MERON: 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.
MERON
Largest movements
- Receivables after one year +€43,033
up €43,033 (+55.8%), from €77,061 to €120,094
- Cash -€15,613
down €15,613 (-54.8%), from €28,488 to €12,874
mainly Receivables after one year (-€43,033) and Debts after one year (-€17,755)
- Receivables within one year +€2,672
up €2,672 (+8.9%), from €29,869 to €32,540
of which Other amounts receivable: +€3,779
- Tangible fixed assets -€2,114
down €2,114 (-37.8%), from €5,592 to €3,478
of which Furniture and vehicles: -€1,383
- Reserves +€53,889
up €53,889 (+171.8%), from €31,365 to €85,254
- Debts after one year -€17,755
down €17,755 (-29.2%), from €60,876 to €43,121
- Tax, wage and social debts -€5,432
down €5,432 (-31.5%), from €17,260 to €11,828
- Other debts -€3,733
down €3,733 (-9.9%), from €37,713 to €33,980
- Gross operating margin +€45,792
up €45,792 (+190.0%), from €24,106 to €69,898
- Taxes +€8,492
up €8,492 (+136.0%), from €6,242 to €14,734
- Financial income +€1,195
up €1,195 (+27.9%), from €4,283 to €5,478
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 | €167,716 | €196,197 | +€28,481 | +17.0% |
| Fixed assets | 21/28 | €30,267 | €28,153 | -€2,114 | -7.0% |
| Tangible fixed assets | 22/27 | €5,592 | €3,478 | -€2,114 | -37.8% |
| Plant, machinery and equipment | 23 | €1,287 | €779 | -€508 | -39.5% |
| Furniture and vehicles | 24 | €2,643 | €1,260 | -€1,383 | -52.3% |
| Other tangible fixed assets | 26 | €1,662 | €1,439 | -€223 | -13.4% |
| Financial fixed assets | 28 | €24,675 | €24,675 | = | 0.0% |
| Current assets | 29/58 | €137,449 | €168,044 | +€30,595 | +22.3% |
| Amounts receivable after more than one year | 29 | €77,061 | €120,094 | +€43,033 | +55.8% |
| Other amounts receivable | 291 | €77,061 | €120,094 | +€43,033 | +55.8% |
| Amounts receivable within one year | 40/41 | €29,869 | €32,540 | +€2,672 | +8.9% |
| Trade receivables | 40 | €13,207 | €12,100 | -€1,107 | -8.4% |
| Other amounts receivable | 41 | €16,661 | €20,440 | +€3,779 | +22.7% |
| Cash at bank and in hand | 54/58 | €28,488 | €12,874 | -€15,613 | -54.8% |
| Deferred charges and accrued income | 490/1 | €2,032 | €2,535 | +€503 | +24.8% |
| Total equity and liabilities | 10/49 | €167,716 | €196,197 | +€28,481 | +17.0% |
| Equity | 10/15 | €32,365 | €86,254 | +€53,889 | +166.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €31,365 | €85,254 | +€53,889 | +171.8% |
| Distributable reserves | 133 | €31,365 | €85,254 | +€53,889 | +171.8% |
| Amounts payable | 17/49 | €135,352 | €109,944 | -€25,408 | -18.8% |
| Amounts payable after more than one year | 17 | €60,876 | €43,121 | -€17,755 | -29.2% |
| Financial debts | 170/4 | €60,876 | €43,121 | -€17,755 | -29.2% |
| Amounts payable within one year | 42/48 | €74,475 | €66,774 | -€7,702 | -10.3% |
| Current portion of amounts payable after more than one year | 42 | €16,942 | €17,755 | +€813 | +4.8% |
| Trade debts | 44 | €2,560 | €3,210 | +€650 | +25.4% |
| Suppliers | 440/4 | €2,560 | €3,210 | +€650 | +25.4% |
| Taxes, remuneration and social security | 45 | €17,260 | €11,828 | -€5,432 | -31.5% |
| Taxes | 450/3 | €17,260 | €11,828 | -€5,432 | -31.5% |
| Other amounts payable | 47/48 | €37,713 | €33,980 | -€3,733 | -9.9% |
| Accrued charges and deferred income | 492/3 | - | €48 | +€48 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,385 | €2,114 | -€271 | -11.4% |
| Other operating charges | 640/8 | €62 | €515 | +€453 | +730.2% |
| Gross operating margin | 9900 | €24,106 | €69,898 | +€45,792 | +190.0% |
| Operating profit (loss) | 9901 | €21,659 | €67,270 | +€45,610 | +210.6% |
| Financial income | 75/76B | €4,283 | €5,478 | +€1,195 | +27.9% |
| Recurring financial income | 75 | €4,283 | €5,478 | +€1,195 | +27.9% |
| Financial charges | 65/66B | €4,638 | €4,125 | -€513 | -11.1% |
| Recurring financial charges | 65 | €4,638 | €4,125 | -€513 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | €21,305 | €68,623 | +€47,318 | +222.1% |
| Income taxes | 67/77 | €6,242 | €14,734 | +€8,492 | +136.0% |
| Profit (loss) for the period | 9904 | €15,062 | €53,889 | +€38,826 | +257.8% |
| Profit (loss) for the period to be appropriated | 9905 | €15,062 | €53,889 | +€38,826 | +257.8% |
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 8 October 2026 via checked.be.