MEAT LINK: 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.
MEAT LINK
Largest movements
- Receivables within one year +€73,978
up €73,978 (+50.7%), from €145,914 to €219,892
of which Trade receivables: +€73,718
- Tangible fixed assets -€11,779
down €11,779 (-20.9%), from €56,432 to €44,653
of which Plant, machinery and equipment: -€12,562
- Intangible fixed assets -€10,429
down €10,429 (-16.9%), from €61,686 to €51,257
- Profit (loss) carried forward +€66,396
up €66,396 (+16.0%), from -€416,117 to -€349,721
- Trade debts -€29,017
down €29,017 (-16.5%), from €175,938 to €146,922
- Other debts +€11,460
up €11,460 (+3.1%), from €365,216 to €376,675
- Gross operating margin +€128,599
up €128,599 (+32.3%), from €398,729 to €527,328
- Staff costs -€56,509
down €56,509 (-11.8%), from €476,901 to €420,392
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €287,997 | €336,802 | +€48,805 | +16.9% |
| Fixed assets | 21/28 | €118,118 | €95,910 | -€22,208 | -18.8% |
| Intangible fixed assets | 21 | €61,686 | €51,257 | -€10,429 | -16.9% |
| Tangible fixed assets | 22/27 | €56,432 | €44,653 | -€11,779 | -20.9% |
| Plant, machinery and equipment | 23 | €40,173 | €27,611 | -€12,562 | -31.3% |
| Furniture and vehicles | 24 | €73 | €48 | -€25 | -34.3% |
| Other tangible fixed assets | 26 | €16,186 | €16,994 | +€808 | +5.0% |
| Current assets | 29/58 | €169,880 | €240,892 | +€71,013 | +41.8% |
| Stocks and contracts in progress | 3 | €23,965 | €21,000 | -€2,965 | -12.4% |
| Stocks | 30/36 | €23,965 | €21,000 | -€2,965 | -12.4% |
| Amounts receivable within one year | 40/41 | €145,914 | €219,892 | +€73,978 | +50.7% |
| Trade receivables | 40 | €145,655 | €219,373 | +€73,718 | +50.6% |
| Other amounts receivable | 41 | €259 | €519 | +€259 | +100.0% |
| Total equity and liabilities | 10/49 | €287,997 | €336,802 | +€48,805 | +16.9% |
| Equity | 10/15 | -€347,917 | -€281,521 | +€66,396 | +19.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€416,117 | -€349,721 | +€66,396 | +16.0% |
| Amounts payable | 17/49 | €635,915 | €618,324 | -€17,591 | -2.8% |
| Amounts payable within one year | 42/48 | €635,915 | €618,324 | -€17,591 | -2.8% |
| Trade debts | 44 | €175,938 | €146,922 | -€29,017 | -16.5% |
| Suppliers | 440/4 | €175,938 | €146,922 | -€29,017 | -16.5% |
| Taxes, remuneration and social security | 45 | €94,761 | €94,727 | -€34 | 0.0% |
| Taxes | 450/3 | €25,557 | €29,919 | +€4,362 | +17.1% |
| Remuneration and social security | 454/9 | €69,204 | €64,807 | -€4,396 | -6.4% |
| Other amounts payable | 47/48 | €365,216 | €376,675 | +€11,460 | +3.1% |
| Non-recurring operating income | 76A | - | €25,000 | +€25,000 | |
| Remuneration, social security and pensions | 62 | €476,901 | €420,392 | -€56,509 | -11.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,265 | €28,580 | +€314 | +1.1% |
| Other operating charges | 640/8 | €1,020 | €144 | -€875 | -85.9% |
| Non-recurring operating charges | 66A | - | €400 | +€400 | |
| Gross operating margin | 9900 | €398,729 | €527,328 | +€128,599 | +32.3% |
| Operating profit (loss) | 9901 | -€107,456 | €77,813 | +€185,269 | |
| Financial charges | 65/66B | €13,548 | €11,253 | -€2,295 | -16.9% |
| Recurring financial charges | 65 | €13,501 | €11,253 | -€2,248 | -16.6% |
| Non-recurring financial charges | 66B | €47 | - | -€47 | |
| Profit (loss) for the period before taxes | 9903 | -€121,004 | €66,560 | +€187,564 | |
| Income taxes | 67/77 | €241 | €163 | -€77 | -32.1% |
| Profit (loss) for the period | 9904 | -€121,245 | €66,396 | +€187,641 | |
| Profit (loss) for the period to be appropriated | 9905 | -€121,245 | €66,396 | +€187,641 |
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 7 October 2026 via checked.be.