DR. DIRK VANMEERT: 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.
DR. DIRK VANMEERT
Largest movements
- Cash -€77,568
down €77,568 (-92.9%), from €83,459 to €5,891
mainly Debts after one year (-€36,188) and Net result for the year (-€28,885)
- Tangible fixed assets -€24,458
down €24,458 (-9.4%), from €260,909 to €236,452
of which Land and buildings: -€20,738
- Debts after one year -€36,188
down €36,188 (-64.4%), from €56,178 to €19,990
of which Financial debts: -€56,178
- Reserves -€28,885
down €28,885 (-12.9%), from €224,476 to €195,591
- Current portion of long-term debt -€18,469
no longer reported in 2025 (was €18,469)
- Other debts -€17,629
no longer reported in 2025 (was €17,629)
- Gross operating margin -€62,445
down €62,445 (-88.7%), from €70,386 to €7,941
- Taxes -€12,404
down €12,404 (-97.3%), from €12,752 to €348
- Financial charges +€1,547
up €1,547 (+31.7%), from €4,876 to €6,423
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 | €348,418 | €243,836 | -€104,582 | -30.0% |
| Fixed assets | 21/28 | €260,909 | €236,452 | -€24,458 | -9.4% |
| Tangible fixed assets | 22/27 | €260,909 | €236,452 | -€24,458 | -9.4% |
| Land and buildings | 22 | €156,442 | €135,704 | -€20,738 | -13.3% |
| Plant, machinery and equipment | 23 | €5,466 | €507 | -€4,959 | -90.7% |
| Furniture and vehicles | 24 | €1,234 | €2,474 | +€1,240 | +100% |
| Other tangible fixed assets | 26 | €97,767 | €97,767 | = | 0.0% |
| Current assets | 29/58 | €87,508 | €7,384 | -€80,124 | -91.6% |
| Cash at bank and in hand | 54/58 | €83,459 | €5,891 | -€77,568 | -92.9% |
| Deferred charges and accrued income | 490/1 | €4,049 | €1,493 | -€2,556 | -63.1% |
| Total equity and liabilities | 10/49 | €348,418 | €243,836 | -€104,582 | -30.0% |
| Equity | 10/15 | €244,476 | €215,591 | -€28,885 | -11.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €224,476 | €195,591 | -€28,885 | -12.9% |
| Distributable reserves | 133 | €224,476 | €195,591 | -€28,885 | -12.9% |
| Amounts payable | 17/49 | €103,941 | €28,244 | -€75,697 | -72.8% |
| Amounts payable after more than one year | 17 | €56,178 | €19,990 | -€36,188 | -64.4% |
| Financial debts | 170/4 | €56,178 | - | -€56,178 | |
| Other amounts payable | 178/9 | - | €19,990 | +€19,990 | |
| Amounts payable within one year | 42/48 | €47,763 | €8,255 | -€39,509 | -82.7% |
| Current portion of amounts payable after more than one year | 42 | €18,469 | - | -€18,469 | |
| Trade debts | 44 | €426 | €155 | -€271 | -63.7% |
| Suppliers | 440/4 | €426 | €155 | -€271 | -63.7% |
| Taxes, remuneration and social security | 45 | €11,240 | €8,100 | -€3,140 | -27.9% |
| Taxes | 450/3 | €11,240 | €8,100 | -€3,140 | -27.9% |
| Other amounts payable | 47/48 | €17,629 | - | -€17,629 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,286 | €27,168 | -€118 | -0.4% |
| Other operating charges | 640/8 | €3,207 | €2,887 | -€320 | -10.0% |
| Gross operating margin | 9900 | €70,386 | €7,941 | -€62,445 | -88.7% |
| Operating profit (loss) | 9901 | €39,893 | -€22,114 | -€62,007 | |
| Financial income | 75/76B | €20 | €0 | -€20 | -99.9% |
| Recurring financial income | 75 | €20 | €0 | -€20 | -99.9% |
| Financial charges | 65/66B | €4,876 | €6,423 | +€1,547 | +31.7% |
| Recurring financial charges | 65 | €4,876 | €6,423 | +€1,547 | +31.7% |
| Profit (loss) for the period before taxes | 9903 | €35,038 | -€28,537 | -€63,575 | |
| Income taxes | 67/77 | €12,752 | €348 | -€12,404 | -97.3% |
| Profit (loss) for the period | 9904 | €22,286 | -€28,885 | -€51,171 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,286 | -€28,885 | -€51,171 |
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.