MEERSSEN: 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.
MEERSSEN
Largest movements
- Receivables within one year +€243,377
new in 2025: €243,377
of which Other amounts receivable: +€132,816
- Tangible fixed assets -€112,955
down €112,955 (-7.1%), from €1.6m to €1.5m
of which Land and buildings: -€103,461
- Profit (loss) carried forward +€108,470
up €108,470 (+53.2%), from €203,930 to €312,400
- Other debts +€29,298
up €29,298 (+24.3%), from €120,702 to €150,000
- Gross operating margin -€64,438
down €64,438 (-11.7%), from €550,994 to €486,557
- Financial charges -€37,693
down €37,693 (-40.2%), from €93,778 to €56,085
- Taxes +€36,239
up €36,239 (+11,775%), from €308 to €36,547
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,600,533 | €1,731,417 | +€130,884 | +8.2% |
| Fixed assets | 21/28 | €1,600,395 | €1,487,440 | -€112,955 | -7.1% |
| Tangible fixed assets | 22/27 | €1,599,895 | €1,486,940 | -€112,955 | -7.1% |
| Land and buildings | 22 | €1,532,459 | €1,428,998 | -€103,461 | -6.8% |
| Plant, machinery and equipment | 23 | €28,546 | €21,670 | -€6,876 | -24.1% |
| Other tangible fixed assets | 26 | €38,891 | €36,272 | -€2,619 | -6.7% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €138 | €243,977 | +€243,839 | +177,016% |
| Amounts receivable within one year | 40/41 | - | €243,377 | +€243,377 | |
| Trade receivables | 40 | - | €110,560 | +€110,560 | |
| Other amounts receivable | 41 | - | €132,816 | +€132,816 | |
| Deferred charges and accrued income | 490/1 | €138 | €601 | +€463 | +336% |
| Total equity and liabilities | 10/49 | €1,600,533 | €1,731,417 | +€130,884 | +8.2% |
| Equity | 10/15 | €445,930 | €554,400 | +€108,470 | +24.3% |
| Contributions | 10/11 | €220,000 | €220,000 | = | 0.0% |
| Reserves | 13 | €22,000 | €22,000 | = | 0.0% |
| Distributable reserves | 133 | €22,000 | €22,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €203,930 | €312,400 | +€108,470 | +53.2% |
| Amounts payable | 17/49 | €1,154,603 | €1,177,018 | +€22,415 | +1.9% |
| Amounts payable after more than one year | 17 | €1,000,000 | €1,000,000 | = | 0.0% |
| Financial debts | 170/4 | €1,000,000 | €1,000,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €154,603 | €177,018 | +€22,415 | +14.5% |
| Trade debts | 44 | €4,726 | €4,336 | -€391 | -8.3% |
| Suppliers | 440/4 | €4,726 | €4,336 | -€391 | -8.3% |
| Taxes, remuneration and social security | 45 | €29,174 | €22,682 | -€6,492 | -22.3% |
| Taxes | 450/3 | €29,174 | €22,682 | -€6,492 | -22.3% |
| Other amounts payable | 47/48 | €120,702 | €150,000 | +€29,298 | +24.3% |
| Non-recurring operating income | 76A | €848 | - | -€848 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €115,356 | €112,955 | -€2,400 | -2.1% |
| Other operating charges | 640/8 | €22,224 | €23,364 | +€1,140 | +5.1% |
| Gross operating margin | 9900 | €550,994 | €486,557 | -€64,438 | -11.7% |
| Operating profit (loss) | 9901 | €413,415 | €350,238 | -€63,177 | -15.3% |
| Financial income | 75/76B | €1,866 | €863 | -€1,003 | -53.7% |
| Recurring financial income | 75 | €1,866 | €863 | -€1,003 | -53.7% |
| Financial charges | 65/66B | €93,778 | €56,085 | -€37,693 | -40.2% |
| Recurring financial charges | 65 | €93,778 | €56,085 | -€37,693 | -40.2% |
| Profit (loss) for the period before taxes | 9903 | €321,503 | €295,016 | -€26,486 | -8.2% |
| Income taxes | 67/77 | €308 | €36,547 | +€36,239 | +11,775% |
| Profit (loss) for the period | 9904 | €321,195 | €258,470 | -€62,725 | -19.5% |
| Profit (loss) for the period to be appropriated | 9905 | €321,195 | €258,470 | -€62,725 | -19.5% |
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 18 October 2026 via checked.be.