Patrick De Mesmaeker: 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.
Patrick De Mesmaeker
Largest movements
- Intangible fixed assets -€101,258
down €101,258 (-39.0%), from €259,452 to €158,194
- Receivables within one year +€50,316
up €50,316 (+71.3%), from €70,556 to €120,872
of which Other amounts receivable: +€50,091
- Current investments +€27,000
new in 2025: €27,000
- Tangible fixed assets -€25,470
down €25,470 (-67.5%), from €37,742 to €12,272
of which Furniture and vehicles: -€13,470
- Cash +€9,082
up €9,082 (+9.5%), from €95,619 to €104,702
mainly Depreciation (+€129,912) and Net result for the year (+€62,104)
- Debts after one year -€113,074
down €113,074 (-38.3%), from €295,468 to €182,394
- Profit (loss) carried forward +€62,104
up €62,104 (+532%), from €11,671 to €73,775
- Tax, wage and social debts +€21,711
up €21,711 (+58.5%), from €37,100 to €58,812
of which Taxes: +€21,170
- Current portion of long-term debt -€10,346
down €10,346 (-8.4%), from €123,420 to €113,074
- Staff costs -€18,066
down €18,066 (-7.4%), from €244,843 to €226,777
- Taxes +€8,893
up €8,893 (+66.7%), from €13,328 to €22,221
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 | €484,427 | €444,097 | -€40,330 | -8.3% |
| Fixed assets | 21/28 | €298,252 | €171,523 | -€126,728 | -42.5% |
| Intangible fixed assets | 21 | €259,452 | €158,194 | -€101,258 | -39.0% |
| Tangible fixed assets | 22/27 | €37,742 | €12,272 | -€25,470 | -67.5% |
| Plant, machinery and equipment | 23 | €15,386 | €3,386 | -€12,000 | -78.0% |
| Furniture and vehicles | 24 | €22,355 | €8,885 | -€13,470 | -60.3% |
| Financial fixed assets | 28 | €1,058 | €1,058 | = | 0.0% |
| Current assets | 29/58 | €186,175 | €272,573 | +€86,398 | +46.4% |
| Amounts receivable after more than one year | 29 | €20,000 | €20,000 | = | 0.0% |
| Other amounts receivable | 291 | €20,000 | €20,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €70,556 | €120,872 | +€50,316 | +71.3% |
| Trade receivables | 40 | €49,920 | €50,144 | +€225 | +0.5% |
| Other amounts receivable | 41 | €20,636 | €70,727 | +€50,091 | +243% |
| Current investments | 50/53 | - | €27,000 | +€27,000 | |
| Cash at bank and in hand | 54/58 | €95,619 | €104,702 | +€9,082 | +9.5% |
| Total equity and liabilities | 10/49 | €484,427 | €444,097 | -€40,330 | -8.3% |
| Equity | 10/15 | €23,671 | €85,775 | +€62,104 | +262% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,671 | €73,775 | +€62,104 | +532% |
| Amounts payable | 17/49 | €460,756 | €358,321 | -€102,435 | -22.2% |
| Amounts payable after more than one year | 17 | €295,468 | €182,394 | -€113,074 | -38.3% |
| Financial debts | 170/4 | €295,468 | €182,394 | -€113,074 | -38.3% |
| Amounts payable within one year | 42/48 | €165,287 | €175,927 | +€10,640 | +6.4% |
| Current portion of amounts payable after more than one year | 42 | €123,420 | €113,074 | -€10,346 | -8.4% |
| Trade debts | 44 | €4,767 | €4,041 | -€726 | -15.2% |
| Suppliers | 440/4 | €4,767 | €4,041 | -€726 | -15.2% |
| Taxes, remuneration and social security | 45 | €37,100 | €58,812 | +€21,711 | +58.5% |
| Taxes | 450/3 | €13,588 | €34,758 | +€21,170 | +156% |
| Remuneration and social security | 454/9 | €23,512 | €24,053 | +€541 | +2.3% |
| Remuneration, social security and pensions | 62 | €244,843 | €226,777 | -€18,066 | -7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €129,042 | €129,912 | +€870 | +0.7% |
| Other operating charges | 640/8 | €4,840 | €4,725 | -€115 | -2.4% |
| Gross operating margin | 9900 | €444,153 | €445,353 | +€1,200 | +0.3% |
| Operating profit (loss) | 9901 | €65,427 | €83,938 | +€18,511 | +28.3% |
| Financial income | 75/76B | €1,692 | €4,085 | +€2,393 | +141% |
| Recurring financial income | 75 | €1,692 | €4,085 | +€2,393 | +141% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €5,619 | €3,697 | -€1,922 | -34.2% |
| Recurring financial charges | 65 | €5,619 | €3,697 | -€1,922 | -34.2% |
| Profit (loss) for the period before taxes | 9903 | €61,499 | €84,325 | +€22,826 | +37.1% |
| Income taxes | 67/77 | €13,328 | €22,221 | +€8,893 | +66.7% |
| Profit (loss) for the period | 9904 | €48,172 | €62,104 | +€13,933 | +28.9% |
| Profit (loss) for the period to be appropriated | 9905 | €48,172 | €62,104 | +€13,933 | +28.9% |
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 16 October 2026 via checked.be.