Dr. Greet Mentens: 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. Greet Mentens
Largest movements
- Tangible fixed assets -€8,623
down €8,623 (-3.6%), from €241,015 to €232,392
of which Land and buildings: -€12,201
- Debts after one year -€17,962
down €17,962 (-12.3%), from €145,606 to €127,644
- Reserves +€11,527
up €11,527 (+12.8%), from €89,751 to €101,278
- Other debts -€5,062
down €5,062 (-38.8%), from €13,041 to €7,979
- Gross operating margin -€18,593
down €18,593 (-15.9%), from €117,189 to €98,596
- Taxes -€6,350
down €6,350 (-48.8%), from €13,018 to €6,668
- Staff costs +€1,254
up €1,254 (+2.5%), from €49,654 to €50,907
- Other operating charges +€1,198
up €1,198 (+94.7%), from €1,265 to €2,463
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 | €314,880 | €306,669 | -€8,211 | -2.6% |
| Fixed assets | 21/28 | €241,015 | €232,392 | -€8,623 | -3.6% |
| Tangible fixed assets | 22/27 | €241,015 | €232,392 | -€8,623 | -3.6% |
| Land and buildings | 22 | €203,961 | €191,761 | -€12,201 | -6.0% |
| Plant, machinery and equipment | 23 | €35,431 | €36,092 | +€661 | +1.9% |
| Furniture and vehicles | 24 | €1,623 | €4,540 | +€2,917 | +180% |
| Current assets | 29/58 | €73,865 | €74,277 | +€412 | +0.6% |
| Amounts receivable within one year | 40/41 | €6,999 | €8,775 | +€1,776 | +25.4% |
| Trade receivables | 40 | €6,999 | €5,441 | -€1,558 | -22.3% |
| Other amounts receivable | 41 | €0 | €3,334 | +€3,334 | |
| Current investments | 50/53 | €3,500 | €3,500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €61,546 | €62,002 | +€456 | +0.7% |
| Deferred charges and accrued income | 490/1 | €1,820 | €0 | -€1,820 | -100% |
| Total equity and liabilities | 10/49 | €314,880 | €306,669 | -€8,211 | -2.6% |
| Equity | 10/15 | €108,351 | €119,878 | +€11,527 | +10.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €89,751 | €101,278 | +€11,527 | +12.8% |
| Distributable reserves | 133 | €89,751 | €101,278 | +€11,527 | +12.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €206,530 | €186,792 | -€19,738 | -9.6% |
| Amounts payable after more than one year | 17 | €145,606 | €127,644 | -€17,962 | -12.3% |
| Financial debts | 170/4 | €145,606 | €127,644 | -€17,962 | -12.3% |
| Amounts payable within one year | 42/48 | €60,924 | €59,148 | -€1,776 | -2.9% |
| Current portion of amounts payable after more than one year | 42 | €23,550 | €25,767 | +€2,217 | +9.4% |
| Financial debts | 43 | €1,696 | €0 | -€1,696 | -100% |
| Credit institutions | 430/8 | €1,696 | €0 | -€1,696 | -100% |
| Trade debts | 44 | €7,420 | €9,929 | +€2,508 | +33.8% |
| Suppliers | 440/4 | €7,420 | €9,929 | +€2,508 | +33.8% |
| Taxes, remuneration and social security | 45 | €15,216 | €15,472 | +€256 | +1.7% |
| Taxes | 450/3 | €5,018 | €5,018 | = | 0.0% |
| Remuneration and social security | 454/9 | €10,199 | €10,455 | +€256 | +2.5% |
| Other amounts payable | 47/48 | €13,041 | €7,979 | -€5,062 | -38.8% |
| Remuneration, social security and pensions | 62 | €49,654 | €50,907 | +€1,254 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,472 | €23,458 | +€986 | +4.4% |
| Other operating charges | 640/8 | €1,265 | €2,463 | +€1,198 | +94.7% |
| Gross operating margin | 9900 | €117,189 | €98,596 | -€18,593 | -15.9% |
| Operating profit (loss) | 9901 | €43,798 | €21,767 | -€22,031 | -50.3% |
| Financial income | 75/76B | €8 | €18 | +€10 | +117% |
| Recurring financial income | 75 | €8 | €18 | +€10 | +117% |
| Financial charges | 65/66B | €3,202 | €3,590 | +€388 | +12.1% |
| Recurring financial charges | 65 | €3,202 | €3,590 | +€388 | +12.1% |
| Profit (loss) for the period before taxes | 9903 | €40,604 | €18,195 | -€22,409 | -55.2% |
| Income taxes | 67/77 | €13,018 | €6,668 | -€6,350 | -48.8% |
| Profit (loss) for the period | 9904 | €27,586 | €11,527 | -€16,059 | -58.2% |
| Profit (loss) for the period to be appropriated | 9905 | €27,586 | €11,527 | -€16,059 | -58.2% |
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 17 October 2026 via checked.be.