MC MEULEWAETER: 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.
MC MEULEWAETER
Largest movements
- Cash +€240,593
up €240,593 (+509.7%), from €47,199 to €287,792
mainly Net result for the year (+€370,120) and Other debts (+€88,172)
- Financial fixed assets -€62,338
down €62,338 (-96.6%), from €64,538 to €2,200
- Receivables within one year -€35,893
down €35,893 (-31.6%), from €113,742 to €77,849
of which Other amounts receivable: -€39,375
- Tangible fixed assets +€6,907
up €6,907 (+29.3%), from €23,533 to €30,439
of which Furniture and vehicles: +€9,644
- Other debts +€88,172
up €88,172 (+78.8%), from €111,828 to €200,000
- Reserves +€73,418
up €73,418 (+66.4%), from €110,507 to €183,925
- Tax, wage and social debts -€8,345
down €8,345 (-40.1%), from €20,817 to €12,472
- Trade debts -€5,339
down €5,339 (-85.8%), from €6,222 to €883
- Financial income +€225,180
up €225,180 (+1125.8%), from €20,001 to €245,181
of which Non-recurring financial income: +€240,995
- Gross operating margin +€38,803
up €38,803 (+29.6%), from €131,189 to €169,992
- Taxes +€5,136
up €5,136 (+15.6%), from €32,949 to €38,085
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 | €251,194 | €398,280 | +€147,086 | +58.6% |
| Fixed assets | 21/28 | €88,071 | €32,639 | -€55,432 | -62.9% |
| Tangible fixed assets | 22/27 | €23,533 | €30,439 | +€6,907 | +29.3% |
| Furniture and vehicles | 24 | €1,836 | €11,479 | +€9,644 | +525.4% |
| Other tangible fixed assets | 26 | €21,697 | €18,960 | -€2,737 | -12.6% |
| Financial fixed assets | 28 | €64,538 | €2,200 | -€62,338 | -96.6% |
| Current assets | 29/58 | €163,123 | €365,641 | +€202,518 | +124.2% |
| Amounts receivable within one year | 40/41 | €113,742 | €77,849 | -€35,893 | -31.6% |
| Trade receivables | 40 | €13,613 | €17,095 | +€3,482 | +25.6% |
| Other amounts receivable | 41 | €100,129 | €60,754 | -€39,375 | -39.3% |
| Cash at bank and in hand | 54/58 | €47,199 | €287,792 | +€240,593 | +509.7% |
| Deferred charges and accrued income | 490/1 | €2,182 | - | -€2,182 | |
| Total equity and liabilities | 10/49 | €251,194 | €398,280 | +€147,086 | +58.6% |
| Equity | 10/15 | €111,507 | €184,925 | +€73,418 | +65.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Contributions outside capital | 11 | €1,000 | €1,000 | = | 0.0% |
| Other | 1109/19 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €110,507 | €183,925 | +€73,418 | +66.4% |
| Distributable reserves | 133 | €110,507 | €183,925 | +€73,418 | +66.4% |
| Amounts payable | 17/49 | €139,687 | €213,355 | +€73,668 | +52.7% |
| Amounts payable within one year | 42/48 | €138,867 | €213,355 | +€74,488 | +53.6% |
| Trade debts | 44 | €6,222 | €883 | -€5,339 | -85.8% |
| Suppliers | 440/4 | €6,222 | €883 | -€5,339 | -85.8% |
| Taxes, remuneration and social security | 45 | €20,817 | €12,472 | -€8,345 | -40.1% |
| Taxes | 450/3 | €20,817 | €12,472 | -€8,345 | -40.1% |
| Other amounts payable | 47/48 | €111,828 | €200,000 | +€88,172 | +78.8% |
| Accrued charges and deferred income | 492/3 | €820 | - | -€820 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,532 | €6,141 | +€609 | +11.0% |
| Other operating charges | 640/8 | €618 | €544 | -€74 | -12.0% |
| Gross operating margin | 9900 | €131,189 | €169,992 | +€38,803 | +29.6% |
| Operating profit (loss) | 9901 | €125,039 | €163,307 | +€38,268 | +30.6% |
| Financial income | 75/76B | €20,001 | €245,181 | +€225,180 | +1125.8% |
| Recurring financial income | 75 | €20,001 | €4,186 | -€15,815 | -79.1% |
| Non-recurring financial income | 76B | - | €240,995 | +€240,995 | |
| Financial charges | 65/66B | €342 | €284 | -€58 | -17.0% |
| Recurring financial charges | 65 | €342 | €284 | -€58 | -17.0% |
| Profit (loss) for the period before taxes | 9903 | €144,699 | €408,205 | +€263,506 | +182.1% |
| Income taxes | 67/77 | €32,949 | €38,085 | +€5,136 | +15.6% |
| Profit (loss) for the period | 9904 | €111,749 | €370,120 | +€258,370 | +231.2% |
| Profit (loss) for the period to be appropriated | 9905 | €111,749 | €370,120 | +€258,370 | +231.2% |
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 9 October 2026 via checked.be.