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.
DE MEYER
Largest movements
- Tangible fixed assets -€36,028
down €36,028 (-20.4%), from €176,937 to €140,909
of which Furniture and vehicles: -€26,858
- Cash +€34,202
up €34,202 (+23.5%), from €145,326 to €179,528
mainly Net result for the year (+€45,807) and Depreciation (+€38,586)
- Stocks and contracts +€18,199
up €18,199 (+15.7%), from €115,600 to €133,799
- Trade debts +€19,078
up €19,078 (+117.3%), from €16,262 to €35,340
- Debts after one year -€17,463
down €17,463 (-100.0%), from €17,463 to €0
- Reserves +€15,807
up €15,807 (+4.5%), from €350,333 to €366,139
- Tax, wage and social debts +€12,351
up €12,351 (+29.3%), from €42,091 to €54,442
of which Taxes: +€13,950
- Current portion of long-term debt -€8,953
down €8,953 (-33.9%), from €26,415 to €17,463
- Staff costs -€27,445
down €27,445 (-12.7%), from €215,756 to €188,311
- Gross operating margin -€17,344
down €17,344 (-5.7%), from €304,527 to €287,183
- Taxes +€16,957
up €16,957 (+362.6%), from €4,677 to €21,634
- Depreciation +€4,573
up €4,573 (+13.4%), from €34,012 to €38,586
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 | €469,216 | €486,439 | +€17,223 | +3.7% |
| Fixed assets | 21/28 | €178,104 | €142,076 | -€36,028 | -20.2% |
| Tangible fixed assets | 22/27 | €176,937 | €140,909 | -€36,028 | -20.4% |
| Land and buildings | 22 | €93,490 | €86,388 | -€7,102 | -7.6% |
| Plant, machinery and equipment | 23 | €14,106 | €12,038 | -€2,068 | -14.7% |
| Furniture and vehicles | 24 | €69,341 | €42,483 | -€26,858 | -38.7% |
| Financial fixed assets | 28 | €1,167 | €1,167 | = | 0.0% |
| Current assets | 29/58 | €291,112 | €344,362 | +€53,251 | +18.3% |
| Stocks and contracts in progress | 3 | €115,600 | €133,799 | +€18,199 | +15.7% |
| Stocks | 30/36 | €115,600 | €133,799 | +€18,199 | +15.7% |
| Amounts receivable within one year | 40/41 | €23,465 | €24,204 | +€739 | +3.2% |
| Trade receivables | 40 | €8,709 | €15,223 | +€6,514 | +74.8% |
| Other amounts receivable | 41 | €14,756 | €8,981 | -€5,775 | -39.1% |
| Cash at bank and in hand | 54/58 | €145,326 | €179,528 | +€34,202 | +23.5% |
| Deferred charges and accrued income | 490/1 | €6,720 | €6,831 | +€111 | +1.6% |
| Total equity and liabilities | 10/49 | €469,216 | €486,439 | +€17,223 | +3.7% |
| Equity | 10/15 | €362,115 | €377,922 | +€15,807 | +4.4% |
| Contributions | 10/11 | €11,783 | €11,783 | = | 0.0% |
| Reserves | 13 | €350,333 | €366,139 | +€15,807 | +4.5% |
| Distributable reserves | 133 | €350,333 | €366,139 | +€15,807 | +4.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €107,100 | €108,517 | +€1,417 | +1.3% |
| Amounts payable after more than one year | 17 | €17,463 | €0 | -€17,463 | -100.0% |
| Financial debts | 170/4 | €17,463 | €0 | -€17,463 | -100.0% |
| Amounts payable within one year | 42/48 | €89,256 | €107,710 | +€18,454 | +20.7% |
| Current portion of amounts payable after more than one year | 42 | €26,415 | €17,463 | -€8,953 | -33.9% |
| Financial debts | 43 | €2,536 | €0 | -€2,536 | -100.0% |
| Credit institutions | 430/8 | €2,536 | €0 | -€2,536 | -100.0% |
| Trade debts | 44 | €16,262 | €35,340 | +€19,078 | +117.3% |
| Suppliers | 440/4 | €16,262 | €35,340 | +€19,078 | +117.3% |
| Advances received on contracts in progress | 46 | €1,951 | €465 | -€1,487 | -76.2% |
| Taxes, remuneration and social security | 45 | €42,091 | €54,442 | +€12,351 | +29.3% |
| Taxes | 450/3 | €6,692 | €20,642 | +€13,950 | +208.5% |
| Remuneration and social security | 454/9 | €35,399 | €33,800 | -€1,599 | -4.5% |
| Accrued charges and deferred income | 492/3 | €381 | €807 | +€425 | +111.6% |
| Remuneration, social security and pensions | 62 | €215,756 | €188,311 | -€27,445 | -12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,012 | €38,586 | +€4,573 | +13.4% |
| Other operating charges | 640/8 | €2,759 | €3,370 | +€611 | +22.1% |
| Gross operating margin | 9900 | €304,527 | €287,183 | -€17,344 | -5.7% |
| Operating profit (loss) | 9901 | €52,000 | €56,917 | +€4,917 | +9.5% |
| Financial income | 75/76B | €12,020 | €12,648 | +€628 | +5.2% |
| Recurring financial income | 75 | €12,020 | €12,648 | +€628 | +5.2% |
| Financial charges | 65/66B | €3,267 | €2,124 | -€1,143 | -35.0% |
| Recurring financial charges | 65 | €3,267 | €2,124 | -€1,143 | -35.0% |
| Profit (loss) for the period before taxes | 9903 | €60,753 | €67,440 | +€6,687 | +11.0% |
| Income taxes | 67/77 | €4,677 | €21,634 | +€16,957 | +362.6% |
| Profit (loss) for the period | 9904 | €56,076 | €45,807 | -€10,270 | -18.3% |
| Profit (loss) for the period to be appropriated | 9905 | €56,076 | €45,807 | -€10,270 | -18.3% |
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 8 October 2026 via checked.be.