MEEUS et CO: 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 et CO
Largest movements
- Current investments -€60,312
down €60,312 (-30.0%), from €201,098 to €140,786
- Cash +€36,955
up €36,955 (+161%), from €22,907 to €59,862
mainly Current investments (+€60,312) and Trade debts (+€31,352)
- Tangible fixed assets -€8,252
down €8,252 (-17.4%), from €47,554 to €39,302
of which Furniture and vehicles: -€15,302
- Receivables within one year +€4,207
up €4,207 (+50.5%), from €8,325 to €12,532
of which Trade receivables: +€10,219
- Trade debts +€31,352
up €31,352 (+611%), from €5,128 to €36,480
- Accrued charges and deferred income -€20,940
down €20,940 (-21.8%), from €95,940 to €75,000
- Profit (loss) carried forward -€19,973
down €19,973 (-21.1%), from €94,735 to €74,762
- Tax, wage and social debts -€17,883
no longer reported in 2025 (was €17,883)
- Gross operating margin +€86,184
up €86,184 (+201%), from €42,818 to €129,002
- Financial income -€15,437
down €15,437 (-87.3%), from €17,678 to €2,242
- Staff costs -€8,202
down €8,202 (-5.7%), from €143,841 to €135,639
- Depreciation -€5,902
down €5,902 (-29.6%), from €19,964 to €14,062
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 | €282,094 | €254,591 | -€27,503 | -9.7% |
| Fixed assets | 21/28 | €47,702 | €39,450 | -€8,252 | -17.3% |
| Tangible fixed assets | 22/27 | €47,554 | €39,302 | -€8,252 | -17.4% |
| Furniture and vehicles | 24 | €47,554 | €32,252 | -€15,302 | -32.2% |
| Other tangible fixed assets | 26 | - | €6,678 | +€6,678 | |
| Assets under construction and advance payments | 27 | - | €372 | +€372 | |
| Financial fixed assets | 28 | €148 | €148 | = | 0.0% |
| Current assets | 29/58 | €234,392 | €215,141 | -€19,251 | -8.2% |
| Amounts receivable within one year | 40/41 | €8,325 | €12,532 | +€4,207 | +50.5% |
| Trade receivables | 40 | €981 | €11,200 | +€10,219 | +1,042% |
| Other amounts receivable | 41 | €7,345 | €1,332 | -€6,012 | -81.9% |
| Current investments | 50/53 | €201,098 | €140,786 | -€60,312 | -30.0% |
| Cash at bank and in hand | 54/58 | €22,907 | €59,862 | +€36,955 | +161% |
| Deferred charges and accrued income | 490/1 | €2,062 | €1,960 | -€102 | -4.9% |
| Total equity and liabilities | 10/49 | €282,094 | €254,591 | -€27,503 | -9.7% |
| Equity | 10/15 | €163,084 | €143,112 | -€19,973 | -12.2% |
| Contributions | 10/11 | €62,136 | €62,136 | = | 0.0% |
| Capital | 10 | €62,136 | €62,136 | = | 0.0% |
| Issued capital | 100 | €62,136 | €62,136 | = | 0.0% |
| Reserves | 13 | €6,214 | €6,214 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,214 | €6,214 | = | 0.0% |
| Legal reserve | 130 | €6,214 | €6,214 | = | 0.0% |
| Profit (loss) carried forward | 14 | €94,735 | €74,762 | -€19,973 | -21.1% |
| Amounts payable | 17/49 | €119,010 | €111,480 | -€7,531 | -6.3% |
| Amounts payable within one year | 42/48 | €23,070 | €36,480 | +€13,409 | +58.1% |
| Current portion of amounts payable after more than one year | 42 | €60 | - | -€60 | |
| Trade debts | 44 | €5,128 | €36,480 | +€31,352 | +611% |
| Suppliers | 440/4 | €5,128 | €36,480 | +€31,352 | +611% |
| Taxes, remuneration and social security | 45 | €17,883 | - | -€17,883 | |
| Remuneration and social security | 454/9 | €17,883 | - | -€17,883 | |
| Accrued charges and deferred income | 492/3 | €95,940 | €75,000 | -€20,940 | -21.8% |
| Remuneration, social security and pensions | 62 | €143,841 | €135,639 | -€8,202 | -5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,964 | €14,062 | -€5,902 | -29.6% |
| Other operating charges | 640/8 | €429 | €845 | +€415 | +96.7% |
| Gross operating margin | 9900 | €42,818 | €129,002 | +€86,184 | +201% |
| Operating profit (loss) | 9901 | -€121,416 | -€21,543 | +€99,873 | +82.3% |
| Financial income | 75/76B | €17,678 | €2,242 | -€15,437 | -87.3% |
| Recurring financial income | 75 | €17,678 | €2,242 | -€15,437 | -87.3% |
| Financial charges | 65/66B | €241 | €268 | +€27 | +11.0% |
| Recurring financial charges | 65 | €241 | €268 | +€27 | +11.0% |
| Profit (loss) for the period before taxes | 9903 | -€103,979 | -€19,569 | +€84,410 | +81.2% |
| Income taxes | 67/77 | €1,037 | €403 | -€634 | -61.1% |
| Profit (loss) for the period | 9904 | -€105,016 | -€19,973 | +€85,043 | +81.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€105,016 | -€19,973 | +€85,043 | +81.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.