Dr. Lander Vander Meer: 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. Lander Vander Meer
Largest movements
- Receivables after one year +€100,000
new in 2025: €100,000
- Cash -€37,289
down €37,289 (-23.6%), from €157,878 to €120,589
mainly Receivables after one year (-€100,000) and Other debts (-€60,682)
- Tangible fixed assets -€16,573
down €16,573 (-24.9%), from €66,625 to €50,052
of which Furniture and vehicles: -€8,315
- Current investments -€12,691
down €12,691 (-74.9%), from €16,939 to €4,248
- Deferred charges and accrued income +€8,918
up €8,918, from €0 to €8,918
- Reserves +€99,923
up €99,923 (+67.8%), from €147,440 to €247,362
- Other debts -€60,682
down €60,682 (-81.9%), from €74,054 to €13,372
- Tax, wage and social debts -€10,648
down €10,648 (-88.7%), from €12,000 to €1,352
- Accrued charges and deferred income +€7,251
new in 2025: €7,251
- Trade debts +€4,890
up €4,890, from €0 to €4,890
- Gross operating margin +€20,803
up €20,803 (+16.3%), from €127,491 to €148,294
- Taxes +€5,372
up €5,372 (+22.9%), from €23,480 to €28,852
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 | €252,094 | €292,827 | +€40,733 | +16.2% |
| Fixed assets | 21/28 | €66,625 | €50,052 | -€16,573 | -24.9% |
| Tangible fixed assets | 22/27 | €66,625 | €50,052 | -€16,573 | -24.9% |
| Land and buildings | 22 | €26,542 | €20,877 | -€5,666 | -21.3% |
| Plant, machinery and equipment | 23 | €5,050 | €2,459 | -€2,592 | -51.3% |
| Furniture and vehicles | 24 | €35,032 | €26,716 | -€8,315 | -23.7% |
| Current assets | 29/58 | €185,469 | €242,775 | +€57,306 | +30.9% |
| Amounts receivable after more than one year | 29 | - | €100,000 | +€100,000 | |
| Other amounts receivable | 291 | - | €100,000 | +€100,000 | |
| Amounts receivable within one year | 40/41 | €10,652 | €9,020 | -€1,632 | -15.3% |
| Trade receivables | 40 | €1,632 | €0 | -€1,632 | -100% |
| Other amounts receivable | 41 | €9,020 | €9,020 | = | 0.0% |
| Current investments | 50/53 | €16,939 | €4,248 | -€12,691 | -74.9% |
| Cash at bank and in hand | 54/58 | €157,878 | €120,589 | -€37,289 | -23.6% |
| Deferred charges and accrued income | 490/1 | €0 | €8,918 | +€8,918 | |
| Total equity and liabilities | 10/49 | €252,094 | €292,827 | +€40,733 | +16.2% |
| Equity | 10/15 | €166,040 | €265,962 | +€99,923 | +60.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | - | -€18,600 | |
| Other | 1109/19 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €147,440 | €247,362 | +€99,923 | +67.8% |
| Distributable reserves | 133 | €147,440 | €247,362 | +€99,923 | +67.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €86,054 | €26,865 | -€59,190 | -68.8% |
| Amounts payable within one year | 42/48 | €86,054 | €19,614 | -€66,440 | -77.2% |
| Trade debts | 44 | €0 | €4,890 | +€4,890 | |
| Suppliers | 440/4 | €0 | €4,890 | +€4,890 | |
| Taxes, remuneration and social security | 45 | €12,000 | €1,352 | -€10,648 | -88.7% |
| Taxes | 450/3 | €12,000 | €1,352 | -€10,648 | -88.7% |
| Other amounts payable | 47/48 | €74,054 | €13,372 | -€60,682 | -81.9% |
| Accrued charges and deferred income | 492/3 | - | €7,251 | +€7,251 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,570 | €18,472 | -€1,099 | -5.6% |
| Other operating charges | 640/8 | €212 | €943 | +€731 | +345% |
| Gross operating margin | 9900 | €127,491 | €148,294 | +€20,803 | +16.3% |
| Operating profit (loss) | 9901 | €107,709 | €128,879 | +€21,170 | +19.7% |
| Financial charges | 65/66B | €106 | €104 | -€1 | -1.2% |
| Recurring financial charges | 65 | €106 | €104 | -€1 | -1.2% |
| Profit (loss) for the period before taxes | 9903 | €107,603 | €128,775 | +€21,172 | +19.7% |
| Income taxes | 67/77 | €23,480 | €28,852 | +€5,372 | +22.9% |
| Profit (loss) for the period | 9904 | €84,123 | €99,923 | +€15,800 | +18.8% |
| Profit (loss) for the period to be appropriated | 9905 | €84,123 | €99,923 | +€15,800 | +18.8% |
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 23 October 2026 via checked.be.