Meerland: 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.
Meerland
Largest movements
- Tangible fixed assets +€782,985
up €782,985 (+146%), from €534,669 to €1.3m
of which Land and buildings: +€787,027
- Stocks and contracts +€686,794
new in 2025: €686,794
- Receivables within one year -€60,054
down €60,054 (-52.4%), from €114,676 to €54,622
of which Trade receivables: -€64,874
- Cash -€33,339
down €33,339 (-45.4%), from €73,416 to €40,077
mainly Investment in fixed assets (net) (-€848,672) and Stocks and contracts (-€686,794)
- Short-term financial debts +€850,000
new in 2025: €850,000
- Debts after one year +€202,430
up €202,430 (+36.2%), from €559,334 to €761,764
- Reserves +€132,168
up €132,168 (+24.7%), from €534,465 to €666,634
- Other debts +€89,138
up €89,138 (+6,494%), from €1,373 to €90,510
- Current portion of long-term debt +€50,269
up €50,269 (+37.2%), from €135,000 to €185,269
- Gross operating margin -€47,096
down €47,096 (-15.2%), from €309,312 to €262,216
- Taxes -€17,982
down €17,982 (-21.4%), from €84,199 to €66,217
- Depreciation +€13,129
up €13,129 (+49.5%), from €26,520 to €39,649
- Financial charges +€6,985
up €6,985 (+41.0%), from €17,021 to €24,006
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 | €1,386,154 | €2,768,783 | +€1.4m | +99.7% |
| Formation expenses | 20 | €2,397 | €1,531 | -€866 | -36.1% |
| Fixed assets | 21/28 | €1,142,444 | €1,952,333 | +€809,889 | +70.9% |
| Intangible fixed assets | 21 | €5,510 | €4,898 | -€612 | -11.1% |
| Tangible fixed assets | 22/27 | €534,669 | €1,317,654 | +€782,985 | +146% |
| Land and buildings | 22 | €496,271 | €1,283,298 | +€787,027 | +159% |
| Plant, machinery and equipment | 23 | €7,637 | €5,653 | -€1,984 | -26.0% |
| Furniture and vehicles | 24 | €29,331 | €16,352 | -€12,978 | -44.2% |
| Other tangible fixed assets | 26 | €1,430 | €12,351 | +€10,921 | +764% |
| Financial fixed assets | 28 | €602,265 | €629,781 | +€27,516 | +4.6% |
| Current assets | 29/58 | €241,314 | €814,919 | +€573,605 | +238% |
| Amounts receivable after more than one year | 29 | €10,000 | €10,000 | = | 0.0% |
| Other amounts receivable | 291 | €10,000 | €10,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | - | €686,794 | +€686,794 | |
| Stocks | 30/36 | - | €686,794 | +€686,794 | |
| Amounts receivable within one year | 40/41 | €114,676 | €54,622 | -€60,054 | -52.4% |
| Trade receivables | 40 | €114,676 | €49,802 | -€64,874 | -56.6% |
| Other amounts receivable | 41 | €0 | €4,820 | +€4,820 | |
| Current investments | 50/53 | €39,966 | €20,233 | -€19,733 | -49.4% |
| Cash at bank and in hand | 54/58 | €73,416 | €40,077 | -€33,339 | -45.4% |
| Deferred charges and accrued income | 490/1 | €3,256 | €3,193 | -€63 | -1.9% |
| Total equity and liabilities | 10/49 | €1,386,154 | €2,768,783 | +€1.4m | +99.7% |
| Equity | 10/15 | €599,585 | €769,890 | +€170,305 | +28.4% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Revaluation surpluses | 12 | €65,119 | €103,255 | +€38,136 | +58.6% |
| Reserves | 13 | €534,465 | €666,634 | +€132,168 | +24.7% |
| Distributable reserves | 133 | €534,465 | €666,634 | +€132,168 | +24.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €786,569 | €1,998,893 | +€1.2m | +154% |
| Amounts payable after more than one year | 17 | €559,334 | €761,764 | +€202,430 | +36.2% |
| Financial debts | 170/4 | €559,334 | €761,764 | +€202,430 | +36.2% |
| Amounts payable within one year | 42/48 | €227,236 | €1,237,129 | +€1.0m | +444% |
| Current portion of amounts payable after more than one year | 42 | €135,000 | €185,269 | +€50,269 | +37.2% |
| Financial debts | 43 | - | €850,000 | +€850,000 | |
| Credit institutions | 430/8 | - | €850,000 | +€850,000 | |
| Trade debts | 44 | €7,161 | €21,918 | +€14,758 | +206% |
| Suppliers | 440/4 | €7,161 | €21,918 | +€14,758 | +206% |
| Taxes, remuneration and social security | 45 | €83,703 | €89,432 | +€5,729 | +6.8% |
| Taxes | 450/3 | €83,703 | €89,432 | +€5,729 | +6.8% |
| Other amounts payable | 47/48 | €1,373 | €90,510 | +€89,138 | +6,494% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,520 | €39,649 | +€13,129 | +49.5% |
| Other operating charges | 640/8 | €2,707 | €2,939 | +€232 | +8.6% |
| Non-recurring operating charges | 66A | €6,717 | €0 | -€6,717 | -100% |
| Gross operating margin | 9900 | €309,312 | €262,216 | -€47,096 | -15.2% |
| Operating profit (loss) | 9901 | €273,368 | €219,628 | -€53,740 | -19.7% |
| Financial income | 75/76B | €1,492 | €2,763 | +€1,271 | +85.2% |
| Recurring financial income | 75 | €1,492 | €2,763 | +€1,271 | +85.2% |
| Financial charges | 65/66B | €17,021 | €24,006 | +€6,985 | +41.0% |
| Recurring financial charges | 65 | €17,021 | €24,006 | +€6,985 | +41.0% |
| Profit (loss) for the period before taxes | 9903 | €257,839 | €198,385 | -€59,454 | -23.1% |
| Income taxes | 67/77 | €84,199 | €66,217 | -€17,982 | -21.4% |
| Profit (loss) for the period | 9904 | €173,640 | €132,168 | -€41,472 | -23.9% |
| Profit (loss) for the period to be appropriated | 9905 | €173,640 | €132,168 | -€41,472 | -23.9% |
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 29 October 2026 via checked.be.