MERISIERS JV: what changed
MERISIERS JV
Largest movements
- Tangible fixed assets +€452,958
up €452,958 (+246%), from €184,221 to €637,179
of which Other tangible fixed assets: +€595,022
- Cash -€253,977
down €253,977 (-95.7%), from €265,453 to €11,476
mainly Investment in fixed assets (net) (-€498,357) and Net result for the year (-€100,588)
- Receivables within one year -€85,337
down €85,337 (-78.1%), from €109,313 to €23,976
of which Trade receivables: -€73,870
- Intangible fixed assets +€7,991
new in 2025: €7,991
- Other debts +€233,862
up €233,862 (+83.7%), from €279,541 to €513,403
- Profit (loss) carried forward -€100,588
down €100,588 (-243%), from -€41,406 to -€141,994
- Debts after one year -€75,898
down €75,898 (-37.2%), from €204,289 to €128,391
- Trade debts +€44,944
up €44,944 (+253%), from €17,741 to €62,685
- Tax, wage and social debts +€10,962
new in 2025: €10,962
- Gross operating margin +€95,130
up €95,130, from -€30,191 to €64,940
- Staff costs +€88,610
new in 2025: €88,610
- Depreciation +€35,848
new in 2025: €35,848
- Financial charges +€23,851
up €23,851 (+336%), from €7,108 to €30,959
- Other operating charges +€6,112
up €6,112 (+149%), from €4,107 to €10,219
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €559,876 | €683,875 | +€123,999 | +22.1% |
| Fixed assets | 21/28 | €184,221 | €646,731 | +€462,510 | +251% |
| Intangible fixed assets | 21 | - | €7,991 | +€7,991 | |
| Tangible fixed assets | 22/27 | €184,221 | €637,179 | +€452,958 | +246% |
| Plant, machinery and equipment | 23 | - | €12,407 | +€12,407 | |
| Furniture and vehicles | 24 | - | €29,750 | +€29,750 | |
| Other tangible fixed assets | 26 | - | €595,022 | +€595,022 | |
| Assets under construction and advance payments | 27 | €184,221 | €0 | -€184,221 | -100% |
| Financial fixed assets | 28 | - | €1,560 | +€1,560 | |
| Current assets | 29/58 | €375,655 | €37,145 | -€338,510 | -90.1% |
| Amounts receivable within one year | 40/41 | €109,313 | €23,976 | -€85,337 | -78.1% |
| Trade receivables | 40 | €74,923 | €1,053 | -€73,870 | -98.6% |
| Other amounts receivable | 41 | €34,390 | €22,923 | -€11,467 | -33.3% |
| Cash at bank and in hand | 54/58 | €265,453 | €11,476 | -€253,977 | -95.7% |
| Deferred charges and accrued income | 490/1 | €889 | €1,692 | +€803 | +90.3% |
| Total equity and liabilities | 10/49 | €559,876 | €683,875 | +€123,999 | +22.1% |
| Equity | 10/15 | -€37,406 | -€137,994 | -€100,588 | -269% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€41,406 | -€141,994 | -€100,588 | -243% |
| Amounts payable | 17/49 | €597,282 | €821,869 | +€224,588 | +37.6% |
| Amounts payable after more than one year | 17 | €204,289 | €128,391 | -€75,898 | -37.2% |
| Financial debts | 170/4 | €204,289 | €128,391 | -€75,898 | -37.2% |
| Amounts payable within one year | 42/48 | €392,993 | €693,478 | +€300,486 | +76.5% |
| Current portion of amounts payable after more than one year | 42 | €95,711 | €106,429 | +€10,718 | +11.2% |
| Trade debts | 44 | €17,741 | €62,685 | +€44,944 | +253% |
| Suppliers | 440/4 | €17,741 | €62,685 | +€44,944 | +253% |
| Taxes, remuneration and social security | 45 | - | €10,962 | +€10,962 | |
| Remuneration and social security | 454/9 | - | €10,962 | +€10,962 | |
| Other amounts payable | 47/48 | €279,541 | €513,403 | +€233,862 | +83.7% |
| Remuneration, social security and pensions | 62 | - | €88,610 | +€88,610 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €35,848 | +€35,848 | |
| Other operating charges | 640/8 | €4,107 | €10,219 | +€6,112 | +149% |
| Gross operating margin | 9900 | -€30,191 | €64,940 | +€95,130 | |
| Operating profit (loss) | 9901 | -€34,298 | -€69,737 | -€35,439 | -103% |
| Financial income | 75/76B | - | €107 | +€107 | |
| Recurring financial income | 75 | - | €107 | +€107 | |
| Financial charges | 65/66B | €7,108 | €30,959 | +€23,851 | +336% |
| Recurring financial charges | 65 | €7,108 | €30,959 | +€23,851 | +336% |
| Profit (loss) for the period before taxes | 9903 | -€41,406 | -€100,588 | -€59,183 | -143% |
| Profit (loss) for the period | 9904 | -€41,406 | -€100,588 | -€59,183 | -143% |
| Profit (loss) for the period to be appropriated | 9905 | -€41,406 | -€100,588 | -€59,183 | -143% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.