Dr. Vandermeulen Jan: 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. Vandermeulen Jan
Largest movements
- Cash -€213,639
down €213,639 (-73.1%), from €292,409 to €78,770
mainly Contributions, distributions and other (-€375,000) and Tax, wage and social debts (-€27,974)
- Deferred charges and accrued income +€13,254
up €13,254 (+10.5%), from €125,982 to €139,235
- Receivables within one year -€8,811
down €8,811 (-85.2%), from €10,340 to €1,529
- Reserves -€182,955
down €182,955 (-47.6%), from €384,332 to €201,377
- Tax, wage and social debts -€27,974
down €27,974 (-82.3%), from €33,997 to €6,023
- Gross operating margin +€32,500
up €32,500 (+14.6%), from €221,970 to €254,470
- Taxes +€9,977
up €9,977 (+19.5%), from €51,081 to €61,058
- Depreciation -€4,920
down €4,920 (-72.7%), from €6,765 to €1,845
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 | €431,004 | €219,963 | -€211,041 | -49.0% |
| Fixed assets | 21/28 | €2,274 | €429 | -€1,845 | -81.1% |
| Tangible fixed assets | 22/27 | €2,274 | €429 | -€1,845 | -81.1% |
| Furniture and vehicles | 24 | €2,274 | €429 | -€1,845 | -81.1% |
| Current assets | 29/58 | €428,730 | €219,534 | -€209,196 | -48.8% |
| Amounts receivable within one year | 40/41 | €10,340 | €1,529 | -€8,811 | -85.2% |
| Other amounts receivable | 41 | €10,340 | €1,529 | -€8,811 | -85.2% |
| Cash at bank and in hand | 54/58 | €292,409 | €78,770 | -€213,639 | -73.1% |
| Deferred charges and accrued income | 490/1 | €125,982 | €139,235 | +€13,254 | +10.5% |
| Total equity and liabilities | 10/49 | €431,004 | €219,963 | -€211,041 | -49.0% |
| Equity | 10/15 | €387,332 | €204,377 | -€182,955 | -47.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €384,332 | €201,377 | -€182,955 | -47.6% |
| Distributable reserves | 133 | €384,332 | €201,377 | -€182,955 | -47.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €43,672 | €15,586 | -€28,086 | -64.3% |
| Amounts payable within one year | 42/48 | €43,672 | €15,377 | -€28,295 | -64.8% |
| Trade debts | 44 | €9,675 | €9,354 | -€321 | -3.3% |
| Suppliers | 440/4 | €9,675 | €9,354 | -€321 | -3.3% |
| Taxes, remuneration and social security | 45 | €33,997 | €6,023 | -€27,974 | -82.3% |
| Taxes | 450/3 | €33,997 | €6,023 | -€27,974 | -82.3% |
| Accrued charges and deferred income | 492/3 | - | €209 | +€209 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,765 | €1,845 | -€4,920 | -72.7% |
| Other operating charges | 640/8 | €598 | €611 | +€13 | +2.2% |
| Gross operating margin | 9900 | €221,970 | €254,470 | +€32,500 | +14.6% |
| Operating profit (loss) | 9901 | €214,607 | €252,014 | +€37,407 | +17.4% |
| Financial income | 75/76B | €667 | €1,218 | +€551 | +82.5% |
| Recurring financial income | 75 | €667 | €1,218 | +€551 | +82.5% |
| Financial charges | 65/66B | €49 | €129 | +€80 | +164% |
| Recurring financial charges | 65 | €49 | €129 | +€80 | +164% |
| Profit (loss) for the period before taxes | 9903 | €215,225 | €253,103 | +€37,878 | +17.6% |
| Income taxes | 67/77 | €51,081 | €61,058 | +€9,977 | +19.5% |
| Profit (loss) for the period | 9904 | €164,144 | €192,045 | +€27,901 | +17.0% |
| Profit (loss) for the period to be appropriated | 9905 | €164,144 | €192,045 | +€27,901 | +17.0% |
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 31 October 2026 via checked.be.