Meeus
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 6 days after the deadline Filed on 6 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00388141.
Annual accounts 2025 filed on 06-08-2026 at the NBB all 19 filings
Every figure per financial year
The operating result for 2025 is a loss of €7,976, after a profit of €1,788 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €32,681 | - | €336,000 | €14,225 | - |
| Depreciation and write-downs of the year | €6,536 | €6,536 | €13,834 | €18,105 | €18,341 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | €5,094 | - | - |
| Remuneration, social security and pensions62 | - | - | - | €347 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,408 | €4,408 | - | €6,536 | €6,536 | €13,834 | €18,105 | €18,341 | ▲ 1.3% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | €14,610 | -€14,610 | - | - | - |
| Other operating charges640/8 | - | - | - | €1,602 | €976 | €2,361 | €3,981 | €3,729 | ▼ 6.3% |
| Non-recurring operating charges66A | - | - | - | - | €3,696 | €15,455 | - | - | - |
| Gross operating margin9900 | €172,215 | €6,136 | €21,513 | €38,817 | €39,771 | -€24,123 | €23,874 | €14,094 | ▼ 41.0% |
| Operating profit (loss)9901 | €163,108 | €229 | €20,152 | €30,332 | €13,953 | -€41,163 | €1,788 | -€7,976 | - |
| Financial charges65/66B | - | - | - | €16,739 | €304 | €66 | €303 | €153 | ▼ 49.4% |
| Recurring financial charges65 | €113 | €207 | €144 | €229 | €304 | €66 | €303 | €153 | ▼ 49.4% |
| Non-recurring financial charges66B | - | - | - | €16,510 | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €162,995 | €22 | €20,008 | €13,593 | €13,649 | -€41,229 | €1,486 | -€8,129 | - |
| Income taxes67/77 | €49,337 | €796 | €6,763 | €5,777 | €6,571 | €595 | €285 | - | - |
| Profit (loss) for the period9904 | €113,658 | -€774 | €13,245 | €7,816 | €7,078 | -€41,824 | €1,201 | -€8,129 | - |
| Profit (loss) for the period to be appropriated9905 | €113,658 | -€774 | €13,245 | €7,816 | €7,078 | -€41,824 | €1,201 | -€8,129 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €490,870 | €550,139 | €473,644 | €448,899 | €419,928 | €353,190 | €357,628 | €347,847 | ▼ 2.7% |
| Fixed assets21/28 | €4,408 | - | - | €26,145 | €19,609 | €341,774 | €337,894 | €319,553 | ▼ 5.4% |
| Tangible fixed assets22/27 | €4,408 | - | - | €26,145 | €19,609 | €341,774 | €337,894 | €319,553 | ▼ 5.4% |
| Land and buildings22 | - | - | - | - | - | €328,702 | €331,358 | €319,553 | ▼ 3.6% |
| Furniture and vehicles24 | - | - | - | €26,145 | €19,609 | €13,072 | €6,536 | - | - |
| Current assets29/58 | €486,462 | €550,139 | €473,644 | €422,754 | €400,319 | €11,416 | €19,734 | €28,294 | ▲ 43.4% |
| Amounts receivable within one year40/41 | €212,580 | €203,784 | €119,211 | €68,129 | €8,768 | €8,911 | €3,215 | - | - |
| Trade receivables40 | - | - | - | €29,061 | - | - | - | - | - |
| Other amounts receivable41 | - | - | - | €39,068 | €8,768 | €8,911 | €3,215 | - | - |
| Cash at bank and in hand54/58 | €273,882 | €346,355 | €354,433 | €354,625 | €391,551 | €2,505 | €15,803 | €27,934 | ▲ 76.8% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | - | €716 | €360 | ▼ 49.8% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €490,870 | €550,139 | €473,644 | €448,899 | €419,928 | €353,190 | €357,628 | €347,847 | ▼ 2.7% |
