MEELDAUW: 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.
MEELDAUW
Largest movements
- Cash +€40,396
up €40,396 (+211%), from €19,113 to €59,509
mainly Tax, wage and social debts (+€66,110) and Other debts (+€49,000)
- Tangible fixed assets +€18,111
up €18,111 (+3.2%), from €570,427 to €588,538
of which Land and buildings: +€16,885
- Receivables within one year -€15,910
down €15,910 (-92.9%), from €17,134 to €1,224
of which Trade receivables: -€9,077
- Tax, wage and social debts +€66,110
up €66,110 (+343%), from €19,265 to €85,375
of which Remuneration and social security: +€52,648
- Other debts +€49,000
up €49,000 (+47.2%), from €103,707 to €152,707
- Debts after one year -€40,852
down €40,852 (-7.1%), from €578,979 to €538,127
- Profit (loss) carried forward -€13,836
down €13,836 (-8.2%), from -€169,177 to -€183,013
- Trade debts -€13,792
down €13,792 (-75.8%), from €18,193 to €4,401
- Gross operating margin +€349,461
up €349,461 (+6,055%), from €5,771 to €355,232
- Staff costs +€279,914
up €279,914 (+1,020%), from €27,438 to €307,351
- Depreciation +€22,025
up €22,025 (+91.7%), from €24,006 to €46,032
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 | €614,630 | €662,193 | +€47,563 | +7.7% |
| Fixed assets | 21/28 | €571,193 | €589,048 | +€17,855 | +3.1% |
| Intangible fixed assets | 21 | €466 | €210 | -€256 | -54.9% |
| Tangible fixed assets | 22/27 | €570,427 | €588,538 | +€18,111 | +3.2% |
| Land and buildings | 22 | €527,791 | €544,677 | +€16,885 | +3.2% |
| Plant, machinery and equipment | 23 | €41,540 | €43,606 | +€2,066 | +5.0% |
| Furniture and vehicles | 24 | €1,096 | €255 | -€841 | -76.7% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €43,437 | €73,145 | +€29,708 | +68.4% |
| Stocks and contracts in progress | 3 | €5,903 | €8,000 | +€2,097 | +35.5% |
| Stocks | 30/36 | €5,903 | €8,000 | +€2,097 | +35.5% |
| Amounts receivable within one year | 40/41 | €17,134 | €1,224 | -€15,910 | -92.9% |
| Trade receivables | 40 | €10,066 | €990 | -€9,077 | -90.2% |
| Other amounts receivable | 41 | €7,068 | €234 | -€6,833 | -96.7% |
| Cash at bank and in hand | 54/58 | €19,113 | €59,509 | +€40,396 | +211% |
| Deferred charges and accrued income | 490/1 | €1,287 | €4,413 | +€3,126 | +243% |
| Total equity and liabilities | 10/49 | €614,630 | €662,193 | +€47,563 | +7.7% |
| Equity | 10/15 | -€149,177 | -€163,013 | -€13,836 | -9.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€169,177 | -€183,013 | -€13,836 | -8.2% |
| Amounts payable | 17/49 | €763,807 | €825,206 | +€61,399 | +8.0% |
| Amounts payable after more than one year | 17 | €578,979 | €538,127 | -€40,852 | -7.1% |
| Financial debts | 170/4 | €578,979 | €538,127 | -€40,852 | -7.1% |
| Amounts payable within one year | 42/48 | €183,712 | €286,051 | +€102,339 | +55.7% |
| Current portion of amounts payable after more than one year | 42 | €42,547 | €43,568 | +€1,022 | +2.4% |
| Trade debts | 44 | €18,193 | €4,401 | -€13,792 | -75.8% |
| Suppliers | 440/4 | €18,193 | €4,401 | -€13,792 | -75.8% |
| Taxes, remuneration and social security | 45 | €19,265 | €85,375 | +€66,110 | +343% |
| Taxes | 450/3 | €3,459 | €16,921 | +€13,462 | +389% |
| Remuneration and social security | 454/9 | €15,806 | €68,454 | +€52,648 | +333% |
| Other amounts payable | 47/48 | €103,707 | €152,707 | +€49,000 | +47.2% |
| Accrued charges and deferred income | 492/3 | €1,117 | €1,028 | -€88 | -7.9% |
| Non-recurring operating income | 76A | - | €1,429 | +€1,429 | |
| Remuneration, social security and pensions | 62 | €27,438 | €307,351 | +€279,914 | +1,020% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,006 | €46,032 | +€22,025 | +91.7% |
| Other operating charges | 640/8 | €1,371 | €2,780 | +€1,409 | +103% |
| Gross operating margin | 9900 | €5,771 | €355,232 | +€349,461 | +6,055% |
| Operating profit (loss) | 9901 | -€47,043 | -€931 | +€46,112 | +98.0% |
| Financial income | 75/76B | €14 | €0 | -€14 | -97.0% |
| Recurring financial income | 75 | €14 | €0 | -€14 | -97.0% |
| Financial charges | 65/66B | €12,520 | €12,905 | +€386 | +3.1% |
| Recurring financial charges | 65 | €11,820 | €12,905 | +€1,086 | +9.2% |
| Non-recurring financial charges | 66B | €700 | - | -€700 | |
| Profit (loss) for the period before taxes | 9903 | -€59,549 | -€13,836 | +€45,713 | +76.8% |
| Profit (loss) for the period | 9904 | -€59,549 | -€13,836 | +€45,713 | +76.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€59,549 | -€13,836 | +€45,713 | +76.8% |
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 19 October 2026 via checked.be.