Margo MEULEMEESTER: 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.
Margo MEULEMEESTER
Largest movements
- Cash +€20,751
up €20,751 (+2,141%), from €969 to €21,720
mainly Net result for the year (+€13,160) and Depreciation (+€5,720)
- Tangible fixed assets -€5,720
down €5,720 (-34.9%), from €16,395 to €10,675
- Receivables within one year +€1,047
up €1,047 (+7.4%), from €14,208 to €15,255
- Deferred charges and accrued income +€535
up €535 (+1,294%), from €41 to €576
- Reserves +€12,301
up €12,301 (+231%), from €5,318 to €17,619
- Tax, wage and social debts +€3,802
up €3,802 (+133%), from €2,863 to €6,665
of which Taxes: +€3,794
- Other debts +€1,645
up €1,645 (+8.6%), from €19,160 to €20,805
- Trade debts -€1,635
down €1,635 (-92.3%), from €1,773 to €137
- Accrued charges and deferred income +€500
new in 2025: €500
- Gross operating margin +€15,960
up €15,960 (+157%), from €10,198 to €26,158
- Depreciation +€4,954
up €4,954 (+647%), from €766 to €5,720
- Taxes +€3,121
up €3,121 (+109%), from €2,863 to €5,984
- Other operating charges +€606
up €606 (+138%), from €437 to €1,043
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 | €31,614 | €48,226 | +€16,613 | +52.5% |
| Fixed assets | 21/28 | €16,395 | €10,675 | -€5,720 | -34.9% |
| Tangible fixed assets | 22/27 | €16,395 | €10,675 | -€5,720 | -34.9% |
| Furniture and vehicles | 24 | €16,395 | €10,675 | -€5,720 | -34.9% |
| Current assets | 29/58 | €15,218 | €37,551 | +€22,333 | +147% |
| Amounts receivable within one year | 40/41 | €14,208 | €15,255 | +€1,047 | +7.4% |
| Trade receivables | 40 | €14,208 | €15,255 | +€1,047 | +7.4% |
| Cash at bank and in hand | 54/58 | €969 | €21,720 | +€20,751 | +2,141% |
| Deferred charges and accrued income | 490/1 | €41 | €576 | +€535 | +1,294% |
| Total equity and liabilities | 10/49 | €31,614 | €48,226 | +€16,613 | +52.5% |
| Equity | 10/15 | €7,818 | €20,119 | +€12,301 | +157% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €5,318 | €17,619 | +€12,301 | +231% |
| Distributable reserves | 133 | €5,318 | €17,619 | +€12,301 | +231% |
| Amounts payable | 17/49 | €23,795 | €28,107 | +€4,312 | +18.1% |
| Amounts payable within one year | 42/48 | €23,795 | €27,607 | +€3,812 | +16.0% |
| Trade debts | 44 | €1,773 | €137 | -€1,635 | -92.3% |
| Suppliers | 440/4 | €1,773 | €137 | -€1,635 | -92.3% |
| Taxes, remuneration and social security | 45 | €2,863 | €6,665 | +€3,802 | +133% |
| Taxes | 450/3 | €2,863 | €6,657 | +€3,794 | +133% |
| Remuneration and social security | 454/9 | - | €8 | +€8 | |
| Other amounts payable | 47/48 | €19,160 | €20,805 | +€1,645 | +8.6% |
| Accrued charges and deferred income | 492/3 | - | €500 | +€500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €766 | €5,720 | +€4,954 | +647% |
| Other operating charges | 640/8 | €437 | €1,043 | +€606 | +138% |
| Gross operating margin | 9900 | €10,198 | €26,158 | +€15,960 | +157% |
| Operating profit (loss) | 9901 | €8,995 | €19,395 | +€10,400 | +116% |
| Financial charges | 65/66B | €13 | €252 | +€238 | +1,775% |
| Recurring financial charges | 65 | €13 | €252 | +€238 | +1,775% |
| Profit (loss) for the period before taxes | 9903 | €8,981 | €19,143 | +€10,162 | +113% |
| Income taxes | 67/77 | €2,863 | €5,984 | +€3,121 | +109% |
| Profit (loss) for the period | 9904 | €6,118 | €13,160 | +€7,041 | +115% |
| Profit (loss) for the period to be appropriated | 9905 | €6,118 | €13,160 | +€7,041 | +115% |
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 21 October 2026 via checked.be.