Seppe De Meyer: what changed
What changed
Seppe De Meyer
filed annual accounts (NBB)
Net result for the year
€40,293
2024 · €15,998+€24,295
Equity
€70,000
2024 · €41,543+€28,457
Cash
€13,383
2024 · €12,611+€772
Balance sheet total
€113,223
2024 · €49,839+€63,384
Largest movements
Assets
- Receivables after one year +€58,500
new in 2025: €58,500
- Receivables within one year +€11,414
up €11,414 (+57.5%), from €19,867 to €31,280
of which Trade receivables: +€9,135
- Current investments -€6,523
down €6,523 (-100%), from €6,523 to €0
Equity and liabilities
- Reserves +€28,457
up €28,457 (+73.8%), from €38,543 to €67,000
- Other debts +€27,156
up €27,156, from €0 to €27,156
- Debts after one year +€8,762
new in 2025: €8,762
- Tax, wage and social debts -€6,224
down €6,224 (-75.8%), from €8,211 to €1,987
- Current portion of long-term debt +€4,738
up €4,738, from €0 to €4,738
Income statement
- Gross operating margin +€29,835
up €29,835 (+121%), from €24,588 to €54,423
- Taxes +€5,892
up €5,892 (+99.2%), from €5,938 to €11,830
- Financial income +€2,004
up €2,004 (+291%), from €688 to €2,692
- Financial charges +€977
up €977 (+72.8%), from €1,343 to €2,320
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€15,998
Gross operating margin
+€29,835
Depreciation
-€191
Other operating charges
-€484
Financial income
+€2,004
Financial charges
-€977
Taxes
-€5,892
Result 2025
€40,293
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€5,570
Investment
+€4,678
Financing
+€1,664
Cash 2024
€12,611
From operations (derived)
-€5,570
Net result for the year
+€40,293
Depreciation
+€1,539
Receivables after one year
-€58,500
Receivables within one year
-€11,414
Deferred charges and accrued income
+€1,085
Trade debts
+€495
Tax, wage and social debts
-€6,224
Other debts
+€27,156
Investment (derived)
+€4,678
Investment in fixed assets (net)
-€1,845
Current investments
+€6,523
Financing
+€1,664
Debts after one year
+€8,762
Current portion of long-term debt
+€4,738
Contributions, distributions and other
-€11,836
Cash 2025
€13,383
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €49,839 | €113,223 | +€63,384 | +127% |
| Fixed assets | 21/28 | €4,965 | €5,271 | +€306 | +6.2% |
| Tangible fixed assets | 22/27 | €4,965 | €5,271 | +€306 | +6.2% |
| Plant, machinery and equipment | 23 | €990 | €730 | -€260 | -26.2% |
| Furniture and vehicles | 24 | €1,274 | €2,134 | +€859 | +67.4% |
| Other tangible fixed assets | 26 | €2,700 | €2,407 | -€293 | -10.9% |
| Current assets | 29/58 | €44,874 | €107,952 | +€63,077 | +141% |
| Amounts receivable after more than one year | 29 | - | €58,500 | +€58,500 | |
| Other amounts receivable | 291 | - | €58,500 | +€58,500 | |
| Amounts receivable within one year | 40/41 | €19,867 | €31,280 | +€11,414 | +57.5% |
| Trade receivables | 40 | €11,314 | €20,448 | +€9,135 | +80.7% |
| Other amounts receivable | 41 | €8,553 | €10,832 | +€2,279 | +26.6% |
| Current investments | 50/53 | €6,523 | €0 | -€6,523 | -100% |
| Cash at bank and in hand | 54/58 | €12,611 | €13,383 | +€772 | +6.1% |
| Deferred charges and accrued income | 490/1 | €5,874 | €4,788 | -€1,085 | -18.5% |
| Total equity and liabilities | 10/49 | €49,839 | €113,223 | +€63,384 | +127% |
| Equity | 10/15 | €41,543 | €70,000 | +€28,457 | +68.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €38,543 | €67,000 | +€28,457 | +73.8% |
| Distributable reserves | 133 | €38,543 | €67,000 | +€28,457 | +73.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €8,296 | €43,223 | +€34,927 | +421% |
| Amounts payable after more than one year | 17 | - | €8,762 | +€8,762 | |
| Financial debts | 170/4 | - | €8,762 | +€8,762 | |
| Amounts payable within one year | 42/48 | €8,296 | €34,461 | +€26,165 | +315% |
| Current portion of amounts payable after more than one year | 42 | €0 | €4,738 | +€4,738 | |
| Trade debts | 44 | €85 | €579 | +€495 | +584% |
| Suppliers | 440/4 | €85 | €579 | +€495 | +584% |
| Taxes, remuneration and social security | 45 | €8,211 | €1,987 | -€6,224 | -75.8% |
| Taxes | 450/3 | €8,211 | €1,987 | -€6,224 | -75.8% |
| Other amounts payable | 47/48 | €0 | €27,156 | +€27,156 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,347 | €1,539 | +€191 | +14.2% |
| Other operating charges | 640/8 | €651 | €1,135 | +€484 | +74.4% |
| Gross operating margin | 9900 | €24,588 | €54,423 | +€29,835 | +121% |
| Operating profit (loss) | 9901 | €22,590 | €51,750 | +€29,160 | +129% |
| Financial income | 75/76B | €688 | €2,692 | +€2,004 | +291% |
| Recurring financial income | 75 | €688 | €2,692 | +€2,004 | +291% |
| Financial charges | 65/66B | €1,343 | €2,320 | +€977 | +72.8% |
| Recurring financial charges | 65 | €1,343 | €2,320 | +€977 | +72.8% |
| Profit (loss) for the period before taxes | 9903 | €21,935 | €52,122 | +€30,187 | +138% |
| Income taxes | 67/77 | €5,938 | €11,830 | +€5,892 | +99.2% |
| Profit (loss) for the period | 9904 | €15,998 | €40,293 | +€24,295 | +152% |
| Profit (loss) for the period to be appropriated | 9905 | €15,998 | €40,293 | +€24,295 | +152% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.