F. Meeus: 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.
F. Meeus
Largest movements
- Tangible fixed assets -€68,968
down €68,968 (-21.5%), from €321,247 to €252,279
of which Furniture and vehicles: -€69,930
- Cash +€63,650
up €63,650 (+163.6%), from €38,911 to €102,560
mainly Other debts (+€215,560) and Depreciation (+€73,003)
- Receivables within one year -€6,875
down €6,875 (-25.8%), from €26,645 to €19,770
of which Other amounts receivable: -€5,043
- Other debts +€215,560
up €215,560 (+224.3%), from €96,091 to €311,651
- Reserves -€141,012
down €141,012 (-100.0%), from €141,012 to €0
- Contributions -€100,000
down €100,000 (-100.0%), from €100,000 to €0
- Tax, wage and social debts +€35,138
up €35,138 (+1655.9%), from €2,122 to €37,260
- Debts after one year -€23,891
down €23,891 (-100.0%), from €23,891 to €0
- Gross operating margin -€7,829
down €7,829 (-9.1%), from €85,768 to €77,939
- Depreciation +€4,576
up €4,576 (+6.7%), from €68,427 to €73,003
- Taxes -€1,299
down €1,299 (-31.5%), from €4,122 to €2,823
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.
Cash bridge derived
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 | €386,802 | €374,609 | -€12,193 | -3.2% |
| Fixed assets | 21/28 | €321,247 | €252,279 | -€68,968 | -21.5% |
| Tangible fixed assets | 22/27 | €321,247 | €252,279 | -€68,968 | -21.5% |
| Plant, machinery and equipment | 23 | €15,593 | €16,555 | +€962 | +6.2% |
| Furniture and vehicles | 24 | €305,654 | €235,724 | -€69,930 | -22.9% |
| Current assets | 29/58 | €65,555 | €122,330 | +€56,775 | +86.6% |
| Amounts receivable within one year | 40/41 | €26,645 | €19,770 | -€6,875 | -25.8% |
| Trade receivables | 40 | €21,602 | €19,770 | -€1,832 | -8.5% |
| Other amounts receivable | 41 | €5,043 | €0 | -€5,043 | -100.0% |
| Cash at bank and in hand | 54/58 | €38,911 | €102,560 | +€63,650 | +163.6% |
| Total equity and liabilities | 10/49 | €386,802 | €374,609 | -€12,193 | -3.2% |
| Equity | 10/15 | €241,012 | €0 | -€241,012 | -100.0% |
| Contributions | 10/11 | €100,000 | €0 | -€100,000 | -100.0% |
| Reserves | 13 | €141,012 | €0 | -€141,012 | -100.0% |
| Distributable reserves | 133 | €141,012 | €0 | -€141,012 | -100.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €145,790 | €374,609 | +€228,819 | +157.0% |
| Amounts payable after more than one year | 17 | €23,891 | €0 | -€23,891 | -100.0% |
| Financial debts | 170/4 | €23,891 | €0 | -€23,891 | -100.0% |
| Amounts payable within one year | 42/48 | €121,899 | €374,609 | +€252,710 | +207.3% |
| Current portion of amounts payable after more than one year | 42 | €23,643 | €23,891 | +€248 | +1.0% |
| Trade debts | 44 | €42 | €1,806 | +€1,764 | +4212.6% |
| Suppliers | 440/4 | €42 | €1,806 | +€1,764 | +4212.6% |
| Taxes, remuneration and social security | 45 | €2,122 | €37,260 | +€35,138 | +1655.9% |
| Taxes | 450/3 | €2,122 | €37,260 | +€35,138 | +1655.9% |
| Other amounts payable | 47/48 | €96,091 | €311,651 | +€215,560 | +224.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,427 | €73,003 | +€4,576 | +6.7% |
| Other operating charges | 640/8 | €1,135 | €894 | -€241 | -21.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €85,768 | €77,939 | -€7,829 | -9.1% |
| Operating profit (loss) | 9901 | €16,205 | €4,042 | -€12,163 | -75.1% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €682 | €514 | -€169 | -24.7% |
| Recurring financial charges | 65 | €682 | €514 | -€169 | -24.7% |
| Profit (loss) for the period before taxes | 9903 | €15,523 | €3,529 | -€11,994 | -77.3% |
| Income taxes | 67/77 | €4,122 | €2,823 | -€1,299 | -31.5% |
| Profit (loss) for the period | 9904 | €11,401 | €706 | -€10,695 | -93.8% |
| Profit (loss) for the period to be appropriated | 9905 | €11,401 | €706 | -€10,695 | -93.8% |
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 11 October 2026 via checked.be.