MEULE: 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.
MEULE
Largest movements
- Current investments +€183,778
up €183,778 (+51.8%), from €354,590 to €538,368
- Cash -€173,130
down €173,130 (-27.8%), from €622,454 to €449,324
mainly Current investments (-€183,778) and Receivables after one year (-€12,658)
No liability line moved by more than 1% of the balance sheet total.
- Financial income +€10,411
up €10,411 (+23.1%), from €45,061 to €55,472
- Financial charges +€8,576
up €8,576 (+421.1%), from €2,036 to €10,612
- Taxes +€4,891
up €4,891 (+57.6%), from €8,496 to €13,388
- Gross operating margin -€1,838
down €1,838 (-23.5%), from -€7,833 to -€9,671
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 | €2,151,211 | €2,174,518 | +€23,306 | +1.1% |
| Current assets | 29/58 | €2,151,211 | €2,174,518 | +€23,306 | +1.1% |
| Amounts receivable after more than one year | 29 | €1,168,903 | €1,181,562 | +€12,658 | +1.1% |
| Other amounts receivable | 291 | €1,168,903 | €1,181,562 | +€12,658 | +1.1% |
| Amounts receivable within one year | 40/41 | €5,265 | €5,265 | -€0 | 0.0% |
| Other amounts receivable | 41 | €5,265 | €5,265 | -€0 | 0.0% |
| Current investments | 50/53 | €354,590 | €538,368 | +€183,778 | +51.8% |
| Cash at bank and in hand | 54/58 | €622,454 | €449,324 | -€173,130 | -27.8% |
| Total equity and liabilities | 10/49 | €2,151,211 | €2,174,518 | +€23,306 | +1.1% |
| Equity | 10/15 | €2,151,211 | €2,171,952 | +€20,741 | +1.0% |
| Contributions | 10/11 | €6,010,000 | €6,010,000 | = | 0.0% |
| Capital | 10 | €6,010,000 | €6,010,000 | = | 0.0% |
| Issued capital | 100 | €6,010,000 | €6,010,000 | = | 0.0% |
| Reserves | 13 | €76,594 | €76,594 | = | 0.0% |
| Non-distributable reserves | 130/1 | €76,594 | €76,594 | = | 0.0% |
| Legal reserve | 130 | €76,594 | €76,594 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,935,383 | -€3,914,642 | +€20,741 | +0.5% |
| Amounts payable | 17/49 | - | €2,566 | +€2,566 | |
| Amounts payable within one year | 42/48 | - | €2,566 | +€2,566 | |
| Trade debts | 44 | - | €13 | +€13 | |
| Suppliers | 440/4 | - | €13 | +€13 | |
| Taxes, remuneration and social security | 45 | - | €2,133 | +€2,133 | |
| Taxes | 450/3 | - | €2,133 | +€2,133 | |
| Other amounts payable | 47/48 | - | €420 | +€420 | |
| Other operating charges | 640/8 | €1,030 | €1,060 | +€31 | +3.0% |
| Gross operating margin | 9900 | -€7,833 | -€9,671 | -€1,838 | -23.5% |
| Operating profit (loss) | 9901 | -€8,863 | -€10,731 | -€1,869 | -21.1% |
| Financial income | 75/76B | €45,061 | €55,472 | +€10,411 | +23.1% |
| Recurring financial income | 75 | €45,061 | €55,472 | +€10,411 | +23.1% |
| Financial charges | 65/66B | €2,036 | €10,612 | +€8,576 | +421.1% |
| Recurring financial charges | 65 | €2,036 | €10,612 | +€8,576 | +421.1% |
| Profit (loss) for the period before taxes | 9903 | €34,162 | €34,128 | -€34 | -0.1% |
| Income taxes | 67/77 | €8,496 | €13,388 | +€4,891 | +57.6% |
| Profit (loss) for the period | 9904 | €25,666 | €20,741 | -€4,925 | -19.2% |
| Profit (loss) for the period to be appropriated | 9905 | €25,666 | €20,741 | -€4,925 | -19.2% |
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 29 September 2026 via checked.be.