Dirk Van Meulen: 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 Meulen
Largest movements
- Tangible fixed assets +€58,760
up €58,760 (+20.8%), from €282,659 to €341,419
- Cash -€5,995
down €5,995 (-95.8%), from €6,258 to €264
mainly Investment in fixed assets (net) (-€68,437) and Trade debts (-€46,966)
- Other debts +€104,242
up €104,242 (+7,202%), from €1,447 to €105,689
- Trade debts -€46,966
no longer reported in 2025 (was €46,966)
- Profit (loss) carried forward -€24,932
down €24,932 (-49.2%), from -€50,696 to -€75,628
- Debts after one year +€18,372
up €18,372 (+6.7%), from €273,673 to €292,045
- Depreciation -€39,393
down €39,393 (-80.3%), from €49,070 to €9,677
- Financial charges +€12,351
up €12,351 (+995%), from €1,242 to €13,592
- Gross operating margin -€673
down €673 (-282%), from -€239 to -€911
- Other operating charges +€605
up €605 (+414%), from €146 to €752
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 | €288,917 | €341,683 | +€52,765 | +18.3% |
| Fixed assets | 21/28 | €282,659 | €341,419 | +€58,760 | +20.8% |
| Tangible fixed assets | 22/27 | €282,659 | €341,419 | +€58,760 | +20.8% |
| Land and buildings | 22 | €282,659 | €341,419 | +€58,760 | +20.8% |
| Current assets | 29/58 | €6,258 | €264 | -€5,995 | -95.8% |
| Cash at bank and in hand | 54/58 | €6,258 | €264 | -€5,995 | -95.8% |
| Total equity and liabilities | 10/49 | €288,917 | €341,683 | +€52,765 | +18.3% |
| Equity | 10/15 | -€40,696 | -€65,628 | -€24,932 | -61.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€50,696 | -€75,628 | -€24,932 | -49.2% |
| Amounts payable | 17/49 | €329,613 | €407,311 | +€77,697 | +23.6% |
| Amounts payable after more than one year | 17 | €273,673 | €292,045 | +€18,372 | +6.7% |
| Financial debts | 170/4 | €273,673 | €292,045 | +€18,372 | +6.7% |
| Amounts payable within one year | 42/48 | €55,940 | €115,266 | +€59,325 | +106% |
| Current portion of amounts payable after more than one year | 42 | €7,527 | €9,577 | +€2,050 | +27.2% |
| Trade debts | 44 | €46,966 | - | -€46,966 | |
| Suppliers | 440/4 | €46,966 | - | -€46,966 | |
| Other amounts payable | 47/48 | €1,447 | €105,689 | +€104,242 | +7,202% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,070 | €9,677 | -€39,393 | -80.3% |
| Other operating charges | 640/8 | €146 | €752 | +€605 | +414% |
| Gross operating margin | 9900 | -€239 | -€911 | -€673 | -282% |
| Operating profit (loss) | 9901 | -€49,455 | -€11,340 | +€38,115 | +77.1% |
| Financial charges | 65/66B | €1,242 | €13,592 | +€12,351 | +995% |
| Recurring financial charges | 65 | €1,242 | €13,592 | +€12,351 | +995% |
| Profit (loss) for the period before taxes | 9903 | -€50,696 | -€24,932 | +€25,764 | +50.8% |
| Profit (loss) for the period | 9904 | -€50,696 | -€24,932 | +€25,764 | +50.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€50,696 | -€24,932 | +€25,764 | +50.8% |
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 15 October 2026 via checked.be.