MEERFUN: 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.
MEERFUN
Largest movements
- Tangible fixed assets -€54,789
down €54,789 (-11.0%), from €496,864 to €442,075
of which Other tangible fixed assets: -€44,710
- Receivables within one year -€25,104
down €25,104 (-19.2%), from €130,938 to €105,835
of which Other amounts receivable: -€26,439
- Cash -€10,313
down €10,313 (-34.2%), from €30,119 to €19,807
mainly Other debts (-€56,000) and Trade debts (-€26,747)
- Other debts -€56,000
down €56,000 (-23.1%), from €242,536 to €186,536
- Trade debts -€26,747
down €26,747 (-52.6%), from €50,808 to €24,061
- Tax, wage and social debts -€7,374
down €7,374 (-9.3%), from €79,632 to €72,258
of which Taxes: -€7,815
- Staff costs +€23,580
up €23,580 (+16.5%), from €142,899 to €166,479
- Taxes +€20,486
up €20,486 (+60.0%), from €34,153 to €54,639
- Gross operating margin +€15,115
up €15,115 (+5.4%), from €278,501 to €293,616
- Financial charges -€6,061
down €6,061 (-83.9%), from €7,226 to €1,165
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 | €695,046 | €604,047 | -€90,999 | -13.1% |
| Fixed assets | 21/28 | €528,752 | €473,401 | -€55,351 | -10.5% |
| Intangible fixed assets | 21 | €888 | €326 | -€562 | -63.3% |
| Tangible fixed assets | 22/27 | €496,864 | €442,075 | -€54,789 | -11.0% |
| Land and buildings | 22 | €22,579 | €20,390 | -€2,189 | -9.7% |
| Plant, machinery and equipment | 23 | €17,495 | €10,912 | -€6,583 | -37.6% |
| Furniture and vehicles | 24 | €4,956 | €3,650 | -€1,306 | -26.4% |
| Other tangible fixed assets | 26 | €451,834 | €407,124 | -€44,710 | -9.9% |
| Financial fixed assets | 28 | €31,000 | €31,000 | = | 0.0% |
| Current assets | 29/58 | €166,294 | €130,646 | -€35,649 | -21.4% |
| Amounts receivable within one year | 40/41 | €130,938 | €105,835 | -€25,104 | -19.2% |
| Trade receivables | 40 | €2,657 | €3,992 | +€1,335 | +50.2% |
| Other amounts receivable | 41 | €128,281 | €101,843 | -€26,439 | -20.6% |
| Cash at bank and in hand | 54/58 | €30,119 | €19,807 | -€10,313 | -34.2% |
| Deferred charges and accrued income | 490/1 | €5,236 | €5,004 | -€232 | -4.4% |
| Total equity and liabilities | 10/49 | €695,046 | €604,047 | -€90,999 | -13.1% |
| Equity | 10/15 | €322,070 | €321,192 | -€878 | -0.3% |
| Contributions | 10/11 | €7,398 | €7,398 | = | 0.0% |
| Reserves | 13 | €314,672 | €313,794 | -€878 | -0.3% |
| Distributable reserves | 133 | €314,672 | €313,794 | -€878 | -0.3% |
| Amounts payable | 17/49 | €372,976 | €282,855 | -€90,121 | -24.2% |
| Amounts payable within one year | 42/48 | €372,976 | €282,855 | -€90,121 | -24.2% |
| Trade debts | 44 | €50,808 | €24,061 | -€26,747 | -52.6% |
| Suppliers | 440/4 | €50,808 | €24,061 | -€26,747 | -52.6% |
| Taxes, remuneration and social security | 45 | €79,632 | €72,258 | -€7,374 | -9.3% |
| Taxes | 450/3 | €57,540 | €49,725 | -€7,815 | -13.6% |
| Remuneration and social security | 454/9 | €22,092 | €22,533 | +€441 | +2.0% |
| Other amounts payable | 47/48 | €242,536 | €186,536 | -€56,000 | -23.1% |
| Remuneration, social security and pensions | 62 | €142,899 | €166,479 | +€23,580 | +16.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,671 | €67,790 | +€1,119 | +1.7% |
| Other operating charges | 640/8 | €7,447 | €4,517 | -€2,930 | -39.3% |
| Gross operating margin | 9900 | €278,501 | €293,616 | +€15,115 | +5.4% |
| Operating profit (loss) | 9901 | €61,484 | €54,831 | -€6,653 | -10.8% |
| Financial income | 75/76B | €0 | €96 | +€95 | +159083.3% |
| Recurring financial income | 75 | €0 | €96 | +€95 | +159083.3% |
| Financial charges | 65/66B | €7,226 | €1,165 | -€6,061 | -83.9% |
| Recurring financial charges | 65 | €7,226 | €1,165 | -€6,061 | -83.9% |
| Profit (loss) for the period before taxes | 9903 | €54,258 | €53,761 | -€497 | -0.9% |
| Income taxes | 67/77 | €34,153 | €54,639 | +€20,486 | +60.0% |
| Profit (loss) for the period | 9904 | €20,106 | -€878 | -€20,984 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,106 | -€878 | -€20,984 |
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 11 October 2026 via checked.be.