MERA: 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.
MERA
Largest movements
- Tangible fixed assets -€26,160
down €26,160 (-4.4%), from €587,931 to €561,772
of which Land and buildings: -€23,816
- Cash +€22,718
up €22,718 (+236%), from €9,645 to €32,363
mainly Trade debts (+€51,491) and Depreciation (+€30,605)
- Receivables within one year +€22,293
up €22,293 (+24.0%), from €92,819 to €115,111
of which Other amounts receivable: +€13,638
- Trade debts +€51,491
up €51,491 (+80.2%), from €64,175 to €115,665
- Debts after one year -€29,306
down €29,306 (-8.0%), from €365,367 to €336,061
- Other debts -€15,000
down €15,000 (-37.5%), from €40,000 to €25,000
- Reserves +€13,244
up €13,244 (+10.1%), from €130,484 to €143,728
- Gross operating margin -€81,072
down €81,072 (-41.5%), from €195,506 to €114,434
- Depreciation -€24,839
down €24,839 (-44.8%), from €55,444 to €30,605
- Taxes -€15,235
down €15,235 (-76.2%), from €19,992 to €4,757
- Staff costs +€13,859
up €13,859 (+53.1%), from €26,101 to €39,959
- Financial charges +€3,173
up €3,173 (+17.2%), from €18,414 to €21,587
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.
Derived cash bridge
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.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €690,447 | €709,455 | +€19,008 | +2.8% |
| Fixed assets | 21/28 | €587,931 | €561,772 | -€26,160 | -4.4% |
| Tangible fixed assets | 22/27 | €587,931 | €561,772 | -€26,160 | -4.4% |
| Land and buildings | 22 | €572,551 | €548,735 | -€23,816 | -4.2% |
| Plant, machinery and equipment | 23 | €15,380 | €13,037 | -€2,343 | -15.2% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €102,515 | €147,684 | +€45,168 | +44.1% |
| Amounts receivable within one year | 40/41 | €92,819 | €115,111 | +€22,293 | +24.0% |
| Trade receivables | 40 | €91,653 | €100,308 | +€8,654 | +9.4% |
| Other amounts receivable | 41 | €1,165 | €14,804 | +€13,638 | +1,170% |
| Cash at bank and in hand | 54/58 | €9,645 | €32,363 | +€22,718 | +236% |
| Deferred charges and accrued income | 490/1 | €52 | €210 | +€158 | +306% |
| Total equity and liabilities | 10/49 | €690,447 | €709,455 | +€19,008 | +2.8% |
| Equity | 10/15 | €149,084 | €162,328 | +€13,244 | +8.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €130,484 | €143,728 | +€13,244 | +10.1% |
| Distributable reserves | 133 | €130,484 | €143,728 | +€13,244 | +10.1% |
| Amounts payable | 17/49 | €541,363 | €547,127 | +€5,764 | +1.1% |
| Amounts payable after more than one year | 17 | €365,367 | €336,061 | -€29,306 | -8.0% |
| Financial debts | 170/4 | €365,367 | €336,061 | -€29,306 | -8.0% |
| Amounts payable within one year | 42/48 | €175,996 | €211,066 | +€35,070 | +19.9% |
| Financial debts | 43 | €29,370 | €29,306 | -€65 | -0.2% |
| Credit institutions | 430/8 | €29,370 | €29,306 | -€65 | -0.2% |
| Trade debts | 44 | €64,175 | €115,665 | +€51,491 | +80.2% |
| Suppliers | 440/4 | €64,175 | €115,665 | +€51,491 | +80.2% |
| Taxes, remuneration and social security | 45 | €42,451 | €41,095 | -€1,356 | -3.2% |
| Taxes | 450/3 | €40,962 | €36,366 | -€4,597 | -11.2% |
| Remuneration and social security | 454/9 | €1,489 | €4,729 | +€3,241 | +218% |
| Other amounts payable | 47/48 | €40,000 | €25,000 | -€15,000 | -37.5% |
| Non-recurring operating income | 76A | €8,196 | €11,569 | +€3,372 | +41.1% |
| Remuneration, social security and pensions | 62 | €26,101 | €39,959 | +€13,859 | +53.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,444 | €30,605 | -€24,839 | -44.8% |
| Other operating charges | 640/8 | €3,011 | €4,419 | +€1,408 | +46.8% |
| Non-recurring operating charges | 66A | - | €71 | +€71 | |
| Gross operating margin | 9900 | €195,506 | €114,434 | -€81,072 | -41.5% |
| Operating profit (loss) | 9901 | €110,950 | €39,379 | -€71,571 | -64.5% |
| Financial income | 75/76B | €52 | €210 | +€158 | +306% |
| Recurring financial income | 75 | €52 | €210 | +€158 | +306% |
| Financial charges | 65/66B | €18,414 | €21,587 | +€3,173 | +17.2% |
| Recurring financial charges | 65 | €18,414 | €21,587 | +€3,173 | +17.2% |
| Profit (loss) for the period before taxes | 9903 | €92,588 | €18,001 | -€74,586 | -80.6% |
| Income taxes | 67/77 | €19,992 | €4,757 | -€15,235 | -76.2% |
| Profit (loss) for the period | 9904 | €72,596 | €13,244 | -€59,351 | -81.8% |
| Profit (loss) for the period to be appropriated | 9905 | €72,596 | €13,244 | -€59,351 | -81.8% |
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 21 October 2026 via checked.be.