Meersman & Co: 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.
Meersman & Co
Largest movements
- Tangible fixed assets +€25,408
up €25,408 (+351%), from €7,246 to €32,654
of which Leasing and similar rights: +€18,560
- Current investments -€20,001
down €20,001 (-27.1%), from €73,854 to €53,854
- Receivables within one year -€10,079
down €10,079 (-18.7%), from €54,042 to €43,963
of which Trade receivables: -€25,906
- Deferred charges and accrued income -€7,523
no longer reported in 2026 (was €7,523)
- Cash +€3,274
up €3,274 (+227%), from €1,444 to €4,718
mainly Current investments (+€20,001) and Debts after one year (+€16,984)
- Accrued charges and deferred income -€24,614
down €24,614 (-96.4%), from €25,535 to €921
- Reserves -€17,375
down €17,375 (-22.3%), from €77,865 to €60,490
of which Distributable reserves: -€17,375
- Debts after one year +€16,984
new in 2026: €16,984
- Other debts +€11,138
new in 2026: €11,138
- Current portion of long-term debt +€5,886
new in 2026: €5,886
- Gross operating margin +€30,690
up €30,690 (+85.4%), from €35,949 to €66,639
- Other operating charges +€29,685
up €29,685 (+1,330%), from €2,232 to €31,916
- Depreciation +€6,058
up €6,058 (+206%), from €2,943 to €9,002
- Financial charges +€1,362
up €1,362 (+288%), from €472 to €1,835
- Financial income +€737
up €737 (+147,456%), from €1 to €738
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €144,110 | €135,189 | -€8,922 | -6.2% |
| Fixed assets | 21/28 | €7,246 | €32,654 | +€25,408 | +351% |
| Tangible fixed assets | 22/27 | €7,246 | €32,654 | +€25,408 | +351% |
| Plant, machinery and equipment | 23 | €1,091 | €2,049 | +€958 | +87.8% |
| Furniture and vehicles | 24 | €5,978 | €12,045 | +€6,067 | +101% |
| Leasing and similar rights | 25 | - | €18,560 | +€18,560 | |
| Other tangible fixed assets | 26 | €177 | - | -€177 | |
| Current assets | 29/58 | €136,864 | €102,535 | -€34,329 | -25.1% |
| Amounts receivable within one year | 40/41 | €54,042 | €43,963 | -€10,079 | -18.7% |
| Trade receivables | 40 | €47,880 | €21,974 | -€25,906 | -54.1% |
| Other amounts receivable | 41 | €6,163 | €21,990 | +€15,827 | +257% |
| Current investments | 50/53 | €73,854 | €53,854 | -€20,001 | -27.1% |
| Cash at bank and in hand | 54/58 | €1,444 | €4,718 | +€3,274 | +227% |
| Deferred charges and accrued income | 490/1 | €7,523 | - | -€7,523 | |
| Total equity and liabilities | 10/49 | €144,110 | €135,189 | -€8,922 | -6.2% |
| Equity | 10/15 | €100,424 | €83,049 | -€17,375 | -17.3% |
| Contributions | 10/11 | €21,000 | €21,000 | = | 0.0% |
| Reserves | 13 | €77,865 | €60,490 | -€17,375 | -22.3% |
| Non-distributable reserves | 130/1 | €2,100 | €2,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,100 | €2,100 | = | 0.0% |
| Distributable reserves | 133 | €75,765 | €58,390 | -€17,375 | -22.9% |
| Profit (loss) carried forward | 14 | €1,559 | €1,559 | = | 0.0% |
| Amounts payable | 17/49 | €43,687 | €52,140 | +€8,453 | +19.3% |
| Amounts payable after more than one year | 17 | - | €16,984 | +€16,984 | |
| Financial debts | 170/4 | - | €16,984 | +€16,984 | |
| Amounts payable within one year | 42/48 | €18,152 | €34,234 | +€16,083 | +88.6% |
| Current portion of amounts payable after more than one year | 42 | - | €5,886 | +€5,886 | |
| Trade debts | 44 | €5,426 | €7,058 | +€1,632 | +30.1% |
| Suppliers | 440/4 | €5,426 | €7,058 | +€1,632 | +30.1% |
| Taxes, remuneration and social security | 45 | €12,726 | €10,153 | -€2,573 | -20.2% |
| Taxes | 450/3 | €12,726 | €10,153 | -€2,573 | -20.2% |
| Other amounts payable | 47/48 | - | €11,138 | +€11,138 | |
| Accrued charges and deferred income | 492/3 | €25,535 | €921 | -€24,614 | -96.4% |
| Remuneration, social security and pensions | 62 | - | €39 | +€39 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,943 | €9,002 | +€6,058 | +206% |
| Other operating charges | 640/8 | €2,232 | €31,916 | +€29,685 | +1,330% |
| Gross operating margin | 9900 | €35,949 | €66,639 | +€30,690 | +85.4% |
| Operating profit (loss) | 9901 | €30,774 | €25,682 | -€5,093 | -16.5% |
| Financial income | 75/76B | €1 | €738 | +€737 | +147,456% |
| Recurring financial income | 75 | €1 | €738 | +€737 | +147,456% |
| Financial charges | 65/66B | €472 | €1,835 | +€1,362 | +288% |
| Recurring financial charges | 65 | €472 | €1,835 | +€1,362 | +288% |
| Profit (loss) for the period before taxes | 9903 | €30,303 | €24,585 | -€5,718 | -18.9% |
| Income taxes | 67/77 | €10,874 | €10,153 | -€721 | -6.6% |
| Profit (loss) for the period | 9904 | €19,428 | €14,432 | -€4,996 | -25.7% |
| Profit (loss) for the period to be appropriated | 9905 | €19,428 | €14,432 | -€4,996 | -25.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.