MEULEMANS IVAN: 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.
MEULEMANS IVAN
Largest movements
- Receivables within one year -€74,263
down €74,263 (-58.3%), from €127,453 to €53,189
of which Trade receivables: -€42,324
- Tangible fixed assets -€62,128
down €62,128 (-14.4%), from €429,968 to €367,840
of which Furniture and vehicles: -€59,503
- Cash +€34,863
up €34,863 (+28.2%), from €123,722 to €158,585
mainly Depreciation (+€161,673) and Receivables within one year (+€74,263)
- Stocks and contracts +€15,000
up €15,000 (+150%), from €10,000 to €25,000
of which Contracts in progress: +€15,000
- Trade debts -€114,870
down €114,870 (-90.0%), from €127,652 to €12,782
- Reserves +€13,059
up €13,059 (+2.4%), from €545,251 to €558,310
- Tax, wage and social debts +€8,781
up €8,781 (+391%), from €2,245 to €11,026
of which Taxes: +€10,394
- Gross operating margin -€40,914
down €40,914 (-8.6%), from €475,149 to €434,235
- Staff costs +€32,666
up €32,666 (+14.8%), from €220,416 to €253,081
- Depreciation +€31,825
up €31,825 (+24.5%), from €129,849 to €161,673
- Taxes -€15,570
down €15,570 (-90.9%), from €17,129 to €1,558
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 | €695,898 | €608,751 | -€87,147 | -12.5% |
| Fixed assets | 21/28 | €430,508 | €368,380 | -€62,128 | -14.4% |
| Tangible fixed assets | 22/27 | €429,968 | €367,840 | -€62,128 | -14.4% |
| Plant, machinery and equipment | 23 | €5,964 | €3,339 | -€2,625 | -44.0% |
| Furniture and vehicles | 24 | €424,003 | €364,500 | -€59,503 | -14.0% |
| Financial fixed assets | 28 | €540 | €540 | = | 0.0% |
| Current assets | 29/58 | €265,390 | €240,372 | -€25,018 | -9.4% |
| Stocks and contracts in progress | 3 | €10,000 | €25,000 | +€15,000 | +150% |
| Stocks | 30/36 | €10,000 | €10,000 | = | 0.0% |
| Contracts in progress | 37 | - | €15,000 | +€15,000 | |
| Amounts receivable within one year | 40/41 | €127,453 | €53,189 | -€74,263 | -58.3% |
| Trade receivables | 40 | €85,517 | €43,193 | -€42,324 | -49.5% |
| Other amounts receivable | 41 | €41,936 | €9,997 | -€31,939 | -76.2% |
| Cash at bank and in hand | 54/58 | €123,722 | €158,585 | +€34,863 | +28.2% |
| Deferred charges and accrued income | 490/1 | €4,215 | €3,597 | -€618 | -14.7% |
| Total equity and liabilities | 10/49 | €695,898 | €608,751 | -€87,147 | -12.5% |
| Equity | 10/15 | €557,651 | €570,710 | +€13,059 | +2.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €545,251 | €558,310 | +€13,059 | +2.4% |
| Distributable reserves | 133 | €545,251 | €558,310 | +€13,059 | +2.4% |
| Amounts payable | 17/49 | €138,247 | €38,041 | -€100,206 | -72.5% |
| Amounts payable within one year | 42/48 | €129,897 | €23,808 | -€106,089 | -81.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €127,652 | €12,782 | -€114,870 | -90.0% |
| Suppliers | 440/4 | €127,652 | €12,782 | -€114,870 | -90.0% |
| Taxes, remuneration and social security | 45 | €2,245 | €11,026 | +€8,781 | +391% |
| Taxes | 450/3 | €632 | €11,026 | +€10,394 | +1,646% |
| Remuneration and social security | 454/9 | €1,613 | €0 | -€1,613 | -100% |
| Accrued charges and deferred income | 492/3 | €8,350 | €14,233 | +€5,883 | +70.5% |
| Non-recurring operating income | 76A | €0 | €53,000 | +€53,000 | |
| Remuneration, social security and pensions | 62 | €220,416 | €253,081 | +€32,666 | +14.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €129,849 | €161,673 | +€31,825 | +24.5% |
| Other operating charges | 640/8 | €6,028 | €4,831 | -€1,197 | -19.9% |
| Gross operating margin | 9900 | €475,149 | €434,235 | -€40,914 | -8.6% |
| Operating profit (loss) | 9901 | €118,857 | €14,650 | -€104,207 | -87.7% |
| Financial income | 75/76B | €382 | €458 | +€76 | +20.0% |
| Recurring financial income | 75 | €382 | €458 | +€76 | +20.0% |
| Financial charges | 65/66B | €966 | €490 | -€476 | -49.3% |
| Recurring financial charges | 65 | €966 | €490 | -€476 | -49.3% |
| Profit (loss) for the period before taxes | 9903 | €118,272 | €14,618 | -€103,654 | -87.6% |
| Income taxes | 67/77 | €17,129 | €1,558 | -€15,570 | -90.9% |
| Profit (loss) for the period | 9904 | €101,144 | €13,059 | -€88,084 | -87.1% |
| Profit (loss) for the period to be appropriated | 9905 | €101,144 | €13,059 | -€88,084 | -87.1% |
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 27 October 2026 via checked.be.