Meir Corner: 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.
What changed
Meir Corner
NACE 68.121, Development of residential building projects
financial year 2023 against 2024filed annual accounts (NBB)
Net result for the year
-€238,623
2023 · -€5.4m+€5.1m
Equity
-€10.6m
2023 · -€10.4m-€238,623
Cash
€8,631
2023 · €48,812-€40,181
Balance sheet total
€68.9m
2023 · €59.3m+€9.5m
Largest movements
Assets
- Tangible fixed assets +€9.1m
up €9.1m (+15.4%), from €59.2m to €68.3m
of which Assets under construction and advance payments: +€6.4m
Equity and liabilities
- Current portion of long-term debt +€55.1m
new in 2024: €55.1m
- Debts after one year -€47.8m
down €47.8m (-100.0%), from €47.8m to €0
- Other debts +€2.9m
up €2.9m (+13.8%), from €21.1m to €24.0m
Income statement
- Depreciation -€5.3m
down €5.3m (-100.0%), from €5.3m to €0
- Gross operating margin -€430,876
down €430,876 (-48.2%), from €893,716 to €462,840
- Other operating charges -€224,917
down €224,917 (-73.5%), from €305,884 to €80,967
- Financial charges +€10,739
up €10,739 (+1.8%), from €609,758 to €620,497
From the 2023 result to the 2024 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 2023
-€5.4m
Gross operating margin
-€430,876
Depreciation
+€5.3m
Other operating charges
+€224,917
Other operating items
+€25
Financial charges
-€10,739
Result 2024
-€238,623
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€1.8m
Investment
-€9.1m
Financing
+€7.3m
Cash 2023
€48,812
From operations (derived)
+€1.8m
Net result for the year
-€238,623
Receivables within one year
-€456,455
Trade debts
-€439,566
Smaller working-capital items
+€2,677
Other debts
+€2.9m
Investment (derived)
-€9.1m
Investment in fixed assets (net)
-€9.1m
Financing
+€7.3m
Debts after one year
-€47.8m
Current portion of long-term debt
+€55.1m
Cash 2024
€8,631
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €59,339,924 | €68,861,970 | +€9.5m | +16.0% |
| Fixed assets | 21/28 | €59,186,593 | €68,292,365 | +€9.1m | +15.4% |
| Tangible fixed assets | 22/27 | €59,186,593 | €68,292,365 | +€9.1m | +15.4% |
| Land and buildings | 22 | €54,108,554 | €56,818,019 | +€2.7m | +5.0% |
| Assets under construction and advance payments | 27 | €5,078,039 | €11,474,346 | +€6.4m | +126.0% |
| Current assets | 29/58 | €153,330 | €569,605 | +€416,274 | +271.5% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €104,519 | €560,974 | +€456,455 | +436.7% |
| Trade receivables | 40 | €97,255 | €560,974 | +€463,719 | +476.8% |
| Other amounts receivable | 41 | €7,264 | €0 | -€7,264 | -100.0% |
| Cash at bank and in hand | 54/58 | €48,812 | €8,631 | -€40,181 | -82.3% |
| Total equity and liabilities | 10/49 | €59,339,924 | €68,861,970 | +€9.5m | +16.0% |
| Equity | 10/15 | -€10,351,442 | -€10,590,066 | -€238,623 | -2.3% |
| Contributions | 10/11 | €2,061,500 | €2,061,500 | = | 0.0% |
| Capital | 10 | €2,061,500 | €2,061,500 | = | 0.0% |
| Issued capital | 100 | €2,061,500 | €2,061,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,419,092 | -€12,657,716 | -€238,623 | -1.9% |
| Amounts payable | 17/49 | €69,691,366 | €79,452,035 | +€9.8m | +14.0% |
| Amounts payable after more than one year | 17 | €47,848,636 | €0 | -€47.8m | -100.0% |
| Financial debts | 170/4 | €47,848,636 | €0 | -€47.8m | -100.0% |
| Amounts payable within one year | 42/48 | €21,808,741 | €79,418,107 | +€57.6m | +264.2% |
| Current portion of amounts payable after more than one year | 42 | - | €55,128,824 | +€55.1m | |
| Trade debts | 44 | €708,384 | €268,818 | -€439,566 | -62.1% |
| Suppliers | 440/4 | €708,384 | €268,818 | -€439,566 | -62.1% |
| Taxes, remuneration and social security | 45 | - | €2,737 | +€2,737 | |
| Taxes | 450/3 | - | €2,737 | +€2,737 | |
| Other amounts payable | 47/48 | €21,100,357 | €24,017,728 | +€2.9m | +13.8% |
| Accrued charges and deferred income | 492/3 | €33,989 | €33,929 | -€60 | -0.2% |
| Non-recurring operating income | 76A | €510,585 | €314,070 | -€196,515 | -38.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,346,080 | €0 | -€5.3m | -100.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €305,884 | €80,967 | -€224,917 | -73.5% |
| Non-recurring operating charges | 66A | €25 | €0 | -€25 | -100.0% |
| Gross operating margin | 9900 | €893,716 | €462,840 | -€430,876 | -48.2% |
| Operating profit (loss) | 9901 | -€4,758,273 | €381,873 | +€5.1m | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €609,758 | €620,497 | +€10,739 | +1.8% |
| Recurring financial charges | 65 | €609,758 | €620,497 | +€10,739 | +1.8% |
| Profit (loss) for the period before taxes | 9903 | -€5,368,031 | -€238,623 | +€5.1m | +95.6% |
| Profit (loss) for the period | 9904 | -€5,368,031 | -€238,623 | +€5.1m | +95.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,368,031 | -€238,623 | +€5.1m | +95.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.