MEUBELCO: 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.
MEUBELCO
Largest movements
- Stocks and contracts +€167,876
up €167,876 (+8.6%), from €1.9m to €2.1m
- Receivables within one year -€122,013
down €122,013 (-25.2%), from €484,063 to €362,051
of which Trade receivables: -€176,710
- Debts after one year +€287,769
up €287,769 (+36.8%), from €782,027 to €1.1m
of which Other amounts payable: +€310,170
- Trade debts -€237,027
down €237,027 (-15.8%), from €1.5m to €1.3m
- Staff costs -€27,906
down €27,906 (-26.8%), from €104,083 to €76,177
- Financial charges +€16,089
up €16,089 (+133%), from €12,081 to €28,169
- Other operating charges +€13,373
up €13,373 (+171%), from €7,843 to €21,216
- Gross operating margin -€4,930
down €4,930 (-3.1%), from €156,678 to €151,748
- Depreciation -€4,158
down €4,158 (-17.5%), from €23,825 to €19,667
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 | €2,821,633 | €2,850,343 | +€28,710 | +1.0% |
| Fixed assets | 21/28 | €362,354 | €375,346 | +€12,992 | +3.6% |
| Tangible fixed assets | 22/27 | €41,821 | €54,813 | +€12,992 | +31.1% |
| Plant, machinery and equipment | 23 | €14,262 | €15,851 | +€1,589 | +11.1% |
| Furniture and vehicles | 24 | €27,559 | €38,962 | +€11,403 | +41.4% |
| Financial fixed assets | 28 | €320,533 | €320,533 | = | 0.0% |
| Current assets | 29/58 | €2,459,279 | €2,474,998 | +€15,718 | +0.6% |
| Amounts receivable after more than one year | 29 | €18,000 | - | -€18,000 | |
| Other amounts receivable | 291 | €18,000 | - | -€18,000 | |
| Stocks and contracts in progress | 3 | €1,943,514 | €2,111,390 | +€167,876 | +8.6% |
| Stocks | 30/36 | €1,943,514 | €2,111,390 | +€167,876 | +8.6% |
| Amounts receivable within one year | 40/41 | €484,063 | €362,051 | -€122,013 | -25.2% |
| Trade receivables | 40 | €482,065 | €305,355 | -€176,710 | -36.7% |
| Other amounts receivable | 41 | €1,998 | €56,696 | +€54,698 | +2,738% |
| Cash at bank and in hand | 54/58 | €13,702 | €1,557 | -€12,145 | -88.6% |
| Total equity and liabilities | 10/49 | €2,821,633 | €2,850,343 | +€28,710 | +1.0% |
| Equity | 10/15 | €418,945 | €418,232 | -€713 | -0.2% |
| Contributions | 10/11 | €57,020 | €57,020 | = | 0.0% |
| Reserves | 13 | €361,925 | €361,212 | -€713 | -0.2% |
| Tax-exempt reserves | 132 | €82,559 | €82,559 | = | 0.0% |
| Distributable reserves | 133 | €279,366 | €278,653 | -€713 | -0.3% |
| Amounts payable | 17/49 | €2,402,688 | €2,432,112 | +€29,424 | +1.2% |
| Amounts payable after more than one year | 17 | €782,027 | €1,069,796 | +€287,769 | +36.8% |
| Financial debts | 170/4 | €511,698 | €489,297 | -€22,401 | -4.4% |
| Other amounts payable | 178/9 | €270,329 | €580,499 | +€310,170 | +115% |
| Amounts payable within one year | 42/48 | €1,620,661 | €1,362,315 | -€258,346 | -15.9% |
| Current portion of amounts payable after more than one year | 42 | - | €7,004 | +€7,004 | |
| Trade debts | 44 | €1,496,663 | €1,259,636 | -€237,027 | -15.8% |
| Suppliers | 440/4 | €1,496,663 | €1,259,636 | -€237,027 | -15.8% |
| Taxes, remuneration and social security | 45 | €123,997 | €95,674 | -€28,323 | -22.8% |
| Taxes | 450/3 | €109,398 | €86,963 | -€22,436 | -20.5% |
| Remuneration and social security | 454/9 | €14,599 | €8,712 | -€5,887 | -40.3% |
| Remuneration, social security and pensions | 62 | €104,083 | €76,177 | -€27,906 | -26.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,825 | €19,667 | -€4,158 | -17.5% |
| Other operating charges | 640/8 | €7,843 | €21,216 | +€13,373 | +171% |
| Gross operating margin | 9900 | €156,678 | €151,748 | -€4,930 | -3.1% |
| Operating profit (loss) | 9901 | €20,927 | €34,687 | +€13,761 | +65.8% |
| Financial charges | 65/66B | €12,081 | €28,169 | +€16,089 | +133% |
| Recurring financial charges | 65 | €12,081 | €28,169 | +€16,089 | +133% |
| Profit (loss) for the period before taxes | 9903 | €8,846 | €6,518 | -€2,328 | -26.3% |
| Income taxes | 67/77 | €5,470 | €7,231 | +€1,762 | +32.2% |
| Profit (loss) for the period | 9904 | €3,376 | -€713 | -€4,089 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,376 | -€713 | -€4,089 |
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.