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
- Cash +€204,417
up €204,417 (+71.0%), from €288,108 to €492,525
mainly Net result for the year (+€617,736) and Depreciation (+€181,031)
- Receivables within one year -€148,157
down €148,157 (-11.6%), from €1.3m to €1.1m
of which Trade receivables: -€514,259
- Stocks and contracts +€129,922
up €129,922 (+23.8%), from €545,329 to €675,251
- Reserves +€445,216
up €445,216 (+18.0%), from €2.5m to €2.9m
of which Distributable reserves: +€445,216
- Provisions -€176,425
down €176,425 (-70.7%), from €249,587 to €73,162
- Other debts +€169,740
up €169,740 (+43.4%), from €390,721 to €560,461
- Tax, wage and social debts -€142,303
down €142,303 (-84.9%), from €167,563 to €25,261
of which Taxes: -€137,525
- Trade debts -€87,264
down €87,264 (-18.2%), from €479,354 to €392,090
- Gross operating margin -€274,969
down €274,969 (-17.0%), from €1.6m to €1.3m
- Provisions -€101,144
down €101,144 (-58.3%), from €173,591 to €72,447
- Taxes -€75,226
down €75,226 (-20.5%), from €366,081 to €290,856
- Depreciation +€60,387
up €60,387 (+50.1%), from €120,645 to €181,031
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 | €3,892,097 | €4,091,412 | +€199,315 | +5.1% |
| Fixed assets | 21/28 | €676,860 | €694,712 | +€17,853 | +2.6% |
| Tangible fixed assets | 22/27 | €676,798 | €694,650 | +€17,853 | +2.6% |
| Land and buildings | 22 | €492,643 | €431,897 | -€60,746 | -12.3% |
| Plant, machinery and equipment | 23 | €135,157 | €130,209 | -€4,948 | -3.7% |
| Furniture and vehicles | 24 | €48,997 | €132,544 | +€83,547 | +170.5% |
| Financial fixed assets | 28 | €62 | €62 | = | 0.0% |
| Current assets | 29/58 | €3,215,238 | €3,396,700 | +€181,462 | +5.6% |
| Stocks and contracts in progress | 3 | €545,329 | €675,251 | +€129,922 | +23.8% |
| Stocks | 30/36 | €545,329 | €675,251 | +€129,922 | +23.8% |
| Amounts receivable within one year | 40/41 | €1,273,695 | €1,125,538 | -€148,157 | -11.6% |
| Trade receivables | 40 | €1,038,620 | €524,361 | -€514,259 | -49.5% |
| Other amounts receivable | 41 | €235,074 | €601,176 | +€366,102 | +155.7% |
| Current investments | 50/53 | €1,099,771 | €1,101,252 | +€1,481 | +0.1% |
| Cash at bank and in hand | 54/58 | €288,108 | €492,525 | +€204,417 | +71.0% |
| Deferred charges and accrued income | 490/1 | €8,335 | €2,133 | -€6,201 | -74.4% |
| Total equity and liabilities | 10/49 | €3,892,097 | €4,091,412 | +€199,315 | +5.1% |
| Equity | 10/15 | €2,555,002 | €3,000,219 | +€445,216 | +17.4% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €2,479,611 | €2,924,827 | +€445,216 | +18.0% |
| Non-distributable reserves | 130/1 | €25,500 | €25,500 | = | 0.0% |
| Legal reserve | 130 | €25,500 | €25,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €59,106 | €59,106 | = | 0.0% |
| Distributable reserves | 133 | €2,395,005 | €2,840,221 | +€445,216 | +18.6% |
| Profit (loss) carried forward | 14 | €392 | €392 | = | 0.0% |
| Provisions and deferred taxes | 16 | €249,587 | €73,162 | -€176,425 | -70.7% |
| Provisions for liabilities and charges | 160/5 | €249,587 | €73,162 | -€176,425 | -70.7% |
| Environmental obligations | 163 | €716 | €716 | = | 0.0% |
| Other liabilities and charges | 164/5 | €248,872 | €72,447 | -€176,425 | -70.9% |
| Amounts payable | 17/49 | €1,087,507 | €1,018,031 | -€69,476 | -6.4% |
| Amounts payable after more than one year | 17 | €7,500 | €0 | -€7,500 | -100.0% |
| Financial debts | 170/4 | €7,500 | €0 | -€7,500 | -100.0% |
| Amounts payable within one year | 42/48 | €1,080,007 | €1,018,031 | -€61,976 | -5.7% |
| Trade debts | 44 | €479,354 | €392,090 | -€87,264 | -18.2% |
| Suppliers | 440/4 | €479,354 | €392,090 | -€87,264 | -18.2% |
| Advances received on contracts in progress | 46 | €42,370 | €40,220 | -€2,150 | -5.1% |
| Taxes, remuneration and social security | 45 | €167,563 | €25,261 | -€142,303 | -84.9% |
| Taxes | 450/3 | €142,240 | €4,715 | -€137,525 | -96.7% |
| Remuneration and social security | 454/9 | €25,323 | €20,546 | -€4,778 | -18.9% |
| Other amounts payable | 47/48 | €390,721 | €560,461 | +€169,740 | +43.4% |
| Non-recurring operating income | 76A | €109,058 | €253,768 | +€144,710 | +132.7% |
| Remuneration, social security and pensions | 62 | €223,653 | €221,178 | -€2,476 | -1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €120,645 | €181,031 | +€60,387 | +50.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,116 | +€3,116 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €173,591 | €72,447 | -€101,144 | -58.3% |
| Other operating charges | 640/8 | €5,516 | €5,565 | +€48 | +0.9% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €1,617,648 | €1,342,679 | -€274,969 | -17.0% |
| Operating profit (loss) | 9901 | €1,094,243 | €859,343 | -€234,900 | -21.5% |
| Financial income | 75/76B | €91,345 | €81,514 | -€9,831 | -10.8% |
| Recurring financial income | 75 | €91,345 | €81,514 | -€9,831 | -10.8% |
| Financial charges | 65/66B | €29,333 | €32,265 | +€2,932 | +10.0% |
| Recurring financial charges | 65 | €29,333 | €32,265 | +€2,932 | +10.0% |
| Profit (loss) for the period before taxes | 9903 | €1,156,255 | €908,592 | -€247,663 | -21.4% |
| Income taxes | 67/77 | €366,081 | €290,856 | -€75,226 | -20.5% |
| Profit (loss) for the period | 9904 | €790,174 | €617,736 | -€172,438 | -21.8% |
| Profit (loss) for the period to be appropriated | 9905 | €790,174 | €617,736 | -€172,438 | -21.8% |
Source: filed annual accounts (NBB), fiscal years ended 29 February 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.