IVAN DEMEESTER: 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.
IVAN DEMEESTER
Largest movements
- Cash +€151,406
up €151,406 (+23.4%), from €646,659 to €798,064
mainly Other debts (+€201,871) and Net result for the year (+€151,897)
- Other debts +€201,871
up €201,871 (+623,444%), from €32 to €201,904
- Profit (loss) carried forward -€61,871
down €61,871 (-100%), from €61,871 to €0
- Reserves +€11,897
up €11,897 (+2.0%), from €588,109 to €600,006
of which Distributable reserves: +€11,897
- Gross operating margin +€14,701
up €14,701 (+7.6%), from €192,472 to €207,173
- Taxes +€7,307
up €7,307 (+12.6%), from €57,807 to €65,113
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 | €690,596 | €842,835 | +€152,238 | +22.0% |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €690,596 | €842,835 | +€152,238 | +22.0% |
| Amounts receivable within one year | 40/41 | €18,141 | €18,717 | +€577 | +3.2% |
| Trade receivables | 40 | €18,140 | €18,717 | +€577 | +3.2% |
| Other amounts receivable | 41 | €1 | €0 | -€1 | -100% |
| Current investments | 50/53 | €25,260 | €25,496 | +€235 | +0.9% |
| Cash at bank and in hand | 54/58 | €646,659 | €798,064 | +€151,406 | +23.4% |
| Deferred charges and accrued income | 490/1 | €536 | €557 | +€21 | +3.8% |
| Total equity and liabilities | 10/49 | €690,596 | €842,835 | +€152,238 | +22.0% |
| Equity | 10/15 | €668,531 | €618,556 | -€49,975 | -7.5% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €588,109 | €600,006 | +€11,897 | +2.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €586,254 | €598,151 | +€11,897 | +2.0% |
| Profit (loss) carried forward | 14 | €61,871 | €0 | -€61,871 | -100% |
| Amounts payable | 17/49 | €22,066 | €224,279 | +€202,213 | +916% |
| Amounts payable within one year | 42/48 | €22,066 | €224,279 | +€202,213 | +916% |
| Trade debts | 44 | €380 | €324 | -€57 | -14.9% |
| Suppliers | 440/4 | €380 | €324 | -€57 | -14.9% |
| Taxes, remuneration and social security | 45 | €21,653 | €22,051 | +€398 | +1.8% |
| Taxes | 450/3 | €21,653 | €22,051 | +€398 | +1.8% |
| Other amounts payable | 47/48 | €32 | €201,904 | +€201,871 | +623,444% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,726 | €0 | -€1,726 | -100% |
| Other operating charges | 640/8 | €587 | €607 | +€20 | +3.4% |
| Gross operating margin | 9900 | €192,472 | €207,173 | +€14,701 | +7.6% |
| Operating profit (loss) | 9901 | €190,159 | €206,566 | +€16,407 | +8.6% |
| Financial income | 75/76B | €9,541 | €10,843 | +€1,301 | +13.6% |
| Recurring financial income | 75 | €9,541 | €10,843 | +€1,301 | +13.6% |
| Financial charges | 65/66B | €0 | €399 | +€399 | +265,793% |
| Recurring financial charges | 65 | €0 | €399 | +€399 | +265,793% |
| Profit (loss) for the period before taxes | 9903 | €199,700 | €217,010 | +€17,310 | +8.7% |
| Income taxes | 67/77 | €57,807 | €65,113 | +€7,307 | +12.6% |
| Profit (loss) for the period | 9904 | €141,893 | €151,897 | +€10,003 | +7.0% |
| Profit (loss) for the period to be appropriated | 9905 | €141,893 | €151,897 | +€10,003 | +7.0% |
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 24 October 2026 via checked.be.