MEULDERS: 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.
MEULDERS
Largest movements
- Cash -€43,784
down €43,784 (-43.9%), from €99,662 to €55,878
mainly Trade debts (-€119,090) and Investment in fixed assets (net) (-€13,066)
- Stocks and contracts -€33,004
down €33,004 (-19.5%), from €169,045 to €136,041
- Tangible fixed assets -€14,192
down €14,192 (-11.5%), from €123,404 to €109,212
of which Furniture and vehicles: -€14,447
- Receivables within one year -€12,768
down €12,768 (-50.8%), from €25,120 to €12,352
of which Other amounts receivable: -€9,256
- Trade debts -€119,090
down €119,090 (-67.5%), from €176,494 to €57,404
- Reserves +€27,436
up €27,436 (+26.4%), from €103,979 to €131,415
of which Distributable reserves: +€27,436
- Other debts -€13,057
down €13,057 (-25.4%), from €51,398 to €38,341
- Gross operating margin +€31,894
up €31,894 (+27.8%), from €114,800 to €146,694
- Depreciation +€17,050
up €17,050 (+167.0%), from €10,208 to €27,258
- Staff costs +€3,091
up €3,091 (+4.1%), from €74,666 to €77,758
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 | €420,181 | €316,393 | -€103,788 | -24.7% |
| Fixed assets | 21/28 | €123,404 | €109,212 | -€14,192 | -11.5% |
| Tangible fixed assets | 22/27 | €123,404 | €109,212 | -€14,192 | -11.5% |
| Land and buildings | 22 | €14,874 | €14,874 | = | 0.0% |
| Plant, machinery and equipment | 23 | €12,047 | €12,301 | +€255 | +2.1% |
| Furniture and vehicles | 24 | €96,483 | €82,037 | -€14,447 | -15.0% |
| Current assets | 29/58 | €296,777 | €207,182 | -€89,596 | -30.2% |
| Stocks and contracts in progress | 3 | €169,045 | €136,041 | -€33,004 | -19.5% |
| Stocks | 30/36 | €169,045 | €136,041 | -€33,004 | -19.5% |
| Amounts receivable within one year | 40/41 | €25,120 | €12,352 | -€12,768 | -50.8% |
| Trade receivables | 40 | €15,865 | €12,352 | -€3,512 | -22.1% |
| Other amounts receivable | 41 | €9,256 | €0 | -€9,256 | -100.0% |
| Cash at bank and in hand | 54/58 | €99,662 | €55,878 | -€43,784 | -43.9% |
| Deferred charges and accrued income | 490/1 | €2,950 | €2,910 | -€40 | -1.4% |
| Total equity and liabilities | 10/49 | €420,181 | €316,393 | -€103,788 | -24.7% |
| Equity | 10/15 | €183,305 | €210,741 | +€27,436 | +15.0% |
| Contributions | 10/11 | €79,326 | €79,326 | = | 0.0% |
| Reserves | 13 | €103,979 | €131,415 | +€27,436 | +26.4% |
| Non-distributable reserves | 130/1 | €8,918 | €8,918 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,918 | €8,918 | = | 0.0% |
| Tax-exempt reserves | 132 | €29,943 | €29,943 | = | 0.0% |
| Distributable reserves | 133 | €65,118 | €92,553 | +€27,436 | +42.1% |
| Amounts payable | 17/49 | €236,875 | €105,652 | -€131,223 | -55.4% |
| Amounts payable within one year | 42/48 | €236,875 | €105,652 | -€131,223 | -55.4% |
| Trade debts | 44 | €176,494 | €57,404 | -€119,090 | -67.5% |
| Suppliers | 440/4 | €176,494 | €57,404 | -€119,090 | -67.5% |
| Taxes, remuneration and social security | 45 | €8,983 | €9,907 | +€923 | +10.3% |
| Taxes | 450/3 | €1,955 | €4,112 | +€2,157 | +110.3% |
| Remuneration and social security | 454/9 | €7,029 | €5,795 | -€1,234 | -17.6% |
| Other amounts payable | 47/48 | €51,398 | €38,341 | -€13,057 | -25.4% |
| Remuneration, social security and pensions | 62 | €74,666 | €77,758 | +€3,091 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,208 | €27,258 | +€17,050 | +167.0% |
| Other operating charges | 640/8 | €3,379 | €3,499 | +€120 | +3.5% |
| Gross operating margin | 9900 | €114,800 | €146,694 | +€31,894 | +27.8% |
| Operating profit (loss) | 9901 | €26,546 | €38,179 | +€11,633 | +43.8% |
| Financial income | 75/76B | €1,942 | €1,197 | -€745 | -38.4% |
| Recurring financial income | 75 | €1,942 | €1,197 | -€745 | -38.4% |
| Financial charges | 65/66B | €1,760 | €2,257 | +€496 | +28.2% |
| Recurring financial charges | 65 | €1,760 | €2,257 | +€496 | +28.2% |
| Profit (loss) for the period before taxes | 9903 | €26,727 | €37,119 | +€10,392 | +38.9% |
| Income taxes | 67/77 | €8,546 | €9,683 | +€1,138 | +13.3% |
| Profit (loss) for the period | 9904 | €18,182 | €27,436 | +€9,254 | +50.9% |
| Profit (loss) for the period to be appropriated | 9905 | €18,182 | €27,436 | +€9,254 | +50.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.