MERAP: 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.
MERAP
Largest movements
- Tangible fixed assets -€11,179
down €11,179 (-4.1%), from €270,163 to €258,984
- Debts after one year -€30,000
no longer reported in 2025 (was €30,000)
- Other debts +€28,647
up €28,647 (+10.8%), from €264,727 to €293,374
- Profit (loss) carried forward -€6,277
down €6,277 (-2.2%), from -€285,091 to -€291,369
- Gross operating margin +€1,300
up €1,300 (+19.5%), from €6,664 to €7,964
- Financial charges -€454
down €454 (-84.8%), from €536 to €82
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.
Derived cash bridge
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 | €270,177 | €260,156 | -€10,021 | -3.7% |
| Fixed assets | 21/28 | €270,163 | €258,984 | -€11,179 | -4.1% |
| Tangible fixed assets | 22/27 | €270,163 | €258,984 | -€11,179 | -4.1% |
| Land and buildings | 22 | €270,163 | €258,984 | -€11,179 | -4.1% |
| Current assets | 29/58 | €14 | €1,171 | +€1,157 | +8,261% |
| Cash at bank and in hand | 54/58 | €14 | €1,171 | +€1,157 | +8,261% |
| Total equity and liabilities | 10/49 | €270,177 | €260,156 | -€10,021 | -3.7% |
| Equity | 10/15 | -€28,891 | -€35,169 | -€6,277 | -21.7% |
| Contributions | 10/11 | €256,200 | €256,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€285,091 | -€291,369 | -€6,277 | -2.2% |
| Amounts payable | 17/49 | €299,068 | €295,324 | -€3,744 | -1.3% |
| Amounts payable after more than one year | 17 | €30,000 | - | -€30,000 | |
| Financial debts | 170/4 | €30,000 | - | -€30,000 | |
| Amounts payable within one year | 42/48 | €266,227 | €294,874 | +€28,647 | +10.8% |
| Trade debts | 44 | €1,500 | €1,500 | = | 0.0% |
| Suppliers | 440/4 | €1,500 | €1,500 | = | 0.0% |
| Other amounts payable | 47/48 | €264,727 | €293,374 | +€28,647 | +10.8% |
| Accrued charges and deferred income | 492/3 | €2,841 | €450 | -€2,391 | -84.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,165 | €11,179 | +€14 | +0.1% |
| Other operating charges | 640/8 | €2,937 | €2,981 | +€44 | +1.5% |
| Gross operating margin | 9900 | €6,664 | €7,964 | +€1,300 | +19.5% |
| Operating profit (loss) | 9901 | -€7,438 | -€6,196 | +€1,242 | +16.7% |
| Financial charges | 65/66B | €536 | €82 | -€454 | -84.8% |
| Recurring financial charges | 65 | €536 | €82 | -€454 | -84.8% |
| Profit (loss) for the period before taxes | 9903 | -€7,974 | -€6,277 | +€1,696 | +21.3% |
| Profit (loss) for the period | 9904 | -€7,974 | -€6,277 | +€1,696 | +21.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,974 | -€6,277 | +€1,696 | +21.3% |
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 13 October 2026 via checked.be.