Jan Meheus: 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.
Jan Meheus
Largest movements
- Cash +€31,368
up €31,368 (+59.2%), from €53,000 to €84,368
mainly Other debts (+€90,053) and Net result for the year (+€65,270)
- Tangible fixed assets -€15,373
down €15,373 (-33.7%), from €45,558 to €30,185
of which Furniture and vehicles: -€14,751
- Other debts +€90,053
up €90,053 (+181%), from €49,891 to €139,944
- Reserves -€67,500
no longer reported in 2025 (was €67,500)
- Current portion of long-term debt -€4,025
no longer reported in 2025 (was €4,025)
- Trade debts -€1,671
down €1,671 (-87.5%), from €1,910 to €240
- Gross operating margin -€6,647
down €6,647 (-6.3%), from €105,281 to €98,633
- Taxes -€1,170
down €1,170 (-6.3%), from €18,538 to €17,368
- Depreciation -€1,085
down €1,085 (-6.6%), from €16,458 to €15,373
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 | €129,770 | €147,592 | +€17,822 | +13.7% |
| Fixed assets | 21/28 | €45,558 | €30,185 | -€15,373 | -33.7% |
| Tangible fixed assets | 22/27 | €45,558 | €30,185 | -€15,373 | -33.7% |
| Plant, machinery and equipment | 23 | €375 | €168 | -€207 | -55.2% |
| Furniture and vehicles | 24 | €41,526 | €26,775 | -€14,751 | -35.5% |
| Other tangible fixed assets | 26 | €3,658 | €3,242 | -€416 | -11.4% |
| Current assets | 29/58 | €84,212 | €117,407 | +€33,195 | +39.4% |
| Amounts receivable within one year | 40/41 | €31,212 | €32,382 | +€1,170 | +3.7% |
| Trade receivables | 40 | €30,250 | €30,250 | = | 0.0% |
| Other amounts receivable | 41 | €962 | €2,132 | +€1,170 | +122% |
| Cash at bank and in hand | 54/58 | €53,000 | €84,368 | +€31,368 | +59.2% |
| Deferred charges and accrued income | 490/1 | - | €657 | +€657 | |
| Total equity and liabilities | 10/49 | €129,770 | €147,592 | +€17,822 | +13.7% |
| Equity | 10/15 | €69,944 | €2,713 | -€67,230 | -96.1% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €67,500 | - | -€67,500 | |
| Distributable reserves | 133 | €67,500 | - | -€67,500 | |
| Profit (loss) carried forward | 14 | €2,344 | €2,613 | +€270 | +11.5% |
| Amounts payable | 17/49 | €59,826 | €144,879 | +€85,052 | +142% |
| Amounts payable within one year | 42/48 | €59,826 | €144,879 | +€85,052 | +142% |
| Current portion of amounts payable after more than one year | 42 | €4,025 | - | -€4,025 | |
| Trade debts | 44 | €1,910 | €240 | -€1,671 | -87.5% |
| Suppliers | 440/4 | €1,910 | €240 | -€1,671 | -87.5% |
| Taxes, remuneration and social security | 45 | €4,000 | €4,695 | +€694 | +17.4% |
| Taxes | 450/3 | €4,000 | €4,695 | +€694 | +17.4% |
| Other amounts payable | 47/48 | €49,891 | €139,944 | +€90,053 | +181% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,458 | €15,373 | -€1,085 | -6.6% |
| Other operating charges | 640/8 | €752 | €528 | -€224 | -29.8% |
| Gross operating margin | 9900 | €105,281 | €98,633 | -€6,647 | -6.3% |
| Operating profit (loss) | 9901 | €88,071 | €82,732 | -€5,339 | -6.1% |
| Financial charges | 65/66B | €525 | €94 | -€431 | -82.0% |
| Recurring financial charges | 65 | €525 | €94 | -€431 | -82.0% |
| Profit (loss) for the period before taxes | 9903 | €87,546 | €82,638 | -€4,908 | -5.6% |
| Income taxes | 67/77 | €18,538 | €17,368 | -€1,170 | -6.3% |
| Profit (loss) for the period | 9904 | €69,008 | €65,270 | -€3,738 | -5.4% |
| Profit (loss) for the period to be appropriated | 9905 | €69,008 | €65,270 | -€3,738 | -5.4% |
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.