MEAM Holding: what changed
MEAM Holding
Largest movements
- Receivables within one year +€112,962
up €112,962 (+94.9%), from €119,039 to €232,002
of which Other amounts receivable: +€90,670
- Cash -€44,187
down €44,187 (-82.2%), from €53,728 to €9,541
mainly Receivables within one year (-€112,962) and Contributions, distributions and other (-€10,000)
- Tangible fixed assets -€12,093
down €12,093 (-59.0%), from €20,486 to €8,392
of which Leasing and similar rights: -€13,872
- Reserves +€22,691
up €22,691 (+4.6%), from €492,782 to €515,473
- Other debts +€22,688
up €22,688 (+256%), from €8,854 to €31,542
- Current portion of long-term debt +€18,935
up €18,935 (+154%), from €12,300 to €31,235
- Trade debts -€9,043
down €9,043 (-73.9%), from €12,243 to €3,199
- Financial income +€12,330
up €12,330 (+1,630%), from €756 to €13,087
- Gross operating margin -€11,673
down €11,673 (-16.5%), from €70,919 to €59,245
- Taxes +€5,713
up €5,713 (+137%), from €4,161 to €9,873
- Financial charges +€982
up €982 (+8.2%), from €11,972 to €12,954
- Depreciation +€890
up €890 (+6.4%), from €13,872 to €14,762
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €751,227 | €807,645 | +€56,418 | +7.5% |
| Fixed assets | 21/28 | €576,195 | €564,101 | -€12,093 | -2.1% |
| Tangible fixed assets | 22/27 | €20,486 | €8,392 | -€12,093 | -59.0% |
| Furniture and vehicles | 24 | - | €1,779 | +€1,779 | |
| Leasing and similar rights | 25 | €20,486 | €6,613 | -€13,872 | -67.7% |
| Financial fixed assets | 28 | €555,709 | €555,709 | = | 0.0% |
| Current assets | 29/58 | €175,032 | €243,543 | +€68,511 | +39.1% |
| Amounts receivable within one year | 40/41 | €119,039 | €232,002 | +€112,962 | +94.9% |
| Trade receivables | 40 | €6,056 | €28,348 | +€22,293 | +368% |
| Other amounts receivable | 41 | €112,984 | €203,654 | +€90,670 | +80.3% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €53,728 | €9,541 | -€44,187 | -82.2% |
| Deferred charges and accrued income | 490/1 | €2,265 | €2,000 | -€264 | -11.7% |
| Total equity and liabilities | 10/49 | €751,227 | €807,645 | +€56,418 | +7.5% |
| Equity | 10/15 | €511,382 | €534,073 | +€22,691 | +4.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €492,782 | €515,473 | +€22,691 | +4.6% |
| Distributable reserves | 133 | €492,782 | €515,473 | +€22,691 | +4.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €239,845 | €273,572 | +€33,727 | +14.1% |
| Amounts payable after more than one year | 17 | €185,830 | €185,595 | -€235 | -0.1% |
| Financial debts | 170/4 | €185,830 | €185,595 | -€235 | -0.1% |
| Amounts payable within one year | 42/48 | €54,016 | €87,210 | +€33,194 | +61.5% |
| Current portion of amounts payable after more than one year | 42 | €12,300 | €31,235 | +€18,935 | +154% |
| Trade debts | 44 | €12,243 | €3,199 | -€9,043 | -73.9% |
| Suppliers | 440/4 | €12,243 | €3,199 | -€9,043 | -73.9% |
| Taxes, remuneration and social security | 45 | €20,619 | €21,234 | +€615 | +3.0% |
| Taxes | 450/3 | €20,619 | €21,234 | +€615 | +3.0% |
| Other amounts payable | 47/48 | €8,854 | €31,542 | +€22,688 | +256% |
| Accrued charges and deferred income | 492/3 | €0 | €767 | +€767 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,872 | €14,762 | +€890 | +6.4% |
| Other operating charges | 640/8 | €2,429 | €2,052 | -€377 | -15.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €70,919 | €59,245 | -€11,673 | -16.5% |
| Operating profit (loss) | 9901 | €54,617 | €42,431 | -€12,186 | -22.3% |
| Financial income | 75/76B | €756 | €13,087 | +€12,330 | +1,630% |
| Recurring financial income | 75 | €756 | €13,087 | +€12,330 | +1,630% |
| Financial charges | 65/66B | €11,972 | €12,954 | +€982 | +8.2% |
| Recurring financial charges | 65 | €11,972 | €12,954 | +€982 | +8.2% |
| Profit (loss) for the period before taxes | 9903 | €43,402 | €42,564 | -€837 | -1.9% |
| Income taxes | 67/77 | €4,161 | €9,873 | +€5,713 | +137% |
| Profit (loss) for the period | 9904 | €39,241 | €32,691 | -€6,550 | -16.7% |
| Profit (loss) for the period to be appropriated | 9905 | €39,241 | €32,691 | -€6,550 | -16.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.