Dr. Alexander Meirschaert: what changed
Dr. Alexander Meirschaert
Largest movements
- Current investments -€50,000
no longer reported in 2025 (was €50,000)
- Tangible fixed assets +€37,603
up €37,603 (+305%), from €12,334 to €49,937
of which Furniture and vehicles: +€37,740
- Cash +€8,082
up €8,082 (+18.8%), from €42,999 to €51,081
mainly Net result for the year (+€79,277) and Current investments (+€50,000)
- Deferred charges and accrued income +€3,018
new in 2025: €3,018
- Receivables within one year +€2,321
up €2,321 (+21.1%), from €10,999 to €13,320
of which Other amounts receivable: +€1,431
- Other debts -€14,606
down €14,606 (-15.4%), from €95,143 to €80,538
- Accrued charges and deferred income +€8,474
new in 2025: €8,474
- Profit (loss) carried forward +€4,277
up €4,277 (+5,323%), from €80 to €4,357
- Trade debts +€4,101
up €4,101 (+6,869%), from €60 to €4,161
- Current portion of long-term debt -€1,456
no longer reported in 2025 (was €1,456)
- Gross operating margin -€7,059
down €7,059 (-5.1%), from €137,429 to €130,370
- Depreciation -€3,919
down €3,919 (-27.9%), from €14,036 to €10,118
- Financial income +€1,579
up €1,579 (+1,838%), from €86 to €1,665
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €119,332 | €120,356 | +€1,024 | +0.9% |
| Fixed assets | 21/28 | €15,334 | €52,937 | +€37,603 | +245% |
| Tangible fixed assets | 22/27 | €12,334 | €49,937 | +€37,603 | +305% |
| Plant, machinery and equipment | 23 | €1,833 | €3,863 | +€2,029 | +111% |
| Furniture and vehicles | 24 | €4,364 | €42,104 | +€37,740 | +865% |
| Other tangible fixed assets | 26 | €6,137 | €3,971 | -€2,167 | -35.3% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €103,998 | €67,419 | -€36,579 | -35.2% |
| Amounts receivable within one year | 40/41 | €10,999 | €13,320 | +€2,321 | +21.1% |
| Trade receivables | 40 | €5,629 | €6,519 | +€890 | +15.8% |
| Other amounts receivable | 41 | €5,370 | €6,801 | +€1,431 | +26.6% |
| Current investments | 50/53 | €50,000 | - | -€50,000 | |
| Cash at bank and in hand | 54/58 | €42,999 | €51,081 | +€8,082 | +18.8% |
| Deferred charges and accrued income | 490/1 | - | €3,018 | +€3,018 | |
| Total equity and liabilities | 10/49 | €119,332 | €120,356 | +€1,024 | +0.9% |
| Equity | 10/15 | €18,680 | €22,957 | +€4,277 | +22.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €80 | €4,357 | +€4,277 | +5,323% |
| Amounts payable | 17/49 | €100,652 | €97,399 | -€3,253 | -3.2% |
| Amounts payable within one year | 42/48 | €100,652 | €88,925 | -€11,727 | -11.7% |
| Current portion of amounts payable after more than one year | 42 | €1,456 | - | -€1,456 | |
| Trade debts | 44 | €60 | €4,161 | +€4,101 | +6,869% |
| Suppliers | 440/4 | €60 | €4,161 | +€4,101 | +6,869% |
| Taxes, remuneration and social security | 45 | €3,993 | €4,226 | +€233 | +5.8% |
| Taxes | 450/3 | €1,628 | €1,595 | -€33 | -2.0% |
| Remuneration and social security | 454/9 | €2,365 | €2,631 | +€266 | +11.2% |
| Other amounts payable | 47/48 | €95,143 | €80,538 | -€14,606 | -15.4% |
| Accrued charges and deferred income | 492/3 | - | €8,474 | +€8,474 | |
| Non-recurring operating income | 76A | - | €14,853 | +€14,853 | |
| Remuneration, social security and pensions | 62 | €19,286 | €20,324 | +€1,038 | +5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,036 | €10,118 | -€3,919 | -27.9% |
| Other operating charges | 640/8 | €513 | €528 | +€14 | +2.8% |
| Gross operating margin | 9900 | €137,429 | €130,370 | -€7,059 | -5.1% |
| Operating profit (loss) | 9901 | €103,593 | €99,401 | -€4,193 | -4.0% |
| Financial income | 75/76B | €86 | €1,665 | +€1,579 | +1,838% |
| Recurring financial income | 75 | €86 | €1,665 | +€1,579 | +1,838% |
| Financial charges | 65/66B | €432 | €131 | -€301 | -69.7% |
| Recurring financial charges | 65 | €432 | €131 | -€301 | -69.7% |
| Profit (loss) for the period before taxes | 9903 | €103,247 | €100,935 | -€2,312 | -2.2% |
| Income taxes | 67/77 | €22,061 | €21,658 | -€403 | -1.8% |
| Profit (loss) for the period | 9904 | €81,186 | €79,277 | -€1,909 | -2.4% |
| Profit (loss) for the period to be appropriated | 9905 | €81,186 | €79,277 | -€1,909 | -2.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.