Merode Vastgoed: 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.
Merode Vastgoed
Largest movements
- Tangible fixed assets -€22,593
down €22,593 (-9.9%), from €229,340 to €206,748
of which Furniture and vehicles: -€18,494
- Receivables within one year +€7,233
up €7,233 (+118.7%), from €6,092 to €13,325
of which Other amounts receivable: +€8,019
- Cash -€5,669
down €5,669 (-25.5%), from €22,232 to €16,563
mainly Debts after one year (-€22,810) and Other debts (-€16,011)
- Debts after one year -€22,810
down €22,810 (-13.0%), from €174,873 to €152,063
- Other debts -€16,011
down €16,011 (-54.7%), from €29,291 to €13,280
- Reserves +€7,330
up €7,330 (+47.4%), from €15,453 to €22,783
- Tax, wage and social debts +€7,267
up €7,267 (+115.1%), from €6,312 to €13,578
- Gross operating margin +€24,785
up €24,785 (+132.6%), from €18,689 to €43,474
- Depreciation +€17,700
up €17,700 (+361.7%), from €4,893 to €22,593
- Taxes +€3,337
up €3,337 (+184.2%), from €1,812 to €5,150
- Financial charges -€3,056
down €3,056 (-26.9%), from €11,342 to €8,286
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 | €259,063 | €237,331 | -€21,732 | -8.4% |
| Fixed assets | 21/28 | €229,590 | €206,998 | -€22,593 | -9.8% |
| Tangible fixed assets | 22/27 | €229,340 | €206,748 | -€22,593 | -9.9% |
| Land and buildings | 22 | €136,476 | €132,952 | -€3,524 | -2.6% |
| Plant, machinery and equipment | 23 | €574 | - | -€574 | |
| Furniture and vehicles | 24 | €92,290 | €73,796 | -€18,494 | -20.0% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €29,472 | €30,333 | +€861 | +2.9% |
| Amounts receivable within one year | 40/41 | €6,092 | €13,325 | +€7,233 | +118.7% |
| Trade receivables | 40 | €6,092 | €5,306 | -€786 | -12.9% |
| Other amounts receivable | 41 | - | €8,019 | +€8,019 | |
| Cash at bank and in hand | 54/58 | €22,232 | €16,563 | -€5,669 | -25.5% |
| Deferred charges and accrued income | 490/1 | €1,148 | €446 | -€702 | -61.2% |
| Total equity and liabilities | 10/49 | €259,063 | €237,331 | -€21,732 | -8.4% |
| Equity | 10/15 | €18,453 | €25,783 | +€7,330 | +39.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €15,453 | €22,783 | +€7,330 | +47.4% |
| Distributable reserves | 133 | €15,453 | €22,783 | +€7,330 | +47.4% |
| Amounts payable | 17/49 | €240,609 | €211,548 | -€29,062 | -12.1% |
| Amounts payable after more than one year | 17 | €174,873 | €152,063 | -€22,810 | -13.0% |
| Financial debts | 170/4 | €174,873 | €152,063 | -€22,810 | -13.0% |
| Amounts payable within one year | 42/48 | €65,737 | €58,423 | -€7,313 | -11.1% |
| Current portion of amounts payable after more than one year | 42 | €22,471 | €23,664 | +€1,193 | +5.3% |
| Financial debts | 43 | €9 | - | -€9 | |
| Credit institutions | 430/8 | €9 | - | -€9 | |
| Trade debts | 44 | €7,654 | €7,901 | +€246 | +3.2% |
| Suppliers | 440/4 | €7,654 | €7,901 | +€246 | +3.2% |
| Taxes, remuneration and social security | 45 | €6,312 | €13,578 | +€7,267 | +115.1% |
| Taxes | 450/3 | €6,312 | €13,578 | +€7,267 | +115.1% |
| Other amounts payable | 47/48 | €29,291 | €13,280 | -€16,011 | -54.7% |
| Accrued charges and deferred income | 492/3 | - | €1,061 | +€1,061 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,893 | €22,593 | +€17,700 | +361.7% |
| Other operating charges | 640/8 | €3,467 | €3,393 | -€74 | -2.1% |
| Gross operating margin | 9900 | €18,689 | €43,474 | +€24,785 | +132.6% |
| Operating profit (loss) | 9901 | €10,329 | €17,488 | +€7,159 | +69.3% |
| Financial income | 75/76B | €3,329 | €3,278 | -€52 | -1.5% |
| Recurring financial income | 75 | €3,329 | €3,278 | -€52 | -1.5% |
| Financial charges | 65/66B | €11,342 | €8,286 | -€3,056 | -26.9% |
| Recurring financial charges | 65 | €11,342 | €8,286 | -€3,056 | -26.9% |
| Profit (loss) for the period before taxes | 9903 | €2,315 | €12,480 | +€10,164 | +439.0% |
| Income taxes | 67/77 | €1,812 | €5,150 | +€3,337 | +184.2% |
| Profit (loss) for the period | 9904 | €503 | €7,330 | +€6,827 | +1356.8% |
| Profit (loss) for the period to be appropriated | 9905 | €503 | €7,330 | +€6,827 | +1356.8% |
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 7 October 2026 via checked.be.