Meeus: 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.
Meeus
Largest movements
- Tangible fixed assets -€68,086
down €68,086 (-12.1%), from €563,484 to €495,398
of which Furniture and vehicles: -€82,059
- Receivables after one year +€53,422
up €53,422 (+31.4%), from €169,900 to €223,322
- Cash +€50,472
up €50,472 (+84.9%), from €59,451 to €109,923
mainly Depreciation (+€122,819) and Net result for the year (+€61,056)
- Receivables within one year -€30,470
down €30,470 (-13.5%), from €225,409 to €194,940
of which Trade receivables: -€54,842
- Current investments -€13,442
down €13,442 (-40.5%), from €33,175 to €19,733
- Trade debts -€61,912
down €61,912 (-61.2%), from €101,092 to €39,180
- Tax, wage and social debts +€56,745
up €56,745 (+53.0%), from €107,116 to €163,862
of which Remuneration and social security: +€45,696
- Debts after one year -€50,965
down €50,965 (-12.5%), from €408,696 to €357,731
of which Other amounts payable: -€31,000
- Reserves +€45,256
up €45,256 (+15.7%), from €287,360 to €332,616
- Gross operating margin +€181,630
up €181,630 (+15.5%), from €1.2m to €1.4m
- Staff costs +€132,881
up €132,881 (+13.5%), from €981,802 to €1.1m
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 | €1,072,279 | €1,062,366 | -€9,913 | -0.9% |
| Fixed assets | 21/28 | €567,034 | €498,948 | -€68,086 | -12.0% |
| Tangible fixed assets | 22/27 | €563,484 | €495,398 | -€68,086 | -12.1% |
| Land and buildings | 22 | €260,303 | €231,900 | -€28,403 | -10.9% |
| Plant, machinery and equipment | 23 | €60,598 | €54,283 | -€6,315 | -10.4% |
| Furniture and vehicles | 24 | €226,297 | €144,238 | -€82,059 | -36.3% |
| Leasing and similar rights | 25 | - | €51,069 | +€51,069 | |
| Other tangible fixed assets | 26 | €16,286 | €13,908 | -€2,378 | -14.6% |
| Financial fixed assets | 28 | €3,550 | €3,550 | = | 0.0% |
| Current assets | 29/58 | €505,245 | €563,418 | +€58,173 | +11.5% |
| Amounts receivable after more than one year | 29 | €169,900 | €223,322 | +€53,422 | +31.4% |
| Other amounts receivable | 291 | €169,900 | €223,322 | +€53,422 | +31.4% |
| Stocks and contracts in progress | 3 | €17,310 | €15,243 | -€2,066 | -11.9% |
| Stocks | 30/36 | €17,310 | €15,243 | -€2,066 | -11.9% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €225,409 | €194,940 | -€30,470 | -13.5% |
| Trade receivables | 40 | €224,854 | €170,013 | -€54,842 | -24.4% |
| Other amounts receivable | 41 | €555 | €24,927 | +€24,372 | +4390.4% |
| Current investments | 50/53 | €33,175 | €19,733 | -€13,442 | -40.5% |
| Cash at bank and in hand | 54/58 | €59,451 | €109,923 | +€50,472 | +84.9% |
| Deferred charges and accrued income | 490/1 | - | €259 | +€259 | |
| Total equity and liabilities | 10/49 | €1,072,279 | €1,062,366 | -€9,913 | -0.9% |
| Equity | 10/15 | €305,960 | €351,216 | +€45,256 | +14.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €287,360 | €332,616 | +€45,256 | +15.7% |
| Distributable reserves | 133 | €287,360 | €332,616 | +€45,256 | +15.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €766,319 | €711,150 | -€55,169 | -7.2% |
| Amounts payable after more than one year | 17 | €408,696 | €357,731 | -€50,965 | -12.5% |
| Financial debts | 170/4 | €358,696 | €338,731 | -€19,965 | -5.6% |
| Other amounts payable | 178/9 | €50,000 | €19,000 | -€31,000 | -62.0% |
| Amounts payable within one year | 42/48 | €357,623 | €353,419 | -€4,204 | -1.2% |
| Current portion of amounts payable after more than one year | 42 | €140,550 | €133,625 | -€6,925 | -4.9% |
| Trade debts | 44 | €101,092 | €39,180 | -€61,912 | -61.2% |
| Suppliers | 440/4 | €101,092 | €39,180 | -€61,912 | -61.2% |
| Taxes, remuneration and social security | 45 | €107,116 | €163,862 | +€56,745 | +53.0% |
| Taxes | 450/3 | €11,667 | €22,717 | +€11,049 | +94.7% |
| Remuneration and social security | 454/9 | €95,449 | €141,145 | +€45,696 | +47.9% |
| Other amounts payable | 47/48 | €8,865 | €16,752 | +€7,887 | +89.0% |
| Remuneration, social security and pensions | 62 | €981,802 | €1,114,683 | +€132,881 | +13.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €123,240 | €122,819 | -€421 | -0.3% |
| Other operating charges | 640/8 | €10,098 | €16,875 | +€6,776 | +67.1% |
| Non-recurring operating charges | 66A | €0 | €187 | +€187 | |
| Gross operating margin | 9900 | €1,169,033 | €1,350,663 | +€181,630 | +15.5% |
| Operating profit (loss) | 9901 | €53,893 | €96,100 | +€42,207 | +78.3% |
| Financial income | 75/76B | €2,549 | €6,035 | +€3,485 | +136.7% |
| Recurring financial income | 75 | €2,549 | €6,035 | +€3,485 | +136.7% |
| Financial charges | 65/66B | €14,212 | €15,129 | +€917 | +6.5% |
| Recurring financial charges | 65 | €13,895 | €15,129 | +€1,234 | +8.9% |
| Non-recurring financial charges | 66B | €317 | - | -€317 | |
| Profit (loss) for the period before taxes | 9903 | €42,230 | €87,006 | +€44,776 | +106.0% |
| Income taxes | 67/77 | €13,301 | €25,950 | +€12,649 | +95.1% |
| Profit (loss) for the period | 9904 | €28,929 | €61,056 | +€32,127 | +111.1% |
| Profit (loss) for the period to be appropriated | 9905 | €28,929 | €61,056 | +€32,127 | +111.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.