MEER: 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.
MEER
Largest movements
- Current investments -€385,513
down €385,513 (-38.5%), from €1.0m to €615,450
- Cash +€236,899
up €236,899 (+96.3%), from €245,885 to €482,785
mainly Current investments (+€385,513) and Net result for the year (+€67,010)
- Tangible fixed assets +€68,125
up €68,125 (+340%), from €20,031 to €88,155
of which Furniture and vehicles: +€67,495
- Debts after one year -€115,352
down €115,352 (-95.0%), from €121,480 to €6,128
- Reserves +€67,010
up €67,010 (+6.0%), from €1.1m to €1.2m
- Tax, wage and social debts -€15,484
down €15,484 (-68.3%), from €22,681 to €7,197
of which Taxes: -€14,820
- Financial income +€29,916
up €29,916 (+208%), from €14,412 to €44,328
- Gross operating margin +€9,471
up €9,471 (+11.9%), from €79,272 to €88,744
- Taxes +€5,432
up €5,432 (+30.7%), from €17,713 to €23,145
- Financial charges +€4,912
up €4,912 (+79.5%), from €6,180 to €11,092
- Staff costs +€1,969
up €1,969 (+7.1%), from €27,628 to €29,597
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 | €1,289,857 | €1,224,528 | -€65,329 | -5.1% |
| Fixed assets | 21/28 | €20,180 | €88,304 | +€68,125 | +338% |
| Tangible fixed assets | 22/27 | €20,031 | €88,155 | +€68,125 | +340% |
| Plant, machinery and equipment | 23 | €1,185 | €1,815 | +€630 | +53.1% |
| Furniture and vehicles | 24 | €0 | €67,495 | +€67,495 | |
| Other tangible fixed assets | 26 | €18,846 | €18,846 | = | 0.0% |
| Financial fixed assets | 28 | €149 | €149 | = | 0.0% |
| Current assets | 29/58 | €1,269,677 | €1,136,224 | -€133,454 | -10.5% |
| Amounts receivable within one year | 40/41 | €22,829 | €35,550 | +€12,721 | +55.7% |
| Trade receivables | 40 | €22,822 | €33,787 | +€10,965 | +48.0% |
| Other amounts receivable | 41 | €7 | €1,763 | +€1,756 | +25,935% |
| Current investments | 50/53 | €1,000,963 | €615,450 | -€385,513 | -38.5% |
| Cash at bank and in hand | 54/58 | €245,885 | €482,785 | +€236,899 | +96.3% |
| Deferred charges and accrued income | 490/1 | €0 | €2,440 | +€2,440 | |
| Total equity and liabilities | 10/49 | €1,289,857 | €1,224,528 | -€65,329 | -5.1% |
| Equity | 10/15 | €1,141,190 | €1,208,200 | +€67,010 | +5.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,121,190 | €1,188,200 | +€67,010 | +6.0% |
| Distributable reserves | 133 | €1,121,190 | €1,188,200 | +€67,010 | +6.0% |
| Amounts payable | 17/49 | €148,667 | €16,328 | -€132,339 | -89.0% |
| Amounts payable after more than one year | 17 | €121,480 | €6,128 | -€115,352 | -95.0% |
| Other amounts payable | 178/9 | €121,480 | €6,128 | -€115,352 | -95.0% |
| Amounts payable within one year | 42/48 | €27,037 | €8,201 | -€18,835 | -69.7% |
| Trade debts | 44 | €4,356 | €1,004 | -€3,352 | -76.9% |
| Suppliers | 440/4 | €4,356 | €1,004 | -€3,352 | -76.9% |
| Taxes, remuneration and social security | 45 | €22,681 | €7,197 | -€15,484 | -68.3% |
| Taxes | 450/3 | €19,029 | €4,209 | -€14,820 | -77.9% |
| Remuneration and social security | 454/9 | €3,652 | €2,988 | -€664 | -18.2% |
| Accrued charges and deferred income | 492/3 | €150 | €1,999 | +€1,849 | +1,232% |
| Remuneration, social security and pensions | 62 | €27,628 | €29,597 | +€1,969 | +7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €614 | €817 | +€203 | +33.0% |
| Other operating charges | 640/8 | €1,264 | €1,411 | +€147 | +11.6% |
| Gross operating margin | 9900 | €79,272 | €88,744 | +€9,471 | +11.9% |
| Operating profit (loss) | 9901 | €49,766 | €56,919 | +€7,153 | +14.4% |
| Financial income | 75/76B | €14,412 | €44,328 | +€29,916 | +208% |
| Recurring financial income | 75 | €14,412 | €44,328 | +€29,916 | +208% |
| Financial charges | 65/66B | €6,180 | €11,092 | +€4,912 | +79.5% |
| Recurring financial charges | 65 | €6,180 | €11,092 | +€4,912 | +79.5% |
| Profit (loss) for the period before taxes | 9903 | €57,997 | €90,155 | +€32,157 | +55.4% |
| Income taxes | 67/77 | €17,713 | €23,145 | +€5,432 | +30.7% |
| Profit (loss) for the period | 9904 | €40,284 | €67,010 | +€26,726 | +66.3% |
| Profit (loss) for the period to be appropriated | 9905 | €40,284 | €67,010 | +€26,726 | +66.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.