MEUBINEX: 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.
MEUBINEX
Largest movements
- Stocks and contracts -€374,321
down €374,321 (-61.8%), from €605,259 to €230,938
- Current investments +€250,000
new in 2025: €250,000
- Receivables within one year -€117,650
down €117,650 (-62.4%), from €188,563 to €70,912
of which Trade receivables: -€110,886
- Cash -€34,697
down €34,697 (-21.3%), from €162,539 to €127,843
mainly Current investments (-€250,000) and Net result for the year (-€191,722)
- Tangible fixed assets -€17,315
down €17,315 (-48.1%), from €35,961 to €18,646
of which Furniture and vehicles: -€11,528
- Reserves -€191,722
down €191,722 (-27.2%), from €705,586 to €513,864
of which Distributable reserves: -€191,722
- Other debts -€150,955
down €150,955 (-100%), from €150,955 to €0
- Accrued charges and deferred income +€30,060
up €30,060 (+200%), from €15,000 to €45,060
- Trade debts +€21,017
up €21,017 (+44.4%), from €47,288 to €68,306
- Gross operating margin -€69,594
down €69,594 (-61.1%), from €113,885 to €44,291
- Financial income -€20,869
down €20,869 (-63.5%), from €32,881 to €12,012
- Staff costs +€9,299
up €9,299 (+4.6%), from €200,822 to €210,121
- Financial charges -€3,276
down €3,276 (-16.3%), from €20,065 to €16,788
- Other operating charges +€2,002
up €2,002 (+144%), from €1,390 to €3,391
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 | €999,718 | €705,948 | -€293,770 | -29.4% |
| Fixed assets | 21/28 | €40,919 | €23,604 | -€17,315 | -42.3% |
| Tangible fixed assets | 22/27 | €35,961 | €18,646 | -€17,315 | -48.1% |
| Plant, machinery and equipment | 23 | €16,816 | €11,230 | -€5,586 | -33.2% |
| Furniture and vehicles | 24 | €17,577 | €6,049 | -€11,528 | -65.6% |
| Other tangible fixed assets | 26 | €1,568 | €1,367 | -€201 | -12.8% |
| Financial fixed assets | 28 | €4,958 | €4,958 | = | 0.0% |
| Current assets | 29/58 | €958,799 | €682,344 | -€276,455 | -28.8% |
| Stocks and contracts in progress | 3 | €605,259 | €230,938 | -€374,321 | -61.8% |
| Stocks | 30/36 | €605,259 | €230,938 | -€374,321 | -61.8% |
| Amounts receivable within one year | 40/41 | €188,563 | €70,912 | -€117,650 | -62.4% |
| Trade receivables | 40 | €147,017 | €36,131 | -€110,886 | -75.4% |
| Other amounts receivable | 41 | €41,546 | €34,781 | -€6,764 | -16.3% |
| Current investments | 50/53 | - | €250,000 | +€250,000 | |
| Cash at bank and in hand | 54/58 | €162,539 | €127,843 | -€34,697 | -21.3% |
| Deferred charges and accrued income | 490/1 | €2,438 | €2,651 | +€213 | +8.8% |
| Total equity and liabilities | 10/49 | €999,718 | €705,948 | -€293,770 | -29.4% |
| Equity | 10/15 | €767,586 | €575,864 | -€191,722 | -25.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €705,586 | €513,864 | -€191,722 | -27.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,301 | €14,301 | = | 0.0% |
| Distributable reserves | 133 | €685,084 | €493,362 | -€191,722 | -28.0% |
| Amounts payable | 17/49 | €232,132 | €130,085 | -€102,048 | -44.0% |
| Amounts payable within one year | 42/48 | €217,132 | €85,025 | -€132,108 | -60.8% |
| Trade debts | 44 | €47,288 | €68,306 | +€21,017 | +44.4% |
| Suppliers | 440/4 | €47,288 | €68,306 | +€21,017 | +44.4% |
| Taxes, remuneration and social security | 45 | €18,889 | €16,719 | -€2,170 | -11.5% |
| Remuneration and social security | 454/9 | €18,889 | €16,719 | -€2,170 | -11.5% |
| Other amounts payable | 47/48 | €150,955 | €0 | -€150,955 | -100% |
| Accrued charges and deferred income | 492/3 | €15,000 | €45,060 | +€30,060 | +200% |
| Non-recurring operating income | 76A | €6,034 | €4,379 | -€1,655 | -27.4% |
| Remuneration, social security and pensions | 62 | €200,822 | €210,121 | +€9,299 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,995 | €17,725 | -€270 | -1.5% |
| Other operating charges | 640/8 | €1,390 | €3,391 | +€2,002 | +144% |
| Gross operating margin | 9900 | €113,885 | €44,291 | -€69,594 | -61.1% |
| Operating profit (loss) | 9901 | -€106,321 | -€186,946 | -€80,625 | -75.8% |
| Financial income | 75/76B | €32,881 | €12,012 | -€20,869 | -63.5% |
| Recurring financial income | 75 | €32,881 | €12,012 | -€20,869 | -63.5% |
| Financial charges | 65/66B | €20,065 | €16,788 | -€3,276 | -16.3% |
| Recurring financial charges | 65 | €20,065 | €16,788 | -€3,276 | -16.3% |
| Profit (loss) for the period before taxes | 9903 | -€93,505 | -€191,722 | -€98,218 | -105% |
| Profit (loss) for the period | 9904 | -€93,505 | -€191,722 | -€98,218 | -105% |
| Profit (loss) for the period to be appropriated | 9905 | -€93,505 | -€191,722 | -€98,218 | -105% |
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 27 October 2026 via checked.be.