Irmgard 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.
Irmgard Mestdagh
Largest movements
- Cash -€289,303
down €289,303 (-83.6%), from €346,231 to €56,928
mainly Other debts (-€391,294) and Contributions, distributions and other (-€75,000)
- Receivables within one year -€26,470
down €26,470 (-32.7%), from €80,955 to €54,485
of which Trade receivables: -€13,771
- Tangible fixed assets -€7,058
down €7,058 (-19.4%), from €36,452 to €29,393
- Other debts -€391,294
down €391,294 (-85.8%), from €456,250 to €64,956
- Reserves +€68,010
up €68,010 (+5,551%), from €1,225 to €69,236
- Gross operating margin +€19,209
up €19,209 (+10.8%), from €177,381 to €196,590
- Taxes +€5,322
up €5,322 (+14.9%), from €35,743 to €41,065
- Financial income +€2,843
up €2,843 (+4,987%), from €57 to €2,900
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 | €466,325 | €144,034 | -€322,291 | -69.1% |
| Fixed assets | 21/28 | €36,452 | €29,393 | -€7,058 | -19.4% |
| Tangible fixed assets | 22/27 | €36,452 | €29,393 | -€7,058 | -19.4% |
| Furniture and vehicles | 24 | €36,452 | €29,393 | -€7,058 | -19.4% |
| Current assets | 29/58 | €429,874 | €114,641 | -€315,232 | -73.3% |
| Amounts receivable within one year | 40/41 | €80,955 | €54,485 | -€26,470 | -32.7% |
| Trade receivables | 40 | €64,000 | €50,229 | -€13,771 | -21.5% |
| Other amounts receivable | 41 | €16,955 | €4,257 | -€12,699 | -74.9% |
| Cash at bank and in hand | 54/58 | €346,231 | €56,928 | -€289,303 | -83.6% |
| Deferred charges and accrued income | 490/1 | €2,687 | €3,228 | +€540 | +20.1% |
| Total equity and liabilities | 10/49 | €466,325 | €144,034 | -€322,291 | -69.1% |
| Equity | 10/15 | €4,225 | €72,236 | +€68,010 | +1,610% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €1,225 | €69,236 | +€68,010 | +5,551% |
| Distributable reserves | 133 | €1,225 | €69,236 | +€68,010 | +5,551% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €462,100 | €71,799 | -€390,301 | -84.5% |
| Amounts payable within one year | 42/48 | €461,429 | €71,106 | -€390,323 | -84.6% |
| Trade debts | 44 | €2,233 | €2,847 | +€614 | +27.5% |
| Suppliers | 440/4 | €2,233 | €2,847 | +€614 | +27.5% |
| Taxes, remuneration and social security | 45 | €2,946 | €3,303 | +€357 | +12.1% |
| Taxes | 450/3 | - | €195 | +€195 | |
| Remuneration and social security | 454/9 | €2,946 | €3,108 | +€162 | +5.5% |
| Other amounts payable | 47/48 | €456,250 | €64,956 | -€391,294 | -85.8% |
| Accrued charges and deferred income | 492/3 | €671 | €693 | +€22 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,420 | €14,553 | +€133 | +0.9% |
| Other operating charges | 640/8 | €753 | €773 | +€20 | +2.6% |
| Gross operating margin | 9900 | €177,381 | €196,590 | +€19,209 | +10.8% |
| Operating profit (loss) | 9901 | €162,208 | €181,264 | +€19,056 | +11.7% |
| Financial income | 75/76B | €57 | €2,900 | +€2,843 | +4,987% |
| Recurring financial income | 75 | €57 | €2,900 | +€2,843 | +4,987% |
| Financial charges | 65/66B | €75 | €89 | +€14 | +18.7% |
| Recurring financial charges | 65 | €75 | €89 | +€14 | +18.7% |
| Profit (loss) for the period before taxes | 9903 | €162,190 | €184,075 | +€21,885 | +13.5% |
| Income taxes | 67/77 | €35,743 | €41,065 | +€5,322 | +14.9% |
| Profit (loss) for the period | 9904 | €126,447 | €143,010 | +€16,564 | +13.1% |
| Profit (loss) for the period to be appropriated | 9905 | €126,447 | €143,010 | +€16,564 | +13.1% |
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 25 October 2026 via checked.be.