MEERT: 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.
MEERT
Largest movements
- Cash +€12,582
up €12,582 (+68.8%), from €18,296 to €30,878
mainly Depreciation (+€12,016) and Receivables within one year (+€6,138)
- Tangible fixed assets -€12,016
down €12,016 (-49.7%), from €24,171 to €12,155
of which Furniture and vehicles: -€11,457
- Receivables within one year -€6,138
down €6,138 (-82.5%), from €7,439 to €1,301
of which Trade receivables: -€5,901
- Deferred charges and accrued income +€911
up €911 (+192.9%), from €472 to €1,383
- Debts after one year -€9,061
down €9,061 (-74.7%), from €12,136 to €3,075
- Profit (loss) carried forward +€2,855
up €2,855 (+10.1%), from -€28,253 to -€25,399
- Other debts +€2,307
new in 2025: €2,307
- Current portion of long-term debt -€1,153
down €1,153 (-11.3%), from €10,214 to €9,061
- Tax, wage and social debts +€856
up €856 (+111.6%), from €767 to €1,623
of which Remuneration and social security: +€1,223
- Gross operating margin +€10,187
up €10,187 (+164.2%), from €6,203 to €16,390
- Depreciation -€5,750
down €5,750 (-32.4%), from €17,766 to €12,016
- Financial charges -€295
down €295 (-31.8%), from €929 to €633
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 | €52,288 | €47,567 | -€4,721 | -9.0% |
| Fixed assets | 21/28 | €26,081 | €14,005 | -€12,076 | -46.3% |
| Tangible fixed assets | 22/27 | €24,171 | €12,155 | -€12,016 | -49.7% |
| Furniture and vehicles | 24 | €23,470 | €12,013 | -€11,457 | -48.8% |
| Other tangible fixed assets | 26 | €701 | €143 | -€558 | -79.6% |
| Financial fixed assets | 28 | €1,910 | €1,850 | -€60 | -3.1% |
| Current assets | 29/58 | €26,207 | €33,562 | +€7,355 | +28.1% |
| Amounts receivable within one year | 40/41 | €7,439 | €1,301 | -€6,138 | -82.5% |
| Trade receivables | 40 | €6,760 | €859 | -€5,901 | -87.3% |
| Other amounts receivable | 41 | €680 | €442 | -€237 | -34.9% |
| Cash at bank and in hand | 54/58 | €18,296 | €30,878 | +€12,582 | +68.8% |
| Deferred charges and accrued income | 490/1 | €472 | €1,383 | +€911 | +192.9% |
| Total equity and liabilities | 10/49 | €52,288 | €47,567 | -€4,721 | -9.0% |
| Equity | 10/15 | €24,884 | €27,739 | +€2,855 | +11.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €46,938 | €46,938 | = | 0.0% |
| Distributable reserves | 133 | €46,938 | €46,938 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,253 | -€25,399 | +€2,855 | +10.1% |
| Amounts payable | 17/49 | €27,404 | €19,828 | -€7,576 | -27.6% |
| Amounts payable after more than one year | 17 | €12,136 | €3,075 | -€9,061 | -74.7% |
| Financial debts | 170/4 | €12,136 | €3,075 | -€9,061 | -74.7% |
| Amounts payable within one year | 42/48 | €15,268 | €16,753 | +€1,485 | +9.7% |
| Current portion of amounts payable after more than one year | 42 | €10,214 | €9,061 | -€1,153 | -11.3% |
| Trade debts | 44 | €4,288 | €3,763 | -€525 | -12.3% |
| Suppliers | 440/4 | €4,288 | €3,763 | -€525 | -12.3% |
| Taxes, remuneration and social security | 45 | €767 | €1,623 | +€856 | +111.6% |
| Taxes | 450/3 | €490 | €123 | -€367 | -74.9% |
| Remuneration and social security | 454/9 | €277 | €1,500 | +€1,223 | +441.1% |
| Other amounts payable | 47/48 | - | €2,307 | +€2,307 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,766 | €12,016 | -€5,750 | -32.4% |
| Other operating charges | 640/8 | €829 | €916 | +€87 | +10.5% |
| Non-recurring operating charges | 66A | €63 | - | -€63 | |
| Gross operating margin | 9900 | €6,203 | €16,390 | +€10,187 | +164.2% |
| Operating profit (loss) | 9901 | -€12,455 | €3,458 | +€15,913 | |
| Financial income | 75/76B | €28 | €30 | +€2 | +6.5% |
| Recurring financial income | 75 | €28 | €30 | +€2 | +6.5% |
| Financial charges | 65/66B | €929 | €633 | -€295 | -31.8% |
| Recurring financial charges | 65 | €929 | €633 | -€295 | -31.8% |
| Profit (loss) for the period before taxes | 9903 | -€13,355 | €2,855 | +€16,210 | |
| Profit (loss) for the period | 9904 | -€13,355 | €2,855 | +€16,210 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,355 | €2,855 | +€16,210 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.