M. De Meyer: what changed
Two fiscal 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.
M. De Meyer
Largest movements
- Receivables within one year -€8,826
down €8,826 (-51.0%), from €17,297 to €8,472
of which Trade receivables: -€8,827
- Tangible fixed assets +€2,844
new in 2025: €2,844
- Cash -€1,645
down €1,645 (-2.2%), from €73,935 to €72,290
mainly Contributions, distributions and other (-€102,781) and Accrued charges and deferred income (-€4,920)
- Reserves -€64,404
down €64,404 (-100.0%), from €64,404 to €0
- Other debts +€62,002
up €62,002 (+6854.2%), from €905 to €62,907
- Accrued charges and deferred income -€4,920
down €4,920 (-98.4%), from €5,000 to €80
- Gross operating margin +€5,360
up €5,360 (+12.0%), from €44,847 to €50,207
- Taxes +€753
up €753 (+7.7%), from €9,787 to €10,539
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.
Cash bridge derived
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 | €91,232 | €84,482 | -€6,750 | -7.4% |
| Fixed assets | 21/28 | - | €2,844 | +€2,844 | |
| Tangible fixed assets | 22/27 | - | €2,844 | +€2,844 | |
| Plant, machinery and equipment | 23 | - | €2,844 | +€2,844 | |
| Current assets | 29/58 | €91,232 | €81,638 | -€9,594 | -10.5% |
| Amounts receivable within one year | 40/41 | €17,297 | €8,472 | -€8,826 | -51.0% |
| Trade receivables | 40 | €17,297 | €8,470 | -€8,827 | -51.0% |
| Other amounts receivable | 41 | - | €2 | +€2 | |
| Cash at bank and in hand | 54/58 | €73,935 | €72,290 | -€1,645 | -2.2% |
| Deferred charges and accrued income | 490/1 | - | €877 | +€877 | |
| Total equity and liabilities | 10/49 | €91,232 | €84,482 | -€6,750 | -7.4% |
| Equity | 10/15 | €67,404 | €3,000 | -€64,404 | -95.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €64,404 | €0 | -€64,404 | -100.0% |
| Distributable reserves | 133 | €64,404 | €0 | -€64,404 | -100.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €23,828 | €81,482 | +€57,654 | +242.0% |
| Amounts payable within one year | 42/48 | €18,828 | €81,402 | +€62,574 | +332.4% |
| Trade debts | 44 | €357 | €1,073 | +€716 | +200.9% |
| Suppliers | 440/4 | €357 | €1,073 | +€716 | +200.9% |
| Taxes, remuneration and social security | 45 | €17,567 | €17,422 | -€144 | -0.8% |
| Taxes | 450/3 | €15,107 | €17,422 | +€2,315 | +15.3% |
| Remuneration and social security | 454/9 | €2,459 | €0 | -€2,459 | -100.0% |
| Other amounts payable | 47/48 | €905 | €62,907 | +€62,002 | +6854.2% |
| Accrued charges and deferred income | 492/3 | €5,000 | €80 | -€4,920 | -98.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €288 | +€288 | |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | €44,847 | €50,207 | +€5,360 | +12.0% |
| Operating profit (loss) | 9901 | €44,729 | €49,798 | +€5,070 | +11.3% |
| Financial income | 75/76B | €99 | €282 | +€183 | +184.8% |
| Recurring financial income | 75 | €99 | €282 | +€183 | +184.8% |
| Financial charges | 65/66B | €1,520 | €1,164 | -€356 | -23.4% |
| Recurring financial charges | 65 | €1,520 | €1,164 | -€356 | -23.4% |
| Profit (loss) for the period before taxes | 9903 | €43,307 | €48,916 | +€5,609 | +13.0% |
| Income taxes | 67/77 | €9,787 | €10,539 | +€753 | +7.7% |
| Profit (loss) for the period | 9904 | €33,521 | €38,377 | +€4,856 | +14.5% |
| Profit (loss) for the period to be appropriated | 9905 | €33,521 | €38,377 | +€4,856 | +14.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.