Van Meensel: 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.
Van Meensel
Largest movements
- Current investments +€228,278
up €228,278 (+24.7%), from €925,584 to €1.2m
- Cash -€121,928
down €121,928 (-15.5%), from €786,595 to €664,668
mainly Current investments (-€228,278) and Receivables within one year (-€89,983)
- Receivables within one year +€89,983
up €89,983 (+5.1%), from €1.8m to €1.8m
of which Other amounts receivable: +€110,805
- Reserves +€223,864
up €223,864 (+21.2%), from €1.1m to €1.3m
of which Distributable reserves: +€223,864
- Trade debts -€75,733
down €75,733 (-5.1%), from €1.5m to €1.4m
- Gross operating margin +€75,488
up €75,488 (+18.7%), from €403,865 to €479,353
- Taxes +€25,331
up €25,331 (+23.0%), from €110,274 to €135,605
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 | €3,631,843 | €3,804,964 | +€173,121 | +4.8% |
| Fixed assets | 21/28 | €120,770 | €92,658 | -€28,112 | -23.3% |
| Tangible fixed assets | 22/27 | €120,770 | €92,658 | -€28,112 | -23.3% |
| Land and buildings | 22 | €67,279 | €53,286 | -€13,993 | -20.8% |
| Plant, machinery and equipment | 23 | €25,121 | €36,224 | +€11,103 | +44.2% |
| Furniture and vehicles | 24 | €28,371 | €3,149 | -€25,222 | -88.9% |
| Current assets | 29/58 | €3,511,073 | €3,712,306 | +€201,233 | +5.7% |
| Stocks and contracts in progress | 3 | €40,959 | €46,093 | +€5,134 | +12.5% |
| Stocks | 30/36 | €40,959 | €46,093 | +€5,134 | +12.5% |
| Amounts receivable within one year | 40/41 | €1,751,646 | €1,841,629 | +€89,983 | +5.1% |
| Trade receivables | 40 | €1,573,148 | €1,552,326 | -€20,822 | -1.3% |
| Other amounts receivable | 41 | €178,498 | €289,303 | +€110,805 | +62.1% |
| Current investments | 50/53 | €925,584 | €1,153,862 | +€228,278 | +24.7% |
| Cash at bank and in hand | 54/58 | €786,595 | €664,668 | -€121,928 | -15.5% |
| Deferred charges and accrued income | 490/1 | €6,288 | €6,055 | -€234 | -3.7% |
| Total equity and liabilities | 10/49 | €3,631,843 | €3,804,964 | +€173,121 | +4.8% |
| Equity | 10/15 | €1,967,427 | €2,191,290 | +€223,864 | +11.4% |
| Contributions | 10/11 | €49,579 | €49,579 | = | 0.0% |
| Reserves | 13 | €1,054,191 | €1,278,054 | +€223,864 | +21.2% |
| Tax-exempt reserves | 132 | €6,842 | €6,842 | = | 0.0% |
| Distributable reserves | 133 | €1,047,349 | €1,271,212 | +€223,864 | +21.4% |
| Profit (loss) carried forward | 14 | €863,657 | €863,657 | = | 0.0% |
| Amounts payable | 17/49 | €1,664,416 | €1,613,674 | -€50,742 | -3.0% |
| Amounts payable within one year | 42/48 | €1,533,872 | €1,478,254 | -€55,618 | -3.6% |
| Trade debts | 44 | €1,483,547 | €1,407,814 | -€75,733 | -5.1% |
| Suppliers | 440/4 | €1,483,547 | €1,407,814 | -€75,733 | -5.1% |
| Taxes, remuneration and social security | 45 | €50,325 | €65,605 | +€15,280 | +30.4% |
| Taxes | 450/3 | €50,325 | €65,605 | +€15,280 | +30.4% |
| Other amounts payable | 47/48 | - | €4,835 | +€4,835 | |
| Accrued charges and deferred income | 492/3 | €130,544 | €135,420 | +€4,876 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,829 | €45,155 | -€1,674 | -3.6% |
| Other operating charges | 640/8 | €4,333 | €4,306 | -€27 | -0.6% |
| Gross operating margin | 9900 | €403,865 | €479,353 | +€75,488 | +18.7% |
| Operating profit (loss) | 9901 | €352,704 | €429,892 | +€77,189 | +21.9% |
| Financial charges | 65/66B | €1,916 | €622 | -€1,294 | -67.5% |
| Recurring financial charges | 65 | €1,916 | €622 | -€1,294 | -67.5% |
| Profit (loss) for the period before taxes | 9903 | €350,787 | €429,270 | +€78,483 | +22.4% |
| Income taxes | 67/77 | €110,274 | €135,605 | +€25,331 | +23.0% |
| Profit (loss) for the period | 9904 | €240,514 | €293,665 | +€53,152 | +22.1% |
| Profit (loss) for the period to be appropriated | 9905 | €240,514 | €293,665 | +€53,152 | +22.1% |
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 27 October 2026 via checked.be.