MEERDEGAT: 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.
MEERDEGAT
Largest movements
- Tangible fixed assets -€46,944
down €46,944 (-5.3%), from €878,492 to €831,548
of which Land and buildings: -€43,474
- Receivables within one year +€20,021
up €20,021, from €0 to €20,021
of which Other amounts receivable: +€20,021
- Debts after one year -€75,857
down €75,857 (-22.2%), from €341,390 to €265,533
- Reserves +€70,330
up €70,330 (+21.1%), from €333,614 to €403,944
- Taxes -€7,641
down €7,641 (-21.8%), from €35,128 to €27,487
- Gross operating margin -€6,443
down €6,443 (-3.7%), from €172,866 to €166,423
- Financial charges +€5,691
up €5,691, from -€1,210 to €4,481
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 | €1,108,797 | €1,088,804 | -€19,993 | -1.8% |
| Fixed assets | 21/28 | €878,492 | €831,548 | -€46,944 | -5.3% |
| Tangible fixed assets | 22/27 | €878,492 | €831,548 | -€46,944 | -5.3% |
| Land and buildings | 22 | €858,636 | €815,161 | -€43,474 | -5.1% |
| Plant, machinery and equipment | 23 | €19,856 | €16,386 | -€3,470 | -17.5% |
| Current assets | 29/58 | €230,305 | €257,256 | +€26,951 | +11.7% |
| Amounts receivable within one year | 40/41 | €0 | €20,021 | +€20,021 | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | €20,021 | +€20,021 | |
| Cash at bank and in hand | 54/58 | €225,664 | €231,472 | +€5,809 | +2.6% |
| Deferred charges and accrued income | 490/1 | €4,641 | €5,764 | +€1,122 | +24.2% |
| Total equity and liabilities | 10/49 | €1,108,797 | €1,088,804 | -€19,993 | -1.8% |
| Equity | 10/15 | €666,723 | €737,053 | +€70,330 | +10.5% |
| Contributions | 10/11 | €328,401 | €328,401 | = | 0.0% |
| Reserves | 13 | €333,614 | €403,944 | +€70,330 | +21.1% |
| Distributable reserves | 133 | €333,614 | €403,944 | +€70,330 | +21.1% |
| Profit (loss) carried forward | 14 | €4,708 | €4,708 | = | 0.0% |
| Amounts payable | 17/49 | €442,074 | €351,751 | -€90,323 | -20.4% |
| Amounts payable after more than one year | 17 | €341,390 | €265,533 | -€75,857 | -22.2% |
| Financial debts | 170/4 | €341,390 | €265,533 | -€75,857 | -22.2% |
| Amounts payable within one year | 42/48 | €100,684 | €86,218 | -€14,466 | -14.4% |
| Current portion of amounts payable after more than one year | 42 | €75,031 | €75,857 | +€826 | +1.1% |
| Trade debts | 44 | €7,852 | €0 | -€7,852 | -100% |
| Suppliers | 440/4 | €7,852 | €0 | -€7,852 | -100% |
| Taxes, remuneration and social security | 45 | €17,470 | €10,361 | -€7,110 | -40.7% |
| Taxes | 450/3 | €17,470 | €10,361 | -€7,110 | -40.7% |
| Other amounts payable | 47/48 | €330 | €0 | -€330 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,732 | €57,114 | +€1,382 | +2.5% |
| Other operating charges | 640/8 | €6,799 | €7,011 | +€212 | +3.1% |
| Gross operating margin | 9900 | €172,866 | €166,423 | -€6,443 | -3.7% |
| Operating profit (loss) | 9901 | €110,335 | €102,298 | -€8,037 | -7.3% |
| Financial charges | 65/66B | -€1,210 | €4,481 | +€5,691 | |
| Recurring financial charges | 65 | -€1,210 | €4,481 | +€5,691 | |
| Profit (loss) for the period before taxes | 9903 | €111,545 | €97,818 | -€13,728 | -12.3% |
| Income taxes | 67/77 | €35,128 | €27,487 | -€7,641 | -21.8% |
| Profit (loss) for the period | 9904 | €76,417 | €70,330 | -€6,087 | -8.0% |
| Profit (loss) for the period to be appropriated | 9905 | €76,417 | €70,330 | -€6,087 | -8.0% |
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 14 October 2026 via checked.be.