Meibo: 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.
What changed
Meibo
NACE 49.410, Freight transport by road
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€132,632
2024 · €231,231-€98,599
Equity
€1.1m
2024 · €998,546+€63,159
Cash
€178,711
2024 · €160,891+€17,821
Balance sheet total
€5.3m
2024 · €4.4m+€857,497
Largest movements
Assets
- Tangible fixed assets +€927,054
up €927,054 (+39.8%), from €2.3m to €3.3m
of which Land and buildings: +€1.3m
- Current investments -€187,292
down €187,292 (-93.6%), from €200,000 to €12,708
- Receivables within one year +€153,510
up €153,510 (+9.5%), from €1.6m to €1.8m
of which Trade receivables: +€165,362
Equity and liabilities
- Debts after one year +€807,494
up €807,494 (+64.1%), from €1.3m to €2.1m
- Trade debts -€341,643
down €341,643 (-35.0%), from €975,834 to €634,191
- Short-term financial debts +€193,083
up €193,083 (+35.7%), from €541,074 to €734,157
- Current portion of long-term debt +€86,944
up €86,944 (+16.9%), from €514,188 to €601,132
- Reserves +€63,159
up €63,159 (+6.4%), from €979,946 to €1.0m
Income statement
- Gross operating margin -€138,629
down €138,629 (-5.6%), from €2.5m to €2.4m
- Financial charges +€100,203
up €100,203 (+151.6%), from €66,109 to €166,313
- Depreciation -€53,343
down €53,343 (-6.5%), from €826,259 to €772,915
- Staff costs -€45,665
down €45,665 (-4.1%), from €1.1m 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.
Result 2024
€231,231
Gross operating margin
-€138,629
Staff costs
+€45,665
Depreciation
+€53,343
Write-downs
-€3,373
Other operating charges
-€16,943
Other operating items
+€39,305
Financial income
+€1,636
Financial charges
-€100,203
Taxes
+€20,601
Result 2025
€132,632
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.
From operations
+€483,963
Investment
-€1.5m
Financing
+€1.0m
Cash 2024
€160,891
From operations (derived)
+€483,963
Net result for the year
+€132,632
Depreciation
+€772,915
Receivables within one year
-€153,510
Deferred charges and accrued income
+€25,108
Trade debts
-€341,643
Tax, wage and social debts
+€50,819
Smaller working-capital items
-€2,359
Investment (derived)
-€1.5m
Investment in fixed assets (net)
-€1.7m
Current investments
+€187,292
Financing
+€1.0m
Debts after one year
+€807,494
Current portion of long-term debt
+€86,944
Short-term financial debts
+€193,083
Contributions, distributions and other
-€69,474
Cash 2025
€178,711
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,445,792 | €5,303,289 | +€857,497 | +19.3% |
| Fixed assets | 21/28 | €2,405,194 | €3,303,761 | +€898,566 | +37.4% |
| Intangible fixed assets | 21 | €75,393 | €47,103 | -€28,291 | -37.5% |
| Tangible fixed assets | 22/27 | €2,328,984 | €3,256,038 | +€927,054 | +39.8% |
| Land and buildings | 22 | €373,930 | €1,697,692 | +€1.3m | +354.0% |
| Plant, machinery and equipment | 23 | €145,611 | €96,868 | -€48,742 | -33.5% |
| Furniture and vehicles | 24 | €314,038 | €81,341 | -€232,697 | -74.1% |
| Leasing and similar rights | 25 | €1,464,395 | €1,355,054 | -€109,341 | -7.5% |
| Other tangible fixed assets | 26 | €31,010 | €25,083 | -€5,927 | -19.1% |
| Financial fixed assets | 28 | €818 | €620 | -€198 | -24.2% |
| Current assets | 29/58 | €2,040,597 | €1,999,528 | -€41,069 | -2.0% |
