DIRK DE MEULEMEESTER: 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.
DIRK DE MEULEMEESTER
Largest movements
- Tangible fixed assets +€706,656
up €706,656 (+127%), from €556,794 to €1.3m
of which Land and buildings: +€724,866
- Cash -€324,217
down €324,217 (-83.6%), from €388,045 to €63,828
mainly Investment in fixed assets (net) (-€846,004) and Contributions, distributions and other (-€207,617)
- Receivables within one year +€18,099
up €18,099 (+75.3%), from €24,043 to €42,141
of which Other amounts receivable: +€18,881
- Debts after one year +€253,487
up €253,487 (+124%), from €204,820 to €458,307
- Tax, wage and social debts +€51,350
up €51,350 (+598%), from €8,589 to €59,939
of which Taxes: +€51,332
- Reserves +€41,828
up €41,828 (+6.4%), from €651,502 to €693,329
- Other debts +€24,712
up €24,712 (+52.8%), from €46,775 to €71,487
- Current portion of long-term debt +€15,188
up €15,188 (+37.2%), from €40,780 to €55,968
- Gross operating margin +€245,827
up €245,827 (+97.3%), from €252,649 to €498,475
- Depreciation +€67,553
up €67,553 (+94.1%), from €71,796 to €139,349
- Taxes +€31,547
up €31,547 (+59.4%), from €53,072 to €84,619
- Financial income +€21,742
up €21,742 (+430%), from €5,056 to €26,798
- Financial charges +€20,475
up €20,475 (+358%), from €5,724 to €26,199
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 | €972,429 | €1,374,033 | +€401,603 | +41.3% |
| Fixed assets | 21/28 | €556,794 | €1,263,450 | +€706,656 | +127% |
| Tangible fixed assets | 22/27 | €556,794 | €1,263,450 | +€706,656 | +127% |
| Land and buildings | 22 | €349,856 | €1,074,722 | +€724,866 | +207% |
| Plant, machinery and equipment | 23 | €2,947 | €4,297 | +€1,350 | +45.8% |
| Furniture and vehicles | 24 | €91,121 | €64,504 | -€26,617 | -29.2% |
| Other tangible fixed assets | 26 | €112,870 | €119,927 | +€7,057 | +6.3% |
| Current assets | 29/58 | €415,635 | €110,583 | -€305,052 | -73.4% |
| Amounts receivable within one year | 40/41 | €24,043 | €42,141 | +€18,099 | +75.3% |
| Trade receivables | 40 | €1,021 | €239 | -€782 | -76.6% |
| Other amounts receivable | 41 | €23,021 | €41,902 | +€18,881 | +82.0% |
| Cash at bank and in hand | 54/58 | €388,045 | €63,828 | -€324,217 | -83.6% |
| Deferred charges and accrued income | 490/1 | €3,547 | €4,614 | +€1,066 | +30.1% |
| Total equity and liabilities | 10/49 | €972,429 | €1,374,033 | +€401,603 | +41.3% |
| Equity | 10/15 | €663,902 | €705,729 | +€41,828 | +6.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €651,502 | €693,329 | +€41,828 | +6.4% |
| Distributable reserves | 133 | €651,502 | €693,329 | +€41,828 | +6.4% |
| Amounts payable | 17/49 | €308,528 | €668,303 | +€359,776 | +117% |
| Amounts payable after more than one year | 17 | €204,820 | €458,307 | +€253,487 | +124% |
| Financial debts | 170/4 | €204,820 | €458,307 | +€253,487 | +124% |
| Amounts payable within one year | 42/48 | €100,642 | €206,929 | +€106,287 | +106% |
| Current portion of amounts payable after more than one year | 42 | €40,780 | €55,968 | +€15,188 | +37.2% |
| Trade debts | 44 | €4,498 | €19,535 | +€15,037 | +334% |
| Suppliers | 440/4 | €4,498 | €19,535 | +€15,037 | +334% |
| Taxes, remuneration and social security | 45 | €8,589 | €59,939 | +€51,350 | +598% |
| Taxes | 450/3 | €5,883 | €57,216 | +€51,332 | +873% |
| Remuneration and social security | 454/9 | €2,706 | €2,724 | +€18 | +0.7% |
| Other amounts payable | 47/48 | €46,775 | €71,487 | +€24,712 | +52.8% |
| Accrued charges and deferred income | 492/3 | €3,066 | €3,067 | +€1 | 0.0% |
| Non-recurring operating income | 76A | - | €104,881 | +€104,881 | |
| Remuneration, social security and pensions | 62 | €6,239 | - | -€6,239 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,796 | €139,349 | +€67,553 | +94.1% |
| Other operating charges | 640/8 | €9,204 | €25,662 | +€16,458 | +179% |
| Gross operating margin | 9900 | €252,649 | €498,475 | +€245,827 | +97.3% |
| Operating profit (loss) | 9901 | €165,410 | €333,465 | +€168,055 | +102% |
| Financial income | 75/76B | €5,056 | €26,798 | +€21,742 | +430% |
| Recurring financial income | 75 | €5,056 | €26,798 | +€21,742 | +430% |
| Financial charges | 65/66B | €5,724 | €26,199 | +€20,475 | +358% |
| Recurring financial charges | 65 | €5,724 | €26,199 | +€20,475 | +358% |
| Profit (loss) for the period before taxes | 9903 | €164,742 | €334,064 | +€169,323 | +103% |
| Income taxes | 67/77 | €53,072 | €84,619 | +€31,547 | +59.4% |
| Profit (loss) for the period | 9904 | €111,669 | €249,445 | +€137,775 | +123% |
| Profit (loss) for the period to be appropriated | 9905 | €111,669 | €249,445 | +€137,775 | +123% |
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 30 October 2026 via checked.be.