De Merode: 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 Merode
Largest movements
- Tangible fixed assets -€45,388
down €45,388 (-3.4%), from €1.4m to €1.3m
of which Land and buildings: -€45,388
- Other debts -€230,030
down €230,030 (-96.1%), from €239,281 to €9,251
- Debts after one year +€167,130
up €167,130 (+16.4%), from €1.0m to €1.2m
- Reserves +€36,358
up €36,358 (+93.9%), from €38,721 to €75,080
- Gross operating margin +€82,829
up €82,829 (+141.5%), from €58,554 to €141,383
- Depreciation +€37,473
up €37,473 (+347.1%), from €10,795 to €48,268
- Taxes +€4,311
up €4,311 (+248.8%), from €1,733 to €6,044
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 | €1,357,267 | €1,324,166 | -€33,101 | -2.4% |
| Fixed assets | 21/28 | €1,351,859 | €1,306,471 | -€45,388 | -3.4% |
| Tangible fixed assets | 22/27 | €1,351,859 | €1,306,471 | -€45,388 | -3.4% |
| Land and buildings | 22 | €1,351,859 | €1,306,471 | -€45,388 | -3.4% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Current assets | 29/58 | €5,408 | €17,695 | +€12,287 | +227.2% |
| Amounts receivable within one year | 40/41 | €80 | €120 | +€40 | +50.0% |
| Trade receivables | 40 | €80 | €120 | +€40 | +50.0% |
| Cash at bank and in hand | 54/58 | €4,583 | €14,699 | +€10,116 | +220.7% |
| Deferred charges and accrued income | 490/1 | €746 | €2,876 | +€2,131 | +285.8% |
| Total equity and liabilities | 10/49 | €1,357,267 | €1,324,166 | -€33,101 | -2.4% |
| Equity | 10/15 | €44,721 | €81,080 | +€36,358 | +81.3% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €38,721 | €75,080 | +€36,358 | +93.9% |
| Distributable reserves | 133 | €38,721 | €75,080 | +€36,358 | +93.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €1,312,546 | €1,243,087 | -€69,459 | -5.3% |
| Amounts payable after more than one year | 17 | €1,020,766 | €1,187,896 | +€167,130 | +16.4% |
| Financial debts | 170/4 | €1,020,766 | €1,187,896 | +€167,130 | +16.4% |
| Amounts payable within one year | 42/48 | €290,280 | €55,191 | -€235,089 | -81.0% |
| Current portion of amounts payable after more than one year | 42 | €38,795 | €39,870 | +€1,075 | +2.8% |
| Trade debts | 44 | €8,984 | €26 | -€8,958 | -99.7% |
| Suppliers | 440/4 | €8,984 | €26 | -€8,958 | -99.7% |
| Taxes, remuneration and social security | 45 | €3,220 | €6,044 | +€2,824 | +87.7% |
| Taxes | 450/3 | €3,220 | €6,044 | +€2,824 | +87.7% |
| Other amounts payable | 47/48 | €239,281 | €9,251 | -€230,030 | -96.1% |
| Accrued charges and deferred income | 492/3 | €1,500 | €0 | -€1,500 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,795 | €48,268 | +€37,473 | +347.1% |
| Other operating charges | 640/8 | €2,529 | €2,917 | +€388 | +15.3% |
| Gross operating margin | 9900 | €58,554 | €141,383 | +€82,829 | +141.5% |
| Operating profit (loss) | 9901 | €45,230 | €90,199 | +€44,969 | +99.4% |
| Financial charges | 65/66B | €26,170 | €26,402 | +€233 | +0.9% |
| Recurring financial charges | 65 | €26,170 | €26,402 | +€233 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | €19,060 | €63,796 | +€44,736 | +234.7% |
| Income taxes | 67/77 | €1,733 | €6,044 | +€4,311 | +248.8% |
| Profit (loss) for the period | 9904 | €17,327 | €57,752 | +€40,425 | +233.3% |
| Profit (loss) for the period to be appropriated | 9905 | €17,327 | €57,752 | +€40,425 | +233.3% |
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 11 October 2026 via checked.be.