Thomas Meert: what changed
Two fiscal 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.
Thomas Meert
Largest movements
- Cash +€30,944
up €30,944 (+57.8%), from €53,506 to €84,450
mainly Net result for the year (+€34,843) and Depreciation (+€16,091)
- Tangible fixed assets -€7,091
down €7,091 (-44.7%), from €15,861 to €8,770
of which Furniture and vehicles: -€5,980
- Deferred charges and accrued income +€2,089
up €2,089 (+5596.5%), from €37 to €2,126
- Reserves +€34,843
up €34,843 (+67.5%), from €51,593 to €86,436
- Current portion of long-term debt -€6,327
down €6,327 (-65.5%), from €9,666 to €3,339
- Debts after one year -€3,339
down €3,339 (-100.0%), from €3,339 to €0
- Other debts +€2,100
up €2,100 (+3109.3%), from €68 to €2,168
- Trade debts -€1,436
down €1,436 (-97.3%), from €1,476 to €39
- Depreciation +€3,554
up €3,554 (+28.3%), from €12,537 to €16,091
- Gross operating margin +€2,462
up €2,462 (+4.2%), from €58,537 to €61,000
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.
Cash bridge derived
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 | €85,442 | €112,042 | +€26,600 | +31.1% |
| Fixed assets | 21/28 | €15,861 | €8,770 | -€7,091 | -44.7% |
| Tangible fixed assets | 22/27 | €15,861 | €8,770 | -€7,091 | -44.7% |
| Plant, machinery and equipment | 23 | €1,714 | €603 | -€1,111 | -64.8% |
| Furniture and vehicles | 24 | €14,147 | €8,167 | -€5,980 | -42.3% |
| Current assets | 29/58 | €69,582 | €103,273 | +€33,691 | +48.4% |
| Amounts receivable within one year | 40/41 | €16,038 | €16,697 | +€659 | +4.1% |
| Trade receivables | 40 | €16,033 | €16,691 | +€659 | +4.1% |
| Other amounts receivable | 41 | €6 | €6 | -€0 | -1.1% |
| Cash at bank and in hand | 54/58 | €53,506 | €84,450 | +€30,944 | +57.8% |
| Deferred charges and accrued income | 490/1 | €37 | €2,126 | +€2,089 | +5596.5% |
| Total equity and liabilities | 10/49 | €85,442 | €112,042 | +€26,600 | +31.1% |
| Equity | 10/15 | €54,593 | €89,436 | +€34,843 | +63.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €51,593 | €86,436 | +€34,843 | +67.5% |
| Distributable reserves | 133 | €51,593 | €86,436 | +€34,843 | +67.5% |
| Amounts payable | 17/49 | €30,849 | €22,606 | -€8,243 | -26.7% |
| Amounts payable after more than one year | 17 | €3,339 | €0 | -€3,339 | -100.0% |
| Financial debts | 170/4 | €3,339 | €0 | -€3,339 | -100.0% |
| Amounts payable within one year | 42/48 | €27,511 | €22,606 | -€4,905 | -17.8% |
| Current portion of amounts payable after more than one year | 42 | €9,666 | €3,339 | -€6,327 | -65.5% |
| Financial debts | 43 | €51 | €398 | +€346 | +672.4% |
| Credit institutions | 430/8 | €51 | €398 | +€346 | +672.4% |
| Trade debts | 44 | €1,476 | €39 | -€1,436 | -97.3% |
| Suppliers | 440/4 | €1,476 | €39 | -€1,436 | -97.3% |
| Taxes, remuneration and social security | 45 | €16,251 | €16,663 | +€412 | +2.5% |
| Taxes | 450/3 | €16,251 | €16,663 | +€412 | +2.5% |
| Other amounts payable | 47/48 | €68 | €2,168 | +€2,100 | +3109.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,537 | €16,091 | +€3,554 | +28.3% |
| Other operating charges | 640/8 | €64 | €221 | +€157 | +246.3% |
| Gross operating margin | 9900 | €58,537 | €61,000 | +€2,462 | +4.2% |
| Operating profit (loss) | 9901 | €45,937 | €44,688 | -€1,249 | -2.7% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,134 | €639 | -€496 | -43.7% |
| Recurring financial charges | 65 | €1,134 | €639 | -€496 | -43.7% |
| Profit (loss) for the period before taxes | 9903 | €44,802 | €44,049 | -€753 | -1.7% |
| Income taxes | 67/77 | €9,336 | €9,206 | -€130 | -1.4% |
| Profit (loss) for the period | 9904 | €35,467 | €34,843 | -€623 | -1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €35,467 | €34,843 | -€623 | -1.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.