MEAS: 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.
MEAS
Largest movements
- Intangible fixed assets -€33,616
down €33,616 (-25.0%), from €134,464 to €100,848
- Cash -€28,523
down €28,523 (-56.7%), from €50,282 to €21,759
mainly Current portion of long-term debt (-€47,588) and Debts after one year (-€27,368)
- Tangible fixed assets -€24,694
down €24,694 (-18.8%), from €131,069 to €106,375
of which Furniture and vehicles: -€21,297
- Current portion of long-term debt -€47,588
down €47,588 (-63.5%), from €74,956 to €27,368
- Debts after one year -€27,368
down €27,368 (-76.1%), from €35,959 to €8,591
- Profit (loss) carried forward -€7,873
new in 2025: -€7,873
- Gross operating margin -€86,689
down €86,689 (-53.2%), from €163,012 to €76,323
- Taxes -€20,199
down €20,199 (-98.0%), from €20,614 to €416
- Other operating charges -€3,699
down €3,699 (-43.3%), from €8,538 to €4,840
- Depreciation -€3,477
down €3,477 (-5.6%), from €61,787 to €58,310
- Staff costs -€2,190
down €2,190 (-9.3%), from €23,523 to €21,333
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 | €356,743 | €269,137 | -€87,606 | -24.6% |
| Fixed assets | 21/28 | €265,533 | €207,223 | -€58,310 | -22.0% |
| Intangible fixed assets | 21 | €134,464 | €100,848 | -€33,616 | -25.0% |
| Tangible fixed assets | 22/27 | €131,069 | €106,375 | -€24,694 | -18.8% |
| Land and buildings | 22 | €69,118 | €68,709 | -€409 | -0.6% |
| Plant, machinery and equipment | 23 | €7,331 | €4,343 | -€2,988 | -40.8% |
| Furniture and vehicles | 24 | €53,298 | €32,001 | -€21,297 | -40.0% |
| Other tangible fixed assets | 26 | €1,322 | €1,322 | = | 0.0% |
| Current assets | 29/58 | €91,210 | €61,913 | -€29,297 | -32.1% |
| Amounts receivable within one year | 40/41 | €37,975 | €37,802 | -€173 | -0.5% |
| Trade receivables | 40 | €37,975 | €37,802 | -€173 | -0.5% |
| Cash at bank and in hand | 54/58 | €50,282 | €21,759 | -€28,523 | -56.7% |
| Deferred charges and accrued income | 490/1 | €2,953 | €2,353 | -€600 | -20.3% |
| Total equity and liabilities | 10/49 | €356,743 | €269,137 | -€87,606 | -24.6% |
| Equity | 10/15 | €180,253 | €170,282 | -€9,971 | -5.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €161,653 | €159,555 | -€2,098 | -1.3% |
| Tax-exempt reserves | 132 | €238 | - | -€238 | |
| Distributable reserves | 133 | €161,415 | €159,555 | -€1,860 | -1.2% |
| Profit (loss) carried forward | 14 | - | -€7,873 | -€7,873 | |
| Provisions and deferred taxes | 16 | €7,556 | €7,556 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €7,556 | €7,556 | = | 0.0% |
| Major repairs and maintenance | 162 | €7,556 | €7,556 | = | 0.0% |
| Amounts payable | 17/49 | €168,935 | €91,299 | -€77,636 | -46.0% |
| Amounts payable after more than one year | 17 | €35,959 | €8,591 | -€27,368 | -76.1% |
| Financial debts | 170/4 | €35,959 | €8,591 | -€27,368 | -76.1% |
| Amounts payable within one year | 42/48 | €132,976 | €82,708 | -€50,268 | -37.8% |
| Current portion of amounts payable after more than one year | 42 | €74,956 | €27,368 | -€47,588 | -63.5% |
| Trade debts | 44 | €1,408 | €4,319 | +€2,911 | +206.6% |
| Suppliers | 440/4 | €1,408 | €4,319 | +€2,911 | +206.6% |
| Taxes, remuneration and social security | 45 | €14,153 | €11,639 | -€2,514 | -17.8% |
| Taxes | 450/3 | €9,301 | €7,642 | -€1,659 | -17.8% |
| Remuneration and social security | 454/9 | €4,852 | €3,997 | -€855 | -17.6% |
| Other amounts payable | 47/48 | €42,458 | €39,382 | -€3,076 | -7.2% |
| Remuneration, social security and pensions | 62 | €23,523 | €21,333 | -€2,190 | -9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,787 | €58,310 | -€3,477 | -5.6% |
| Other operating charges | 640/8 | €8,538 | €4,840 | -€3,699 | -43.3% |
| Gross operating margin | 9900 | €163,012 | €76,323 | -€86,689 | -53.2% |
| Operating profit (loss) | 9901 | €69,164 | -€8,159 | -€77,323 | |
| Financial income | 75/76B | €2 | €0 | -€1 | -77.5% |
| Recurring financial income | 75 | €2 | €0 | -€1 | -77.5% |
| Financial charges | 65/66B | €2,137 | €1,396 | -€740 | -34.6% |
| Recurring financial charges | 65 | €2,137 | €1,396 | -€740 | -34.6% |
| Profit (loss) for the period before taxes | 9903 | €67,029 | -€9,555 | -€76,584 | |
| Income taxes | 67/77 | €20,614 | €416 | -€20,199 | -98.0% |
| Profit (loss) for the period | 9904 | €46,415 | -€9,971 | -€56,386 | |
| Transfer from tax-exempt reserves | 789 | - | €238 | +€238 | |
| Profit (loss) for the period to be appropriated | 9905 | €46,415 | -€9,733 | -€56,148 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.