MEREM: 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.
MEREM
Largest movements
- Cash -€18,293
down €18,293 (-57.1%), from €32,054 to €13,761
mainly Investment in fixed assets (net) (-€8,000) and Net result for the year (-€7,029)
- Tangible fixed assets +€6,182
up €6,182 (+412.1%), from €1,500 to €7,682
- Deferred charges and accrued income +€4,348
new in 2025: €4,348
- Receivables within one year +€3,792
up €3,792 (+76.4%), from €4,964 to €8,755
of which Trade receivables: +€4,363
- Reserves -€7,029
down €7,029 (-22.8%), from €30,887 to €23,858
- Other debts +€3,685
up €3,685 (+429.0%), from €859 to €4,544
- Tax, wage and social debts -€1,123
down €1,123 (-29.8%), from €3,772 to €2,649
- Trade debts +€496
new in 2025: €496
- Gross operating margin -€45,930
down €45,930, from €41,597 to -€4,333
- Taxes -€8,158
down €8,158 (-99.0%), from €8,242 to €85
- Depreciation +€619
up €619 (+51.7%), from €1,199 to €1,818
- Other operating charges +€536
up €536 (+386.4%), from €139 to €675
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 | €38,518 | €34,547 | -€3,971 | -10.3% |
| Fixed assets | 21/28 | €1,500 | €7,682 | +€6,182 | +412.1% |
| Tangible fixed assets | 22/27 | €1,500 | €7,682 | +€6,182 | +412.1% |
| Furniture and vehicles | 24 | €1,500 | €7,682 | +€6,182 | +412.1% |
| Current assets | 29/58 | €37,018 | €26,865 | -€10,153 | -27.4% |
| Amounts receivable within one year | 40/41 | €4,964 | €8,755 | +€3,792 | +76.4% |
| Trade receivables | 40 | €719 | €5,082 | +€4,363 | +606.4% |
| Other amounts receivable | 41 | €4,244 | €3,673 | -€571 | -13.5% |
| Cash at bank and in hand | 54/58 | €32,054 | €13,761 | -€18,293 | -57.1% |
| Deferred charges and accrued income | 490/1 | - | €4,348 | +€4,348 | |
| Total equity and liabilities | 10/49 | €38,518 | €34,547 | -€3,971 | -10.3% |
| Equity | 10/15 | €33,887 | €26,858 | -€7,029 | -20.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €30,887 | €23,858 | -€7,029 | -22.8% |
| Distributable reserves | 133 | €30,887 | €23,858 | -€7,029 | -22.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €4,631 | €7,689 | +€3,058 | +66.0% |
| Amounts payable within one year | 42/48 | €4,631 | €7,689 | +€3,058 | +66.0% |
| Trade debts | 44 | - | €496 | +€496 | |
| Suppliers | 440/4 | - | €496 | +€496 | |
| Taxes, remuneration and social security | 45 | €3,772 | €2,649 | -€1,123 | -29.8% |
| Taxes | 450/3 | €3,772 | €2,649 | -€1,123 | -29.8% |
| Other amounts payable | 47/48 | €859 | €4,544 | +€3,685 | +429.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,199 | €1,818 | +€619 | +51.7% |
| Other operating charges | 640/8 | €139 | €675 | +€536 | +386.4% |
| Gross operating margin | 9900 | €41,597 | -€4,333 | -€45,930 | |
| Operating profit (loss) | 9901 | €40,260 | -€6,826 | -€47,085 | |
| Financial income | 75/76B | €1 | €8 | +€7 | +1190.3% |
| Recurring financial income | 75 | €1 | €8 | +€7 | +1190.3% |
| Financial charges | 65/66B | €272 | €127 | -€145 | -53.3% |
| Recurring financial charges | 65 | €272 | €127 | -€145 | -53.3% |
| Profit (loss) for the period before taxes | 9903 | €39,988 | -€6,945 | -€46,933 | |
| Income taxes | 67/77 | €8,242 | €85 | -€8,158 | -99.0% |
| Profit (loss) for the period | 9904 | €31,746 | -€7,029 | -€38,776 | |
| Profit (loss) for the period to be appropriated | 9905 | €31,746 | -€7,029 | -€38,776 |
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 30 September 2026 via checked.be.