MEERSCHMAN: 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.
What changed
MEERSCHMAN
NACE 47.811, Retail sale of cars and light vans (up to 3.5 tonnes)
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.8m
2024 · €1.9m-€151,033
Equity
€6.3m
2024 · €5.6m+€763,497
Cash
€3.8m
2024 · €3.2m+€525,267
Balance sheet total
€22.0m
2024 · €25.3m-€3.3m
Largest movements
Assets
- Stocks and contracts -€2.1m
down €2.1m (-15.5%), from €13.4m to €11.3m
- Deferred charges and accrued income -€981,021
down €981,021 (-71.7%), from €1.4m to €388,064
- Receivables within one year -€738,282
down €738,282 (-17.5%), from €4.2m to €3.5m
of which Other amounts receivable: -€707,355
- Cash +€525,267
up €525,267 (+16.2%), from €3.2m to €3.8m
mainly Stocks and contracts (+€2.1m) and Net result for the year (+€1.8m)
Equity and liabilities
- Trade debts -€1.8m
down €1.8m (-17.2%), from €10.6m to €8.8m
- Short-term financial debts -€1.5m
no longer reported in 2025 (was €1.5m)
- Profit (loss) carried forward +€763,497
up €763,497 (+15.0%), from €5.1m to €5.8m
- Debts after one year -€651,490
down €651,490 (-41.6%), from €1.6m to €916,303
- Tax, wage and social debts -€416,826
down €416,826 (-34.2%), from €1.2m to €801,492
of which Taxes: -€408,246
Income statement
- Goods and materials -€2.7m
down €2.7m (-3.6%), from €75.7m to €73.0m
of which Purchases: -€3.0m
- Turnover -€1.6m
down €1.6m (-2.1%), from €78.8m to €77.2m
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.
Result 2024
€1.9m
Turnover
-€1.6m
Other operating income
-€58,398
Goods and materials
+€2.7m
Services and other goods
-€636,238
Staff costs
-€662,904
Depreciation
-€92,281
Other operating charges
+€54,729
Other operating items
+€5,663
Financial income
+€8,099
Financial charges
+€91,172
Taxes
+€50,317
Result 2025
€1.8m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€4.4m
Investment
-€714,687
Financing
-€3.1m
Cash 2024
€3.2m
From operations (derived)
+€4.4m
Net result for the year
+€1.8m
Depreciation
+€748,145
Stocks and contracts
+€2.1m
Receivables within one year
+€738,282
Deferred charges and accrued income
+€981,021
Trade debts
-€1.8m
Tax, wage and social debts
-€416,826
Advances received
-€31,736
Other debts
+€325,928
Accrued charges and deferred income
-€7,771
Investment (derived)
-€714,687
Investment in fixed assets (net)
-€714,687
Financing
-€3.1m
Debts after one year
-€651,490
Current portion of long-term debt
+€36,750
Short-term financial debts
-€1.5m
Contributions, distributions and other
-€1.0m
Cash 2025
€3.8m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €25,286,900 | €21,983,037 | -€3.3m | -13.1% |
| Fixed assets | 21/28 | €3,039,858 | €3,006,400 | -€33,458 | -1.1% |
| Intangible fixed assets | 21 | €26,648 | €15,737 | -€10,911 | -40.9% |
| Tangible fixed assets | 22/27 | €3,012,410 | €2,989,862 | -€22,547 | -0.7% |
| Land and buildings | 22 | €1,093,594 | €1,401,523 | +€307,929 | +28.2% |
| Plant, machinery and equipment | 23 | €928,636 | €895,472 | -€33,164 | -3.6% |
| Furniture and vehicles | 24 | €385,213 | €357,184 | -€28,029 | -7.3% |
| Leasing and similar rights | 25 | €604,967 | €335,683 | -€269,284 | -44.5% |
| Financial fixed assets | 28 | €800 | €800 | = | 0.0% |
| Other financial fixed assets | 284/8 | €800 | €800 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €800 | €800 | = | 0.0% |
| Current assets | 29/58 | €22,247,042 | €18,976,637 | -€3.3m | -14.7% |
| Stocks and contracts in progress | 3 | €13,404,558 | €11,328,189 | -€2.1m | -15.5% |
| Stocks | 30/36 | €13,404,558 | €11,328,189 | -€2.1m | -15.5% |
| Goods purchased for resale | 34 | €13,404,558 | €11,328,189 | -€2.1m | -15.5% |
| Amounts receivable within one year | 40/41 | €4,224,382 | €3,486,101 | -€738,282 | -17.5% |
| Trade receivables | 40 | €2,115,901 | €2,084,974 | -€30,927 | -1.5% |
| Other amounts receivable | 41 | €2,108,481 | €1,401,127 | -€707,355 | -33.5% |
| Cash at bank and in hand | 54/58 | €3,249,017 | €3,774,284 | +€525,267 | +16.2% |
| Deferred charges and accrued income | 490/1 | €1,369,085 | €388,064 | -€981,021 | -71.7% |
| Total equity and liabilities | 10/49 | €25,286,900 | €21,983,037 | -€3.3m | -13.1% |
