MEG Studio: 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.
MEG Studio
Largest movements
- Stocks and contracts +€131,207
up €131,207 (+19.8%), from €662,137 to €793,344
- Receivables within one year -€104,831
down €104,831 (-67.0%), from €156,453 to €51,622
- Cash +€74,483
up €74,483 (+1145.7%), from €6,501 to €80,984
mainly Other debts (+€168,807) and Receivables within one year (+€104,831)
- Other debts +€168,807
up €168,807 (+26.3%), from €643,065 to €811,872
- Profit (loss) carried forward -€68,099
new in 2025: -€68,099
- Trade debts +€37,590
up €37,590 (+172.0%), from €21,854 to €59,443
- Tax, wage and social debts -€36,819
down €36,819 (-86.3%), from €42,642 to €5,823
of which Taxes: -€28,535
- Gross operating margin -€171,459
down €171,459, from €159,577 to -€11,882
- Staff costs -€24,180
down €24,180 (-43.8%), from €55,173 to €30,993
- Taxes -€19,791
down €19,791 (-100.0%), from €19,791 to €0
- Depreciation +€3,833
up €3,833 (+36.2%), from €10,597 to €14,430
- Financial charges +€2,838
up €2,838 (+1082.1%), from €262 to €3,101
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 | €876,392 | €980,798 | +€104,406 | +11.9% |
| Fixed assets | 21/28 | €49,618 | €49,261 | -€357 | -0.7% |
| Tangible fixed assets | 22/27 | €49,245 | €48,888 | -€357 | -0.7% |
| Furniture and vehicles | 24 | €27,240 | €32,501 | +€5,261 | +19.3% |
| Other tangible fixed assets | 26 | €22,004 | €16,386 | -€5,618 | -25.5% |
| Financial fixed assets | 28 | €374 | €374 | = | 0.0% |
| Current assets | 29/58 | €826,774 | €931,537 | +€104,764 | +12.7% |
| Stocks and contracts in progress | 3 | €662,137 | €793,344 | +€131,207 | +19.8% |
| Stocks | 30/36 | €662,137 | €793,344 | +€131,207 | +19.8% |
| Amounts receivable within one year | 40/41 | €156,453 | €51,622 | -€104,831 | -67.0% |
| Trade receivables | 40 | €156,453 | €51,622 | -€104,831 | -67.0% |
| Cash at bank and in hand | 54/58 | €6,501 | €80,984 | +€74,483 | +1145.7% |
| Deferred charges and accrued income | 490/1 | €1,682 | €5,587 | +€3,905 | +232.2% |
| Total equity and liabilities | 10/49 | €876,392 | €980,798 | +€104,406 | +11.9% |
| Equity | 10/15 | €167,332 | €99,233 | -€68,099 | -40.7% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €137,332 | €137,332 | = | 0.0% |
| Distributable reserves | 133 | €137,332 | €137,332 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€68,099 | -€68,099 | |
| Amounts payable | 17/49 | €709,060 | €881,565 | +€172,505 | +24.3% |
| Amounts payable within one year | 42/48 | €707,560 | €877,138 | +€169,578 | +24.0% |
| Trade debts | 44 | €21,854 | €59,443 | +€37,590 | +172.0% |
| Suppliers | 440/4 | €21,854 | €59,443 | +€37,590 | +172.0% |
| Taxes, remuneration and social security | 45 | €42,642 | €5,823 | -€36,819 | -86.3% |
| Taxes | 450/3 | €34,358 | €5,823 | -€28,535 | -83.1% |
| Remuneration and social security | 454/9 | €8,284 | €0 | -€8,284 | -100.0% |
| Other amounts payable | 47/48 | €643,065 | €811,872 | +€168,807 | +26.3% |
| Accrued charges and deferred income | 492/3 | €1,500 | €4,427 | +€2,927 | +195.1% |
| Remuneration, social security and pensions | 62 | €55,173 | €30,993 | -€24,180 | -43.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,597 | €14,430 | +€3,833 | +36.2% |
| Other operating charges | 640/8 | €1,892 | €2,325 | +€433 | +22.9% |
| Non-recurring operating charges | 66A | - | €5,369 | +€5,369 | |
| Gross operating margin | 9900 | €159,577 | -€11,882 | -€171,459 | |
| Operating profit (loss) | 9901 | €91,915 | -€65,000 | -€156,915 | |
| Financial income | 75/76B | €4 | €2 | -€1 | -39.7% |
| Recurring financial income | 75 | €4 | €2 | -€1 | -39.7% |
| Financial charges | 65/66B | €262 | €3,101 | +€2,838 | +1082.1% |
| Recurring financial charges | 65 | €262 | €3,101 | +€2,838 | +1082.1% |
| Profit (loss) for the period before taxes | 9903 | €91,656 | -€68,099 | -€159,755 | |
| Income taxes | 67/77 | €19,791 | €0 | -€19,791 | -100.0% |
| Profit (loss) for the period | 9904 | €71,865 | -€68,099 | -€139,964 | |
| Profit (loss) for the period to be appropriated | 9905 | €71,865 | -€68,099 | -€139,964 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.