MEULEMAN - LOETERS: 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.
MEULEMAN - LOETERS
Largest movements
- Receivables within one year -€74,439
down €74,439 (-60.7%), from €122,554 to €48,115
of which Trade receivables: -€92,558
- Cash +€56,750
up €56,750 (+165%), from €34,472 to €91,222
mainly Receivables within one year (+€74,439) and Depreciation (+€44,939)
- Tangible fixed assets -€40,157
down €40,157 (-13.5%), from €297,064 to €256,906
of which Plant, machinery and equipment: -€37,770
- Current investments -€24,958
down €24,958 (-18.9%), from €131,817 to €106,859
- Reserves -€46,322
down €46,322 (-16.6%), from €278,979 to €232,658
- Debts after one year -€29,137
down €29,137 (-13.2%), from €220,058 to €190,921
- Accrued charges and deferred income +€16,842
up €16,842 (+861%), from €1,957 to €18,799
- Tax, wage and social debts -€16,701
down €16,701 (-100%), from €16,701 to €0
- Trade debts -€11,515
down €11,515 (-39.3%), from €29,306 to €17,790
- Gross operating margin -€127,325
down €127,325 (-37.8%), from €336,871 to €209,546
- Taxes -€24,404
down €24,404 (-99.6%), from €24,510 to €106
- Staff costs -€12,334
down €12,334 (-7.0%), from €176,525 to €164,191
- Depreciation -€4,650
down €4,650 (-9.4%), from €49,589 to €44,939
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 | €594,252 | €507,905 | -€86,347 | -14.5% |
| Fixed assets | 21/28 | €297,064 | €256,906 | -€40,157 | -13.5% |
| Tangible fixed assets | 22/27 | €297,064 | €256,906 | -€40,157 | -13.5% |
| Plant, machinery and equipment | 23 | €275,467 | €237,697 | -€37,770 | -13.7% |
| Furniture and vehicles | 24 | €21,596 | €19,209 | -€2,387 | -11.1% |
| Current assets | 29/58 | €297,188 | €250,999 | -€46,189 | -15.5% |
| Stocks and contracts in progress | 3 | €850 | €600 | -€250 | -29.4% |
| Stocks | 30/36 | €850 | €600 | -€250 | -29.4% |
| Amounts receivable within one year | 40/41 | €122,554 | €48,115 | -€74,439 | -60.7% |
| Trade receivables | 40 | €114,459 | €21,902 | -€92,558 | -80.9% |
| Other amounts receivable | 41 | €8,094 | €26,213 | +€18,119 | +224% |
| Current investments | 50/53 | €131,817 | €106,859 | -€24,958 | -18.9% |
| Cash at bank and in hand | 54/58 | €34,472 | €91,222 | +€56,750 | +165% |
| Deferred charges and accrued income | 490/1 | €7,496 | €4,204 | -€3,292 | -43.9% |
| Total equity and liabilities | 10/49 | €594,252 | €507,905 | -€86,347 | -14.5% |
| Equity | 10/15 | €297,579 | €251,258 | -€46,322 | -15.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €278,979 | €232,658 | -€46,322 | -16.6% |
| Distributable reserves | 133 | €278,979 | €232,658 | -€46,322 | -16.6% |
| Amounts payable | 17/49 | €296,673 | €256,648 | -€40,025 | -13.5% |
| Amounts payable after more than one year | 17 | €220,058 | €190,921 | -€29,137 | -13.2% |
| Financial debts | 170/4 | €220,058 | €190,921 | -€29,137 | -13.2% |
| Amounts payable within one year | 42/48 | €74,658 | €46,927 | -€27,730 | -37.1% |
| Current portion of amounts payable after more than one year | 42 | €28,651 | €29,137 | +€486 | +1.7% |
| Trade debts | 44 | €29,306 | €17,790 | -€11,515 | -39.3% |
| Suppliers | 440/4 | €29,306 | €17,790 | -€11,515 | -39.3% |
| Taxes, remuneration and social security | 45 | €16,701 | €0 | -€16,701 | -100% |
| Taxes | 450/3 | €16,701 | €0 | -€16,701 | -100% |
| Accrued charges and deferred income | 492/3 | €1,957 | €18,799 | +€16,842 | +861% |
| Non-recurring operating income | 76A | - | €14,264 | +€14,264 | |
| Remuneration, social security and pensions | 62 | €176,525 | €164,191 | -€12,334 | -7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,589 | €44,939 | -€4,650 | -9.4% |
| Other operating charges | 640/8 | €1,814 | €3,079 | +€1,265 | +69.7% |
| Non-recurring operating charges | 66A | - | €39,647 | +€39,647 | |
| Gross operating margin | 9900 | €336,871 | €209,546 | -€127,325 | -37.8% |
| Operating profit (loss) | 9901 | €108,943 | -€42,310 | -€151,252 | |
| Financial income | 75/76B | €1,667 | €1,032 | -€635 | -38.1% |
| Recurring financial income | 75 | €1,667 | €1,032 | -€635 | -38.1% |
| Financial charges | 65/66B | €5,117 | €4,938 | -€179 | -3.5% |
| Recurring financial charges | 65 | €5,117 | €4,938 | -€179 | -3.5% |
| Profit (loss) for the period before taxes | 9903 | €105,493 | -€46,216 | -€151,708 | |
| Income taxes | 67/77 | €24,510 | €106 | -€24,404 | -99.6% |
| Profit (loss) for the period | 9904 | €80,983 | -€46,322 | -€127,304 | |
| Profit (loss) for the period to be appropriated | 9905 | €80,983 | -€46,322 | -€127,304 |
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 22 October 2026 via checked.be.