DE MEULENAERE BART: 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 MEULENAERE BART
Largest movements
- Cash -€7,394
down €7,394 (-47.6%), from €15,523 to €8,129
mainly Trade debts (-€29,484) and Short-term financial debts (-€9,377)
- Receivables within one year +€7,017
up €7,017 (+52.3%), from €13,428 to €20,445
of which Trade receivables: +€5,169
- Tangible fixed assets -€3,506
down €3,506 (-31.7%), from €11,069 to €7,563
of which Plant, machinery and equipment: -€2,161
- Stocks and contracts +€790
up €790 (+10.8%), from €7,285 to €8,075
- Profit (loss) carried forward +€32,861
up €32,861 (+15.5%), from -€212,200 to -€179,339
- Trade debts -€29,484
down €29,484 (-18.2%), from €161,575 to €132,091
- Short-term financial debts -€9,377
no longer reported in 2025 (was €9,377)
- Current portion of long-term debt +€4,592
up €4,592 (+313%), from €1,467 to €6,059
- Accrued charges and deferred income -€1,321
down €1,321 (-76.8%), from €1,721 to €400
- Staff costs +€13,065
up €13,065 (+5.6%), from €235,394 to €248,459
- Other operating charges -€9,433
down €9,433 (-65.1%), from €14,480 to €5,047
- Gross operating margin -€5,035
down €5,035 (-1.6%), from €309,618 to €304,584
- Financial charges +€3,970
up €3,970 (+42.6%), from €9,322 to €13,292
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 | €47,305 | €44,212 | -€3,093 | -6.5% |
| Fixed assets | 21/28 | €11,069 | €7,563 | -€3,506 | -31.7% |
| Tangible fixed assets | 22/27 | €11,069 | €7,563 | -€3,506 | -31.7% |
| Land and buildings | 22 | €663 | - | -€663 | |
| Plant, machinery and equipment | 23 | €8,728 | €6,567 | -€2,161 | -24.8% |
| Furniture and vehicles | 24 | €1,678 | €996 | -€682 | -40.6% |
| Current assets | 29/58 | €36,236 | €36,648 | +€412 | +1.1% |
| Stocks and contracts in progress | 3 | €7,285 | €8,075 | +€790 | +10.8% |
| Stocks | 30/36 | €7,285 | €8,075 | +€790 | +10.8% |
| Amounts receivable within one year | 40/41 | €13,428 | €20,445 | +€7,017 | +52.3% |
| Trade receivables | 40 | €9,017 | €14,186 | +€5,169 | +57.3% |
| Other amounts receivable | 41 | €4,411 | €6,259 | +€1,848 | +41.9% |
| Cash at bank and in hand | 54/58 | €15,523 | €8,129 | -€7,394 | -47.6% |
| Total equity and liabilities | 10/49 | €47,305 | €44,212 | -€3,093 | -6.5% |
| Equity | 10/15 | -€190,200 | -€157,339 | +€32,861 | +17.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€212,200 | -€179,339 | +€32,861 | +15.5% |
| Amounts payable | 17/49 | €237,505 | €201,551 | -€35,955 | -15.1% |
| Amounts payable within one year | 42/48 | €235,784 | €201,151 | -€34,633 | -14.7% |
| Current portion of amounts payable after more than one year | 42 | €1,467 | €6,059 | +€4,592 | +313% |
| Financial debts | 43 | €9,377 | - | -€9,377 | |
| Credit institutions | 430/8 | €9,377 | - | -€9,377 | |
| Trade debts | 44 | €161,575 | €132,091 | -€29,484 | -18.2% |
| Suppliers | 440/4 | €161,575 | €132,091 | -€29,484 | -18.2% |
| Taxes, remuneration and social security | 45 | €63,364 | €63,001 | -€364 | -0.6% |
| Taxes | 450/3 | €44,285 | €43,029 | -€1,256 | -2.8% |
| Remuneration and social security | 454/9 | €19,079 | €19,972 | +€892 | +4.7% |
| Accrued charges and deferred income | 492/3 | €1,721 | €400 | -€1,321 | -76.8% |
| Remuneration, social security and pensions | 62 | €235,394 | €248,459 | +€13,065 | +5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,424 | €5,304 | -€2,120 | -28.6% |
| Other operating charges | 640/8 | €14,480 | €5,047 | -€9,433 | -65.1% |
| Gross operating margin | 9900 | €309,618 | €304,584 | -€5,035 | -1.6% |
| Operating profit (loss) | 9901 | €52,320 | €45,773 | -€6,547 | -12.5% |
| Financial income | 75/76B | €183 | €674 | +€491 | +269% |
| Recurring financial income | 75 | €183 | €674 | +€491 | +269% |
| Financial charges | 65/66B | €9,322 | €13,292 | +€3,970 | +42.6% |
| Recurring financial charges | 65 | €9,322 | €13,292 | +€3,970 | +42.6% |
| Profit (loss) for the period before taxes | 9903 | €43,181 | €33,156 | -€10,025 | -23.2% |
| Income taxes | 67/77 | €286 | €294 | +€8 | +3.0% |
| Profit (loss) for the period | 9904 | €42,895 | €32,861 | -€10,034 | -23.4% |
| Profit (loss) for the period to be appropriated | 9905 | €42,895 | €32,861 | -€10,034 | -23.4% |
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 29 October 2026 via checked.be.