De Meyer: 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.
What changed
De Meyer
NACE 25.110, Manufacture of metal structures and parts of structures
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€270,516
2024 · -€206,900+€477,416
Equity
€5.2m
2024 · €4.9m+€270,516
Cash
€1.8m
2024 · €2.2m-€411,413
Balance sheet total
€14.9m
2024 · €13.8m+€1.1m
Largest movements
Assets
- Receivables within one year +€1.2m
up €1.2m (+24.5%), from €5.1m to €6.3m
of which Trade receivables: +€1.1m
- Cash -€411,413
down €411,413 (-18.4%), from €2.2m to €1.8m
mainly Receivables within one year (-€1.2m) and Investment in fixed assets (net) (-€820,963)
- Receivables after one year +€298,803
new in 2025: €298,803
Equity and liabilities
- Trade debts +€1.8m
up €1.8m (+77.0%), from €2.3m to €4.1m
- Short-term financial debts -€754,565
down €754,565 (-29.6%), from €2.5m to €1.8m
- Profit (loss) carried forward +€270,516
up €270,516, from -€206,900 to €63,616
Income statement
- Turnover -€2.2m
down €2.2m (-8.3%), from €26.7m to €24.5m
- Goods and materials -€1.1m
down €1.1m (-10.0%), from €10.8m to €9.7m
of which Purchases: -€1.2m
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
-€206,900
Turnover
-€2.2m
Other operating income
-€265,012
Goods and materials
+€1.1m
Services and other goods
-€11,401
Staff costs
+€162,236
Depreciation
-€19,677
Provisions
+€11,754
Other operating charges
-€48,807
Other operating items
+€1.8m
Financial income
-€353
Financial charges
+€51,272
Taxes
-€85,103
Result 2025
€270,516
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.
From operations
+€1.1m
Investment
-€820,963
Financing
-€656,380
Cash 2024
€2.2m
From operations (derived)
+€1.1m
Net result for the year
+€270,516
Depreciation
+€822,299
Receivables after one year
-€298,803
Stocks and contracts
+€46,635
Receivables within one year
-€1.2m
Deferred charges and accrued income
-€9,999
Provisions
-€38,000
Trade debts
+€1.8m
Tax, wage and social debts
-€137,390
Other debts
+€950
Accrued charges and deferred income
-€116,785
Investment (derived)
-€820,963
Investment in fixed assets (net)
-€820,963
Financing
-€656,380
Debts after one year
+€8,472
Current portion of long-term debt
+€89,713
Short-term financial debts
-€754,565
Cash 2025
€1.8m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,802,523 | €14,890,182 | +€1.1m | +7.9% |
| Fixed assets | 21/28 | €3,631,737 | €3,630,401 | -€1,336 | 0.0% |
| Intangible fixed assets | 21 | €49,553 | €36,327 | -€13,227 | -26.7% |
| Tangible fixed assets | 22/27 | €3,542,589 | €3,554,480 | +€11,891 | +0.3% |
| Land and buildings | 22 | €930,870 | €870,135 | -€60,735 | -6.5% |
| Plant, machinery and equipment | 23 | €2,345,482 | €1,025,467 | -€1.3m | -56.3% |
| Furniture and vehicles | 24 | €266,237 | €534,670 | +€268,432 | +100.8% |
| Leasing and similar rights | 25 | - | €1,124,208 | +€1.1m | |
| Financial fixed assets | 28 | €39,595 | €39,595 | = | 0.0% |
| Affiliated companies | 280/1 | €23,090 | €23,090 | = | 0.0% |
| Participating interests | 280 | €23,090 | €23,090 | = | 0.0% |
| Other financial fixed assets | 284/8 | €16,505 | €16,505 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €16,505 | €16,505 | = | 0.0% |
| Current assets | 29/58 | €10,170,785 | €11,259,781 | +€1.1m | +10.7% |
| Amounts receivable after more than one year | 29 | - | €298,803 | +€298,803 | |
| Trade receivables | 290 | - | €298,803 | +€298,803 | |
| Stocks and contracts in progress | 3 | €2,649,285 | €2,602,650 | -€46,635 | -1.8% |
| Stocks | 30/36 | €490,629 | €456,881 | -€33,748 | -6.9% |
| Raw materials and consumables | 30/31 | €490,629 | €456,881 | -€33,748 | -6.9% |
| Contracts in progress | 37 | €2,158,656 | €2,145,769 | -€12,887 | -0.6% |
| Amounts receivable within one year | 40/41 | €5,055,427 | €6,293,668 | +€1.2m | +24.5% |
| Trade receivables | 40 | €4,494,493 | €5,633,435 | +€1.1m | +25.3% |
| Other amounts receivable | 41 | €560,934 | €660,233 | +€99,299 | +17.7% |
| Cash at bank and in hand | 54/58 | €2,235,630 | €1,824,217 | -€411,413 | -18.4% |
| Deferred charges and accrued income | 490/1 | €230,444 | €240,443 | +€9,999 | +4.3% |
| Total equity and liabilities | 10/49 | €13,802,523 | €14,890,182 | +€1.1m | +7.9% |
| Equity | 10/15 | €4,892,644 | €5,163,160 | +€270,516 | +5.5% |
| Contributions | 10/11 | €1,440,400 | €1,440,400 | = | 0.0% |
