MEEUWS: 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.
MEEUWS
Largest movements
- Current investments +€67,982
up €67,982 (+61.6%), from €110,390 to €178,372
- Cash -€28,660
down €28,660 (-56.0%), from €51,220 to €22,559
mainly Current investments (-€67,982) and Tax, wage and social debts (-€23,043)
- Tangible fixed assets -€11,056
down €11,056 (-43.9%), from €25,185 to €14,129
of which Furniture and vehicles: -€9,670
- Reserves +€55,618
up €55,618 (+42.5%), from €130,721 to €186,339
- Tax, wage and social debts -€23,043
down €23,043 (-41.4%), from €55,695 to €32,652
of which Taxes: -€24,535
- Trade debts -€6,023
down €6,023 (-68.2%), from €8,829 to €2,805
- Gross operating margin +€22,525
up €22,525 (+19.1%), from €117,807 to €140,331
- Taxes +€5,938
up €5,938 (+46.6%), from €12,734 to €18,672
- Depreciation +€1,628
up €1,628 (+17.3%), from €9,429 to €11,056
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 | €202,739 | €229,219 | +€26,480 | +13.1% |
| Fixed assets | 21/28 | €25,185 | €14,129 | -€11,056 | -43.9% |
| Tangible fixed assets | 22/27 | €25,185 | €14,129 | -€11,056 | -43.9% |
| Plant, machinery and equipment | 23 | €1,200 | €0 | -€1,200 | -100% |
| Furniture and vehicles | 24 | €22,184 | €12,514 | -€9,670 | -43.6% |
| Other tangible fixed assets | 26 | €1,801 | €1,615 | -€186 | -10.3% |
| Current assets | 29/58 | €177,553 | €215,090 | +€37,537 | +21.1% |
| Stocks and contracts in progress | 3 | €1,386 | €1,303 | -€83 | -6.0% |
| Stocks | 30/36 | €1,386 | €1,303 | -€83 | -6.0% |
| Amounts receivable within one year | 40/41 | €7,391 | €6,484 | -€907 | -12.3% |
| Trade receivables | 40 | €7,391 | €5,546 | -€1,845 | -25.0% |
| Other amounts receivable | 41 | - | €938 | +€938 | |
| Current investments | 50/53 | €110,390 | €178,372 | +€67,982 | +61.6% |
| Cash at bank and in hand | 54/58 | €51,220 | €22,559 | -€28,660 | -56.0% |
| Deferred charges and accrued income | 490/1 | €7,166 | €6,371 | -€795 | -11.1% |
| Total equity and liabilities | 10/49 | €202,739 | €229,219 | +€26,480 | +13.1% |
| Equity | 10/15 | €135,721 | €191,339 | +€55,618 | +41.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €130,721 | €186,339 | +€55,618 | +42.5% |
| Distributable reserves | 133 | €130,721 | €186,339 | +€55,618 | +42.5% |
| Amounts payable | 17/49 | €67,018 | €37,880 | -€29,138 | -43.5% |
| Amounts payable within one year | 42/48 | €67,018 | €37,880 | -€29,138 | -43.5% |
| Trade debts | 44 | €8,829 | €2,805 | -€6,023 | -68.2% |
| Suppliers | 440/4 | €8,829 | €2,805 | -€6,023 | -68.2% |
| Taxes, remuneration and social security | 45 | €55,695 | €32,652 | -€23,043 | -41.4% |
| Taxes | 450/3 | €55,695 | €31,160 | -€24,535 | -44.1% |
| Remuneration and social security | 454/9 | - | €1,492 | +€1,492 | |
| Other amounts payable | 47/48 | €2,494 | €2,422 | -€72 | -2.9% |
| Non-recurring operating income | 76A | €2,000 | €0 | -€2,000 | -100% |
| Remuneration, social security and pensions | 62 | €55,605 | €54,516 | -€1,090 | -2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,429 | €11,056 | +€1,628 | +17.3% |
| Other operating charges | 640/8 | €1,010 | €1,062 | +€52 | +5.1% |
| Gross operating margin | 9900 | €117,807 | €140,331 | +€22,525 | +19.1% |
| Operating profit (loss) | 9901 | €51,763 | €73,697 | +€21,935 | +42.4% |
| Financial income | 75/76B | €520 | €674 | +€154 | +29.7% |
| Recurring financial income | 75 | €520 | €674 | +€154 | +29.7% |
| Financial charges | 65/66B | €74 | €81 | +€7 | +10.2% |
| Recurring financial charges | 65 | €74 | €81 | +€7 | +10.2% |
| Profit (loss) for the period before taxes | 9903 | €52,209 | €74,290 | +€22,082 | +42.3% |
| Income taxes | 67/77 | €12,734 | €18,672 | +€5,938 | +46.6% |
| Profit (loss) for the period | 9904 | €39,474 | €55,618 | +€16,144 | +40.9% |
| Profit (loss) for the period to be appropriated | 9905 | €39,474 | €55,618 | +€16,144 | +40.9% |
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 15 October 2026 via checked.be.