% |
| Financial charges | 65/66B | €385 | €103,340 | +€102,955 | +26,742% |
| Recurring financial charges | 65 | €385 | €100,343 | +€99,958 | +25,963% |
| Non-recurring financial charges | 66B | - | €2,997 | +€2,997 | |
| Profit (loss) for the period before taxes | 9903 | €66,583 | €604,232 | +€537,650 | +807% |
| Income taxes | 67/77 | €17,073 | €2,967 | -€14,106 | -82.6% |
| Profit (loss) for the period | 9904 | €49,510 | €601,265 | +€551,755 | +1,114% |
| Profit (loss) for the period to be appropriated | 9905 | €49,510 | €601,265 | +€551,755 | +1,114% |
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 13 October 2026 via checked.be.