MEULEMAN VASTGOED: what changed
What changed
MEULEMAN VASTGOED
NACE 68.310, Real estate agency activities
filed annual accounts (NBB)
Net result for the year
€2,516
2024 · €220,889-€218,373
Equity
€2.4m
2024 · €2.4m+€2,516
Cash
€88,066
2024 · €252,461-€164,395
Balance sheet total
€4.5m
2024 · €4.6m-€185,274
Largest movements
Assets
- Tangible fixed assets +€221,369
up €221,369 (+8.3%), from €2.7m to €2.9m
of which Land and buildings: +€234,583
- Stocks and contracts -€208,653
down €208,653 (-38.2%), from €546,385 to €337,732
- Receivables after one year -€200,000
down €200,000 (-50.0%), from €400,000 to €200,000
- Cash -€164,395
down €164,395 (-65.1%), from €252,461 to €88,066
mainly Investment in fixed assets (net) (-€276,699) and Other debts (-€199,869)
- Current investments +€100,000
up €100,000 (+20.0%), from €500,000 to €600,000
Equity and liabilities
- Other debts -€199,869
down €199,869 (-28.9%), from €691,007 to €491,138
Income statement
- Depreciation -€79,504
down €79,504 (-58.5%), from €135,834 to €56,330
- Taxes -€46,105
down €46,105 (-59.9%), from €76,968 to €30,862
- Gross operating margin -€25,252
down €25,252 (-4.2%), from €606,517 to €581,266
- Staff costs +€7,070
up €7,070 (+7.3%), from €96,780 to €103,850
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€220,889
Gross operating margin
-€25,252
Staff costs
-€7,070
Depreciation
+€79,504
Other operating charges
-€296
Other operating items
-€307,896
Financial income
+€105
Financial charges
-€3,574
Taxes
+€46,105
Result 2025
€2,516
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€238,042
Investment
-€376,699
Financing
-€25,738
Cash 2024
€252,461
From operations (derived)
+€238,042
Net result for the year
+€2,516
Depreciation
+€56,330
Receivables after one year
+€200,000
Stocks and contracts
+€208,653
Receivables within one year
-€67,210
Smaller working-capital items
-€614
Trade debts
+€30,849
Tax, wage and social debts
+€8,708
Advances received
-€1,319
Other debts
-€199,869
Investment (derived)
-€376,699
Investment in fixed assets (net)
-€276,699
Current investments
-€100,000
Financing
-€25,738
Debts after one year
-€26,957
Current portion of long-term debt
+€1,219
Cash 2025
€88,066
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,640,061 | €4,454,788 | -€185,274 | -4.0% |
| Fixed assets | 21/28 | €2,663,192 | €2,883,561 | +€220,369 | +8.3% |
| Tangible fixed assets | 22/27 | €2,662,192 | €2,883,561 | +€221,369 | +8.3% |
| Land and buildings | 22 | €2,578,585 | €2,813,167 | +€234,583 | +9.1% |
| Plant, machinery and equipment | 23 | €35,895 | €33,382 | -€2,513 | -7.0% |
| Furniture and vehicles | 24 | €47,711 | €37,011 | -€10,700 | -22.4% |
| Financial fixed assets | 28 | €1,000 | - | -€1,000 | |
| Current assets | 29/58 | €1,976,870 | €1,571,227 | -€405,643 | -20.5% |
| Amounts receivable after more than one year | 29 | €400,000 | €200,000 | -€200,000 | -50.0% |
| Other amounts receivable | 291 | €400,000 | €200,000 | -€200,000 | -50.0% |
| Stocks and contracts in progress | 3 | €546,385 | €337,732 | -€208,653 | -38.2% |
| Stocks | 30/36 | €546,385 | €337,732 | -€208,653 | -38.2% |
