Dr. Sacha Meeuws: 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. Sacha Meeuws
Largest movements
- Cash +€93,715
up €93,715 (+401%), from €23,389 to €117,104
mainly Net result for the year (+€219,732) and Tax, wage and social debts (+€14,852)
- Deferred charges and accrued income +€53,644
up €53,644 (+67.5%), from €79,500 to €133,144
- Receivables within one year -€4,176
no longer reported in 2025 (was €4,176)
- Profit (loss) carried forward +€129,379
up €129,379 (+134%), from €96,721 to €226,099
- Tax, wage and social debts +€14,852
up €14,852 (+83.0%), from €17,890 to €32,742
- Other debts -€5,395
down €5,395 (-67.9%), from €7,944 to €2,549
- Trade debts +€5,022
up €5,022 (+7,958%), from €63 to €5,085
- Gross operating margin +€180,346
up €180,346 (+151%), from €119,629 to €299,975
- Taxes +€44,463
up €44,463 (+175%), from €25,390 to €69,852
- Depreciation +€3,401
up €3,401 (+65.1%), from €5,227 to €8,629
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 | €125,117 | €268,976 | +€143,859 | +115% |
| Fixed assets | 21/28 | €18,052 | €18,728 | +€675 | +3.7% |
| Tangible fixed assets | 22/27 | €18,052 | €18,728 | +€675 | +3.7% |
| Furniture and vehicles | 24 | €18,052 | €18,728 | +€675 | +3.7% |
| Current assets | 29/58 | €107,065 | €250,248 | +€143,184 | +134% |
| Amounts receivable within one year | 40/41 | €4,176 | - | -€4,176 | |
| Other amounts receivable | 41 | €4,176 | - | -€4,176 | |
| Cash at bank and in hand | 54/58 | €23,389 | €117,104 | +€93,715 | +401% |
| Deferred charges and accrued income | 490/1 | €79,500 | €133,144 | +€53,644 | +67.5% |
| Total equity and liabilities | 10/49 | €125,117 | €268,976 | +€143,859 | +115% |
| Equity | 10/15 | €99,221 | €228,599 | +€129,379 | +130% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €96,721 | €226,099 | +€129,379 | +134% |
| Amounts payable | 17/49 | €25,897 | €40,377 | +€14,480 | +55.9% |
| Amounts payable within one year | 42/48 | €25,897 | €40,377 | +€14,480 | +55.9% |
| Trade debts | 44 | €63 | €5,085 | +€5,022 | +7,958% |
| Suppliers | 440/4 | €63 | €5,085 | +€5,022 | +7,958% |
| Taxes, remuneration and social security | 45 | €17,890 | €32,742 | +€14,852 | +83.0% |
| Taxes | 450/3 | €17,890 | €32,742 | +€14,852 | +83.0% |
| Other amounts payable | 47/48 | €7,944 | €2,549 | -€5,395 | -67.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,227 | €8,629 | +€3,401 | +65.1% |
| Other operating charges | 640/8 | €751 | €1,423 | +€672 | +89.4% |
| Gross operating margin | 9900 | €119,629 | €299,975 | +€180,346 | +151% |
| Operating profit (loss) | 9901 | €113,651 | €289,924 | +€176,273 | +155% |
| Financial income | 75/76B | €0 | €0 | +€0 | +30.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +30.0% |
| Financial charges | 65/66B | €132 | €340 | +€208 | +158% |
| Recurring financial charges | 65 | €132 | €340 | +€208 | +158% |
| Profit (loss) for the period before taxes | 9903 | €113,519 | €289,584 | +€176,065 | +155% |
| Income taxes | 67/77 | €25,390 | €69,852 | +€44,463 | +175% |
| Profit (loss) for the period | 9904 | €88,130 | €219,732 | +€131,602 | +149% |
| Profit (loss) for the period to be appropriated | 9905 | €88,130 | €219,732 | +€131,602 | +149% |
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 22 October 2026 via checked.be.