MERADEL: 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.
MERADEL
Largest movements
- Deferred charges and accrued income -€19,626
down €19,626 (-64.7%), from €30,327 to €10,701
- Tangible fixed assets -€5,379
down €5,379 (-3.6%), from €148,197 to €142,818
of which Land and buildings: -€7,334
- Debts after one year -€24,833
down €24,833 (-26.4%), from €93,896 to €69,063
- Other debts +€2,408
up €2,408 (+11.9%), from €20,276 to €22,684
- Tax, wage and social debts -€2,277
down €2,277 (-46.7%), from €4,880 to €2,603
- Taxes -€2,201
down €2,201 (-45.3%), from €4,864 to €2,662
- Financial charges -€443
down €443 (-7.1%), from €6,221 to €5,777
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 | €188,497 | €164,526 | -€23,971 | -12.7% |
| Fixed assets | 21/28 | €148,197 | €142,818 | -€5,379 | -3.6% |
| Tangible fixed assets | 22/27 | €148,197 | €142,818 | -€5,379 | -3.6% |
| Land and buildings | 22 | €48,091 | €40,757 | -€7,334 | -15.3% |
| Plant, machinery and equipment | 23 | €65,784 | €67,739 | +€1,955 | +3.0% |
| Other tangible fixed assets | 26 | €34,322 | €34,322 | = | 0.0% |
| Current assets | 29/58 | €40,299 | €21,708 | -€18,592 | -46.1% |
| Amounts receivable within one year | 40/41 | €9,057 | €9,057 | = | 0.0% |
| Trade receivables | 40 | €9,057 | €9,057 | = | 0.0% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €915 | €1,949 | +€1,034 | +113.0% |
| Deferred charges and accrued income | 490/1 | €30,327 | €10,701 | -€19,626 | -64.7% |
| Total equity and liabilities | 10/49 | €188,497 | €164,526 | -€23,971 | -12.7% |
| Equity | 10/15 | €34,555 | €35,059 | +€504 | +1.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€33,645 | -€33,141 | +€504 | +1.5% |
| Amounts payable | 17/49 | €153,941 | €129,467 | -€24,475 | -15.9% |
| Amounts payable after more than one year | 17 | €93,896 | €69,063 | -€24,833 | -26.4% |
| Financial debts | 170/4 | €93,896 | €69,063 | -€24,833 | -26.4% |
| Amounts payable within one year | 42/48 | €59,252 | €60,153 | +€902 | +1.5% |
| Current portion of amounts payable after more than one year | 42 | €29,670 | €29,670 | = | 0.0% |
| Trade debts | 44 | €4,425 | €5,197 | +€771 | +17.4% |
| Suppliers | 440/4 | €4,425 | €5,197 | +€771 | +17.4% |
| Taxes, remuneration and social security | 45 | €4,880 | €2,603 | -€2,277 | -46.7% |
| Taxes | 450/3 | €4,880 | €2,603 | -€2,277 | -46.7% |
| Other amounts payable | 47/48 | €20,276 | €22,684 | +€2,408 | +11.9% |
| Accrued charges and deferred income | 492/3 | €794 | €250 | -€544 | -68.5% |
| Turnover | 70 | €37,056 | €37,056 | = | 0.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €3,801 | €3,805 | +€4 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,324 | €8,099 | -€224 | -2.7% |
| Other operating charges | 640/8 | €2,496 | €2,518 | +€22 | +0.9% |
| Non-recurring operating charges | 66A | €6,714 | €13,692 | +€6,978 | +103.9% |
| Gross operating margin | 9900 | €33,255 | €33,251 | -€4 | 0.0% |
| Operating profit (loss) | 9901 | €15,722 | €8,943 | -€6,779 | -43.1% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €6,221 | €5,777 | -€443 | -7.1% |
| Recurring financial charges | 65 | €6,221 | €5,777 | -€443 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | €9,501 | €3,166 | -€6,335 | -66.7% |
| Income taxes | 67/77 | €4,864 | €2,662 | -€2,201 | -45.3% |
| Profit (loss) for the period | 9904 | €4,638 | €504 | -€4,134 | -89.1% |
| Profit (loss) for the period to be appropriated | 9905 | €4,638 | €504 | -€4,134 | -89.1% |
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 3 October 2026 via checked.be.