MEERDAEL: 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.
MEERDAEL
Largest movements
- Cash +€12,235
up €12,235 (+4969.5%), from €246 to €12,481
mainly Other debts (+€20,936) and Depreciation (+€3,866)
- Receivables within one year +€9,000
new in 2025: €9,000
- Deferred charges and accrued income +€4,752
up €4,752 (+9412.6%), from €50 to €4,803
- Tangible fixed assets -€3,866
down €3,866 (-2.0%), from €191,683 to €187,817
of which Land and buildings: -€3,779
- Other debts +€20,936
up €20,936 (+138.5%), from €15,115 to €36,051
- Gross operating margin -€688
down €688 (-10.9%), from €6,339 to €5,651
- Depreciation -€188
down €188 (-4.6%), from €4,055 to €3,866
- Other operating charges -€174
down €174 (-14.0%), from €1,241 to €1,067
- Financial charges -€85
down €85 (-34.7%), from €244 to €160
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 | €191,980 | €214,101 | +€22,121 | +11.5% |
| Fixed assets | 21/28 | €191,683 | €187,817 | -€3,866 | -2.0% |
| Tangible fixed assets | 22/27 | €191,683 | €187,817 | -€3,866 | -2.0% |
| Land and buildings | 22 | €191,206 | €187,427 | -€3,779 | -2.0% |
| Plant, machinery and equipment | 23 | €477 | €390 | -€87 | -18.3% |
| Current assets | 29/58 | €297 | €26,284 | +€25,987 | +8759.0% |
| Amounts receivable within one year | 40/41 | - | €9,000 | +€9,000 | |
| Trade receivables | 40 | - | €9,000 | +€9,000 | |
| Cash at bank and in hand | 54/58 | €246 | €12,481 | +€12,235 | +4969.5% |
| Deferred charges and accrued income | 490/1 | €50 | €4,803 | +€4,752 | +9412.6% |
| Total equity and liabilities | 10/49 | €191,980 | €214,101 | +€22,121 | +11.5% |
| Equity | 10/15 | €66,105 | €66,663 | +€558 | +0.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €63,605 | €64,163 | +€558 | +0.9% |
| Tax-exempt reserves | 132 | €4,282 | €4,282 | = | 0.0% |
| Distributable reserves | 133 | €59,323 | €59,881 | +€558 | +0.9% |
| Amounts payable | 17/49 | €125,875 | €147,437 | +€21,562 | +17.1% |
| Amounts payable after more than one year | 17 | €90,000 | €90,000 | = | 0.0% |
| Financial debts | 170/4 | €90,000 | €90,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €35,875 | €57,437 | +€21,562 | +60.1% |
| Trade debts | 44 | €20,760 | €21,387 | +€627 | +3.0% |
| Suppliers | 440/4 | €20,760 | €21,387 | +€627 | +3.0% |
| Other amounts payable | 47/48 | €15,115 | €36,051 | +€20,936 | +138.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,055 | €3,866 | -€188 | -4.6% |
| Other operating charges | 640/8 | €1,241 | €1,067 | -€174 | -14.0% |
| Gross operating margin | 9900 | €6,339 | €5,651 | -€688 | -10.9% |
| Operating profit (loss) | 9901 | €1,044 | €718 | -€326 | -31.2% |
| Financial charges | 65/66B | €244 | €160 | -€85 | -34.7% |
| Recurring financial charges | 65 | €244 | €160 | -€85 | -34.7% |
| Profit (loss) for the period before taxes | 9903 | €800 | €558 | -€241 | -30.2% |
| Profit (loss) for the period | 9904 | €800 | €558 | -€241 | -30.2% |
| Profit (loss) for the period to be appropriated | 9905 | €800 | €558 | -€241 | -30.2% |
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 10 October 2026 via checked.be.