SVEN DEMEULEMEESTER: 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.
SVEN DEMEULEMEESTER
Largest movements
- Tangible fixed assets +€98,730
up €98,730 (+17.2%), from €573,559 to €672,289
of which Land and buildings: +€74,765
- Other debts +€115,439
up €115,439 (+1,162%), from €9,939 to €125,378
- Tax, wage and social debts +€64,744
up €64,744 (+76.6%), from €84,481 to €149,226
- Reserves -€26,009
down €26,009 (-3.4%), from €775,609 to €749,600
of which Distributable reserves: -€26,009
- Debts after one year -€23,878
down €23,878 (-13.6%), from €175,511 to €151,633
- Trade debts -€12,898
down €12,898 (-57.3%), from €22,508 to €9,609
- Gross operating margin +€20,476
up €20,476 (+6.9%), from €295,757 to €316,233
- Depreciation +€8,118
up €8,118 (+28.5%), from €28,477 to €36,595
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 | €1,103,976 | €1,224,608 | +€120,632 | +10.9% |
| Fixed assets | 21/28 | €584,990 | €683,720 | +€98,730 | +16.9% |
| Tangible fixed assets | 22/27 | €573,559 | €672,289 | +€98,730 | +17.2% |
| Land and buildings | 22 | €562,521 | €637,286 | +€74,765 | +13.3% |
| Plant, machinery and equipment | 23 | €1,449 | €725 | -€725 | -50.0% |
| Furniture and vehicles | 24 | €4,901 | €29,285 | +€24,384 | +498% |
| Other tangible fixed assets | 26 | €4,688 | €4,993 | +€306 | +6.5% |
| Financial fixed assets | 28 | €11,431 | €11,431 | = | 0.0% |
| Current assets | 29/58 | €518,987 | €540,888 | +€21,902 | +4.2% |
| Amounts receivable within one year | 40/41 | €414,183 | €425,182 | +€11,000 | +2.7% |
| Trade receivables | 40 | €410,583 | €425,182 | +€14,600 | +3.6% |
| Other amounts receivable | 41 | €3,600 | €0 | -€3,600 | -100% |
| Cash at bank and in hand | 54/58 | €101,229 | €111,927 | +€10,697 | +10.6% |
| Deferred charges and accrued income | 490/1 | €3,574 | €3,779 | +€205 | +5.7% |
| Total equity and liabilities | 10/49 | €1,103,976 | €1,224,608 | +€120,632 | +10.9% |
| Equity | 10/15 | €788,009 | €762,000 | -€26,009 | -3.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €775,609 | €749,600 | -€26,009 | -3.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €129 | €129 | = | 0.0% |
| Distributable reserves | 133 | €775,480 | €749,471 | -€26,009 | -3.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €315,968 | €462,608 | +€146,640 | +46.4% |
| Amounts payable after more than one year | 17 | €175,511 | €151,633 | -€23,878 | -13.6% |
| Financial debts | 170/4 | €175,511 | €151,633 | -€23,878 | -13.6% |
| Amounts payable within one year | 42/48 | €140,225 | €308,090 | +€167,865 | +120% |
| Current portion of amounts payable after more than one year | 42 | €23,297 | €23,878 | +€581 | +2.5% |
| Trade debts | 44 | €22,508 | €9,609 | -€12,898 | -57.3% |
| Suppliers | 440/4 | €22,508 | €9,609 | -€12,898 | -57.3% |
| Taxes, remuneration and social security | 45 | €84,481 | €149,226 | +€64,744 | +76.6% |
| Taxes | 450/3 | €84,481 | €149,226 | +€64,744 | +76.6% |
| Other amounts payable | 47/48 | €9,939 | €125,378 | +€115,439 | +1,162% |
| Accrued charges and deferred income | 492/3 | €232 | €2,884 | +€2,653 | +1,145% |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,477 | €36,595 | +€8,118 | +28.5% |
| Other operating charges | 640/8 | €5,834 | €5,704 | -€130 | -2.2% |
| Gross operating margin | 9900 | €295,757 | €316,233 | +€20,476 | +6.9% |
| Operating profit (loss) | 9901 | €261,446 | €273,934 | +€12,488 | +4.8% |
| Financial income | 75/76B | €158 | €0 | -€157 | -99.7% |
| Recurring financial income | 75 | €158 | €0 | -€157 | -99.7% |
| Financial charges | 65/66B | €6,945 | €8,624 | +€1,679 | +24.2% |
| Recurring financial charges | 65 | €6,945 | €8,624 | +€1,679 | +24.2% |
| Profit (loss) for the period before taxes | 9903 | €254,659 | €265,310 | +€10,651 | +4.2% |
| Income taxes | 67/77 | €80,805 | €82,918 | +€2,113 | +2.6% |
| Profit (loss) for the period | 9904 | €173,853 | €182,392 | +€8,538 | +4.9% |
| Profit (loss) for the period to be appropriated | 9905 | €173,853 | €182,392 | +€8,538 | +4.9% |
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 13 October 2026 via checked.be.