PASCAL MEIJER: 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.
PASCAL MEIJER
Largest movements
- Receivables within one year +€112,462
up €112,462 (+71.7%), from €156,780 to €269,241
of which Other amounts receivable: +€111,379
- Reserves +€92,145
up €92,145 (+76.5%), from €120,526 to €212,671
- Tax, wage and social debts +€19,187
up €19,187 (+55.5%), from €34,558 to €53,745
- Gross operating margin +€47,252
up €47,252 (+32.8%), from €144,070 to €191,322
- Taxes +€4,127
up €4,127 (+81.1%), from €5,087 to €9,214
- Other operating charges +€4,043
up €4,043 (+8.6%), from €47,206 to €51,249
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 | €157,645 | €270,059 | +€112,414 | +71.3% |
| Fixed assets | 21/28 | €1 | €1 | = | 0.0% |
| Financial fixed assets | 28 | €1 | €1 | = | 0.0% |
| Current assets | 29/58 | €157,644 | €270,058 | +€112,414 | +71.3% |
| Amounts receivable within one year | 40/41 | €156,780 | €269,241 | +€112,462 | +71.7% |
| Trade receivables | 40 | €1,007 | €2,090 | +€1,083 | +107.5% |
| Other amounts receivable | 41 | €155,772 | €267,151 | +€111,379 | +71.5% |
| Cash at bank and in hand | 54/58 | €864 | €817 | -€48 | -5.5% |
| Total equity and liabilities | 10/49 | €157,645 | €270,059 | +€112,414 | +71.3% |
| Equity | 10/15 | €120,626 | €212,771 | +€92,145 | +76.4% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €120,526 | €212,671 | +€92,145 | +76.5% |
| Distributable reserves | 133 | €120,526 | €212,671 | +€92,145 | +76.5% |
| Amounts payable | 17/49 | €37,019 | €57,288 | +€20,269 | +54.8% |
| Amounts payable within one year | 42/48 | €37,019 | €57,288 | +€20,269 | +54.8% |
| Trade debts | 44 | €1,007 | €2,090 | +€1,083 | +107.5% |
| Suppliers | 440/4 | €1,007 | €2,090 | +€1,083 | +107.5% |
| Taxes, remuneration and social security | 45 | €34,558 | €53,745 | +€19,187 | +55.5% |
| Taxes | 450/3 | €34,558 | €53,745 | +€19,187 | +55.5% |
| Other amounts payable | 47/48 | €1,453 | €1,453 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,228 | €33,574 | -€1,654 | -4.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €759 | +€759 | |
| Other operating charges | 640/8 | €47,206 | €51,249 | +€4,043 | +8.6% |
| Gross operating margin | 9900 | €144,070 | €191,322 | +€47,252 | +32.8% |
| Operating profit (loss) | 9901 | €61,636 | €105,740 | +€44,104 | +71.6% |
| Financial income | 75/76B | €1,146 | €1,910 | +€764 | +66.6% |
| Recurring financial income | 75 | €1,146 | €1,910 | +€764 | +66.6% |
| Financial charges | 65/66B | €6,822 | €6,291 | -€531 | -7.8% |
| Recurring financial charges | 65 | €6,822 | €6,291 | -€531 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | €55,960 | €101,359 | +€45,399 | +81.1% |
| Income taxes | 67/77 | €5,087 | €9,214 | +€4,127 | +81.1% |
| Profit (loss) for the period | 9904 | €50,873 | €92,145 | +€41,272 | +81.1% |
| Profit (loss) for the period to be appropriated | 9905 | €50,873 | €92,145 | +€41,272 | +81.1% |
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 9 October 2026 via checked.be.