Dr. Van der Meersche E.: 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. Van der Meersche E.
Largest movements
- Current investments +€634,591
up €634,591 (+41.9%), from €1.5m to €2.2m
- Cash -€214,499
down €214,499 (-79.8%), from €268,963 to €54,464
mainly Current investments (-€634,591) and Investment in fixed assets (net) (-€3,165)
- Tangible fixed assets -€27,832
down €27,832 (-10.8%), from €256,592 to €228,761
of which Land and buildings: -€14,241
- Reserves +€338,607
up €338,607 (+17.4%), from €1.9m to €2.3m
of which Distributable reserves: +€339,479
- Gross operating margin +€58,333
up €58,333 (+13.8%), from €423,088 to €481,421
- Financial charges +€38,599
up €38,599, from -€16,401 to €22,199
- Taxes +€36,494
up €36,494 (+28.5%), from €127,857 to €164,351
- Financial income +€26,310
up €26,310 (+52.6%), from €50,003 to €76,312
- Depreciation +€8,264
up €8,264 (+36.4%), from €22,732 to €30,996
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 | €2,043,953 | €2,434,436 | +€390,483 | +19.1% |
| Fixed assets | 21/28 | €256,592 | €228,761 | -€27,832 | -10.8% |
| Tangible fixed assets | 22/27 | €256,592 | €228,761 | -€27,832 | -10.8% |
| Land and buildings | 22 | €195,844 | €181,603 | -€14,241 | -7.3% |
| Plant, machinery and equipment | 23 | €3,343 | €2,161 | -€1,182 | -35.4% |
| Furniture and vehicles | 24 | €57,406 | €44,997 | -€12,409 | -21.6% |
| Current assets | 29/58 | €1,787,360 | €2,205,675 | +€418,315 | +23.4% |
| Amounts receivable within one year | 40/41 | €705 | €833 | +€128 | +18.2% |
| Trade receivables | 40 | €705 | €833 | +€128 | +18.2% |
| Current investments | 50/53 | €1,515,787 | €2,150,378 | +€634,591 | +41.9% |
| Cash at bank and in hand | 54/58 | €268,963 | €54,464 | -€214,499 | -79.8% |
| Deferred charges and accrued income | 490/1 | €1,905 | €0 | -€1,905 | -100% |
| Total equity and liabilities | 10/49 | €2,043,953 | €2,434,436 | +€390,483 | +19.1% |
| Equity | 10/15 | €1,965,071 | €2,303,678 | +€338,607 | +17.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,945,071 | €2,283,678 | +€338,607 | +17.4% |
| Tax-exempt reserves | 132 | €67,585 | €66,713 | -€872 | -1.3% |
| Distributable reserves | 133 | €1,877,486 | €2,216,965 | +€339,479 | +18.1% |
| Provisions and deferred taxes | 16 | €6,248 | €5,767 | -€481 | -7.7% |
| Deferred taxes | 168 | €6,248 | €5,767 | -€481 | -7.7% |
| Amounts payable | 17/49 | €72,634 | €124,991 | +€52,357 | +72.1% |
| Amounts payable within one year | 42/48 | €71,535 | €122,389 | +€50,855 | +71.1% |
| Financial debts | 43 | - | €22,755 | +€22,755 | |
| Credit institutions | 430/8 | - | €22,755 | +€22,755 | |
| Trade debts | 44 | €11,152 | €14,221 | +€3,069 | +27.5% |
| Suppliers | 440/4 | €11,152 | €14,221 | +€3,069 | +27.5% |
| Taxes, remuneration and social security | 45 | €37,358 | €57,941 | +€20,582 | +55.1% |
| Taxes | 450/3 | €37,358 | €57,941 | +€20,582 | +55.1% |
| Other amounts payable | 47/48 | €23,024 | €27,473 | +€4,449 | +19.3% |
| Accrued charges and deferred income | 492/3 | €1,099 | €2,601 | +€1,502 | +137% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,732 | €30,996 | +€8,264 | +36.4% |
| Other operating charges | 640/8 | €2,286 | €2,060 | -€226 | -9.9% |
| Non-recurring operating charges | 66A | €2,695 | €0 | -€2,695 | -100% |
| Gross operating margin | 9900 | €423,088 | €481,421 | +€58,333 | +13.8% |
| Operating profit (loss) | 9901 | €395,374 | €448,364 | +€52,990 | +13.4% |
| Financial income | 75/76B | €50,003 | €76,312 | +€26,310 | +52.6% |
| Recurring financial income | 75 | €50,003 | €76,312 | +€26,310 | +52.6% |
| Financial charges | 65/66B | -€16,401 | €22,199 | +€38,599 | |
| Recurring financial charges | 65 | -€16,401 | €22,199 | +€38,599 | |
| Profit (loss) for the period before taxes | 9903 | €461,777 | €502,478 | +€40,700 | +8.8% |
| Transfer from deferred taxes | 780 | €481 | €481 | = | 0.0% |
| Income taxes | 67/77 | €127,857 | €164,351 | +€36,494 | +28.5% |
| Profit (loss) for the period | 9904 | €334,401 | €338,607 | +€4,206 | +1.3% |
| Transfer from tax-exempt reserves | 789 | €872 | €872 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €335,273 | €339,479 | +€4,206 | +1.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.