ESV MEUWIS: 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.
ESV MEUWIS
Largest movements
- Receivables within one year -€101,594
down €101,594 (-41.6%), from €244,149 to €142,555
of which Trade receivables: -€65,196
- Current investments -€98,302
down €98,302 (-53.3%), from €184,427 to €86,125
- Tangible fixed assets -€54,043
down €54,043 (-5.3%), from €1.0m to €972,987
of which Land and buildings: -€47,942
- Cash +€24,646
up €24,646 (+24.0%), from €102,653 to €127,298
mainly Receivables within one year (+€101,594) and Current investments (+€98,302)
- Reserves -€200,136
down €200,136 (-52.4%), from €381,876 to €181,740
of which Distributable reserves: -€200,136
- Debts after one year -€57,835
down €57,835 (-8.3%), from €699,520 to €641,686
- Other debts +€47,060
up €47,060 (+13.0%), from €363,365 to €410,425
- Tax, wage and social debts -€28,174
down €28,174 (-47.4%), from €59,380 to €31,206
of which Taxes: -€28,936
- Gross operating margin -€30,234
down €30,234 (-17.1%), from €177,180 to €146,946
- Taxes -€10,802
down €10,802 (-35.9%), from €30,120 to €19,318
- Financial income -€8,054
down €8,054 (-49.9%), from €16,128 to €8,074
- Financial charges +€3,149
up €3,149 (+17.2%), from €18,358 to €21,508
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 | €1,578,193 | €1,338,643 | -€239,550 | -15.2% |
| Fixed assets | 21/28 | €1,027,031 | €972,987 | -€54,043 | -5.3% |
| Tangible fixed assets | 22/27 | €1,027,031 | €972,987 | -€54,043 | -5.3% |
| Land and buildings | 22 | €980,925 | €932,983 | -€47,942 | -4.9% |
| Other tangible fixed assets | 26 | €46,106 | €40,004 | -€6,102 | -13.2% |
| Current assets | 29/58 | €551,162 | €365,656 | -€185,506 | -33.7% |
| Amounts receivable within one year | 40/41 | €244,149 | €142,555 | -€101,594 | -41.6% |
| Trade receivables | 40 | €202,751 | €137,555 | -€65,196 | -32.2% |
| Other amounts receivable | 41 | €41,398 | €5,000 | -€36,398 | -87.9% |
| Current investments | 50/53 | €184,427 | €86,125 | -€98,302 | -53.3% |
| Cash at bank and in hand | 54/58 | €102,653 | €127,298 | +€24,646 | +24.0% |
| Deferred charges and accrued income | 490/1 | €19,933 | €9,677 | -€10,256 | -51.5% |
| Total equity and liabilities | 10/49 | €1,578,193 | €1,338,643 | -€239,550 | -15.2% |
| Equity | 10/15 | €388,076 | €187,940 | -€200,136 | -51.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €381,876 | €181,740 | -€200,136 | -52.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €381,876 | €181,740 | -€200,136 | -52.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,190,117 | €1,150,703 | -€39,414 | -3.3% |
| Amounts payable after more than one year | 17 | €699,520 | €641,686 | -€57,835 | -8.3% |
| Financial debts | 170/4 | €699,520 | €641,686 | -€57,835 | -8.3% |
| Amounts payable within one year | 42/48 | €487,917 | €506,412 | +€18,495 | +3.8% |
| Current portion of amounts payable after more than one year | 42 | €61,646 | €62,614 | +€967 | +1.6% |
| Trade debts | 44 | €3,526 | €2,167 | -€1,359 | -38.5% |
| Suppliers | 440/4 | €3,526 | €2,167 | -€1,359 | -38.5% |
| Taxes, remuneration and social security | 45 | €59,380 | €31,206 | -€28,174 | -47.4% |
| Taxes | 450/3 | €57,598 | €28,662 | -€28,936 | -50.2% |
| Remuneration and social security | 454/9 | €1,782 | €2,544 | +€762 | +42.8% |
| Other amounts payable | 47/48 | €363,365 | €410,425 | +€47,060 | +13.0% |
| Accrued charges and deferred income | 492/3 | €2,680 | €2,606 | -€74 | -2.8% |
| Non-recurring operating income | 76A | €207 | €0 | -€207 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,043 | €54,043 | = | 0.0% |
| Other operating charges | 640/8 | €7,277 | €7,774 | +€497 | +6.8% |
| Gross operating margin | 9900 | €177,180 | €146,946 | -€30,234 | -17.1% |
| Operating profit (loss) | 9901 | €115,860 | €85,128 | -€30,732 | -26.5% |
| Financial income | 75/76B | €16,128 | €8,074 | -€8,054 | -49.9% |
| Recurring financial income | 75 | €16,128 | €8,074 | -€8,054 | -49.9% |
| Financial charges | 65/66B | €18,358 | €21,508 | +€3,149 | +17.2% |
| Recurring financial charges | 65 | €18,358 | €21,508 | +€3,149 | +17.2% |
| Profit (loss) for the period before taxes | 9903 | €113,630 | €71,695 | -€41,935 | -36.9% |
| Income taxes | 67/77 | €30,120 | €19,318 | -€10,802 | -35.9% |
| Profit (loss) for the period | 9904 | €83,510 | €52,377 | -€31,133 | -37.3% |
| Profit (loss) for the period to be appropriated | 9905 | €83,510 | €52,377 | -€31,133 | -37.3% |
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 31 October 2026 via checked.be.