Dirk Van Maele: 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 Van Maele
Largest movements
- Tangible fixed assets -€106,513
down €106,513 (-8.2%), from €1.3m to €1.2m
of which Land and buildings: -€99,794
- Revaluation surpluses -€76,360
down €76,360 (-14.7%), from €517,805 to €441,445
- Debts after one year -€54,417
down €54,417 (-7.3%), from €743,944 to €689,527
- Profit (loss) carried forward +€44,540
up €44,540 (+24.0%), from -€185,244 to -€140,705
- Short-term financial debts -€27,231
down €27,231 (-36.4%), from €74,871 to €47,640
- Other operating charges +€1,505
up €1,505 (+9.6%), from €15,633 to €17,138
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 | €1,891,591 | €1,772,654 | -€118,937 | -6.3% |
| Fixed assets | 21/28 | €1,308,760 | €1,202,247 | -€106,513 | -8.1% |
| Tangible fixed assets | 22/27 | €1,306,528 | €1,200,015 | -€106,513 | -8.2% |
| Land and buildings | 22 | €1,297,812 | €1,198,019 | -€99,794 | -7.7% |
| Furniture and vehicles | 24 | €8,716 | €1,997 | -€6,719 | -77.1% |
| Financial fixed assets | 28 | €2,232 | €2,232 | = | 0.0% |
| Current assets | 29/58 | €582,831 | €570,406 | -€12,425 | -2.1% |
| Amounts receivable within one year | 40/41 | €582,822 | €569,054 | -€13,768 | -2.4% |
| Trade receivables | 40 | €18,623 | €1,413 | -€17,210 | -92.4% |
| Other amounts receivable | 41 | €564,198 | €567,641 | +€3,442 | +0.6% |
| Cash at bank and in hand | 54/58 | €9 | €1,333 | +€1,324 | +14,284% |
| Deferred charges and accrued income | 490/1 | - | €19 | +€19 | |
| Total equity and liabilities | 10/49 | €1,891,591 | €1,772,654 | -€118,937 | -6.3% |
| Equity | 10/15 | €658,653 | €626,832 | -€31,821 | -4.8% |
| Contributions | 10/11 | €318,592 | €318,592 | = | 0.0% |
| Revaluation surpluses | 12 | €517,805 | €441,445 | -€76,360 | -14.7% |
| Reserves | 13 | €7,500 | €7,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,500 | €7,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€185,244 | -€140,705 | +€44,540 | +24.0% |
| Amounts payable | 17/49 | €1,232,938 | €1,145,822 | -€87,117 | -7.1% |
| Amounts payable after more than one year | 17 | €743,944 | €689,527 | -€54,417 | -7.3% |
| Financial debts | 170/4 | €743,944 | €689,527 | -€54,417 | -7.3% |
| Amounts payable within one year | 42/48 | €488,994 | €456,294 | -€32,700 | -6.7% |
| Current portion of amounts payable after more than one year | 42 | €58,951 | €58,951 | = | 0.0% |
| Financial debts | 43 | €74,871 | €47,640 | -€27,231 | -36.4% |
| Credit institutions | 430/8 | €74,871 | €47,640 | -€27,231 | -36.4% |
| Trade debts | 44 | €17,459 | €866 | -€16,594 | -95.0% |
| Suppliers | 440/4 | €17,459 | €866 | -€16,594 | -95.0% |
| Taxes, remuneration and social security | 45 | €10,680 | €10,831 | +€151 | +1.4% |
| Taxes | 450/3 | €10,680 | €10,831 | +€151 | +1.4% |
| Other amounts payable | 47/48 | €327,032 | €338,006 | +€10,974 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €107,246 | €106,513 | -€734 | -0.7% |
| Other operating charges | 640/8 | €15,633 | €17,138 | +€1,505 | +9.6% |
| Gross operating margin | 9900 | €114,602 | €115,396 | +€795 | +0.7% |
| Operating profit (loss) | 9901 | -€8,277 | -€8,254 | +€23 | +0.3% |
| Financial charges | 65/66B | €24,146 | €23,567 | -€579 | -2.4% |
| Recurring financial charges | 65 | €24,146 | €23,567 | -€579 | -2.4% |
| Profit (loss) for the period before taxes | 9903 | -€32,423 | -€31,821 | +€602 | +1.9% |
| Profit (loss) for the period | 9904 | -€32,423 | -€31,821 | +€602 | +1.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€32,423 | -€31,821 | +€602 | +1.9% |
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 19 October 2026 via checked.be.