MERIDIES: 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.
MERIDIES
Largest movements
- Receivables within one year +€258,733
up €258,733 (+109%), from €238,234 to €496,967
- Deferred charges and accrued income -€203,502
down €203,502 (-80.1%), from €254,179 to €50,677
- Tangible fixed assets -€91,887
down €91,887 (-9.1%), from €1.0m to €920,369
- Debts after one year -€110,991
down €110,991 (-36.0%), from €308,333 to €197,342
- Reserves +€67,800
up €67,800 (+6.9%), from €975,959 to €1.0m
of which Distributable reserves: +€67,800
- Financial income -€202,035
down €202,035 (-79.7%), from €253,405 to €51,369
- Gross operating margin +€38,994
up €38,994 (+75.8%), from €51,473 to €90,467
- Taxes -€13,930
down €13,930 (-65.0%), from €21,418 to €7,489
- Other operating charges -€2,462
down €2,462 (-38.5%), from €6,387 to €3,925
- Staff costs -€2,197
down €2,197 (-24.1%), from €9,116 to €6,919
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 | €1,989,957 | €1,943,471 | -€46,486 | -2.3% |
| Fixed assets | 21/28 | €1,322,256 | €1,230,369 | -€91,887 | -6.9% |
| Tangible fixed assets | 22/27 | €1,012,256 | €920,369 | -€91,887 | -9.1% |
| Land and buildings | 22 | €1,012,256 | €920,369 | -€91,887 | -9.1% |
| Financial fixed assets | 28 | €310,000 | €310,000 | = | 0.0% |
| Current assets | 29/58 | €667,701 | €713,102 | +€45,400 | +6.8% |
| Amounts receivable within one year | 40/41 | €238,234 | €496,967 | +€258,733 | +109% |
| Other amounts receivable | 41 | €238,234 | €496,967 | +€258,733 | +109% |
| Current investments | 50/53 | €110,000 | €110,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €65,288 | €55,457 | -€9,831 | -15.1% |
| Deferred charges and accrued income | 490/1 | €254,179 | €50,677 | -€203,502 | -80.1% |
| Total equity and liabilities | 10/49 | €1,989,957 | €1,943,471 | -€46,486 | -2.3% |
| Equity | 10/15 | €1,037,959 | €1,105,758 | +€67,800 | +6.5% |
| 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 | €975,959 | €1,043,758 | +€67,800 | +6.9% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €969,759 | €1,037,558 | +€67,800 | +7.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €951,998 | €837,712 | -€114,286 | -12.0% |
| Amounts payable after more than one year | 17 | €308,333 | €197,342 | -€110,991 | -36.0% |
| Financial debts | 170/4 | €308,333 | €197,342 | -€110,991 | -36.0% |
| Amounts payable within one year | 42/48 | €643,666 | €639,590 | -€4,075 | -0.6% |
| Current portion of amounts payable after more than one year | 42 | €30,864 | €19,269 | -€11,595 | -37.6% |
| Financial debts | 43 | €0 | €13,959 | +€13,959 | |
| Credit institutions | 430/8 | €0 | €13,959 | +€13,959 | |
| Trade debts | 44 | €10,888 | €4,168 | -€6,721 | -61.7% |
| Suppliers | 440/4 | €10,888 | €4,168 | -€6,721 | -61.7% |
| Taxes, remuneration and social security | 45 | €24,202 | €21,418 | -€2,783 | -11.5% |
| Taxes | 450/3 | €24,202 | €21,418 | -€2,783 | -11.5% |
| Other amounts payable | 47/48 | €577,711 | €580,777 | +€3,066 | +0.5% |
| Accrued charges and deferred income | 492/3 | - | €780 | +€780 | |
| Non-recurring operating income | 76A | €603 | €44,000 | +€43,397 | +7,194% |
| Remuneration, social security and pensions | 62 | €9,116 | €6,919 | -€2,197 | -24.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,880 | €46,887 | +€6 | 0.0% |
| Other operating charges | 640/8 | €6,387 | €3,925 | -€2,462 | -38.5% |
| Gross operating margin | 9900 | €51,473 | €90,467 | +€38,994 | +75.8% |
| Operating profit (loss) | 9901 | -€10,910 | €32,736 | +€43,646 | |
| Financial income | 75/76B | €253,405 | €51,369 | -€202,035 | -79.7% |
| Recurring financial income | 75 | €253,405 | €51,369 | -€202,035 | -79.7% |
| Financial charges | 65/66B | €6,894 | €8,818 | +€1,924 | +27.9% |
| Recurring financial charges | 65 | €6,894 | €8,818 | +€1,924 | +27.9% |
| Profit (loss) for the period before taxes | 9903 | €235,602 | €75,288 | -€160,313 | -68.0% |
| Income taxes | 67/77 | €21,418 | €7,489 | -€13,930 | -65.0% |
| Profit (loss) for the period | 9904 | €214,183 | €67,800 | -€146,384 | -68.3% |
| Profit (loss) for the period to be appropriated | 9905 | €214,183 | €67,800 | -€146,384 | -68.3% |
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 19 October 2026 via checked.be.