| Equity | 10/15 | €5,578,122 | €6,341,620 | +€763,497 | +13.7% |
| Contributions | 10/11 | €306,149 | €306,149 | = | 0.0% |
| Capital | 10 | €306,149 | €306,149 | = | 0.0% |
| Issued capital | 100 | €306,149 | €306,149 | = | 0.0% |
| Reserves | 13 | €188,701 | €188,701 | = | 0.0% |
| Non-distributable reserves | 130/1 | €30,615 | €30,615 | = | 0.0% |
| Legal reserve | 130 | €30,615 | €30,615 | = | 0.0% |
| Tax-exempt reserves | 132 | €755 | €755 | = | 0.0% |
| Distributable reserves | 133 | €157,331 | €157,331 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,083,272 | €5,846,770 | +€763,497 | +15.0% |
| Amounts payable | 17/49 | €19,708,778 | €15,641,417 | -€4.1m | -20.6% |
| Amounts payable after more than one year | 17 | €1,567,792 | €916,303 | -€651,490 | -41.6% |
| Financial debts | 170/4 | €1,567,792 | €916,303 | -€651,490 | -41.6% |
| Leasing and similar obligations | 172 | €532,283 | €168,784 | -€363,499 | -68.3% |
| Credit institutions | 173 | €1,035,509 | €747,519 | -€287,991 | -27.8% |
| Amounts payable within one year | 42/48 | €18,133,215 | €14,725,115 | -€3.4m | -18.8% |
| Current portion of amounts payable after more than one year | 42 | €702,240 | €738,990 | +€36,750 | +5.2% |
| Financial debts | 43 | €1,500,000 | - | -€1.5m | |
| Credit institutions | 430/8 | €1,500,000 | - | -€1.5m | |
| Trade debts | 44 | €10,579,543 | €8,757,327 | -€1.8m | -17.2% |
| Suppliers | 440/4 | €10,579,543 | €8,757,327 | -€1.8m | -17.2% |
| Advances received on contracts in progress | 46 | €77,576 | €45,840 | -€31,736 | -40.9% |
| Taxes, remuneration and social security | 45 | €1,218,318 | €801,492 | -€416,826 | -34.2% |
| Taxes | 450/3 | €541,643 | €133,397 | -€408,246 | -75.4% |
| Remuneration and social security | 454/9 | €676,675 | €668,094 | -€8,580 | -1.3% |
| Other amounts payable | 47/48 | €4,055,538 | €4,381,466 | +€325,928 | +8.0% |
| Accrued charges and deferred income | 492/3 | €7,771 | - | -€7,771 | |
| Operating income | 70/76A | €88,072,382 | €86,391,373 | -€1.7m | -1.9% |
| Turnover | 70 | €78,817,488 | €77,189,215 | -€1.6m | -2.1% |
| Other operating income | 74 | €9,254,893 | €9,196,496 | -€58,398 | -0.6% |
| Non-recurring operating income | 76A | - | €5,663 | +€5,663 | |
| Operating charges | 60/66A | €85,235,530 | €83,855,143 | -€1.4m | -1.6% |
| Goods for resale, raw materials and consumables | 60 | €75,673,424 | €72,956,344 | -€2.7m | -3.6% |
| Purchases | 600/8 | €73,839,717 | €70,879,975 | -€3.0m | -4.0% |
| Change in stocks: decrease (increase) | 609 | €1,833,707 | €2,076,369 | +€242,662 | +13.2% |
| Services and other goods | 61 | €4,097,789 | €4,734,027 | +€636,238 | +15.5% |
| Remuneration, social security and pensions | 62 | €4,682,738 | €5,345,642 | +€662,904 | +14.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €655,864 | €748,145 | +€92,281 | +14.1% |
| Other operating charges | 640/8 | €125,715 | €70,986 | -€54,729 | -43.5% |
| Operating profit (loss) | 9901 | €2,836,851 | €2,536,230 | -€300,621 | -10.6% |
| Financial income | 75/76B | €1,505 | €9,605 | +€8,099 | +538% |
| Recurring financial income | 75 | €1,505 | €9,605 | +€8,099 | +538% |
| Other financial income | 752/9 | €1,505 | €9,605 | +€8,099 | +538% |
| Financial charges | 65/66B | €559,857 | €468,685 | -€91,172 | -16.3% |
| Recurring financial charges | 65 | €559,857 | €468,685 | -€91,172 | -16.3% |
| Debt charges | 650 | €536,646 | €444,263 | -€92,383 | -17.2% |
| Other financial charges | 652/9 | €23,211 | €24,422 | +€1,211 | +5.2% |
| Profit (loss) for the period before taxes | 9903 | €2,278,500 | €2,077,150 | -€201,350 | -8.8% |
| Income taxes | 67/77 | €363,969 | €313,652 | -€50,317 | -13.8% |
| Taxes | 670/3 | €363,969 | €317,874 | -€46,095 | -12.7% |
| Tax adjustments and reversals of tax provisions | 77 | - | €4,222 | +€4,222 | |
| Profit (loss) for the period | 9904 | €1,914,531 | €1,763,497 | -€151,033 | -7.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,914,531 | €1,763,497 | -€151,033 | -7.9% |
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 23 October 2026 via checked.be.