MEO: 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.
MEO
Largest movements
- Cash -€23,763
down €23,763 (-32.7%), from €72,625 to €48,861
mainly Contributions, distributions and other (-€35,500) and Other debts (-€8,930)
- Receivables within one year +€3,442
up €3,442 (+2546.8%), from €135 to €3,577
- Tangible fixed assets -€943
down €943 (-44.5%), from €2,119 to €1,176
- Reserves -€16,522
down €16,522 (-66.6%), from €24,823 to €8,301
- Other debts -€8,930
down €8,930 (-22.8%), from €39,251 to €30,321
- Tax, wage and social debts +€3,534
up €3,534 (+43.9%), from €8,051 to €11,585
- Gross operating margin -€35,030
down €35,030 (-55.5%), from €63,084 to €28,054
- Taxes -€10,441
down €10,441 (-61.9%), from €16,865 to €6,423
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 | €76,108 | €53,669 | -€22,439 | -29.5% |
| Formation expenses | 20 | €519 | €0 | -€519 | -100.0% |
| Fixed assets | 21/28 | €2,119 | €1,176 | -€943 | -44.5% |
| Tangible fixed assets | 22/27 | €2,119 | €1,176 | -€943 | -44.5% |
| Furniture and vehicles | 24 | €2,119 | €1,176 | -€943 | -44.5% |
| Current assets | 29/58 | €73,470 | €52,494 | -€20,977 | -28.6% |
| Amounts receivable within one year | 40/41 | €135 | €3,577 | +€3,442 | +2546.8% |
| Other amounts receivable | 41 | €135 | €3,577 | +€3,442 | +2546.8% |
| Cash at bank and in hand | 54/58 | €72,625 | €48,861 | -€23,763 | -32.7% |
| Deferred charges and accrued income | 490/1 | €710 | €56 | -€655 | -92.2% |
| Total equity and liabilities | 10/49 | €76,108 | €53,669 | -€22,439 | -29.5% |
| Equity | 10/15 | €26,323 | €9,801 | -€16,522 | -62.8% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €24,823 | €8,301 | -€16,522 | -66.6% |
| Distributable reserves | 133 | €24,823 | €8,301 | -€16,522 | -66.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €49,786 | €43,869 | -€5,917 | -11.9% |
| Amounts payable within one year | 42/48 | €49,786 | €43,869 | -€5,917 | -11.9% |
| Trade debts | 44 | €2,484 | €1,962 | -€521 | -21.0% |
| Suppliers | 440/4 | €2,484 | €1,962 | -€521 | -21.0% |
| Taxes, remuneration and social security | 45 | €8,051 | €11,585 | +€3,534 | +43.9% |
| Taxes | 450/3 | €8,051 | €11,585 | +€3,534 | +43.9% |
| Other amounts payable | 47/48 | €39,251 | €30,321 | -€8,930 | -22.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,641 | €1,462 | -€178 | -10.9% |
| Other operating charges | 640/8 | €783 | €752 | -€31 | -4.0% |
| Gross operating margin | 9900 | €63,084 | €28,054 | -€35,030 | -55.5% |
| Operating profit (loss) | 9901 | €60,660 | €25,839 | -€34,821 | -57.4% |
| Financial income | 75/76B | €2 | €3 | +€1 | +40.6% |
| Recurring financial income | 75 | €2 | €3 | +€1 | +40.6% |
| Financial charges | 65/66B | €413 | €441 | +€27 | +6.6% |
| Recurring financial charges | 65 | €413 | €441 | +€27 | +6.6% |
| Profit (loss) for the period before taxes | 9903 | €60,249 | €25,402 | -€34,847 | -57.8% |
| Income taxes | 67/77 | €16,865 | €6,423 | -€10,441 | -61.9% |
| Profit (loss) for the period | 9904 | €43,384 | €18,978 | -€24,406 | -56.3% |
| Profit (loss) for the period to be appropriated | 9905 | €43,384 | €18,978 | -€24,406 | -56.3% |
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 7 October 2026 via checked.be.