MEERSENCO: what changed
Two fiscal 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.
MEERSENCO
Largest movements
- Tangible fixed assets -€58,157
down €58,157 (-3.5%), from €1.7m to €1.6m
- Debts after one year -€47,465
down €47,465 (-18.8%), from €251,885 to €204,421
- Gross operating margin +€14,851
up €14,851 (+19.8%), from €74,966 to €89,816
- Depreciation +€6,165
up €6,165 (+10.2%), from €60,617 to €66,781
- Other operating charges +€1,171
up €1,171 (+12.4%), from €9,457 to €10,628
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 | €1,664,882 | €1,617,890 | -€46,991 | -2.8% |
| Fixed assets | 21/28 | €1,661,778 | €1,603,371 | -€58,407 | -3.5% |
| Tangible fixed assets | 22/27 | €1,661,278 | €1,603,121 | -€58,157 | -3.5% |
| Land and buildings | 22 | €1,661,278 | €1,603,121 | -€58,157 | -3.5% |
| Financial fixed assets | 28 | €500 | €250 | -€250 | -50.0% |
| Current assets | 29/58 | €3,103 | €14,519 | +€11,416 | +367.8% |
| Amounts receivable within one year | 40/41 | €28 | €28 | = | 0.0% |
| Other amounts receivable | 41 | €28 | €28 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,807 | €13,662 | +€11,855 | +656.0% |
| Deferred charges and accrued income | 490/1 | €1,269 | €830 | -€439 | -34.6% |
| Total equity and liabilities | 10/49 | €1,664,882 | €1,617,890 | -€46,991 | -2.8% |
| Equity | 10/15 | €1,020,020 | €1,027,685 | +€7,665 | +0.8% |
| Contributions | 10/11 | €1,500,000 | €1,500,000 | = | 0.0% |
| Reserves | 13 | €20,000 | €27,665 | +€7,665 | +38.3% |
| Distributable reserves | 133 | €20,000 | €27,665 | +€7,665 | +38.3% |
| Profit (loss) carried forward | 14 | -€499,980 | -€499,980 | = | 0.0% |
| Amounts payable | 17/49 | €644,862 | €590,206 | -€54,656 | -8.5% |
| Amounts payable after more than one year | 17 | €251,885 | €204,421 | -€47,465 | -18.8% |
| Financial debts | 170/4 | €251,885 | €204,421 | -€47,465 | -18.8% |
| Amounts payable within one year | 42/48 | €392,977 | €385,785 | -€7,192 | -1.8% |
| Current portion of amounts payable after more than one year | 42 | €46,818 | €47,465 | +€647 | +1.4% |
| Taxes, remuneration and social security | 45 | - | €766 | +€766 | |
| Taxes | 450/3 | - | €766 | +€766 | |
| Other amounts payable | 47/48 | €346,158 | €337,554 | -€8,605 | -2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,617 | €66,781 | +€6,165 | +10.2% |
| Other operating charges | 640/8 | €9,457 | €10,628 | +€1,171 | +12.4% |
| Gross operating margin | 9900 | €74,966 | €89,816 | +€14,851 | +19.8% |
| Operating profit (loss) | 9901 | €4,892 | €12,407 | +€7,515 | +153.6% |
| Financial charges | 65/66B | €4,793 | €3,975 | -€817 | -17.1% |
| Recurring financial charges | 65 | €4,793 | €3,975 | -€817 | -17.1% |
| Profit (loss) for the period before taxes | 9903 | €99 | €8,431 | +€8,332 | +8393.4% |
| Income taxes | 67/77 | - | €766 | +€766 | |
| Profit (loss) for the period | 9904 | €99 | €7,665 | +€7,566 | +7621.3% |
| Profit (loss) for the period to be appropriated | 9905 | €99 | €7,665 | +€7,566 | +7621.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.