8 MEREN: what changed
What changed
8 MEREN
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€770
2024 · €911,827-€911,057
Equity
€11.1m
2024 · €11.1m+€770
Cash
€6.0m
2024 · €6.3m-€275,649
Balance sheet total
€15.2m
2024 · €15.3m-€120,693
Largest movements
Assets
- Financial fixed assets -€1.5m
down €1.5m (-52.7%), from €2.8m to €1.3m
of which Affiliated companies: -€1.5m
- Receivables after one year +€1.2m
up €1.2m (+127%), from €904,395 to €2.1m
- Receivables within one year +€380,640
up €380,640 (+36.7%), from €1.0m to €1.4m
of which Other amounts receivable: +€363,341
- Cash -€275,649
down €275,649 (-4.4%), from €6.3m to €6.0m
mainly Receivables after one year (-€1.2m) and Receivables within one year (-€380,640)
- Current investments +€234,839
new in 2025: €234,839
Equity and liabilities
- Debts after one year -€174,624
down €174,624 (-8.8%), from €2.0m to €1.8m
Income statement
- Financial charges +€1.5m
up €1.5m (+1,945%), from €75,523 to €1.5m
of which Non-recurring financial charges: +€1.5m
- Financial income +€1.0m
up €1.0m (+89.9%), from €1.2m to €2.2m
- Taxes -€57,708
down €57,708 (-95.1%), from €60,676 to €2,968
of which Taxes: -€58,089
- Services and other goods +€49,243
up €49,243 (+8.6%), from €570,086 to €619,329
- Depreciation -€34,551
down €34,551 (-19.9%), from €173,267 to €138,716
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€911,827
Turnover
+€24,948
Other operating income
-€30,545
Services and other goods
-€49,243
Staff costs
+€33,040
Depreciation
+€34,551
Other operating charges
-€12,642
Other operating items
-€549,408
Financial income
+€1.0m
Financial charges
-€1.5m
Taxes
+€57,708
Result 2025
€770
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€1.3m
Investment
+€1.2m
Financing
-€173,159
Cash 2024
€6.3m
From operations (derived)
-€1.3m
Net result for the year
+€770
Depreciation
+€138,716
Receivables after one year
-€1.2m
Receivables within one year
-€380,640
Deferred charges and accrued income
+€2,531
Trade debts
-€11,167
Tax, wage and social debts
+€9,700
Other debts
+€45,448
Accrued charges and deferred income
+€7,714
Investment (derived)
+€1.2m
Investment in fixed assets (net)
+€1.5m
Current investments
-€234,839
Financing
-€173,159
Debts after one year
-€174,624
Current portion of long-term debt
+€1,465
Cash 2025
€6.0m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,293,365 | €15,172,672 | -€120,693 | -0.8% |
| Fixed assets | 21/28 | €7,038,039 | €5,428,989 | -€1.6m | -22.9% |
| Tangible fixed assets | 22/27 | €4,249,078 | €4,110,361 | -€138,716 | -3.3% |
| Land and buildings | 22 | €4,040,069 | €3,936,253 | -€103,816 | -2.6% |
| Plant, machinery and equipment | 23 | €5,223 | €1,940 | -€3,283 | -62.9% |
| Furniture and vehicles | 24 | €203,786 | €172,168 | -€31,617 | -15.5% |
| Financial fixed assets | 28 | €2,788,961 | €1,318,627 | -€1.5m | -52.7% |
| Affiliated companies | 280/1 | €2,788,919 | €1,318,585 | -€1.5m | -52.7% |
| Participating interests | 280 | €2,788,919 | €1,318,585 | -€1.5m | -52.7% |
| Other financial fixed assets | 284/8 | €43 | €43 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €43 | €43 | = | 0.0% |
| Current assets | 29/58 | €8,255,326 | €9,743,684 | +€1.5m | +18.0% |
| Amounts receivable after more than one year | 29 | €904,395 | €2,055,453 | +€1.2m | +127% |
| Other amounts receivable | 291 | €904,395 | €2,055,453 | +€1.2m | +127% |
| Amounts receivable within one year | 40/41 | €1,036,284 | €1,416,925 | +€380,640 | +36.7% |
| Trade receivables | 40 | €382,643 | €399,942 | +€17,299 | +4.5% |
| Other amounts receivable | 41 | €653,641 | €1,016,983 | +€363,341 | +55.6% |
| Current investments | 50/53 | - | €234,839 | +€234,839 | |
| Other investments | 51/53 | - | €234,839 | +€234,839 | |
| Cash at bank and in hand | 54/58 | €6,312,116 | €6,036,467 | -€275,649 | -4.4% |