| Amounts receivable within one year | 40/41 | €1,622,160 | €1,775,670 | +€153,510 | +9.5% |
| Trade receivables | 40 | €1,561,930 | €1,727,293 | +€165,362 | +10.6% |
| Other amounts receivable | 41 | €60,229 | €48,377 | -€11,852 | -19.7% |
| Current investments | 50/53 | €200,000 | €12,708 | -€187,292 | -93.6% |
| Cash at bank and in hand | 54/58 | €160,891 | €178,711 | +€17,821 | +11.1% |
| Deferred charges and accrued income | 490/1 | €57,547 | €32,439 | -€25,108 | -43.6% |
| Total equity and liabilities | 10/49 | €4,445,792 | €5,303,289 | +€857,497 | +19.3% |
| Equity | 10/15 | €998,546 | €1,061,705 | +€63,159 | +6.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €979,946 | €1,043,105 | +€63,159 | +6.4% |
| Distributable reserves | 133 | €979,946 | €1,043,105 | +€63,159 | +6.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €3,447,246 | €4,241,584 | +€794,338 | +23.0% |
| Amounts payable after more than one year | 17 | €1,259,500 | €2,066,994 | +€807,494 | +64.1% |
| Financial debts | 170/4 | €1,259,500 | €2,066,994 | +€807,494 | +64.1% |
| Amounts payable within one year | 42/48 | €2,183,827 | €2,173,690 | -€10,137 | -0.5% |
| Current portion of amounts payable after more than one year | 42 | €514,188 | €601,132 | +€86,944 | +16.9% |
| Financial debts | 43 | €541,074 | €734,157 | +€193,083 | +35.7% |
| Credit institutions | 430/8 | €541,074 | €734,157 | +€193,083 | +35.7% |
| Trade debts | 44 | €975,834 | €634,191 | -€341,643 | -35.0% |
| Suppliers | 440/4 | €975,834 | €634,191 | -€341,643 | -35.0% |
| Taxes, remuneration and social security | 45 | €152,731 | €203,550 | +€50,819 | +33.3% |
| Taxes | 450/3 | €23,578 | €110,385 | +€86,807 | +368.2% |
| Remuneration and social security | 454/9 | €129,153 | €93,165 | -€35,988 | -27.9% |
| Other amounts payable | 47/48 | €0 | €660 | +€660 | |
| Accrued charges and deferred income | 492/3 | €3,919 | €900 | -€3,019 | -77.0% |
| Non-recurring operating income | 76A | €300,656 | €281,366 | -€19,290 | -6.4% |
| Remuneration, social security and pensions | 62 | €1,101,805 | €1,056,140 | -€45,665 | -4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €826,259 | €772,915 | -€53,343 | -6.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €8,747 | €12,121 | +€3,373 | +38.6% |
| Other operating charges | 640/8 | €31,409 | €48,352 | +€16,943 | +53.9% |
| Non-recurring operating charges | 66A | €151,758 | €112,453 | -€39,305 | -25.9% |
| Gross operating margin | 9900 | €2,496,798 | €2,358,169 | -€138,629 | -5.6% |
| Operating profit (loss) | 9901 | €376,820 | €356,188 | -€20,632 | -5.5% |
| Financial income | 75/76B | €146 | €1,781 | +€1,636 | +1123.6% |
| Recurring financial income | 75 | €146 | €1,781 | +€1,636 | +1123.6% |
| Financial charges | 65/66B | €66,109 | €166,313 | +€100,203 | +151.6% |
| Recurring financial charges | 65 | €66,109 | €166,313 | +€100,203 | +151.6% |
| Profit (loss) for the period before taxes | 9903 | €310,856 | €191,657 | -€119,199 | -38.3% |
| Income taxes | 67/77 | €79,625 | €59,024 | -€20,601 | -25.9% |
| Profit (loss) for the period | 9904 | €231,231 | €132,632 | -€98,599 | -42.6% |
| Profit (loss) for the period to be appropriated | 9905 | €231,231 | €132,632 | -€98,599 | -42.6% |
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 8 October 2026 via checked.be.