| Amounts receivable within one year | 40/41 | €260,485 | €327,695 | +€67,210 | +25.8% |
| Trade receivables | 40 | €254,971 | €303,387 | +€48,416 | +19.0% |
| Other amounts receivable | 41 | €5,514 | €24,308 | +€18,794 | +341% |
| Current investments | 50/53 | €500,000 | €600,000 | +€100,000 | +20.0% |
| Cash at bank and in hand | 54/58 | €252,461 | €88,066 | -€164,395 | -65.1% |
| Deferred charges and accrued income | 490/1 | €17,540 | €17,734 | +€194 | +1.1% |
| Total equity and liabilities | 10/49 | €4,640,061 | €4,454,788 | -€185,274 | -4.0% |
| Equity | 10/15 | €2,375,933 | €2,378,449 | +€2,516 | +0.1% |
| Contributions | 10/11 | €6,400 | €6,400 | = | 0.0% |
| Reserves | 13 | €2,184,922 | €2,187,438 | +€2,516 | +0.1% |
| Distributable reserves | 133 | €2,184,922 | €2,187,438 | +€2,516 | +0.1% |
| Profit (loss) carried forward | 14 | €184,611 | €184,611 | = | 0.0% |
| Amounts payable | 17/49 | €2,264,128 | €2,076,339 | -€187,790 | -8.3% |
| Amounts payable after more than one year | 17 | €1,250,163 | €1,223,206 | -€26,957 | -2.2% |
| Financial debts | 170/4 | €1,250,163 | €1,223,206 | -€26,957 | -2.2% |
| Amounts payable within one year | 42/48 | €1,012,945 | €852,533 | -€160,413 | -15.8% |
| Current portion of amounts payable after more than one year | 42 | €175,204 | €176,423 | +€1,219 | +0.7% |
| Trade debts | 44 | €33,171 | €64,020 | +€30,849 | +93.0% |
| Suppliers | 440/4 | €33,171 | €64,020 | +€30,849 | +93.0% |
| Advances received on contracts in progress | 46 | €2,594 | €1,275 | -€1,319 | -50.9% |
| Taxes, remuneration and social security | 45 | €110,969 | €119,677 | +€8,708 | +7.8% |
| Taxes | 450/3 | €88,693 | €93,443 | +€4,751 | +5.4% |
| Remuneration and social security | 454/9 | €22,276 | €26,234 | +€3,957 | +17.8% |
| Other amounts payable | 47/48 | €691,007 | €491,138 | -€199,869 | -28.9% |
| Accrued charges and deferred income | 492/3 | €1,020 | €600 | -€420 | -41.2% |
| Non-recurring operating income | 76A | €114,899 | €2,229 | -€112,670 | -98.1% |
| Remuneration, social security and pensions | 62 | €96,780 | €103,850 | +€7,070 | +7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €135,834 | €56,330 | -€79,504 | -58.5% |
| Other operating charges | 640/8 | €9,295 | €9,592 | +€296 | +3.2% |
| Non-recurring operating charges | 66A | €26,690 | €334,585 | +€307,896 | +1,154% |
| Gross operating margin | 9900 | €606,517 | €581,266 | -€25,252 | -4.2% |
| Operating profit (loss) | 9901 | €337,918 | €76,909 | -€261,010 | -77.2% |
| Financial income | 75/76B | €13,271 | €13,376 | +€105 | +0.8% |
| Recurring financial income | 75 | €13,271 | €13,376 | +€105 | +0.8% |
| Financial charges | 65/66B | €53,333 | €56,906 | +€3,574 | +6.7% |
| Recurring financial charges | 65 | €53,333 | €56,906 | +€3,574 | +6.7% |
| Profit (loss) for the period before taxes | 9903 | €297,856 | €33,378 | -€264,478 | -88.8% |
| Income taxes | 67/77 | €76,968 | €30,862 | -€46,105 | -59.9% |
| Profit (loss) for the period | 9904 | €220,889 | €2,516 | -€218,373 | -98.9% |
| Profit (loss) for the period to be appropriated | 9905 | €220,889 | €2,516 | -€218,373 | -98.9% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.