De Merode: what changed
Two fiscal 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 Merode
Largest movements
- Cash +€18,143
up €18,143 (+305.5%), from €5,938 to €24,081
mainly Debts after one year (+€67,951) and Depreciation (+€15,226)
- Tangible fixed assets -€15,226
down €15,226 (-3.2%), from €478,778 to €463,551
- Deferred charges and accrued income -€13,200
down €13,200 (-74.6%), from €17,700 to €4,500
- Other debts -€91,011
no longer reported in 2025 (was €91,011)
- Debts after one year +€67,951
up €67,951 (+18.2%), from €372,861 to €440,811
- Reserves +€13,812
up €13,812 (+154.6%), from €8,935 to €22,747
- Taxes +€2,826
up €2,826 (+158.9%), from €1,778 to €4,604
- Financial charges -€506
down €506 (-5.8%), from €8,688 to €8,183
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.
Cash bridge derived
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 | €502,416 | €492,133 | -€10,283 | -2.0% |
| Fixed assets | 21/28 | €478,778 | €463,551 | -€15,226 | -3.2% |
| Tangible fixed assets | 22/27 | €478,778 | €463,551 | -€15,226 | -3.2% |
| Land and buildings | 22 | €478,778 | €463,551 | -€15,226 | -3.2% |
| Current assets | 29/58 | €23,638 | €28,581 | +€4,943 | +20.9% |
| Cash at bank and in hand | 54/58 | €5,938 | €24,081 | +€18,143 | +305.5% |
| Deferred charges and accrued income | 490/1 | €17,700 | €4,500 | -€13,200 | -74.6% |
| Total equity and liabilities | 10/49 | €502,416 | €492,133 | -€10,283 | -2.0% |
| Equity | 10/15 | €13,935 | €27,747 | +€13,812 | +99.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €8,935 | €22,747 | +€13,812 | +154.6% |
| Distributable reserves | 133 | €8,935 | €22,747 | +€13,812 | +154.6% |
| Amounts payable | 17/49 | €488,480 | €464,385 | -€24,095 | -4.9% |
| Amounts payable after more than one year | 17 | €372,861 | €440,811 | +€67,951 | +18.2% |
| Financial debts | 170/4 | €372,861 | €440,811 | +€67,951 | +18.2% |
| Amounts payable within one year | 42/48 | €115,379 | €23,574 | -€91,805 | -79.6% |
| Current portion of amounts payable after more than one year | 42 | €22,590 | €23,060 | +€470 | +2.1% |
| Trade debts | 44 | - | €410 | +€410 | |
| Suppliers | 440/4 | - | €410 | +€410 | |
| Taxes, remuneration and social security | 45 | €1,778 | €104 | -€1,674 | -94.2% |
| Taxes | 450/3 | €1,778 | €104 | -€1,674 | -94.2% |
| Other amounts payable | 47/48 | €91,011 | - | -€91,011 | |
| Accrued charges and deferred income | 492/3 | €241 | - | -€241 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,226 | €15,226 | = | 0.0% |
| Other operating charges | 640/8 | €4,939 | €5,209 | +€271 | +5.5% |
| Gross operating margin | 9900 | €47,048 | €47,034 | -€14 | 0.0% |
| Operating profit (loss) | 9901 | €26,883 | €26,598 | -€285 | -1.1% |
| Financial charges | 65/66B | €8,688 | €8,183 | -€506 | -5.8% |
| Recurring financial charges | 65 | €8,688 | €8,183 | -€506 | -5.8% |
| Profit (loss) for the period before taxes | 9903 | €18,195 | €18,416 | +€221 | +1.2% |
| Income taxes | 67/77 | €1,778 | €4,604 | +€2,826 | +158.9% |
| Profit (loss) for the period | 9904 | €16,416 | €13,812 | -€2,605 | -15.9% |
| Profit (loss) for the period to be appropriated | 9905 | €16,416 | €13,812 | -€2,605 | -15.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.