MEERKAT: 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.
MEERKAT
Largest movements
- Receivables within one year -€34,100
down €34,100 (-55.1%), from €61,939 to €27,839
of which Trade receivables: -€32,262
- Cash +€17,238
up €17,238 (+63.1%), from €27,316 to €44,554
mainly Receivables within one year (+€34,100) and Net result for the year (+€19,606)
- Tangible fixed assets -€7,024
down €7,024 (-4.1%), from €170,268 to €163,244
of which Land and buildings: -€9,086
- Profit (loss) carried forward -€20,766
down €20,766 (-63.3%), from €32,821 to €12,055
- Debts after one year -€10,184
down €10,184 (-6.7%), from €153,076 to €142,892
- Other debts +€7,930
up €7,930 (+21.7%), from €36,515 to €44,445
- Tax, wage and social debts -€3,461
down €3,461 (-53.4%), from €6,482 to €3,021
- Gross operating margin -€2,261
down €2,261 (-4.9%), from €46,271 to €44,010
- Depreciation +€526
up €526 (+5.4%), from €9,675 to €10,201
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 | €260,155 | €236,372 | -€23,783 | -9.1% |
| Fixed assets | 21/28 | €170,268 | €163,244 | -€7,024 | -4.1% |
| Tangible fixed assets | 22/27 | €170,268 | €163,244 | -€7,024 | -4.1% |
| Land and buildings | 22 | €164,842 | €155,756 | -€9,086 | -5.5% |
| Furniture and vehicles | 24 | €5,425 | €5,137 | -€288 | -5.3% |
| Other tangible fixed assets | 26 | - | €2,350 | +€2,350 | |
| Current assets | 29/58 | €89,887 | €73,129 | -€16,759 | -18.6% |
| Amounts receivable within one year | 40/41 | €61,939 | €27,839 | -€34,100 | -55.1% |
| Trade receivables | 40 | €55,744 | €23,481 | -€32,262 | -57.9% |
| Other amounts receivable | 41 | €6,195 | €4,358 | -€1,837 | -29.7% |
| Cash at bank and in hand | 54/58 | €27,316 | €44,554 | +€17,238 | +63.1% |
| Deferred charges and accrued income | 490/1 | €632 | €735 | +€103 | +16.3% |
| Total equity and liabilities | 10/49 | €260,155 | €236,372 | -€23,783 | -9.1% |
| Equity | 10/15 | €51,371 | €30,605 | -€20,766 | -40.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,821 | €12,055 | -€20,766 | -63.3% |
| Amounts payable | 17/49 | €208,784 | €205,767 | -€3,017 | -1.4% |
| Amounts payable after more than one year | 17 | €153,076 | €142,892 | -€10,184 | -6.7% |
| Financial debts | 170/4 | €153,076 | €142,892 | -€10,184 | -6.7% |
| Amounts payable within one year | 42/48 | €55,708 | €62,866 | +€7,158 | +12.8% |
| Current portion of amounts payable after more than one year | 42 | €9,820 | €10,184 | +€364 | +3.7% |
| Trade debts | 44 | €2,891 | €5,216 | +€2,324 | +80.4% |
| Suppliers | 440/4 | €2,891 | €5,216 | +€2,324 | +80.4% |
| Taxes, remuneration and social security | 45 | €6,482 | €3,021 | -€3,461 | -53.4% |
| Taxes | 450/3 | €6,482 | €3,021 | -€3,461 | -53.4% |
| Other amounts payable | 47/48 | €36,515 | €44,445 | +€7,930 | +21.7% |
| Accrued charges and deferred income | 492/3 | - | €9 | +€9 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,675 | €10,201 | +€526 | +5.4% |
| Other operating charges | 640/8 | €1,845 | €2,294 | +€449 | +24.4% |
| Gross operating margin | 9900 | €46,271 | €44,010 | -€2,261 | -4.9% |
| Operating profit (loss) | 9901 | €34,751 | €31,515 | -€3,236 | -9.3% |
| Financial income | 75/76B | €4 | €53 | +€49 | +1,231% |
| Recurring financial income | 75 | €4 | €53 | +€49 | +1,231% |
| Financial charges | 65/66B | €6,287 | €5,948 | -€339 | -5.4% |
| Recurring financial charges | 65 | €6,287 | €5,948 | -€339 | -5.4% |
| Profit (loss) for the period before taxes | 9903 | €28,468 | €25,620 | -€2,848 | -10.0% |
| Income taxes | 67/77 | €6,144 | €6,014 | -€130 | -2.1% |
| Profit (loss) for the period | 9904 | €22,324 | €19,606 | -€2,718 | -12.2% |
| Profit (loss) for the period to be appropriated | 9905 | €22,324 | €19,606 | -€2,718 | -12.2% |
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 27 October 2026 via checked.be.