MERU GEMS: 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.
MERU GEMS
Largest movements
- Cash +€369,804
up €369,804 (+472%), from €78,359 to €448,164
mainly Receivables within one year (+€347,206) and Trade debts (+€41,718)
- Receivables within one year -€347,206
down €347,206 (-25.2%), from €1.4m to €1.0m
of which Trade receivables: -€345,722
- Trade debts +€41,718
up €41,718 (+5.3%), from €783,811 to €825,529
- Other debts -€35,069
down €35,069 (-6.8%), from €514,861 to €479,792
- Gross operating margin -€371,051
down €371,051 (-94.2%), from €393,880 to €22,829
- Financial income -€10,951
down €10,951 (-85.1%), from €12,872 to €1,921
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 | €1,751,530 | €1,764,027 | +€12,498 | +0.7% |
| Fixed assets | 21/28 | €2,426 | €3,369 | +€943 | +38.9% |
| Tangible fixed assets | 22/27 | €2,351 | €3,294 | +€943 | +40.1% |
| Plant, machinery and equipment | 23 | - | €2,167 | +€2,167 | |
| Furniture and vehicles | 24 | €2,351 | €1,127 | -€1,224 | -52.1% |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €1,749,103 | €1,760,658 | +€11,555 | +0.7% |
| Stocks and contracts in progress | 3 | €287,564 | €274,107 | -€13,456 | -4.7% |
| Stocks | 30/36 | €287,564 | €274,107 | -€13,456 | -4.7% |
| Amounts receivable within one year | 40/41 | €1,379,382 | €1,032,176 | -€347,206 | -25.2% |
| Trade receivables | 40 | €1,371,683 | €1,025,961 | -€345,722 | -25.2% |
| Other amounts receivable | 41 | €7,699 | €6,215 | -€1,484 | -19.3% |
| Cash at bank and in hand | 54/58 | €78,359 | €448,164 | +€369,804 | +472% |
| Deferred charges and accrued income | 490/1 | €3,799 | €6,211 | +€2,413 | +63.5% |
| Total equity and liabilities | 10/49 | €1,751,530 | €1,764,027 | +€12,498 | +0.7% |
| Equity | 10/15 | €449,779 | €452,424 | +€2,645 | +0.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €431,179 | €433,824 | +€2,645 | +0.6% |
| Distributable reserves | 133 | €431,179 | €433,824 | +€2,645 | +0.6% |
| Amounts payable | 17/49 | €1,301,751 | €1,311,603 | +€9,852 | +0.8% |
| Amounts payable within one year | 42/48 | €1,301,369 | €1,311,603 | +€10,234 | +0.8% |
| Trade debts | 44 | €783,811 | €825,529 | +€41,718 | +5.3% |
| Suppliers | 440/4 | €783,811 | €825,529 | +€41,718 | +5.3% |
| Taxes, remuneration and social security | 45 | €2,697 | €6,282 | +€3,585 | +133% |
| Taxes | 450/3 | €2,697 | €6,282 | +€3,585 | +133% |
| Other amounts payable | 47/48 | €514,861 | €479,792 | -€35,069 | -6.8% |
| Accrued charges and deferred income | 492/3 | €381 | - | -€381 | |
| Remuneration, social security and pensions | 62 | €419 | €685 | +€266 | +63.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,224 | €1,402 | +€177 | +14.5% |
| Other operating charges | 640/8 | €1,466 | €1,771 | +€305 | +20.8% |
| Gross operating margin | 9900 | €393,880 | €22,829 | -€371,051 | -94.2% |
| Operating profit (loss) | 9901 | €390,771 | €18,971 | -€371,799 | -95.1% |
| Financial income | 75/76B | €12,872 | €1,921 | -€10,951 | -85.1% |
| Recurring financial income | 75 | €12,872 | €1,921 | -€10,951 | -85.1% |
| Financial charges | 65/66B | €17,045 | €14,687 | -€2,358 | -13.8% |
| Recurring financial charges | 65 | €17,045 | €14,687 | -€2,358 | -13.8% |
| Profit (loss) for the period before taxes | 9903 | €386,598 | €6,205 | -€380,393 | -98.4% |
| Income taxes | 67/77 | €6,693 | €3,560 | -€3,133 | -46.8% |
| Profit (loss) for the period | 9904 | €379,905 | €2,645 | -€377,260 | -99.3% |
| Profit (loss) for the period to be appropriated | 9905 | €379,905 | €2,645 | -€377,260 | -99.3% |
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 29 October 2026 via checked.be.