MERAXIS Belgium: 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.
MERAXIS Belgium
Largest movements
- Receivables within one year -€7,072
down €7,072 (-16.3%), from €43,381 to €36,308
of which Trade receivables: -€4,037
- Tangible fixed assets +€3,385
up €3,385 (+26.4%), from €12,807 to €16,192
of which Other tangible fixed assets: +€6,232
- Cash +€1,536
up €1,536 (+6.2%), from €24,781 to €26,317
mainly Depreciation (+€8,059) and Receivables within one year (+€7,072)
- Tax, wage and social debts -€4,790
down €4,790 (-9.5%), from €50,268 to €45,478
of which Remuneration and social security: -€4,790
- Trade debts +€3,920
up €3,920 (+58.1%), from €6,744 to €10,664
- Profit (loss) carried forward -€1,701
down €1,701 (-4.6%), from -€37,377 to -€39,079
- Short-term financial debts +€949
up €949, from €0 to €949
- Gross operating margin +€60,928
up €60,928 (+15.0%), from €405,899 to €466,827
- Staff costs +€17,454
up €17,454 (+4.0%), from €431,089 to €448,542
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 | €87,834 | €86,212 | -€1,623 | -1.8% |
| Fixed assets | 21/28 | €15,546 | €18,961 | +€3,415 | +22.0% |
| Tangible fixed assets | 22/27 | €12,807 | €16,192 | +€3,385 | +26.4% |
| Plant, machinery and equipment | 23 | €1,693 | €1,776 | +€83 | +4.9% |
| Furniture and vehicles | 24 | €5,610 | €2,680 | -€2,930 | -52.2% |
| Other tangible fixed assets | 26 | €5,504 | €11,736 | +€6,232 | +113% |
| Financial fixed assets | 28 | €2,739 | €2,769 | +€30 | +1.1% |
| Current assets | 29/58 | €72,289 | €67,251 | -€5,038 | -7.0% |
| Amounts receivable within one year | 40/41 | €43,381 | €36,308 | -€7,072 | -16.3% |
| Trade receivables | 40 | €32,396 | €28,359 | -€4,037 | -12.5% |
| Other amounts receivable | 41 | €10,985 | €7,950 | -€3,035 | -27.6% |
| Cash at bank and in hand | 54/58 | €24,781 | €26,317 | +€1,536 | +6.2% |
| Deferred charges and accrued income | 490/1 | €4,127 | €4,625 | +€499 | +12.1% |
| Total equity and liabilities | 10/49 | €87,834 | €86,212 | -€1,623 | -1.8% |
| Equity | 10/15 | €30,823 | €29,121 | -€1,701 | -5.5% |
| 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 | -€37,377 | -€39,079 | -€1,701 | -4.6% |
| Amounts payable | 17/49 | €57,012 | €57,091 | +€79 | +0.1% |
| Amounts payable within one year | 42/48 | €57,012 | €57,091 | +€79 | +0.1% |
| Financial debts | 43 | €0 | €949 | +€949 | |
| Credit institutions | 430/8 | €0 | €949 | +€949 | |
| Trade debts | 44 | €6,744 | €10,664 | +€3,920 | +58.1% |
| Suppliers | 440/4 | €6,744 | €10,664 | +€3,920 | +58.1% |
| Taxes, remuneration and social security | 45 | €50,268 | €45,478 | -€4,790 | -9.5% |
| Taxes | 450/3 | €893 | €893 | = | 0.0% |
| Remuneration and social security | 454/9 | €49,375 | €44,586 | -€4,790 | -9.7% |
| Remuneration, social security and pensions | 62 | €431,089 | €448,542 | +€17,454 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,712 | €8,059 | -€1,654 | -17.0% |
| Other operating charges | 640/8 | €2,697 | €2,821 | +€124 | +4.6% |
| Non-recurring operating charges | 66A | - | €1,983 | +€1,983 | |
| Gross operating margin | 9900 | €405,899 | €466,827 | +€60,928 | +15.0% |
| Operating profit (loss) | 9901 | -€37,600 | €5,421 | +€43,021 | |
| Financial income | 75/76B | €15 | €206 | +€191 | +1,288% |
| Recurring financial income | 75 | €15 | €206 | +€191 | +1,288% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €5,750 | €6,581 | +€831 | +14.5% |
| Recurring financial charges | 65 | €5,750 | €6,581 | +€831 | +14.5% |
| Profit (loss) for the period before taxes | 9903 | -€43,335 | -€954 | +€42,380 | +97.8% |
| Income taxes | 67/77 | €893 | €747 | -€146 | -16.3% |
| Profit (loss) for the period | 9904 | -€44,227 | -€1,701 | +€42,526 | +96.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€44,227 | -€1,701 | +€42,526 | +96.2% |
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 16 October 2026 via checked.be.