MERAKI: 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.
MERAKI
Largest movements
- Cash -€132,938
down €132,938 (-61.0%), from €217,963 to €85,025
mainly Debts after one year (-€179,635) and Investment in fixed assets (net) (-€158,426)
- Receivables within one year +€31,345
up €31,345 (+13.5%), from €232,283 to €263,628
of which Trade receivables: +€25,976
- Intangible fixed assets -€24,849
down €24,849 (-3.9%), from €632,188 to €607,339
- Tangible fixed assets -€12,655
down €12,655 (-19.8%), from €63,766 to €51,111
of which Furniture and vehicles: -€11,099
- Debts after one year -€179,635
down €179,635 (-33.1%), from €542,111 to €362,476
- Other debts +€60,810
up €60,810 (+23.8%), from €255,936 to €316,746
- Trade debts -€19,966
down €19,966 (-15.8%), from €126,038 to €106,073
- Gross operating margin +€157,445
up €157,445 (+20.3%), from €774,941 to €932,385
- Staff costs +€78,254
up €78,254 (+16.9%), from €461,991 to €540,245
- Depreciation +€26,016
up €26,016 (+15.3%), from €169,921 to €195,936
- Taxes +€19,195
up €19,195 (+217.7%), from €8,815 to €28,010
- Write-downs +€10,865
up €10,865, from €0 to €10,865
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 | €1,214,718 | €1,071,972 | -€142,746 | -11.8% |
| Formation expenses | 20 | €5 | €0 | -€5 | -100.0% |
| Fixed assets | 21/28 | €695,955 | €658,450 | -€37,504 | -5.4% |
| Intangible fixed assets | 21 | €632,188 | €607,339 | -€24,849 | -3.9% |
| Tangible fixed assets | 22/27 | €63,766 | €51,111 | -€12,655 | -19.8% |
| Furniture and vehicles | 24 | €60,989 | €49,889 | -€11,099 | -18.2% |
| Other tangible fixed assets | 26 | €2,777 | €1,222 | -€1,556 | -56.0% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €518,758 | €413,522 | -€105,236 | -20.3% |
| Stocks and contracts in progress | 3 | €17,206 | €16,564 | -€642 | -3.7% |
| Contracts in progress | 37 | €17,206 | €16,564 | -€642 | -3.7% |
| Amounts receivable within one year | 40/41 | €232,283 | €263,628 | +€31,345 | +13.5% |
| Trade receivables | 40 | €229,608 | €255,584 | +€25,976 | +11.3% |
| Other amounts receivable | 41 | €2,675 | €8,045 | +€5,369 | +200.7% |
| Cash at bank and in hand | 54/58 | €217,963 | €85,025 | -€132,938 | -61.0% |
| Deferred charges and accrued income | 490/1 | €51,306 | €48,304 | -€3,002 | -5.9% |
| Total equity and liabilities | 10/49 | €1,214,718 | €1,071,972 | -€142,746 | -11.8% |
| Equity | 10/15 | €21,174 | €21,174 | = | 0.0% |
| Contributions | 10/11 | €21,000 | €21,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €174 | €174 | = | 0.0% |
| Amounts payable | 17/49 | €1,193,543 | €1,050,797 | -€142,746 | -12.0% |
| Amounts payable after more than one year | 17 | €542,111 | €362,476 | -€179,635 | -33.1% |
| Financial debts | 170/4 | €542,111 | €362,476 | -€179,635 | -33.1% |
| Amounts payable within one year | 42/48 | €651,432 | €688,321 | +€36,889 | +5.7% |
| Current portion of amounts payable after more than one year | 42 | €187,624 | €181,704 | -€5,921 | -3.2% |
| Financial debts | 43 | €457 | €2,319 | +€1,861 | +407.0% |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | €457 | €2,319 | +€1,861 | +407.0% |
| Trade debts | 44 | €126,038 | €106,073 | -€19,966 | -15.8% |
| Suppliers | 440/4 | €126,038 | €106,073 | -€19,966 | -15.8% |
| Taxes, remuneration and social security | 45 | €81,376 | €81,480 | +€104 | +0.1% |
| Taxes | 450/3 | €32,494 | €27,983 | -€4,511 | -13.9% |
| Remuneration and social security | 454/9 | €48,882 | €53,497 | +€4,615 | +9.4% |
| Other amounts payable | 47/48 | €255,936 | €316,746 | +€60,810 | +23.8% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €461,991 | €540,245 | +€78,254 | +16.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €169,921 | €195,936 | +€26,016 | +15.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €10,865 | +€10,865 | |
| Other operating charges | 640/8 | €3,158 | €3,923 | +€764 | +24.2% |
| Non-recurring operating charges | 66A | €1,249 | €0 | -€1,249 | -100.0% |
| Gross operating margin | 9900 | €774,941 | €932,385 | +€157,445 | +20.3% |
| Operating profit (loss) | 9901 | €138,621 | €181,416 | +€42,795 | +30.9% |
| Financial income | 75/76B | €2,322 | €1,325 | -€998 | -43.0% |
| Recurring financial income | 75 | €2,322 | €1,325 | -€998 | -43.0% |
| Financial charges | 65/66B | €18,954 | €24,229 | +€5,275 | +27.8% |
| Recurring financial charges | 65 | €18,954 | €24,229 | +€5,275 | +27.8% |
| Profit (loss) for the period before taxes | 9903 | €121,990 | €158,512 | +€36,523 | +29.9% |
| Income taxes | 67/77 | €8,815 | €28,010 | +€19,195 | +217.7% |
| Profit (loss) for the period | 9904 | €113,174 | €130,502 | +€17,328 | +15.3% |
| Profit (loss) for the period to be appropriated | 9905 | €113,174 | €130,502 | +€17,328 | +15.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.