Stefan Meert: 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.
Stefan Meert
Largest movements
- Cash +€25,027
up €25,027 (+29.0%), from €86,205 to €111,231
mainly Net result for the year (+€33,271) and Depreciation (+€1,646)
- Tangible fixed assets -€1,646
down €1,646 (-64.4%), from €2,557 to €911
of which Furniture and vehicles: -€1,241
- Reserves +€30,771
up €30,771 (+56.4%), from €54,596 to €85,366
- Advances received -€4,622
down €4,622 (-100%), from €4,622 to €0
- Trade debts -€3,524
down €3,524 (-80.4%), from €4,386 to €862
- Gross operating margin +€5,091
up €5,091 (+13.0%), from €39,167 to €44,258
- Taxes +€1,057
up €1,057 (+13.5%), from €7,838 to €8,895
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 | €96,417 | €119,965 | +€23,548 | +24.4% |
| Fixed assets | 21/28 | €2,557 | €911 | -€1,646 | -64.4% |
| Tangible fixed assets | 22/27 | €2,557 | €911 | -€1,646 | -64.4% |
| Plant, machinery and equipment | 23 | €1,316 | €911 | -€405 | -30.8% |
| Furniture and vehicles | 24 | €1,241 | €0 | -€1,241 | -100% |
| Current assets | 29/58 | €93,860 | €119,054 | +€25,193 | +26.8% |
| Amounts receivable within one year | 40/41 | €7,656 | €7,823 | +€167 | +2.2% |
| Trade receivables | 40 | €7,656 | €7,564 | -€91 | -1.2% |
| Other amounts receivable | 41 | €0 | €258 | +€258 | |
| Cash at bank and in hand | 54/58 | €86,205 | €111,231 | +€25,027 | +29.0% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €96,417 | €119,965 | +€23,548 | +24.4% |
| Equity | 10/15 | €69,596 | €100,366 | +€30,771 | +44.2% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €54,596 | €85,366 | +€30,771 | +56.4% |
| Distributable reserves | 133 | €54,596 | €85,366 | +€30,771 | +56.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €26,821 | €19,598 | -€7,223 | -26.9% |
| Amounts payable within one year | 42/48 | €25,855 | €18,632 | -€7,223 | -27.9% |
| Trade debts | 44 | €4,386 | €862 | -€3,524 | -80.4% |
| Suppliers | 440/4 | €4,386 | €862 | -€3,524 | -80.4% |
| Advances received on contracts in progress | 46 | €4,622 | €0 | -€4,622 | -100% |
| Taxes, remuneration and social security | 45 | €16,579 | €17,771 | +€1,192 | +7.2% |
| Taxes | 450/3 | €16,579 | €17,771 | +€1,192 | +7.2% |
| Other amounts payable | 47/48 | €268 | €0 | -€268 | -100% |
| Accrued charges and deferred income | 492/3 | €966 | €966 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,765 | €1,646 | -€120 | -6.8% |
| Gross operating margin | 9900 | €39,167 | €44,258 | +€5,091 | +13.0% |
| Operating profit (loss) | 9901 | €37,402 | €42,612 | +€5,211 | +13.9% |
| Financial income | 75/76B | €0 | €78 | +€78 | |
| Recurring financial income | 75 | €0 | €78 | +€78 | |
| Financial charges | 65/66B | €457 | €525 | +€68 | +14.8% |
| Recurring financial charges | 65 | €457 | €525 | +€68 | +14.8% |
| Profit (loss) for the period before taxes | 9903 | €36,944 | €42,165 | +€5,221 | +14.1% |
| Income taxes | 67/77 | €7,838 | €8,895 | +€1,057 | +13.5% |
| Profit (loss) for the period | 9904 | €29,107 | €33,271 | +€4,164 | +14.3% |
| Profit (loss) for the period to be appropriated | 9905 | €29,107 | €33,271 | +€4,164 | +14.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.