MEERSHOEK: 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.
MEERSHOEK
Largest movements
- Receivables within one year -€83,112
down €83,112 (-86.6%), from €95,963 to €12,851
of which Trade receivables: -€83,112
- Tangible fixed assets -€82,926
down €82,926 (-5.3%), from €1.6m to €1.5m
of which Land and buildings: -€74,105
- Other debts -€178,016
down €178,016 (-31.5%), from €564,726 to €386,710
- Profit (loss) carried forward +€22,570
up €22,570 (+14.2%), from -€159,078 to -€136,508
- Gross operating margin -€47,005
down €47,005 (-29.7%), from €158,175 to €111,170
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 | €1,669,865 | €1,505,534 | -€164,331 | -9.8% |
| Fixed assets | 21/28 | €1,573,215 | €1,490,289 | -€82,926 | -5.3% |
| Tangible fixed assets | 22/27 | €1,573,172 | €1,490,245 | -€82,926 | -5.3% |
| Land and buildings | 22 | €1,560,783 | €1,486,678 | -€74,105 | -4.7% |
| Plant, machinery and equipment | 23 | €528 | €71 | -€457 | -86.5% |
| Furniture and vehicles | 24 | €11,861 | €3,496 | -€8,364 | -70.5% |
| Financial fixed assets | 28 | €43 | €43 | = | 0.0% |
| Current assets | 29/58 | €96,650 | €15,246 | -€81,404 | -84.2% |
| Amounts receivable within one year | 40/41 | €95,963 | €12,851 | -€83,112 | -86.6% |
| Trade receivables | 40 | €95,212 | €12,100 | -€83,112 | -87.3% |
| Other amounts receivable | 41 | €751 | €751 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €687 | €2,395 | +€1,708 | +249% |
| Total equity and liabilities | 10/49 | €1,669,865 | €1,505,534 | -€164,331 | -9.8% |
| Equity | 10/15 | €363,422 | €385,992 | +€22,570 | +6.2% |
| Contributions | 10/11 | €475,000 | €475,000 | = | 0.0% |
| Reserves | 13 | €47,500 | €47,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €47,500 | €47,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €47,500 | €47,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€159,078 | -€136,508 | +€22,570 | +14.2% |
| Amounts payable | 17/49 | €1,306,443 | €1,119,542 | -€186,901 | -14.3% |
| Amounts payable after more than one year | 17 | €720,000 | €720,000 | = | 0.0% |
| Financial debts | 170/4 | €720,000 | €720,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €586,443 | €399,542 | -€186,901 | -31.9% |
| Trade debts | 44 | €1,927 | €1,707 | -€220 | -11.4% |
| Suppliers | 440/4 | €1,927 | €1,707 | -€220 | -11.4% |
| Taxes, remuneration and social security | 45 | €19,790 | €11,125 | -€8,665 | -43.8% |
| Taxes | 450/3 | €19,790 | €11,125 | -€8,665 | -43.8% |
| Other amounts payable | 47/48 | €564,726 | €386,710 | -€178,016 | -31.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,925 | €82,926 | +€1 | 0.0% |
| Other operating charges | 640/8 | €5,131 | €5,518 | +€387 | +7.5% |
| Gross operating margin | 9900 | €158,175 | €111,170 | -€47,005 | -29.7% |
| Operating profit (loss) | 9901 | €70,119 | €22,726 | -€47,393 | -67.6% |
| Financial income | 75/76B | €91 | €49 | -€41 | -45.5% |
| Recurring financial income | 75 | €91 | €49 | -€41 | -45.5% |
| Financial charges | 65/66B | €45 | €29 | -€16 | -36.3% |
| Recurring financial charges | 65 | €45 | €29 | -€16 | -36.3% |
| Profit (loss) for the period before taxes | 9903 | €70,164 | €22,746 | -€47,418 | -67.6% |
| Income taxes | 67/77 | €174 | €176 | +€2 | +1.0% |
| Profit (loss) for the period | 9904 | €69,990 | €22,570 | -€47,420 | -67.8% |
| Profit (loss) for the period to be appropriated | 9905 | €69,990 | €22,570 | -€47,420 | -67.8% |
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 25 October 2026 via checked.be.