CARLO MEERT: 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.
CARLO MEERT
Largest movements
- Cash -€139,660
down €139,660 (-42.4%), from €329,010 to €189,350
mainly Contributions, distributions and other (-€180,000) and Receivables within one year (-€116,227)
- Receivables within one year +€116,227
up €116,227 (+22.2%), from €523,304 to €639,531
of which Other amounts receivable: +€114,427
- Reserves -€160,000
down €160,000 (-25.3%), from €632,895 to €472,895
- Other debts +€132,533
up €132,533 (+10.0%), from €1.3m to €1.5m
- Financial income +€14,459
up €14,459 (+91.8%), from €15,748 to €30,207
- Taxes +€8,916
up €8,916 (+104%), from €8,558 to €17,474
- Financial charges +€6,874
up €6,874 (+50.3%), from €13,680 to €20,554
- Gross operating margin +€5,705
up €5,705 (+21.5%), from €26,502 to €32,207
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 | €2,607,084 | €2,599,256 | -€7,828 | -0.3% |
| Fixed assets | 21/28 | €1,739,591 | €1,738,673 | -€919 | -0.1% |
| Tangible fixed assets | 22/27 | €144,475 | €143,557 | -€919 | -0.6% |
| Land and buildings | 22 | €138,964 | €138,964 | = | 0.0% |
| Plant, machinery and equipment | 23 | €5,511 | €4,593 | -€919 | -16.7% |
| Furniture and vehicles | 24 | - | €0 | = | |
| Financial fixed assets | 28 | €1,595,116 | €1,595,116 | = | 0.0% |
| Current assets | 29/58 | €867,492 | €860,583 | -€6,909 | -0.8% |
| Amounts receivable within one year | 40/41 | €523,304 | €639,531 | +€116,227 | +22.2% |
| Trade receivables | 40 | €18,150 | €19,950 | +€1,800 | +9.9% |
| Other amounts receivable | 41 | €505,154 | €619,581 | +€114,427 | +22.7% |
| Cash at bank and in hand | 54/58 | €329,010 | €189,350 | -€139,660 | -42.4% |
| Deferred charges and accrued income | 490/1 | €15,178 | €31,702 | +€16,524 | +109% |
| Total equity and liabilities | 10/49 | €2,607,084 | €2,599,256 | -€7,828 | -0.3% |
| Equity | 10/15 | €1,249,137 | €1,090,151 | -€158,986 | -12.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €632,895 | €472,895 | -€160,000 | -25.3% |
| Distributable reserves | 133 | €632,895 | €472,895 | -€160,000 | -25.3% |
| Profit (loss) carried forward | 14 | €603,842 | €604,856 | +€1,014 | +0.2% |
| Amounts payable | 17/49 | €1,357,947 | €1,509,105 | +€151,158 | +11.1% |
| Amounts payable within one year | 42/48 | €1,344,397 | €1,488,693 | +€144,296 | +10.7% |
| Trade debts | 44 | €5,992 | €7,114 | +€1,122 | +18.7% |
| Suppliers | 440/4 | €5,992 | €7,114 | +€1,122 | +18.7% |
| Taxes, remuneration and social security | 45 | €13,200 | €23,841 | +€10,641 | +80.6% |
| Taxes | 450/3 | €13,200 | €23,841 | +€10,641 | +80.6% |
| Other amounts payable | 47/48 | €1,325,205 | €1,457,738 | +€132,533 | +10.0% |
| Accrued charges and deferred income | 492/3 | €13,549 | €20,412 | +€6,863 | +50.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €919 | €919 | = | 0.0% |
| Other operating charges | 640/8 | €2,681 | €2,452 | -€229 | -8.5% |
| Gross operating margin | 9900 | €26,502 | €32,207 | +€5,705 | +21.5% |
| Operating profit (loss) | 9901 | €22,903 | €28,836 | +€5,933 | +25.9% |
| Financial income | 75/76B | €15,748 | €30,207 | +€14,459 | +91.8% |
| Recurring financial income | 75 | €15,748 | €30,207 | +€14,459 | +91.8% |
| Financial charges | 65/66B | €13,680 | €20,554 | +€6,874 | +50.3% |
| Recurring financial charges | 65 | €13,680 | €20,554 | +€6,874 | +50.3% |
| Profit (loss) for the period before taxes | 9903 | €24,971 | €38,489 | +€13,518 | +54.1% |
| Income taxes | 67/77 | €8,558 | €17,474 | +€8,916 | +104% |
| Profit (loss) for the period | 9904 | €16,412 | €21,014 | +€4,602 | +28.0% |
| Profit (loss) for the period to be appropriated | 9905 | €16,412 | €21,014 | +€4,602 | +28.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.