MERISTEM: 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.
MERISTEM
Largest movements
- Cash +€65,765
up €65,765 (+26.7%), from €246,591 to €312,356
mainly Other debts (+€246,815) and Net result for the year (+€76,203)
- Tangible fixed assets -€17,761
down €17,761 (-6.4%), from €278,055 to €260,294
of which Land and buildings: -€13,000
- Other debts +€246,815
up €246,815 (+376.2%), from €65,601 to €312,416
- Profit (loss) carried forward -€173,797
down €173,797 (-59.9%), from €290,366 to €116,570
- Tax, wage and social debts -€15,357
down €15,357 (-59.5%), from €25,803 to €10,447
- Debts after one year -€11,417
down €11,417 (-7.7%), from €147,856 to €136,438
No income-statement line moved by more than 1% of the activity.
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 | €543,339 | €589,840 | +€46,501 | +8.6% |
| Fixed assets | 21/28 | €278,718 | €260,957 | -€17,761 | -6.4% |
| Tangible fixed assets | 22/27 | €278,055 | €260,294 | -€17,761 | -6.4% |
| Land and buildings | 22 | €220,467 | €207,467 | -€13,000 | -5.9% |
| Plant, machinery and equipment | 23 | €55,463 | €49,881 | -€5,582 | -10.1% |
| Furniture and vehicles | 24 | €2,125 | €2,946 | +€821 | +38.6% |
| Financial fixed assets | 28 | €663 | €663 | = | 0.0% |
| Current assets | 29/58 | €264,621 | €328,883 | +€64,262 | +24.3% |
| Amounts receivable within one year | 40/41 | €17,585 | €16,527 | -€1,058 | -6.0% |
| Trade receivables | 40 | €17,585 | €16,371 | -€1,214 | -6.9% |
| Other amounts receivable | 41 | - | €156 | +€156 | |
| Cash at bank and in hand | 54/58 | €246,591 | €312,356 | +€65,765 | +26.7% |
| Deferred charges and accrued income | 490/1 | €446 | - | -€446 | |
| Total equity and liabilities | 10/49 | €543,339 | €589,840 | +€46,501 | +8.6% |
| Equity | 10/15 | €290,916 | €117,120 | -€173,797 | -59.7% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €50 | €50 | = | 0.0% |
| Distributable reserves | 133 | €50 | €50 | = | 0.0% |
| Profit (loss) carried forward | 14 | €290,366 | €116,570 | -€173,797 | -59.9% |
| Amounts payable | 17/49 | €252,423 | €472,720 | +€220,298 | +87.3% |
| Amounts payable after more than one year | 17 | €147,856 | €136,438 | -€11,417 | -7.7% |
| Financial debts | 170/4 | €147,856 | €136,438 | -€11,417 | -7.7% |
| Amounts payable within one year | 42/48 | €104,567 | €336,282 | +€231,715 | +221.6% |
| Current portion of amounts payable after more than one year | 42 | €11,247 | €11,417 | +€170 | +1.5% |
| Trade debts | 44 | €1,916 | €2,002 | +€86 | +4.5% |
| Suppliers | 440/4 | €1,916 | €2,002 | +€86 | +4.5% |
| Taxes, remuneration and social security | 45 | €25,803 | €10,447 | -€15,357 | -59.5% |
| Taxes | 450/3 | €25,803 | €10,447 | -€15,357 | -59.5% |
| Other amounts payable | 47/48 | €65,601 | €312,416 | +€246,815 | +376.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,472 | €21,309 | +€837 | +4.1% |
| Other operating charges | 640/8 | - | €326 | +€326 | |
| Gross operating margin | 9900 | €120,195 | €120,139 | -€56 | 0.0% |
| Operating profit (loss) | 9901 | €99,724 | €98,504 | -€1,219 | -1.2% |
| Financial income | 75/76B | €405 | €1,095 | +€689 | +170.0% |
| Recurring financial income | 75 | €405 | €1,095 | +€689 | +170.0% |
| Financial charges | 65/66B | €3,061 | €3,276 | +€215 | +7.0% |
| Recurring financial charges | 65 | €3,061 | €3,276 | +€215 | +7.0% |
| Profit (loss) for the period before taxes | 9903 | €97,068 | €96,323 | -€745 | -0.8% |
| Income taxes | 67/77 | €20,495 | €20,119 | -€376 | -1.8% |
| Profit (loss) for the period | 9904 | €76,573 | €76,203 | -€369 | -0.5% |
| Profit (loss) for the period to be appropriated | 9905 | €76,573 | €76,203 | -€369 | -0.5% |
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 10 October 2026 via checked.be.