MERODIS: 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.
MERODIS
Largest movements
- Receivables within one year -€4.4m
down €4.4m (-90.6%), from €4.8m to €456,769
of which Trade receivables: -€4.3m
- Current investments -€193,867
down €193,867 (-65.8%), from €294,670 to €100,803
- Cash +€157,970
up €157,970 (+36.4%), from €434,050 to €592,020
mainly Receivables within one year (+€4.4m) and Current investments (+€193,867)
- Deferred charges and accrued income -€64,605
down €64,605 (-62.1%), from €104,095 to €39,490
- Trade debts -€4.5m
down €4.5m (-94.7%), from €4.8m to €253,404
- Profit (loss) carried forward +€99,277
up €99,277 (+11.3%), from €878,299 to €977,576
- Write-downs +€604,867
up €604,867, from -€604,867 to €0
- Taxes -€193,961
down €193,961 (-72.5%), from €267,487 to €73,526
- Gross operating margin +€134,362
up €134,362 (+19.4%), from €693,512 to €827,874
- Staff costs -€105,927
down €105,927 (-16.3%), from €650,221 to €544,294
- Provisions +€58,711
up €58,711, from -€57,660 to €1,051
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 | €5,979,354 | €1,463,028 | -€4.5m | -75.5% |
| Fixed assets | 21/28 | €305,930 | €273,946 | -€31,984 | -10.5% |
| Intangible fixed assets | 21 | €9,973 | €14,271 | +€4,299 | +43.1% |
| Tangible fixed assets | 22/27 | €53,467 | €17,185 | -€36,283 | -67.9% |
| Furniture and vehicles | 24 | €45,966 | €12,031 | -€33,935 | -73.8% |
| Other tangible fixed assets | 26 | €7,501 | €5,153 | -€2,347 | -31.3% |
| Financial fixed assets | 28 | €242,490 | €242,490 | = | 0.0% |
| Current assets | 29/58 | €5,673,424 | €1,189,082 | -€4.5m | -79.0% |
| Amounts receivable within one year | 40/41 | €4,840,609 | €456,769 | -€4.4m | -90.6% |
| Trade receivables | 40 | €4,739,292 | €456,621 | -€4.3m | -90.4% |
| Other amounts receivable | 41 | €101,317 | €148 | -€101,169 | -99.9% |
| Current investments | 50/53 | €294,670 | €100,803 | -€193,867 | -65.8% |
| Cash at bank and in hand | 54/58 | €434,050 | €592,020 | +€157,970 | +36.4% |
| Deferred charges and accrued income | 490/1 | €104,095 | €39,490 | -€64,605 | -62.1% |
| Total equity and liabilities | 10/49 | €5,979,354 | €1,463,028 | -€4.5m | -75.5% |
| Equity | 10/15 | €898,759 | €998,036 | +€99,277 | +11.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Own shares acquired | 1312 | €0 | - | = | |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €878,299 | €977,576 | +€99,277 | +11.3% |
| Provisions and deferred taxes | 16 | - | €25,000 | +€25,000 | |
| Provisions for liabilities and charges | 160/5 | - | €25,000 | +€25,000 | |
| Other liabilities and charges | 164/5 | - | €25,000 | +€25,000 | |
| Amounts payable | 17/49 | €5,080,595 | €439,992 | -€4.6m | -91.3% |
| Amounts payable within one year | 42/48 | €5,065,967 | €439,992 | -€4.6m | -91.3% |
| Financial debts | 43 | - | €6,654 | +€6,654 | |
| Credit institutions | 430/8 | - | €6,654 | +€6,654 | |
| Trade debts | 44 | €4,790,815 | €253,404 | -€4.5m | -94.7% |
| Suppliers | 440/4 | €4,790,815 | €253,404 | -€4.5m | -94.7% |
| Taxes, remuneration and social security | 45 | €167,118 | €120,814 | -€46,304 | -27.7% |
| Taxes | 450/3 | €54,756 | €73,867 | +€19,111 | +34.9% |
| Remuneration and social security | 454/9 | €112,362 | €46,946 | -€65,416 | -58.2% |
| Other amounts payable | 47/48 | €108,034 | €59,120 | -€48,914 | -45.3% |
| Accrued charges and deferred income | 492/3 | €14,629 | €0 | -€14,629 | -100% |
| Remuneration, social security and pensions | 62 | €650,221 | €544,294 | -€105,927 | -16.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,380 | €24,365 | -€6,015 | -19.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€604,867 | €0 | +€604,867 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€57,660 | €1,051 | +€58,711 | |
| Other operating charges | 640/8 | €24,464 | €25,040 | +€575 | +2.4% |
| Gross operating margin | 9900 | €693,512 | €827,874 | +€134,362 | +19.4% |
| Operating profit (loss) | 9901 | €650,975 | €233,126 | -€417,849 | -64.2% |
| Financial income | 75/76B | €19,240 | €3,305 | -€15,935 | -82.8% |
| Recurring financial income | 75 | €19,240 | €3,305 | -€15,935 | -82.8% |
| Financial charges | 65/66B | €13,701 | €4,507 | -€9,194 | -67.1% |
| Recurring financial charges | 65 | €13,701 | €4,507 | -€9,194 | -67.1% |
| Profit (loss) for the period before taxes | 9903 | €656,513 | €231,923 | -€424,590 | -64.7% |
| Income taxes | 67/77 | €267,487 | €73,526 | -€193,961 | -72.5% |
| Profit (loss) for the period | 9904 | €389,026 | €158,397 | -€230,629 | -59.3% |
| Profit (loss) for the period to be appropriated | 9905 | €389,026 | €158,397 | -€230,629 | -59.3% |
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.