MEERT GROUP: 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.
MEERT GROUP
Largest movements
- Financial fixed assets +€944,157
up €944,157 (+35.0%), from €2.7m to €3.6m
- Other debts +€942,657
up €942,657 (+4,190%), from €22,500 to €965,157
- Reserves +€249,424
up €249,424 (+50.9%), from €490,403 to €739,826
of which Distributable reserves: +€266,994
- Debts after one year -€222,528
down €222,528 (-14.2%), from €1.6m to €1.3m
- Financial income -€346,971
down €346,971 (-99.3%), from €349,328 to €2,357
- Taxes +€32,364
up €32,364 (+39.2%), from €82,632 to €114,996
- Gross operating margin +€19,886
up €19,886 (+5.1%), from €392,677 to €412,564
- Financial charges -€18,939
down €18,939 (-27.8%), from €68,209 to €49,270
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 | €3,205,973 | €4,130,333 | +€924,360 | +28.8% |
| Fixed assets | 21/28 | €2,700,000 | €3,644,157 | +€944,157 | +35.0% |
| Financial fixed assets | 28 | €2,700,000 | €3,644,157 | +€944,157 | +35.0% |
| Current assets | 29/58 | €505,973 | €486,176 | -€19,797 | -3.9% |
| Amounts receivable within one year | 40/41 | €503,483 | €483,085 | -€20,398 | -4.1% |
| Trade receivables | 40 | €503,483 | €483,085 | -€20,398 | -4.1% |
| Cash at bank and in hand | 54/58 | €2,490 | €3,091 | +€601 | +24.1% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €3,205,973 | €4,130,333 | +€924,360 | +28.8% |
| Equity | 10/15 | €1,245,346 | €1,494,769 | +€249,424 | +20.0% |
| Contributions | 10/11 | €200,100 | €200,100 | = | 0.0% |
| Reserves | 13 | €490,403 | €739,826 | +€249,424 | +50.9% |
| Tax-exempt reserves | 132 | €223,130 | €205,560 | -€17,570 | -7.9% |
| Distributable reserves | 133 | €267,273 | €534,266 | +€266,994 | +99.9% |
| Profit (loss) carried forward | 14 | €554,843 | €554,843 | = | 0.0% |
| Amounts payable | 17/49 | €1,960,627 | €2,635,564 | +€674,936 | +34.4% |
| Amounts payable after more than one year | 17 | €1,570,879 | €1,348,351 | -€222,528 | -14.2% |
| Financial debts | 170/4 | €1,570,879 | €1,348,351 | -€222,528 | -14.2% |
| Amounts payable within one year | 42/48 | €389,748 | €1,287,212 | +€897,464 | +230% |
| Current portion of amounts payable after more than one year | 42 | €273,607 | €248,361 | -€25,247 | -9.2% |
| Trade debts | 44 | €83 | €5,761 | +€5,677 | +6,800% |
| Suppliers | 440/4 | €83 | €5,761 | +€5,677 | +6,800% |
| Taxes, remuneration and social security | 45 | €93,558 | €67,934 | -€25,624 | -27.4% |
| Taxes | 450/3 | €93,558 | €67,934 | -€25,624 | -27.4% |
| Other amounts payable | 47/48 | €22,500 | €965,157 | +€942,657 | +4,190% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Other operating charges | 640/8 | €1,356 | €1,230 | -€126 | -9.3% |
| Gross operating margin | 9900 | €392,677 | €412,564 | +€19,886 | +5.1% |
| Operating profit (loss) | 9901 | €391,321 | €411,333 | +€20,012 | +5.1% |
| Financial income | 75/76B | €349,328 | €2,357 | -€346,971 | -99.3% |
| Recurring financial income | 75 | €349,328 | €2,357 | -€346,971 | -99.3% |
| Financial charges | 65/66B | €68,209 | €49,270 | -€18,939 | -27.8% |
| Recurring financial charges | 65 | €68,209 | €49,270 | -€18,939 | -27.8% |
| Profit (loss) for the period before taxes | 9903 | €672,439 | €364,420 | -€308,020 | -45.8% |
| Income taxes | 67/77 | €82,632 | €114,996 | +€32,364 | +39.2% |
| Profit (loss) for the period | 9904 | €589,808 | €249,424 | -€340,384 | -57.7% |
| Transfer from tax-exempt reserves | 789 | - | €17,570 | +€17,570 | |
| Transfer to tax-exempt reserves | 689 | €79,990 | €0 | -€79,990 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €509,818 | €266,994 | -€242,824 | -47.6% |
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.