MEREP Light Industrial: 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.
MEREP Light Industrial
Largest movements
- Cash +€4.6m
up €4.6m (+5,938%), from €77,551 to €4.7m
mainly Contributions, distributions and other (+€7.0m) and Receivables within one year (+€365,593)
- Financial fixed assets +€1.2m
up €1.2m (+5.5%), from €21.3m to €22.5m
- Receivables within one year -€365,593
down €365,593 (-60.7%), from €602,726 to €237,133
of which Other amounts receivable: -€235,527
- Contributions +€7.0m
up €7.0m (+33.3%), from €21.0m to €28.0m
- Short-term financial debts -€1.2m
no longer reported in 2025 (was €1.2m)
- Financial charges +€665,693
up €665,693 (+223%), from €298,492 to €964,185
of which Non-recurring financial charges: +€863,673
- Gross operating margin -€132,632
down €132,632 (-32.8%), from -€404,092 to -€536,725
- Financial income +€16,701
up €16,701 (+1.3%), from €1.3m to €1.3m
of which Financial income: +€22,674
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 | €22,732,549 | €28,241,838 | +€5.5m | +24.2% |
| Formation expenses | 20 | €51,850 | €13,080 | -€38,770 | -74.8% |
| Fixed assets | 21/28 | €21,378,248 | €22,503,397 | +€1.1m | +5.3% |
| Tangible fixed assets | 22/27 | €41,720 | - | -€41,720 | |
| Assets under construction and advance payments | 27 | €41,720 | - | -€41,720 | |
| Financial fixed assets | 28 | €21,336,528 | €22,503,397 | +€1.2m | +5.5% |
| Current assets | 29/58 | €1,302,452 | €5,725,361 | +€4.4m | +340% |
| Amounts receivable within one year | 40/41 | €602,726 | €237,133 | -€365,593 | -60.7% |
| Trade receivables | 40 | €356,266 | €226,200 | -€130,066 | -36.5% |
| Other amounts receivable | 41 | €246,460 | €10,933 | -€235,527 | -95.6% |
| Cash at bank and in hand | 54/58 | €77,551 | €4,682,604 | +€4.6m | +5,938% |
| Deferred charges and accrued income | 490/1 | €622,175 | €805,625 | +€183,450 | +29.5% |
| Total equity and liabilities | 10/49 | €22,732,549 | €28,241,838 | +€5.5m | +24.2% |
| Equity | 10/15 | €21,374,789 | €28,103,318 | +€6.7m | +31.5% |
| Contributions | 10/11 | €21,000,000 | €28,000,000 | +€7.0m | +33.3% |
| Capital | 10 | €21,000,000 | - | -€21.0m | |
| Issued capital | 100 | €35,000,000 | - | -€35.0m | |
| Uncalled capital | 101 | €14,000,000 | - | -€14.0m | |
| Profit (loss) carried forward | 14 | €374,789 | €103,318 | -€271,471 | -72.4% |
| Amounts payable | 17/49 | €1,357,760 | €138,520 | -€1.2m | -89.8% |
| Amounts payable within one year | 42/48 | €1,351,729 | €138,276 | -€1.2m | -89.8% |
| Financial debts | 43 | €1,150,000 | - | -€1.2m | |
| Credit institutions | 430/8 | €1,150,000 | - | -€1.2m | |
| Trade debts | 44 | €201,729 | €138,276 | -€63,454 | -31.5% |
| Suppliers | 440/4 | €201,729 | €138,276 | -€63,454 | -31.5% |
| Accrued charges and deferred income | 492/3 | €6,030 | €245 | -€5,786 | -95.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,770 | €38,770 | = | 0.0% |
| Other operating charges | 640/8 | €378 | €799 | +€421 | +111% |
| Gross operating margin | 9900 | -€404,092 | -€536,725 | -€132,632 | -32.8% |
| Operating profit (loss) | 9901 | -€443,241 | -€576,294 | -€133,053 | -30.0% |
| Financial income | 75/76B | €1,252,306 | €1,269,007 | +€16,701 | +1.3% |
| Recurring financial income | 75 | €1,246,333 | €1,269,007 | +€22,674 | +1.8% |
| Non-recurring financial income | 76B | €5,973 | - | -€5,973 | |
| Financial charges | 65/66B | €298,492 | €964,185 | +€665,693 | +223% |
| Recurring financial charges | 65 | €298,492 | €100,512 | -€197,980 | -66.3% |
| Non-recurring financial charges | 66B | - | €863,673 | +€863,673 | |
| Profit (loss) for the period before taxes | 9903 | €510,573 | -€271,471 | -€782,045 | |
| Income taxes | 67/77 | -€3,181 | - | +€3,181 | |
| Profit (loss) for the period | 9904 | €513,754 | -€271,471 | -€785,225 | |
| Profit (loss) for the period to be appropriated | 9905 | €513,754 | -€271,471 | -€785,225 |
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 30 October 2026 via checked.be.