MERITORIUM: 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.
MERITORIUM
Largest movements
- Tangible fixed assets -€12,687
down €12,687 (-4.0%), from €320,921 to €308,234
of which Land and buildings: -€12,224
- Receivables within one year +€5,326
up €5,326 (+2731.3%), from €195 to €5,521
of which Trade receivables: +€5,215
- Debts after one year -€5,666
down €5,666 (-1.8%), from €306,777 to €301,111
- Profit (loss) carried forward -€4,435
down €4,435 (-620.3%), from -€715 to -€5,150
- Trade debts +€3,376
up €3,376 (+1962.8%), from €172 to €3,548
- Depreciation +€7,345
up €7,345 (+137.5%), from €5,342 to €12,687
- Gross operating margin +€5,957
up €5,957 (+118.6%), from €5,022 to €10,979
- Other operating charges +€1,945
up €1,945 (+407.8%), from €477 to €2,422
- Financial income -€234
down €234 (-99.2%), from €236 to €2
of which Non-recurring financial income: -€200
- Financial charges +€153
up €153 (+99.4%), from €154 to €307
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 | €322,664 | €313,803 | -€8,861 | -2.7% |
| Fixed assets | 21/28 | €320,921 | €308,234 | -€12,687 | -4.0% |
| Tangible fixed assets | 22/27 | €320,921 | €308,234 | -€12,687 | -4.0% |
| Land and buildings | 22 | €316,446 | €304,222 | -€12,224 | -3.9% |
| Furniture and vehicles | 24 | €4,475 | €4,012 | -€463 | -10.3% |
| Current assets | 29/58 | €1,743 | €5,569 | +€3,826 | +219.5% |
| Amounts receivable within one year | 40/41 | €195 | €5,521 | +€5,326 | +2731.3% |
| Trade receivables | 40 | - | €5,215 | +€5,215 | |
| Other amounts receivable | 41 | €195 | €306 | +€111 | +56.9% |
| Cash at bank and in hand | 54/58 | €991 | €48 | -€943 | -95.2% |
| Deferred charges and accrued income | 490/1 | €557 | - | -€557 | |
| Total equity and liabilities | 10/49 | €322,664 | €313,803 | -€8,861 | -2.7% |
| Equity | 10/15 | €2,536 | -€1,899 | -€4,435 | |
| Contributions | 10/11 | €3,251 | €3,251 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€715 | -€5,150 | -€4,435 | -620.3% |
| Amounts payable | 17/49 | €320,128 | €315,702 | -€4,426 | -1.4% |
| Amounts payable after more than one year | 17 | €306,777 | €301,111 | -€5,666 | -1.8% |
| Financial debts | 170/4 | €306,777 | €301,111 | -€5,666 | -1.8% |
| Amounts payable within one year | 42/48 | €13,351 | €14,591 | +€1,240 | +9.3% |
| Financial debts | 43 | €10,579 | €8,065 | -€2,514 | -23.8% |
| Credit institutions | 430/8 | €10,579 | €8,065 | -€2,514 | -23.8% |
| Trade debts | 44 | €172 | €3,548 | +€3,376 | +1962.8% |
| Suppliers | 440/4 | €172 | €3,548 | +€3,376 | +1962.8% |
| Taxes, remuneration and social security | 45 | - | €55 | +€55 | |
| Remuneration and social security | 454/9 | - | €55 | +€55 | |
| Other amounts payable | 47/48 | €2,600 | €2,923 | +€323 | +12.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,342 | €12,687 | +€7,345 | +137.5% |
| Other operating charges | 640/8 | €477 | €2,422 | +€1,945 | +407.8% |
| Gross operating margin | 9900 | €5,022 | €10,979 | +€5,957 | +118.6% |
| Operating profit (loss) | 9901 | -€797 | -€4,130 | -€3,333 | -418.2% |
| Financial income | 75/76B | €236 | €2 | -€234 | -99.2% |
| Recurring financial income | 75 | €36 | €2 | -€34 | -94.4% |
| Non-recurring financial income | 76B | €200 | - | -€200 | |
| Financial charges | 65/66B | €154 | €307 | +€153 | +99.4% |
| Recurring financial charges | 65 | €154 | €307 | +€153 | +99.4% |
| Profit (loss) for the period before taxes | 9903 | -€715 | -€4,435 | -€3,720 | -520.3% |
| Profit (loss) for the period | 9904 | -€715 | -€4,435 | -€3,720 | -520.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€715 | -€4,435 | -€3,720 | -520.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.