M+ Meat: what changed
Two fiscal 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.
M+ Meat
Largest movements
- Stocks and contracts -€554,205
down €554,205 (-68.4%), from €810,250 to €256,045
- Tangible fixed assets -€138,110
down €138,110 (-11.3%), from €1.2m to €1.1m
of which Land and buildings: -€129,329
- Receivables within one year -€69,702
down €69,702 (-30.7%), from €227,399 to €157,696
of which Trade receivables: -€68,371
- Trade debts -€402,712
down €402,712 (-41.6%), from €968,833 to €566,121
- Profit (loss) carried forward -€242,947
down €242,947 (-14.2%), from -€1.7m to -€2.0m
- Current portion of long-term debt -€172,167
down €172,167 (-65.1%), from €264,628 to €92,461
- Short-term financial debts +€130,000
up €130,000 (+57.6%), from €225,787 to €355,787
- Debts after one year -€92,461
down €92,461 (-8.1%), from €1.1m to €1.0m
- Gross operating margin -€286,571
down €286,571 (-77.8%), from €368,270 to €81,699
- Staff costs -€43,481
down €43,481 (-38.9%), from €111,897 to €68,416
- Financial charges +€36,042
up €36,042 (+68.5%), from €52,604 to €88,646
- Depreciation -€13,939
down €13,939 (-8.4%), from €165,941 to €152,002
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 | €2,526,362 | €1,770,512 | -€755,850 | -29.9% |
| Fixed assets | 21/28 | €1,442,502 | €1,298,499 | -€144,002 | -10.0% |
| Intangible fixed assets | 21 | €224,586 | €218,695 | -€5,892 | -2.6% |
| Tangible fixed assets | 22/27 | €1,217,822 | €1,079,712 | -€138,110 | -11.3% |
| Land and buildings | 22 | €1,185,459 | €1,056,130 | -€129,329 | -10.9% |
| Plant, machinery and equipment | 23 | €32,363 | €23,582 | -€8,782 | -27.1% |
| Financial fixed assets | 28 | €93 | €93 | = | 0.0% |
| Current assets | 29/58 | €1,083,860 | €472,012 | -€611,848 | -56.5% |
| Stocks and contracts in progress | 3 | €810,250 | €256,045 | -€554,205 | -68.4% |
| Stocks | 30/36 | €810,250 | €256,045 | -€554,205 | -68.4% |
| Amounts receivable within one year | 40/41 | €227,399 | €157,696 | -€69,702 | -30.7% |
| Trade receivables | 40 | €224,563 | €156,193 | -€68,371 | -30.4% |
| Other amounts receivable | 41 | €2,835 | €1,503 | -€1,332 | -47.0% |
| Cash at bank and in hand | 54/58 | €43,108 | €58,271 | +€15,163 | +35.2% |
| Deferred charges and accrued income | 490/1 | €3,103 | €0 | -€3,103 | -100.0% |
| Total equity and liabilities | 10/49 | €2,526,362 | €1,770,512 | -€755,850 | -29.9% |
| Equity | 10/15 | -€82,750 | -€325,698 | -€242,947 | -293.6% |
| Contributions | 10/11 | €675,000 | €675,000 | = | 0.0% |
| Revaluation surpluses | 12 | €690,450 | €690,450 | = | 0.0% |
| Reserves | 13 | €261,047 | €261,047 | = | 0.0% |
| Distributable reserves | 133 | €261,047 | €261,047 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,709,247 | -€1,952,194 | -€242,947 | -14.2% |
| Amounts payable | 17/49 | €2,609,112 | €2,096,209 | -€512,903 | -19.7% |
| Amounts payable after more than one year | 17 | €1,138,622 | €1,046,160 | -€92,461 | -8.1% |
| Financial debts | 170/4 | €1,138,622 | €1,046,160 | -€92,461 | -8.1% |
| Amounts payable within one year | 42/48 | €1,470,491 | €1,044,825 | -€425,666 | -28.9% |
| Current portion of amounts payable after more than one year | 42 | €264,628 | €92,461 | -€172,167 | -65.1% |
| Financial debts | 43 | €225,787 | €355,787 | +€130,000 | +57.6% |
| Credit institutions | 430/8 | €225,787 | €355,787 | +€130,000 | +57.6% |
| Trade debts | 44 | €968,833 | €566,121 | -€402,712 | -41.6% |
| Suppliers | 440/4 | €968,833 | €566,121 | -€402,712 | -41.6% |
| Taxes, remuneration and social security | 45 | €10,043 | €20,051 | +€10,008 | +99.7% |
| Taxes | 450/3 | €719 | €20,051 | +€19,333 | +2690.7% |
| Remuneration and social security | 454/9 | €9,324 | €0 | -€9,324 | -100.0% |
| Other amounts payable | 47/48 | €1,200 | €10,404 | +€9,204 | +767.0% |
| Accrued charges and deferred income | 492/3 | - | €5,224 | +€5,224 | |
| Remuneration, social security and pensions | 62 | €111,897 | €68,416 | -€43,481 | -38.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €165,941 | €152,002 | -€13,939 | -8.4% |
| Other operating charges | 640/8 | €16,026 | €15,582 | -€444 | -2.8% |
| Gross operating margin | 9900 | €368,270 | €81,699 | -€286,571 | -77.8% |
| Operating profit (loss) | 9901 | €74,406 | -€154,302 | -€228,708 | |
| Financial income | 75/76B | €1,622 | €0 | -€1,622 | -100.0% |
| Recurring financial income | 75 | €1,622 | €0 | -€1,622 | -100.0% |
| Financial charges | 65/66B | €52,604 | €88,646 | +€36,042 | +68.5% |
| Recurring financial charges | 65 | €52,604 | €88,646 | +€36,042 | +68.5% |
| Profit (loss) for the period before taxes | 9903 | €23,425 | -€242,947 | -€266,372 | |
| Profit (loss) for the period | 9904 | €23,425 | -€242,947 | -€266,372 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,425 | -€242,947 | -€266,372 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.