| Capital | 10 | €1,440,400 | €1,440,400 | = | 0.0% |
| Issued capital | 100 | €1,440,400 | €1,440,400 | = | 0.0% |
| Reserves | 13 | €3,659,144 | €3,659,144 | = | 0.0% |
| Non-distributable reserves | 130/1 | €144,040 | €144,040 | = | 0.0% |
| Legal reserve | 130 | €144,040 | €144,040 | = | 0.0% |
| Tax-exempt reserves | 132 | €11,646 | - | -€11,646 | |
| Distributable reserves | 133 | €3,503,457 | €3,515,104 | +€11,646 | +0.3% |
| Profit (loss) carried forward | 14 | -€206,900 | €63,616 | +€270,516 | |
| Provisions and deferred taxes | 16 | €266,154 | €228,154 | -€38,000 | -14.3% |
| Provisions for liabilities and charges | 160/5 | €266,154 | €228,154 | -€38,000 | -14.3% |
| Other liabilities and charges | 164/5 | €266,154 | €228,154 | -€38,000 | -14.3% |
| Amounts payable | 17/49 | €8,643,725 | €9,498,869 | +€855,144 | +9.9% |
| Amounts payable after more than one year | 17 | €1,646,148 | €1,654,620 | +€8,472 | +0.5% |
| Financial debts | 170/4 | €1,646,148 | €1,654,620 | +€8,472 | +0.5% |
| Leasing and similar obligations | 172 | €872,045 | €703,324 | -€168,721 | -19.3% |
| Credit institutions | 173 | €774,103 | €951,295 | +€177,193 | +22.9% |
| Amounts payable within one year | 42/48 | €6,712,702 | €7,676,159 | +€963,457 | +14.4% |
| Current portion of amounts payable after more than one year | 42 | €496,098 | €585,811 | +€89,713 | +18.1% |
| Financial debts | 43 | €2,546,090 | €1,791,525 | -€754,565 | -29.6% |
| Credit institutions | 430/8 | €2,546,090 | €1,791,525 | -€754,565 | -29.6% |
| Trade debts | 44 | €2,292,632 | €4,057,381 | +€1.8m | +77.0% |
| Suppliers | 440/4 | €2,292,632 | €4,057,381 | +€1.8m | +77.0% |
| Taxes, remuneration and social security | 45 | €1,370,930 | €1,233,540 | -€137,390 | -10.0% |
| Taxes | 450/3 | €266,384 | €204,082 | -€62,302 | -23.4% |
| Remuneration and social security | 454/9 | €1,104,546 | €1,029,458 | -€75,088 | -6.8% |
| Other amounts payable | 47/48 | €6,951 | €7,901 | +€950 | +13.7% |
| Accrued charges and deferred income | 492/3 | €284,875 | €168,090 | -€116,785 | -41.0% |
| Operating income | 70/76A | €25,510,789 | €24,848,021 | -€662,768 | -2.6% |
| Turnover | 70 | €26,688,698 | €24,463,447 | -€2.2m | -8.3% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€1,858,534 | -€12,887 | +€1.8m | +99.3% |
| Other operating income | 74 | €634,659 | €369,647 | -€265,012 | -41.8% |
| Non-recurring operating income | 76A | €45,966 | €27,813 | -€18,154 | -39.5% |
| Operating charges | 60/66A | €25,456,263 | €24,281,894 | -€1.2m | -4.6% |
| Goods for resale, raw materials and consumables | 60 | €10,770,113 | €9,689,108 | -€1.1m | -10.0% |
| Purchases | 600/8 | €10,881,696 | €9,655,360 | -€1.2m | -11.3% |
| Change in stocks: decrease (increase) | 609 | -€111,583 | €33,748 | +€145,331 | |
| Services and other goods | 61 | €5,829,969 | €5,841,370 | +€11,401 | +0.2% |
| Remuneration, social security and pensions | 62 | €7,990,417 | €7,828,181 | -€162,236 | -2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €802,623 | €822,299 | +€19,677 | +2.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€26,247 | -€38,000 | -€11,754 | -44.8% |
| Other operating charges | 640/8 | €89,387 | €138,194 | +€48,807 | +54.6% |
| Non-recurring operating charges | 66A | - | €742 | +€742 | |
| Operating profit (loss) | 9901 | €54,526 | €566,126 | +€511,600 | +938.3% |
| Financial income | 75/76B | €1,343 | €990 | -€353 | -26.3% |
| Recurring financial income | 75 | €1,343 | €990 | -€353 | -26.3% |
| Other financial income | 752/9 | €1,343 | €990 | -€353 | -26.3% |
| Financial charges | 65/66B | €255,908 | €204,637 | -€51,272 | -20.0% |
| Recurring financial charges | 65 | €255,908 | €204,637 | -€51,272 | -20.0% |
| Debt charges | 650 | €225,644 | €175,649 | -€49,996 | -22.2% |
| Other financial charges | 652/9 | €30,264 | €28,988 | -€1,276 | -4.2% |
| Profit (loss) for the period before taxes | 9903 | -€200,039 | €362,480 | +€562,518 | |
| Income taxes | 67/77 | €6,861 | €91,963 | +€85,103 | +1240.4% |
| Taxes | 670/3 | €6,861 | €91,963 | +€85,103 | +1240.4% |
| Profit (loss) for the period | 9904 | -€206,900 | €270,516 | +€477,416 | |
| Profit (loss) for the period to be appropriated | 9905 | -€206,900 | €270,516 | +€477,416 |
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 3 October 2026 via checked.be.