MEEUS ADVISORY: 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.
MEEUS ADVISORY
Largest movements
- Receivables within one year +€25,572
up €25,572 (+121.0%), from €21,135 to €46,707
of which Trade receivables: +€14,913
- Cash -€12,089
down €12,089 (-89.9%), from €13,446 to €1,357
mainly Receivables within one year (-€25,572) and Contributions, distributions and other (-€20,000)
- Deferred charges and accrued income +€1,662
up €1,662, from €0 to €1,662
- Tangible fixed assets -€1,539
down €1,539 (-51.7%), from €2,976 to €1,437
of which Furniture and vehicles: -€1,262
- Other debts +€20,000
new in 2025: €20,000
- Reserves -€9,841
down €9,841 (-48.0%), from €20,514 to €10,673
- Tax, wage and social debts +€2,715
up €2,715 (+25.7%), from €10,556 to €13,272
- Gross operating margin +€12,558
up €12,558 (+350.9%), from €3,579 to €16,137
- Taxes +€2,137
up €2,137 (+108.8%), from €1,965 to €4,102
- Financial income +€340
up €340 (+122.4%), from €277 to €617
- Other operating charges +€174
up €174 (+51.2%), from €340 to €514
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 | €37,777 | €51,162 | +€13,385 | +35.4% |
| Fixed assets | 21/28 | €2,976 | €1,437 | -€1,539 | -51.7% |
| Tangible fixed assets | 22/27 | €2,976 | €1,437 | -€1,539 | -51.7% |
| Plant, machinery and equipment | 23 | €878 | €601 | -€277 | -31.6% |
| Furniture and vehicles | 24 | €2,098 | €836 | -€1,262 | -60.2% |
| Current assets | 29/58 | €34,801 | €49,726 | +€14,925 | +42.9% |
| Amounts receivable within one year | 40/41 | €21,135 | €46,707 | +€25,572 | +121.0% |
| Trade receivables | 40 | €15,428 | €30,341 | +€14,913 | +96.7% |
| Other amounts receivable | 41 | €5,708 | €16,366 | +€10,658 | +186.7% |
| Current investments | 50/53 | €220 | €0 | -€220 | -100.0% |
| Cash at bank and in hand | 54/58 | €13,446 | €1,357 | -€12,089 | -89.9% |
| Deferred charges and accrued income | 490/1 | €0 | €1,662 | +€1,662 | |
| Total equity and liabilities | 10/49 | €37,777 | €51,162 | +€13,385 | +35.4% |
| Equity | 10/15 | €25,514 | €15,673 | -€9,841 | -38.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €20,514 | €10,673 | -€9,841 | -48.0% |
| Distributable reserves | 133 | €20,514 | €10,673 | -€9,841 | -48.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €12,263 | €35,489 | +€23,226 | +189.4% |
| Amounts payable within one year | 42/48 | €12,263 | €35,489 | +€23,226 | +189.4% |
| Trade debts | 44 | €1,706 | €2,217 | +€511 | +29.9% |
| Suppliers | 440/4 | €1,706 | €2,217 | +€511 | +29.9% |
| Taxes, remuneration and social security | 45 | €10,556 | €13,272 | +€2,715 | +25.7% |
| Taxes | 450/3 | €10,556 | €13,272 | +€2,715 | +25.7% |
| Other amounts payable | 47/48 | - | €20,000 | +€20,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,539 | €1,539 | = | 0.0% |
| Other operating charges | 640/8 | €340 | €514 | +€174 | +51.2% |
| Gross operating margin | 9900 | €3,579 | €16,137 | +€12,558 | +350.9% |
| Operating profit (loss) | 9901 | €1,699 | €14,083 | +€12,384 | +728.9% |
| Financial income | 75/76B | €277 | €617 | +€340 | +122.4% |
| Recurring financial income | 75 | €277 | €617 | +€340 | +122.4% |
| Financial charges | 65/66B | €408 | €439 | +€31 | +7.5% |
| Recurring financial charges | 65 | €408 | €439 | +€31 | +7.5% |
| Profit (loss) for the period before taxes | 9903 | €1,568 | €14,261 | +€12,693 | +809.4% |
| Income taxes | 67/77 | €1,965 | €4,102 | +€2,137 | +108.8% |
| Profit (loss) for the period | 9904 | -€397 | €10,159 | +€10,556 | |
| Profit (loss) for the period to be appropriated | 9905 | -€397 | €10,159 | +€10,556 |
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 10 October 2026 via checked.be.