HET MEERKE: 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.
HET MEERKE
Largest movements
- Tangible fixed assets -€171,528
down €171,528 (-5.6%), from €3.1m to €2.9m
of which Land and buildings: -€97,032
- Receivables within one year -€113,652
down €113,652 (-30.1%), from €377,113 to €263,461
of which Trade receivables: -€130,101
- Cash +€37,194
up €37,194 (+96.9%), from €38,365 to €75,558
mainly Depreciation (+€235,175) and Receivables within one year (+€113,652)
- Debts after one year -€198,031
down €198,031 (-11.5%), from €1.7m to €1.5m
- Gross operating margin -€184,288
down €184,288 (-35.9%), from €513,573 to €329,285
- Taxes -€36,945
down €36,945 (-91.2%), from €40,496 to €3,551
- Financial charges -€18,571
down €18,571 (-20.3%), from €91,313 to €72,742
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 | €3,490,625 | €3,264,652 | -€225,973 | -6.5% |
| Fixed assets | 21/28 | €3,052,231 | €2,880,703 | -€171,528 | -5.6% |
| Tangible fixed assets | 22/27 | €3,052,231 | €2,880,703 | -€171,528 | -5.6% |
| Land and buildings | 22 | €2,548,518 | €2,451,486 | -€97,032 | -3.8% |
| Plant, machinery and equipment | 23 | €467,657 | €414,692 | -€52,965 | -11.3% |
| Furniture and vehicles | 24 | €36,056 | €14,525 | -€21,531 | -59.7% |
| Current assets | 29/58 | €438,393 | €383,948 | -€54,445 | -12.4% |
| Amounts receivable within one year | 40/41 | €377,113 | €263,461 | -€113,652 | -30.1% |
| Trade receivables | 40 | €137,113 | €7,012 | -€130,101 | -94.9% |
| Other amounts receivable | 41 | €240,000 | €256,449 | +€16,449 | +6.9% |
| Cash at bank and in hand | 54/58 | €38,365 | €75,558 | +€37,194 | +96.9% |
| Deferred charges and accrued income | 490/1 | €22,916 | €44,929 | +€22,013 | +96.1% |
| Total equity and liabilities | 10/49 | €3,490,625 | €3,264,652 | -€225,973 | -6.5% |
| Equity | 10/15 | €1,049,413 | €1,060,066 | +€10,653 | +1.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €987,413 | €998,066 | +€10,653 | +1.1% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €981,213 | €991,866 | +€10,653 | +1.1% |
| Amounts payable | 17/49 | €2,441,211 | €2,204,586 | -€236,626 | -9.7% |
| Amounts payable after more than one year | 17 | €1,720,639 | €1,522,608 | -€198,031 | -11.5% |
| Financial debts | 170/4 | €1,720,639 | €1,522,608 | -€198,031 | -11.5% |
| Amounts payable within one year | 42/48 | €680,971 | €642,243 | -€38,727 | -5.7% |
| Current portion of amounts payable after more than one year | 42 | €484,456 | €471,646 | -€12,809 | -2.6% |
| Trade debts | 44 | €30,007 | €8,241 | -€21,766 | -72.5% |
| Suppliers | 440/4 | €30,007 | €8,241 | -€21,766 | -72.5% |
| Taxes, remuneration and social security | 45 | €102,835 | €79,153 | -€23,682 | -23.0% |
| Taxes | 450/3 | €99,835 | €76,153 | -€23,682 | -23.7% |
| Remuneration and social security | 454/9 | €3,000 | €3,000 | = | 0.0% |
| Other amounts payable | 47/48 | €63,673 | €83,203 | +€19,530 | +30.7% |
| Accrued charges and deferred income | 492/3 | €39,601 | €39,734 | +€133 | +0.3% |
| Non-recurring operating income | 76A | €187,124 | - | -€187,124 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €233,660 | €235,175 | +€1,515 | +0.6% |
| Other operating charges | 640/8 | €9,456 | €9,703 | +€247 | +2.6% |
| Gross operating margin | 9900 | €513,573 | €329,285 | -€184,288 | -35.9% |
| Operating profit (loss) | 9901 | €270,457 | €84,407 | -€186,050 | -68.8% |
| Financial income | 75/76B | €2,539 | €2,539 | = | 0.0% |
| Recurring financial income | 75 | €2,539 | €2,539 | = | 0.0% |
| Financial charges | 65/66B | €91,313 | €72,742 | -€18,571 | -20.3% |
| Recurring financial charges | 65 | €91,313 | €72,742 | -€18,571 | -20.3% |
| Profit (loss) for the period before taxes | 9903 | €181,683 | €14,204 | -€167,479 | -92.2% |
| Income taxes | 67/77 | €40,496 | €3,551 | -€36,945 | -91.2% |
| Profit (loss) for the period | 9904 | €141,187 | €10,653 | -€130,534 | -92.5% |
| Profit (loss) for the period to be appropriated | 9905 | €141,187 | €10,653 | -€130,534 | -92.5% |
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 21 October 2026 via checked.be.