MEREO: 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.
MEREO
Largest movements
- Tangible fixed assets -€25,318
down €25,318 (-4.9%), from €519,765 to €494,447
of which Furniture and vehicles: -€18,046
- Cash +€19,746
up €19,746 (+35.4%), from €55,818 to €75,564
mainly Depreciation (+€64,666) and Net result for the year (+€41,732)
- Reserves +€41,732
up €41,732 (+37.4%), from €111,673 to €153,405
- Other debts -€30,254
down €30,254 (-27.1%), from €111,531 to €81,277
- Trade debts +€16,870
up €16,870 (+172.5%), from €9,782 to €26,652
- Debts after one year -€16,801
down €16,801 (-5.9%), from €283,724 to €266,923
- Tax, wage and social debts -€11,950
down €11,950 (-45.4%), from €26,336 to €14,386
of which Taxes: -€11,214
- Gross operating margin -€37,114
down €37,114 (-18.6%), from €199,346 to €162,232
- Taxes -€17,299
down €17,299 (-44.6%), from €38,827 to €21,527
- Depreciation +€13,875
up €13,875 (+27.3%), from €50,791 to €64,666
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 | €612,680 | €609,101 | -€3,578 | -0.6% |
| Fixed assets | 21/28 | €519,765 | €494,447 | -€25,318 | -4.9% |
| Tangible fixed assets | 22/27 | €519,765 | €494,447 | -€25,318 | -4.9% |
| Land and buildings | 22 | €449,494 | €441,506 | -€7,989 | -1.8% |
| Plant, machinery and equipment | 23 | €142 | €860 | +€717 | +503.5% |
| Furniture and vehicles | 24 | €70,128 | €52,082 | -€18,046 | -25.7% |
| Current assets | 29/58 | €92,915 | €114,654 | +€21,740 | +23.4% |
| Amounts receivable within one year | 40/41 | €34,681 | €37,883 | +€3,202 | +9.2% |
| Trade receivables | 40 | €28,052 | €25,080 | -€2,971 | -10.6% |
| Other amounts receivable | 41 | €6,629 | €12,803 | +€6,174 | +93.1% |
| Cash at bank and in hand | 54/58 | €55,818 | €75,564 | +€19,746 | +35.4% |
| Deferred charges and accrued income | 490/1 | €2,416 | €1,207 | -€1,209 | -50.0% |
| Total equity and liabilities | 10/49 | €612,680 | €609,101 | -€3,578 | -0.6% |
| Equity | 10/15 | €158,852 | €200,584 | +€41,732 | +26.3% |
| Contributions | 10/11 | €26,100 | €26,100 | = | 0.0% |
| Reserves | 13 | €111,673 | €153,405 | +€41,732 | +37.4% |
| Distributable reserves | 133 | €111,673 | €153,405 | +€41,732 | +37.4% |
| Profit (loss) carried forward | 14 | €21,079 | €21,079 | = | 0.0% |
| Amounts payable | 17/49 | €453,827 | €408,517 | -€45,310 | -10.0% |
| Amounts payable after more than one year | 17 | €283,724 | €266,923 | -€16,801 | -5.9% |
| Financial debts | 170/4 | €283,724 | €266,923 | -€16,801 | -5.9% |
| Amounts payable within one year | 42/48 | €167,624 | €139,116 | -€28,508 | -17.0% |
| Current portion of amounts payable after more than one year | 42 | €16,033 | €16,801 | +€768 | +4.8% |
| Trade debts | 44 | €9,782 | €26,652 | +€16,870 | +172.5% |
| Suppliers | 440/4 | €9,782 | €26,652 | +€16,870 | +172.5% |
| Advances received on contracts in progress | 46 | €3,942 | - | -€3,942 | |
| Taxes, remuneration and social security | 45 | €26,336 | €14,386 | -€11,950 | -45.4% |
| Taxes | 450/3 | €25,136 | €13,922 | -€11,214 | -44.6% |
| Remuneration and social security | 454/9 | €1,200 | €464 | -€736 | -61.4% |
| Other amounts payable | 47/48 | €111,531 | €81,277 | -€30,254 | -27.1% |
| Accrued charges and deferred income | 492/3 | €2,479 | €2,479 | = | 0.0% |
| Non-recurring operating income | 76A | €3,000 | - | -€3,000 | |
| Remuneration, social security and pensions | 62 | €6,088 | €6,332 | +€244 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,791 | €64,666 | +€13,875 | +27.3% |
| Other operating charges | 640/8 | €5,115 | €4,497 | -€618 | -12.1% |
| Gross operating margin | 9900 | €199,346 | €162,232 | -€37,114 | -18.6% |
| Operating profit (loss) | 9901 | €137,352 | €86,737 | -€50,615 | -36.9% |
| Financial income | 75/76B | €1 | €29 | +€28 | +4005.6% |
| Recurring financial income | 75 | €1 | €29 | +€28 | +4005.6% |
| Financial charges | 65/66B | €21,865 | €23,507 | +€1,642 | +7.5% |
| Recurring financial charges | 65 | €21,865 | €23,507 | +€1,642 | +7.5% |
| Profit (loss) for the period before taxes | 9903 | €115,488 | €63,259 | -€52,229 | -45.2% |
| Income taxes | 67/77 | €38,827 | €21,527 | -€17,299 | -44.6% |
| Profit (loss) for the period | 9904 | €76,661 | €41,732 | -€34,929 | -45.6% |
| Profit (loss) for the period to be appropriated | 9905 | €76,661 | €41,732 | -€34,929 | -45.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.