PROXY DE MEYER: 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.
PROXY DE MEYER
Largest movements
- Cash +€124,137
up €124,137 (+197%), from €62,904 to €187,042
mainly Net result for the year (+€75,584) and Depreciation (+€60,460)
- Tangible fixed assets -€60,460
down €60,460 (-26.4%), from €228,938 to €168,478
of which Plant, machinery and equipment: -€31,137
- Stocks and contracts -€21,501
down €21,501 (-9.5%), from €227,039 to €205,538
- Receivables within one year +€8,796
up €8,796 (+16.0%), from €55,024 to €63,820
of which Trade receivables: +€16,812
- Profit (loss) carried forward +€75,584
up €75,584 (+89.4%), from -€84,529 to -€8,944
- Debts after one year -€35,231
down €35,231 (-12.0%), from €293,576 to €258,345
of which Financial debts: -€69,057
- Reserves -€27,948
down €27,948 (-90.6%), from €30,838 to €2,890
- Other debts +€25,263
new in 2025: €25,263
- Trade debts +€9,855
up €9,855 (+30.0%), from €32,881 to €42,736
- Gross operating margin -€18,008
down €18,008 (-5.8%), from €311,053 to €293,046
- Depreciation -€16,580
down €16,580 (-21.5%), from €77,041 to €60,460
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 | €578,135 | €629,277 | +€51,142 | +8.8% |
| Fixed assets | 21/28 | €229,153 | €168,693 | -€60,460 | -26.4% |
| Tangible fixed assets | 22/27 | €228,938 | €168,478 | -€60,460 | -26.4% |
| Land and buildings | 22 | €15,504 | €13,405 | -€2,100 | -13.5% |
| Plant, machinery and equipment | 23 | €118,048 | €86,911 | -€31,137 | -26.4% |
| Furniture and vehicles | 24 | €27,216 | €17,035 | -€10,181 | -37.4% |
| Other tangible fixed assets | 26 | €68,170 | €51,128 | -€17,043 | -25.0% |
| Financial fixed assets | 28 | €215 | €215 | = | 0.0% |
| Current assets | 29/58 | €348,982 | €460,584 | +€111,603 | +32.0% |
| Stocks and contracts in progress | 3 | €227,039 | €205,538 | -€21,501 | -9.5% |
| Stocks | 30/36 | €227,039 | €205,538 | -€21,501 | -9.5% |
| Amounts receivable within one year | 40/41 | €55,024 | €63,820 | +€8,796 | +16.0% |
| Trade receivables | 40 | €35,160 | €51,973 | +€16,812 | +47.8% |
| Other amounts receivable | 41 | €19,863 | €11,848 | -€8,016 | -40.4% |
| Current investments | 50/53 | €1,393 | - | -€1,393 | |
| Cash at bank and in hand | 54/58 | €62,904 | €187,042 | +€124,137 | +197% |
| Deferred charges and accrued income | 490/1 | €2,621 | €4,184 | +€1,563 | +59.6% |
| Total equity and liabilities | 10/49 | €578,135 | €629,277 | +€51,142 | +8.8% |
| Equity | 10/15 | €146,310 | €193,946 | +€47,637 | +32.6% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €30,838 | €2,890 | -€27,948 | -90.6% |
| Distributable reserves | 133 | €30,838 | €2,890 | -€27,948 | -90.6% |
| Profit (loss) carried forward | 14 | -€84,529 | -€8,944 | +€75,584 | +89.4% |
| Amounts payable | 17/49 | €431,825 | €435,331 | +€3,506 | +0.8% |
| Amounts payable after more than one year | 17 | €293,576 | €258,345 | -€35,231 | -12.0% |
| Financial debts | 170/4 | €78,267 | €9,210 | -€69,057 | -88.2% |
| Trade debts | 175 | €215,308 | €249,135 | +€33,826 | +15.7% |
| Amounts payable within one year | 42/48 | €133,371 | €172,107 | +€38,736 | +29.0% |
| Current portion of amounts payable after more than one year | 42 | €68,309 | €69,057 | +€748 | +1.1% |
| Trade debts | 44 | €32,881 | €42,736 | +€9,855 | +30.0% |
| Suppliers | 440/4 | €32,881 | €42,736 | +€9,855 | +30.0% |
| Taxes, remuneration and social security | 45 | €32,181 | €35,052 | +€2,871 | +8.9% |
| Taxes | 450/3 | €257 | €2,177 | +€1,921 | +748% |
| Remuneration and social security | 454/9 | €31,924 | €32,874 | +€950 | +3.0% |
| Other amounts payable | 47/48 | - | €25,263 | +€25,263 | |
| Accrued charges and deferred income | 492/3 | €4,879 | €4,879 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €143,008 | €144,805 | +€1,798 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,041 | €60,460 | -€16,580 | -21.5% |
| Other operating charges | 640/8 | €2,231 | €2,020 | -€210 | -9.4% |
| Gross operating margin | 9900 | €311,053 | €293,046 | -€18,008 | -5.8% |
| Operating profit (loss) | 9901 | €88,775 | €85,760 | -€3,014 | -3.4% |
| Financial income | 75/76B | €79 | €62 | -€18 | -22.4% |
| Recurring financial income | 75 | €79 | €62 | -€18 | -22.4% |
| Financial charges | 65/66B | €10,021 | €10,098 | +€76 | +0.8% |
| Recurring financial charges | 65 | €10,021 | €10,098 | +€76 | +0.8% |
| Profit (loss) for the period before taxes | 9903 | €78,833 | €75,724 | -€3,109 | -3.9% |
| Income taxes | 67/77 | €141 | €140 | -€2 | -1.1% |
| Profit (loss) for the period | 9904 | €78,692 | €75,584 | -€3,107 | -3.9% |
| Profit (loss) for the period to be appropriated | 9905 | €78,692 | €75,584 | -€3,107 | -3.9% |
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 14 October 2026 via checked.be.