| Deferred charges and accrued income | 490/1 | €2,531 | - | -€2,531 | |
| Total equity and liabilities | 10/49 | €15,293,365 | €15,172,672 | -€120,693 | -0.8% |
| Equity | 10/15 | €11,126,597 | €11,127,367 | +€770 | 0.0% |
| Contributions | 10/11 | €63,500 | €61,500 | -€2,000 | -3.1% |
| Capital | 10 | €63,500 | €61,500 | -€2,000 | -3.1% |
| Issued capital | 100 | €63,500 | €61,500 | -€2,000 | -3.1% |
| Reserves | 13 | €6,350 | €8,350 | +€2,000 | +31.5% |
| Non-distributable reserves | 130/1 | €6,350 | €6,150 | -€200 | -3.1% |
| Legal reserve | 130 | €6,350 | €6,150 | -€200 | -3.1% |
| Distributable reserves | 133 | - | €2,200 | +€2,200 | |
| Profit (loss) carried forward | 14 | €11,056,747 | €11,057,517 | +€770 | 0.0% |
| Amounts payable | 17/49 | €4,166,768 | €4,045,305 | -€121,463 | -2.9% |
| Amounts payable after more than one year | 17 | €1,978,232 | €1,803,608 | -€174,624 | -8.8% |
| Financial debts | 170/4 | €1,978,232 | €1,803,608 | -€174,624 | -8.8% |
| Credit institutions | 173 | €1,978,232 | €1,803,608 | -€174,624 | -8.8% |
| Amounts payable within one year | 42/48 | €2,174,663 | €2,220,110 | +€45,447 | +2.1% |
| Current portion of amounts payable after more than one year | 42 | €173,159 | €174,624 | +€1,465 | +0.8% |
| Trade debts | 44 | €76,957 | €65,790 | -€11,167 | -14.5% |
| Suppliers | 440/4 | €76,957 | €65,790 | -€11,167 | -14.5% |
| Taxes, remuneration and social security | 45 | €96,547 | €106,247 | +€9,700 | +10.0% |
| Taxes | 450/3 | €22,764 | €24,081 | +€1,317 | +5.8% |
| Remuneration and social security | 454/9 | €73,782 | €82,166 | +€8,383 | +11.4% |
| Other amounts payable | 47/48 | €1,828,000 | €1,873,448 | +€45,448 | +2.5% |
| Accrued charges and deferred income | 492/3 | €13,873 | €21,587 | +€7,714 | +55.6% |
| Operating income | 70/76A | €1,492,523 | €1,506,180 | +€13,657 | +0.9% |
| Turnover | 70 | €1,451,468 | €1,476,416 | +€24,948 | +1.7% |
| Other operating income | 74 | €41,055 | €10,509 | -€30,545 | -74.4% |
| Non-recurring operating income | 76A | - | €19,255 | +€19,255 | |
| Operating charges | 60/66A | €1,611,890 | €2,174,846 | +€562,956 | +34.9% |
| Services and other goods | 61 | €570,086 | €619,329 | +€49,243 | +8.6% |
| Remuneration, social security and pensions | 62 | €764,247 | €731,207 | -€33,040 | -4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €173,267 | €138,716 | -€34,551 | -19.9% |
| Other operating charges | 640/8 | €28,074 | €40,716 | +€12,642 | +45.0% |
| Non-recurring operating charges | 66A | €76,216 | €644,879 | +€568,662 | +746% |
| Operating profit (loss) | 9901 | -€119,367 | -€668,666 | -€549,299 | -460% |
| Financial income | 75/76B | €1,167,394 | €2,216,529 | +€1.0m | +89.9% |
| Recurring financial income | 75 | €1,167,394 | €2,216,529 | +€1.0m | +89.9% |
| Income from financial fixed assets | 750 | €1,000,000 | €2,000,000 | +€1.0m | +100% |
| Income from current assets | 751 | €148,745 | €109,109 | -€39,636 | -26.6% |
| Other financial income | 752/9 | €18,649 | €107,420 | +€88,771 | +476% |
| Financial charges | 65/66B | €75,523 | €1,544,124 | +€1.5m | +1,945% |
| Recurring financial charges | 65 | €75,523 | €73,790 | -€1,733 | -2.3% |
| Debt charges | 650 | €74,178 | €71,432 | -€2,746 | -3.7% |
| Other financial charges | 652/9 | €1,345 | €2,358 | +€1,013 | +75.3% |
| Non-recurring financial charges | 66B | - | €1,470,334 | +€1.5m | |
| Profit (loss) for the period before taxes | 9903 | €972,503 | €3,738 | -€968,765 | -99.6% |
| Income taxes | 67/77 | €60,676 | €2,968 | -€57,708 | -95.1% |
| Taxes | 670/3 | €61,057 | €2,968 | -€58,089 | -95.1% |
| Tax adjustments and reversals of tax provisions | 77 | €381 | - | -€381 | |
| Profit (loss) for the period | 9904 | €911,827 | €770 | -€911,057 | -99.9% |
| Profit (loss) for the period to be appropriated | 9905 | €911,827 | €770 | -€911,057 | -99.9% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.