P. DE MEESTER: 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.
P. DE MEESTER
Largest movements
- Cash +€156,424
up €156,424 (+71.1%), from €219,939 to €376,363
mainly Other debts (+€216,894) and Net result for the year (+€175,865)
- Current investments +€27,271
up €27,271 (+4.7%), from €579,966 to €607,238
- Receivables within one year -€27,266
down €27,266 (-16.1%), from €169,251 to €141,985
of which Other amounts receivable: -€53,053
- Other debts +€216,894
up €216,894 (+354%), from €61,285 to €278,179
- Reserves -€102,314
down €102,314 (-10.8%), from €944,232 to €841,919
- Trade debts +€22,955
up €22,955 (+68.2%), from €33,651 to €56,606
- Tax, wage and social debts +€12,387
up €12,387 (+504%), from €2,455 to €14,842
- Gross operating margin +€68,442
up €68,442 (+45.2%), from €151,276 to €219,717
- Taxes +€28,005
up €28,005 (+57.5%), from €48,741 to €76,745
- Financial income +€20,349
up €20,349 (+76.0%), from €26,770 to €47,119
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 | €1,054,021 | €1,203,943 | +€149,922 | +14.2% |
| Fixed assets | 21/28 | €46,023 | €40,199 | -€5,824 | -12.7% |
| Tangible fixed assets | 22/27 | €46,023 | €40,199 | -€5,824 | -12.7% |
| Plant, machinery and equipment | 23 | €3,106 | €2,197 | -€909 | -29.3% |
| Furniture and vehicles | 24 | €6,665 | €7,188 | +€523 | +7.8% |
| Other tangible fixed assets | 26 | €36,252 | €30,814 | -€5,438 | -15.0% |
| Current assets | 29/58 | €1,007,998 | €1,163,744 | +€155,746 | +15.5% |
| Stocks and contracts in progress | 3 | €36,125 | €35,330 | -€795 | -2.2% |
| Stocks | 30/36 | €36,125 | €35,330 | -€795 | -2.2% |
| Amounts receivable within one year | 40/41 | €169,251 | €141,985 | -€27,266 | -16.1% |
| Trade receivables | 40 | €99,592 | €125,379 | +€25,787 | +25.9% |
| Other amounts receivable | 41 | €69,659 | €16,606 | -€53,053 | -76.2% |
| Current investments | 50/53 | €579,966 | €607,238 | +€27,271 | +4.7% |
| Cash at bank and in hand | 54/58 | €219,939 | €376,363 | +€156,424 | +71.1% |
| Deferred charges and accrued income | 490/1 | €2,716 | €2,828 | +€112 | +4.1% |
| Total equity and liabilities | 10/49 | €1,054,021 | €1,203,943 | +€149,922 | +14.2% |
| Equity | 10/15 | €956,630 | €854,316 | -€102,314 | -10.7% |
| Contributions | 10/11 | €12,397 | €12,397 | = | 0.0% |
| Reserves | 13 | €944,232 | €841,919 | -€102,314 | -10.8% |
| Distributable reserves | 133 | €944,232 | €841,919 | -€102,314 | -10.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €97,391 | €349,627 | +€252,236 | +259% |
| Amounts payable within one year | 42/48 | €97,391 | €349,627 | +€252,236 | +259% |
| Trade debts | 44 | €33,651 | €56,606 | +€22,955 | +68.2% |
| Suppliers | 440/4 | €33,651 | €56,606 | +€22,955 | +68.2% |
| Taxes, remuneration and social security | 45 | €2,455 | €14,842 | +€12,387 | +504% |
| Taxes | 450/3 | €2,455 | €14,842 | +€12,387 | +504% |
| Other amounts payable | 47/48 | €61,285 | €278,179 | +€216,894 | +354% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,475 | €8,324 | -€151 | -1.8% |
| Other operating charges | 640/8 | €2,976 | €2,326 | -€650 | -21.8% |
| Gross operating margin | 9900 | €151,276 | €219,717 | +€68,442 | +45.2% |
| Operating profit (loss) | 9901 | €139,825 | €209,067 | +€69,243 | +49.5% |
| Financial income | 75/76B | €26,770 | €47,119 | +€20,349 | +76.0% |
| Recurring financial income | 75 | €26,770 | €47,119 | +€20,349 | +76.0% |
| Financial charges | 65/66B | €1,573 | €3,576 | +€2,002 | +127% |
| Recurring financial charges | 65 | €1,573 | €3,576 | +€2,002 | +127% |
| Profit (loss) for the period before taxes | 9903 | €165,021 | €252,611 | +€87,590 | +53.1% |
| Income taxes | 67/77 | €48,741 | €76,745 | +€28,005 | +57.5% |
| Profit (loss) for the period | 9904 | €116,280 | €175,865 | +€59,585 | +51.2% |
| Profit (loss) for the period to be appropriated | 9905 | €116,280 | €175,865 | +€59,585 | +51.2% |
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 17 October 2026 via checked.be.