| Equity10/15 | €376,840 | €364,831 | €378,076 | €385,892 | €392,969 | €351,145 | €352,346 | €344,217 | ▼ 2.3% |
| Contributions10/11 | €20,000 | €20,000 | - | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €2,000 | €104,000 | €117,245 | €125,061 | €132,138 | €132,138 | €132,138 | €132,138 | = |
| Non-distributable reserves130/1 | - | - | - | €125,061 | €2,000 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €2,000 | €2,000 | - | - | - | - |
| Other1319 | - | - | - | €123,061 | - | - | - | - | - |
| Distributable reserves133 | - | - | - | - | €130,138 | €132,138 | €132,138 | €132,138 | = |
| Profit (loss) carried forward14 | €354,840 | €240,831 | €240,831 | €240,831 | €240,831 | €199,007 | €200,208 | €192,079 | ▼ 4.1% |
| Provisions and deferred taxes16 | - | - | - | - | €14,610 | - | - | - | - |
| Provisions for liabilities and charges160/5 | - | - | - | - | €14,610 | - | - | - | - |
| Other liabilities and charges164/5 | - | - | - | - | €14,610 | - | - | - | - |
| Amounts payable17/49 | €114,030 | €185,308 | €95,568 | €63,007 | €12,349 | €2,045 | €5,282 | €3,630 | ▼ 31.3% |
| Amounts payable within one year42/48 | €114,030 | €93,897 | €69,602 | €63,007 | €12,349 | €2,045 | €5,282 | €2,480 | ▼ 53.0% |
| Trade debts44 | €730 | €32,425 | - | - | - | €1,450 | €2,013 | €67 | ▼ 96.7% |
| Suppliers440/4 | - | - | - | - | - | €1,450 | €2,013 | €67 | ▼ 96.7% |
| Taxes, remuneration and social security45 | - | - | - | €5,777 | €12,349 | €595 | - | - | - |
| Taxes450/3 | - | - | - | €5,777 | €12,349 | €595 | - | - | - |
| Other amounts payable47/48 | - | - | - | €57,230 | - | - | €3,269 | €2,413 | ▼ 26.2% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | - | €1,150 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €113,658 | -€774 | €13,245 | €7,816 | €7,078 | -€41,824 | €1,201 | -€8,129 | - |
| + Depreciation and write-downs630 | €4,408 | €4,408 | - | €6,536 | €6,536 | €13,834 | €18,105 | €18,341 | ▲ 1.3% |
| Operating cash flow (approximation) | €118,066 | €3,634 | €13,245 | €14,352 | €13,614 | -€27,990 | €19,306 | €10,212 | ▼ 47.1% |
| Investment in fixed assets (approximation) | - | - | - | - | €0 | -€336,000 | -€14,225 | €0 | - |
| Change in cash | - | €72,473 | €8,078 | €192 | €36,926 | -€389,046 | €13,298 | €12,131 | ▼ 8.8% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 12,322 companies had the same profile as Meeus has now. Two years later, 90.3% were still going and 0.7% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Meeus itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 12,322 companies, not a prediction for Meeus. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 19 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 06-08-2026 | 2026-00388141 | |
| 31-12-2024 | micro format | 18-09-2025 | 2025-00494920 | |
| 31-12-2023 | micro format | 08-08-2024 | 2024-00340128 | |
| 31-12-2022 | micro format | 18-08-2023 | 2023-00333673 | |
| 31-12-2021 | micro format | 23-08-2022 | 2022-20305508 | |
| 31-12-2020 | micro format | 30-08-2021 | 2021-55800238 | |
| 31-12-2019 | micro format | 26-08-2020 | 2020-44400178 | |
| 31-12-2018 | micro format | 05-08-2019 | 2019-43200204 | |
| 31-12-2017 | micro format | 19-07-2018 | 2018-34400210 | |
| 31-12-2016 | micro format | 03-07-2017 | 2017-24600320 |