KOEN MEERBERGHS: 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.
KOEN MEERBERGHS
Largest movements
- Stocks and contracts -€218,750
down €218,750 (-100%), from €218,750 to €0
- Cash +€155,283
up €155,283 (+108%), from €143,232 to €298,515
mainly Stocks and contracts (+€218,750) and Net result for the year (+€30,383)
- Receivables within one year +€10,060
up €10,060 (+10.7%), from €93,718 to €103,778
of which Other amounts receivable: +€45,165
- Debts after one year -€41,789
down €41,789 (-16.4%), from €254,378 to €212,589
- Reserves +€30,383
up €30,383 (+15.9%), from €190,928 to €221,311
of which Distributable reserves: +€30,383
- Short-term financial debts -€25,015
down €25,015 (-59.9%), from €41,735 to €16,719
- Tax, wage and social debts -€15,614
down €15,614 (-45.1%), from €34,649 to €19,036
of which Remuneration and social security: -€9,650
- Gross operating margin -€62,019
down €62,019 (-19.4%), from €320,389 to €258,370
- Taxes -€25,280
down €25,280 (-52.9%), from €47,810 to €22,530
- Other operating charges +€23,781
up €23,781 (+375%), from €6,346 to €30,127
- Financial charges +€7,557
up €7,557 (+151%), from €5,009 to €12,566
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 | €635,849 | €586,736 | -€49,113 | -7.7% |
| Fixed assets | 21/28 | €180,149 | €183,727 | +€3,578 | +2.0% |
| Tangible fixed assets | 22/27 | €180,149 | €183,727 | +€3,578 | +2.0% |
| Land and buildings | 22 | €141,109 | €141,008 | -€101 | -0.1% |
| Plant, machinery and equipment | 23 | €31,103 | €23,960 | -€7,143 | -23.0% |
| Furniture and vehicles | 24 | €7,937 | €18,759 | +€10,822 | +136% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €455,700 | €403,009 | -€52,691 | -11.6% |
| Stocks and contracts in progress | 3 | €218,750 | €0 | -€218,750 | -100% |
| Stocks | 30/36 | €218,750 | €0 | -€218,750 | -100% |
| Amounts receivable within one year | 40/41 | €93,718 | €103,778 | +€10,060 | +10.7% |
| Trade receivables | 40 | €57,677 | €22,573 | -€35,105 | -60.9% |
| Other amounts receivable | 41 | €36,041 | €81,206 | +€45,165 | +125% |
| Cash at bank and in hand | 54/58 | €143,232 | €298,515 | +€155,283 | +108% |
| Deferred charges and accrued income | 490/1 | €0 | €716 | +€716 | |
| Total equity and liabilities | 10/49 | €635,849 | €586,736 | -€49,113 | -7.7% |
| Equity | 10/15 | €198,428 | €228,811 | +€30,383 | +15.3% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €190,928 | €221,311 | +€30,383 | +15.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €190,928 | €221,311 | +€30,383 | +15.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €437,421 | €357,925 | -€79,496 | -18.2% |
| Amounts payable after more than one year | 17 | €254,378 | €212,589 | -€41,789 | -16.4% |
| Financial debts | 170/4 | €254,378 | €212,589 | -€41,789 | -16.4% |
| Amounts payable within one year | 42/48 | €182,793 | €145,065 | -€37,728 | -20.6% |
| Current portion of amounts payable after more than one year | 42 | €40,364 | €41,789 | +€1,425 | +3.5% |
| Financial debts | 43 | €41,735 | €16,719 | -€25,015 | -59.9% |
| Credit institutions | 430/8 | €41,735 | €16,719 | -€25,015 | -59.9% |
| Trade debts | 44 | €64,700 | €67,503 | +€2,803 | +4.3% |
| Suppliers | 440/4 | €64,700 | €67,503 | +€2,803 | +4.3% |
| Taxes, remuneration and social security | 45 | €34,649 | €19,036 | -€15,614 | -45.1% |
| Taxes | 450/3 | €24,923 | €18,959 | -€5,964 | -23.9% |
| Remuneration and social security | 454/9 | €9,726 | €76 | -€9,650 | -99.2% |
| Other amounts payable | 47/48 | €1,344 | €18 | -€1,326 | -98.7% |
| Accrued charges and deferred income | 492/3 | €250 | €271 | +€21 | +8.5% |
| Non-recurring operating income | 76A | - | €8,035 | +€8,035 | |
| Remuneration, social security and pensions | 62 | €151,713 | €150,200 | -€1,513 | -1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,708 | €15,201 | +€493 | +3.4% |
| Other operating charges | 640/8 | €6,346 | €30,127 | +€23,781 | +375% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €320,389 | €258,370 | -€62,019 | -19.4% |
| Operating profit (loss) | 9901 | €147,622 | €62,841 | -€84,781 | -57.4% |
| Financial income | 75/76B | €2,408 | €2,638 | +€230 | +9.5% |
| Recurring financial income | 75 | €2,408 | €2,638 | +€230 | +9.5% |
| Financial charges | 65/66B | €5,009 | €12,566 | +€7,557 | +151% |
| Recurring financial charges | 65 | €5,009 | €12,566 | +€7,557 | +151% |
| Profit (loss) for the period before taxes | 9903 | €145,021 | €52,913 | -€92,108 | -63.5% |
| Income taxes | 67/77 | €47,810 | €22,530 | -€25,280 | -52.9% |
| Profit (loss) for the period | 9904 | €97,211 | €30,383 | -€66,828 | -68.7% |
| Profit (loss) for the period to be appropriated | 9905 | €97,211 | €30,383 | -€66,828 | -68.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.