S.A. ANDRE MEENS: 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.
S.A. ANDRE MEENS
Largest movements
- Cash -€154,354
down €154,354 (-48.2%), from €320,334 to €165,980
mainly Contributions, distributions and other (-€250,091) and Current investments (-€150,369)
- Current investments +€150,369
up €150,369 (+671%), from €22,401 to €172,770
- Tangible fixed assets -€141,815
down €141,815 (-11.0%), from €1.3m to €1.1m
of which Plant, machinery and equipment: -€79,588
- Receivables within one year +€55,078
up €55,078 (+10.1%), from €544,660 to €599,738
of which Trade receivables: +€119,041
- Reserves -€299,200
down €299,200 (-23.8%), from €1.3m to €955,625
of which Distributable reserves: -€278,000
- Profit (loss) carried forward +€224,065
up €224,065 (+58.4%), from €383,761 to €607,827
- Debts after one year -€78,403
down €78,403 (-36.2%), from €216,645 to €138,242
- Other debts +€72,000
up €72,000 (+31.9%), from €226,000 to €298,000
- Tax, wage and social debts -€37,088
down €37,088 (-36.9%), from €100,623 to €63,535
of which Remuneration and social security: -€29,021
- Financial charges +€170,937
up €170,937 (+5,763%), from €2,966 to €173,902
- Gross operating margin +€81,791
up €81,791 (+6.0%), from €1.4m to €1.4m
- Depreciation +€19,444
up €19,444 (+8.1%), from €240,751 to €260,195
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 | €2,477,273 | €2,361,286 | -€115,987 | -4.7% |
| Fixed assets | 21/28 | €1,300,926 | €1,154,955 | -€145,970 | -11.2% |
| Intangible fixed assets | 21 | €14,421 | €10,265 | -€4,156 | -28.8% |
| Tangible fixed assets | 22/27 | €1,286,505 | €1,144,690 | -€141,815 | -11.0% |
| Land and buildings | 22 | €595,159 | €545,597 | -€49,562 | -8.3% |
| Plant, machinery and equipment | 23 | €623,649 | €544,060 | -€79,588 | -12.8% |
| Furniture and vehicles | 24 | €67,697 | €55,033 | -€12,664 | -18.7% |
| Current assets | 29/58 | €1,176,347 | €1,206,330 | +€29,983 | +2.5% |
| Stocks and contracts in progress | 3 | €266,361 | €267,843 | +€1,482 | +0.6% |
| Stocks | 30/36 | €266,361 | €267,843 | +€1,482 | +0.6% |
| Amounts receivable within one year | 40/41 | €544,660 | €599,738 | +€55,078 | +10.1% |
| Trade receivables | 40 | €299,623 | €418,664 | +€119,041 | +39.7% |
| Other amounts receivable | 41 | €245,037 | €181,073 | -€63,964 | -26.1% |
| Current investments | 50/53 | €22,401 | €172,770 | +€150,369 | +671% |
| Cash at bank and in hand | 54/58 | €320,334 | €165,980 | -€154,354 | -48.2% |
| Deferred charges and accrued income | 490/1 | €22,592 | €0 | -€22,592 | -100% |
| Total equity and liabilities | 10/49 | €2,477,273 | €2,361,286 | -€115,987 | -4.7% |
| Equity | 10/15 | €1,700,586 | €1,653,360 | -€47,226 | -2.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,254,824 | €955,625 | -€299,200 | -23.8% |
| Non-distributable reserves | 130/1 | €26,000 | €26,000 | = | 0.0% |
| Legal reserve | 130 | €26,000 | €26,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €310,824 | €289,625 | -€21,200 | -6.8% |
| Distributable reserves | 133 | €918,000 | €640,000 | -€278,000 | -30.3% |
| Profit (loss) carried forward | 14 | €383,761 | €607,827 | +€224,065 | +58.4% |
| Investment grants | 15 | - | €27,909 | +€27,909 | |
| Provisions and deferred taxes | 16 | €84,858 | €77,792 | -€7,067 | -8.3% |
| Deferred taxes | 168 | €84,858 | €77,792 | -€7,067 | -8.3% |
| Amounts payable | 17/49 | €691,829 | €630,134 | -€61,695 | -8.9% |
| Amounts payable after more than one year | 17 | €216,645 | €138,242 | -€78,403 | -36.2% |
| Financial debts | 170/4 | €216,645 | €138,242 | -€78,403 | -36.2% |
| Amounts payable within one year | 42/48 | €475,184 | €491,892 | +€16,709 | +3.5% |
| Current portion of amounts payable after more than one year | 42 | €82,442 | €78,403 | -€4,039 | -4.9% |
| Trade debts | 44 | €66,119 | €51,954 | -€14,164 | -21.4% |
| Suppliers | 440/4 | €66,119 | €51,954 | -€14,164 | -21.4% |
| Taxes, remuneration and social security | 45 | €100,623 | €63,535 | -€37,088 | -36.9% |
| Taxes | 450/3 | €9,691 | €1,624 | -€8,067 | -83.2% |
| Remuneration and social security | 454/9 | €90,932 | €61,910 | -€29,021 | -31.9% |
| Other amounts payable | 47/48 | €226,000 | €298,000 | +€72,000 | +31.9% |
| Remuneration, social security and pensions | 62 | €762,904 | €766,672 | +€3,768 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €240,751 | €260,195 | +€19,444 | +8.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €8,395 | +€8,395 | |
| Other operating charges | 640/8 | €18,489 | €19,536 | +€1,047 | +5.7% |
| Gross operating margin | 9900 | €1,364,900 | €1,446,691 | +€81,791 | +6.0% |
| Operating profit (loss) | 9901 | €342,756 | €391,893 | +€49,136 | +14.3% |
| Financial income | 75/76B | €37,406 | €41,183 | +€3,778 | +10.1% |
| Recurring financial income | 75 | €15,406 | €32,458 | +€17,052 | +111% |
| Non-recurring financial income | 76B | €22,000 | €8,725 | -€13,275 | -60.3% |
| Financial charges | 65/66B | €2,966 | €173,902 | +€170,937 | +5,763% |
| Recurring financial charges | 65 | €2,966 | €173,902 | +€170,937 | +5,763% |
| Profit (loss) for the period before taxes | 9903 | €377,196 | €259,173 | -€118,023 | -31.3% |
| Transfer from deferred taxes | 780 | €7,067 | €7,067 | = | 0.0% |
| Income taxes | 67/77 | €76,150 | €63,374 | -€12,775 | -16.8% |
| Profit (loss) for the period | 9904 | €308,113 | €202,866 | -€105,247 | -34.2% |
| Transfer from tax-exempt reserves | 789 | €21,200 | €21,200 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €329,313 | €224,065 | -€105,247 | -32.0% |
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 29 October 2026 via checked.be.