Meander: 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.
Meander
Largest movements
- Tangible fixed assets -€26,082
down €26,082 (-19.1%), from €136,277 to €110,195
- Cash +€6,621
up €6,621 (+5.2%), from €128,342 to €134,963
mainly Depreciation (+€26,082) and Other debts (+€13,816)
- Receivables within one year +€3,965
up €3,965 (+156%), from €2,545 to €6,510
- Reserves -€15,150
down €15,150 (-22.6%), from €67,170 to €52,020
- Other debts +€13,816
up €13,816 (+26.8%), from €51,605 to €65,421
- Trade debts -€13,699
down €13,699 (-85.0%), from €16,109 to €2,410
- Gross operating margin -€9,351
down €9,351 (-18.3%), from €51,089 to €41,738
- Taxes -€1,800
down €1,800 (-34.0%), from €5,300 to €3,500
- Financial charges -€1,006
down €1,006 (-14.5%), from €6,959 to €5,953
- Depreciation +€729
up €729 (+2.9%), from €25,353 to €26,082
- Staff costs -€561
down €561 (-81.6%), from €687 to €126
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 | €272,361 | €255,658 | -€16,703 | -6.1% |
| Fixed assets | 21/28 | €136,277 | €110,195 | -€26,082 | -19.1% |
| Tangible fixed assets | 22/27 | €136,277 | €110,195 | -€26,082 | -19.1% |
| Plant, machinery and equipment | 23 | €17,959 | €10,236 | -€7,723 | -43.0% |
| Furniture and vehicles | 24 | €6,367 | €802 | -€5,565 | -87.4% |
| Other tangible fixed assets | 26 | €111,950 | €99,157 | -€12,793 | -11.4% |
| Current assets | 29/58 | €136,085 | €145,463 | +€9,379 | +6.9% |
| Stocks and contracts in progress | 3 | €1,692 | €1,976 | +€284 | +16.8% |
| Stocks | 30/36 | €1,692 | €1,976 | +€284 | +16.8% |
| Amounts receivable within one year | 40/41 | €2,545 | €6,510 | +€3,965 | +156% |
| Other amounts receivable | 41 | €2,545 | €6,510 | +€3,965 | +156% |
| Cash at bank and in hand | 54/58 | €128,342 | €134,963 | +€6,621 | +5.2% |
| Deferred charges and accrued income | 490/1 | €3,506 | €2,015 | -€1,492 | -42.5% |
| Total equity and liabilities | 10/49 | €272,361 | €255,658 | -€16,703 | -6.1% |
| Equity | 10/15 | €199,036 | €183,892 | -€15,144 | -7.6% |
| Contributions | 10/11 | €130,000 | €130,000 | = | 0.0% |
| Reserves | 13 | €67,170 | €52,020 | -€15,150 | -22.6% |
| Distributable reserves | 133 | €67,170 | €52,020 | -€15,150 | -22.6% |
| Profit (loss) carried forward | 14 | €1,866 | €1,872 | +€6 | +0.3% |
| Amounts payable | 17/49 | €73,325 | €71,767 | -€1,559 | -2.1% |
| Amounts payable within one year | 42/48 | €70,227 | €69,368 | -€858 | -1.2% |
| Trade debts | 44 | €16,109 | €2,410 | -€13,699 | -85.0% |
| Suppliers | 440/4 | €16,109 | €2,410 | -€13,699 | -85.0% |
| Taxes, remuneration and social security | 45 | €2,513 | €1,538 | -€975 | -38.8% |
| Taxes | 450/3 | €2,513 | €1,538 | -€975 | -38.8% |
| Other amounts payable | 47/48 | €51,605 | €65,421 | +€13,816 | +26.8% |
| Accrued charges and deferred income | 492/3 | €3,098 | €2,398 | -€700 | -22.6% |
| Remuneration, social security and pensions | 62 | €687 | €126 | -€561 | -81.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,353 | €26,082 | +€729 | +2.9% |
| Other operating charges | 640/8 | €942 | €971 | +€29 | +3.1% |
| Gross operating margin | 9900 | €51,089 | €41,738 | -€9,351 | -18.3% |
| Operating profit (loss) | 9901 | €24,107 | €14,559 | -€9,548 | -39.6% |
| Financial income | 75/76B | €5 | €1 | -€5 | -89.7% |
| Recurring financial income | 75 | €5 | €1 | -€5 | -89.7% |
| Financial charges | 65/66B | €6,959 | €5,953 | -€1,006 | -14.5% |
| Recurring financial charges | 65 | €6,959 | €5,953 | -€1,006 | -14.5% |
| Profit (loss) for the period before taxes | 9903 | €17,153 | €8,606 | -€8,547 | -49.8% |
| Income taxes | 67/77 | €5,300 | €3,500 | -€1,800 | -34.0% |
| Profit (loss) for the period | 9904 | €11,853 | €5,106 | -€6,747 | -56.9% |
| Profit (loss) for the period to be appropriated | 9905 | €11,853 | €5,106 | -€6,747 | -56.9% |
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 29 October 2026 via checked.be.