JAN MEULEMAN: 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 MEULEMAN
Largest movements
- Receivables within one year +€7,649
up €7,649 (+26.1%), from €29,345 to €36,994
- Cash +€7,536
up €7,536 (+23.1%), from €32,561 to €40,097
mainly Net result for the year (+€9,578) and Current investments (+€5,815)
- Current investments -€5,815
down €5,815 (-2.6%), from €224,991 to €219,176
- Profit (loss) carried forward +€9,578
up €9,578 (+14.3%), from €66,821 to €76,399
- Financial income -€7,840
down €7,840 (-33.0%), from €23,723 to €15,884
- Taxes -€1,863
down €1,863 (-27.9%), from €6,675 to €4,812
- Gross operating margin +€819
up €819 (+210%), from €390 to €1,209
- Depreciation -€561
down €561 (-56.9%), from €985 to €424
- Other operating charges +€232
up €232 (+16.8%), from €1,381 to €1,613
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 | €341,651 | €351,604 | +€9,953 | +2.9% |
| Fixed assets | 21/28 | €52,856 | €52,995 | +€139 | +0.3% |
| Tangible fixed assets | 22/27 | €356 | €495 | +€139 | +39.1% |
| Furniture and vehicles | 24 | €356 | €495 | +€139 | +39.1% |
| Financial fixed assets | 28 | €52,500 | €52,500 | = | 0.0% |
| Current assets | 29/58 | €288,795 | €298,609 | +€9,814 | +3.4% |
| Amounts receivable within one year | 40/41 | €29,345 | €36,994 | +€7,649 | +26.1% |
| Other amounts receivable | 41 | €29,345 | €36,994 | +€7,649 | +26.1% |
| Current investments | 50/53 | €224,991 | €219,176 | -€5,815 | -2.6% |
| Cash at bank and in hand | 54/58 | €32,561 | €40,097 | +€7,536 | +23.1% |
| Deferred charges and accrued income | 490/1 | €1,898 | €2,341 | +€443 | +23.4% |
| Total equity and liabilities | 10/49 | €341,651 | €351,604 | +€9,953 | +2.9% |
| Equity | 10/15 | €336,821 | €346,399 | +€9,578 | +2.8% |
| Contributions | 10/11 | €175,000 | €175,000 | = | 0.0% |
| Reserves | 13 | €95,000 | €95,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €50,000 | €50,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €50,000 | €50,000 | = | 0.0% |
| Distributable reserves | 133 | €45,000 | €45,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €66,821 | €76,399 | +€9,578 | +14.3% |
| Amounts payable | 17/49 | €4,830 | €5,205 | +€375 | +7.8% |
| Amounts payable within one year | 42/48 | €4,830 | €5,205 | +€375 | +7.8% |
| Trade debts | 44 | €1,335 | €1,151 | -€184 | -13.8% |
| Suppliers | 440/4 | €1,335 | €1,151 | -€184 | -13.8% |
| Taxes, remuneration and social security | 45 | €3,494 | €4,054 | +€560 | +16.0% |
| Taxes | 450/3 | €3,494 | €4,054 | +€560 | +16.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €985 | €424 | -€561 | -56.9% |
| Other operating charges | 640/8 | €1,381 | €1,613 | +€232 | +16.8% |
| Gross operating margin | 9900 | €390 | €1,209 | +€819 | +210% |
| Operating profit (loss) | 9901 | -€1,975 | -€828 | +€1,148 | +58.1% |
| Financial income | 75/76B | €23,723 | €15,884 | -€7,840 | -33.0% |
| Recurring financial income | 75 | €23,723 | €15,884 | -€7,840 | -33.0% |
| Financial charges | 65/66B | €796 | €666 | -€130 | -16.3% |
| Recurring financial charges | 65 | €796 | €666 | -€130 | -16.3% |
| Profit (loss) for the period before taxes | 9903 | €20,952 | €14,390 | -€6,562 | -31.3% |
| Income taxes | 67/77 | €6,675 | €4,812 | -€1,863 | -27.9% |
| Profit (loss) for the period | 9904 | €14,276 | €9,578 | -€4,699 | -32.9% |
| Profit (loss) for the period to be appropriated | 9905 | €14,276 | €9,578 | -€4,699 | -32.9% |
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.