Dr. Roel Mestrum: what changed
Dr. Roel Mestrum
Largest movements
- Cash -€97,865
down €97,865 (-94.6%), from €103,420 to €5,555
mainly Contributions, distributions and other (-€293,243) and Tax, wage and social debts (-€3,196)
- Intangible fixed assets -€33,867
no longer reported in 2025 (was €33,867)
- Reserves -€168,731
down €168,731 (-57.5%), from €293,243 to €124,512
- Other debts +€38,776
up €38,776 (+350%), from €11,064 to €49,840
- Tax, wage and social debts -€3,196
no longer reported in 2025 (was €3,196)
- Depreciation -€59,810
down €59,810 (-63.0%), from €94,863 to €35,054
- Taxes +€14,929
up €14,929 (+73.5%), from €20,302 to €35,231
- Financial charges -€3,052
down €3,052 (-50.7%), from €6,025 to €2,973
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 | €315,002 | €181,851 | -€133,151 | -42.3% |
| Fixed assets | 21/28 | €36,460 | €1,407 | -€35,054 | -96.1% |
| Intangible fixed assets | 21 | €33,867 | - | -€33,867 | |
| Tangible fixed assets | 22/27 | €2,593 | €1,407 | -€1,186 | -45.7% |
| Plant, machinery and equipment | 23 | €1,746 | €1,390 | -€356 | -20.4% |
| Furniture and vehicles | 24 | €847 | €17 | -€830 | -98.1% |
| Current assets | 29/58 | €278,542 | €180,445 | -€98,097 | -35.2% |
| Amounts receivable within one year | 40/41 | €167,862 | €170,050 | +€2,187 | +1.3% |
| Trade receivables | 40 | €897 | €3,850 | +€2,953 | +329% |
| Other amounts receivable | 41 | €166,965 | €166,199 | -€766 | -0.5% |
| Cash at bank and in hand | 54/58 | €103,420 | €5,555 | -€97,865 | -94.6% |
| Deferred charges and accrued income | 490/1 | €7,260 | €4,840 | -€2,420 | -33.3% |
| Total equity and liabilities | 10/49 | €315,002 | €181,851 | -€133,151 | -42.3% |
| Equity | 10/15 | €300,743 | €132,012 | -€168,731 | -56.1% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €293,243 | €124,512 | -€168,731 | -57.5% |
| Distributable reserves | 133 | €293,243 | €124,512 | -€168,731 | -57.5% |
| Amounts payable | 17/49 | €14,260 | €49,840 | +€35,580 | +250% |
| Amounts payable within one year | 42/48 | €14,260 | €49,840 | +€35,580 | +250% |
| Taxes, remuneration and social security | 45 | €3,196 | - | -€3,196 | |
| Taxes | 450/3 | €3,196 | - | -€3,196 | |
| Other amounts payable | 47/48 | €11,064 | €49,840 | +€38,776 | +350% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,863 | €35,054 | -€59,810 | -63.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €200,169 | €198,169 | -€2,001 | -1.0% |
| Operating profit (loss) | 9901 | €104,919 | €162,715 | +€57,797 | +55.1% |
| Financial charges | 65/66B | €6,025 | €2,973 | -€3,052 | -50.7% |
| Recurring financial charges | 65 | €6,025 | €2,973 | -€3,052 | -50.7% |
| Profit (loss) for the period before taxes | 9903 | €98,894 | €159,742 | +€60,849 | +61.5% |
| Income taxes | 67/77 | €20,302 | €35,231 | +€14,929 | +73.5% |
| Profit (loss) for the period | 9904 | €78,592 | €124,512 | +€45,919 | +58.4% |
| Profit (loss) for the period to be appropriated | 9905 | €78,592 | €124,512 | +€45,919 | +58.4% |
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 7 November 2026 via checked.be.