DE WOLF MEISE: 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 WOLF MEISE
Largest movements
- Tangible fixed assets -€19,643
down €19,643 (-26.1%), from €75,157 to €55,514
of which Land and buildings: -€19,442
- Cash -€6,264
down €6,264 (-6.4%), from €98,544 to €92,280
mainly Tax, wage and social debts (-€13,975) and Debts after one year (-€7,607)
- Stocks and contracts +€3,443
up €3,443 (+7.4%), from €46,771 to €50,215
- Receivables within one year -€2,361
down €2,361 (-23.5%), from €10,062 to €7,702
of which Other amounts receivable: -€2,442
- Tax, wage and social debts -€13,975
no longer reported in 2025 (was €13,975)
- Debts after one year -€7,607
down €7,607 (-46.6%), from €16,315 to €8,707
- Profit (loss) carried forward -€6,272
down €6,272 (-9.7%), from €64,560 to €58,288
- Trade debts +€4,076
up €4,076 (+51.0%), from €7,995 to €12,070
- Gross operating margin -€17,981
down €17,981 (-36.8%), from €48,891 to €30,910
- Financial income -€12,538
down €12,538 (-82.6%), from €15,182 to €2,644
- Taxes -€11,528
down €11,528 (-97.6%), from €11,812 to €284
- Other operating charges +€7,303
up €7,303 (+86.6%), from €8,438 to €15,741
- Depreciation +€5,147
up €5,147 (+32.7%), from €15,752 to €20,899
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 | €230,535 | €205,710 | -€24,824 | -10.8% |
| Fixed assets | 21/28 | €75,157 | €55,514 | -€19,643 | -26.1% |
| Tangible fixed assets | 22/27 | €75,157 | €55,514 | -€19,643 | -26.1% |
| Land and buildings | 22 | €70,141 | €50,699 | -€19,442 | -27.7% |
| Plant, machinery and equipment | 23 | €3,397 | €2,579 | -€818 | -24.1% |
| Furniture and vehicles | 24 | €1,619 | €2,236 | +€616 | +38.1% |
| Current assets | 29/58 | €155,377 | €150,196 | -€5,182 | -3.3% |
| Stocks and contracts in progress | 3 | €46,771 | €50,215 | +€3,443 | +7.4% |
| Stocks | 30/36 | €46,771 | €50,215 | +€3,443 | +7.4% |
| Amounts receivable within one year | 40/41 | €10,062 | €7,702 | -€2,361 | -23.5% |
| Trade receivables | 40 | - | €81 | +€81 | |
| Other amounts receivable | 41 | €10,062 | €7,620 | -€2,442 | -24.3% |
| Cash at bank and in hand | 54/58 | €98,544 | €92,280 | -€6,264 | -6.4% |
| Total equity and liabilities | 10/49 | €230,535 | €205,710 | -€24,824 | -10.8% |
| Equity | 10/15 | €183,955 | €177,682 | -€6,272 | -3.4% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €100,395 | €100,395 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Distributable reserves | 133 | €98,495 | €98,495 | = | 0.0% |
| Profit (loss) carried forward | 14 | €64,560 | €58,288 | -€6,272 | -9.7% |
| Amounts payable | 17/49 | €46,580 | €28,028 | -€18,552 | -39.8% |
| Amounts payable after more than one year | 17 | €16,315 | €8,707 | -€7,607 | -46.6% |
| Financial debts | 170/4 | €16,315 | €8,707 | -€7,607 | -46.6% |
| Amounts payable within one year | 42/48 | €30,265 | €19,321 | -€10,945 | -36.2% |
| Trade debts | 44 | €7,995 | €12,070 | +€4,076 | +51.0% |
| Suppliers | 440/4 | €7,995 | €12,070 | +€4,076 | +51.0% |
| Advances received on contracts in progress | 46 | €612 | €1,167 | +€555 | +90.7% |
| Taxes, remuneration and social security | 45 | €13,975 | - | -€13,975 | |
| Taxes | 450/3 | €13,975 | - | -€13,975 | |
| Other amounts payable | 47/48 | €7,683 | €6,083 | -€1,600 | -20.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,752 | €20,899 | +€5,147 | +32.7% |
| Other operating charges | 640/8 | €8,438 | €15,741 | +€7,303 | +86.6% |
| Gross operating margin | 9900 | €48,891 | €30,910 | -€17,981 | -36.8% |
| Operating profit (loss) | 9901 | €24,702 | -€5,730 | -€30,431 | |
| Financial income | 75/76B | €15,182 | €2,644 | -€12,538 | -82.6% |
| Recurring financial income | 75 | €15,182 | €2,644 | -€12,538 | -82.6% |
| Financial charges | 65/66B | €4,222 | €2,903 | -€1,319 | -31.2% |
| Recurring financial charges | 65 | €4,222 | €2,903 | -€1,319 | -31.2% |
| Profit (loss) for the period before taxes | 9903 | €35,662 | -€5,988 | -€41,650 | |
| Income taxes | 67/77 | €11,812 | €284 | -€11,528 | -97.6% |
| Profit (loss) for the period | 9904 | €23,850 | -€6,272 | -€30,122 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,850 | -€6,272 | -€30,122 |
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.