Dr. Lien Mestdagh: 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. Lien Mestdagh
Largest movements
- Cash -€134,912
down €134,912 (-63.9%), from €211,014 to €76,102
mainly Contributions, distributions and other (-€288,322) and Tax, wage and social debts (-€12,068)
- Deferred charges and accrued income -€16,870
down €16,870 (-16.1%), from €105,030 to €88,160
- Profit (loss) carried forward -€148,822
down €148,822 (-100.0%), from €148,822 to €0
- Tax, wage and social debts -€12,068
down €12,068 (-73.7%), from €16,370 to €4,303
- Reserves +€10,232
up €10,232 (+7.3%), from €139,805 to €150,037
- Gross operating margin +€13,324
up €13,324 (+7.4%), from €181,058 to €194,382
- Taxes +€3,412
up €3,412 (+8.3%), from €40,891 to €44,303
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.
Cash bridge derived
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 | €316,238 | €165,256 | -€150,981 | -47.7% |
| Fixed assets | 21/28 | €194 | €995 | +€800 | +412.1% |
| Tangible fixed assets | 22/27 | €194 | €95 | -€100 | -51.3% |
| Furniture and vehicles | 24 | €194 | €95 | -€100 | -51.3% |
| Financial fixed assets | 28 | - | €900 | +€900 | |
| Current assets | 29/58 | €316,043 | €164,262 | -€151,782 | -48.0% |
| Cash at bank and in hand | 54/58 | €211,014 | €76,102 | -€134,912 | -63.9% |
| Deferred charges and accrued income | 490/1 | €105,030 | €88,160 | -€16,870 | -16.1% |
| Total equity and liabilities | 10/49 | €316,238 | €165,256 | -€150,981 | -47.7% |
| Equity | 10/15 | €294,627 | €156,037 | -€138,590 | -47.0% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €139,805 | €150,037 | +€10,232 | +7.3% |
| Distributable reserves | 133 | €139,805 | €150,037 | +€10,232 | +7.3% |
| Profit (loss) carried forward | 14 | €148,822 | €0 | -€148,822 | -100.0% |
| Amounts payable | 17/49 | €21,611 | €9,219 | -€12,392 | -57.3% |
| Amounts payable within one year | 42/48 | €21,611 | €9,219 | -€12,392 | -57.3% |
| Trade debts | 44 | €4,345 | €4,118 | -€227 | -5.2% |
| Suppliers | 440/4 | €4,345 | €4,118 | -€227 | -5.2% |
| Taxes, remuneration and social security | 45 | €16,370 | €4,303 | -€12,068 | -73.7% |
| Taxes | 450/3 | €16,370 | €4,303 | -€12,068 | -73.7% |
| Other amounts payable | 47/48 | €896 | €799 | -€97 | -10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €100 | €100 | = | 0.0% |
| Other operating charges | 640/8 | €169 | €172 | +€4 | +2.1% |
| Gross operating margin | 9900 | €181,058 | €194,382 | +€13,324 | +7.4% |
| Operating profit (loss) | 9901 | €180,790 | €194,110 | +€13,320 | +7.4% |
| Financial charges | 65/66B | €94 | €75 | -€19 | -20.2% |
| Recurring financial charges | 65 | €94 | €75 | -€19 | -20.2% |
| Profit (loss) for the period before taxes | 9903 | €180,696 | €194,035 | +€13,339 | +7.4% |
| Income taxes | 67/77 | €40,891 | €44,303 | +€3,412 | +8.3% |
| Profit (loss) for the period | 9904 | €139,805 | €149,732 | +€9,927 | +7.1% |
| Profit (loss) for the period to be appropriated | 9905 | €139,805 | €149,732 | +€9,927 | +7.1% |
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 10 October 2026 via checked.be.