MEULEMEESTER STEVEN: 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.
MEULEMEESTER STEVEN
Largest movements
- Current investments +€500,000
up €500,000 (+500%), from €100,000 to €600,000
- Cash -€294,435
down €294,435 (-85.2%), from €345,769 to €51,334
mainly Current investments (-€500,000) and Contributions, distributions and other (-€142,663)
- Receivables within one year -€195,816
down €195,816 (-75.0%), from €261,065 to €65,249
of which Other amounts receivable: -€201,524
- Other debts +€41,026
up €41,026 (+173%), from €23,779 to €64,805
- Gross operating margin +€50,589
up €50,589 (+36.4%), from €138,806 to €189,394
- Taxes +€6,011
up €6,011 (+10.7%), from €56,323 to €62,334
- Financial income -€2,068
down €2,068 (-18.0%), from €11,505 to €9,437
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 | €1,329,185 | €1,339,146 | +€9,961 | +0.7% |
| Fixed assets | 21/28 | €620,597 | €621,468 | +€871 | +0.1% |
| Tangible fixed assets | 22/27 | €620,597 | €621,468 | +€871 | +0.1% |
| Land and buildings | 22 | €114,855 | €114,960 | +€105 | +0.1% |
| Plant, machinery and equipment | 23 | €42,489 | €42,820 | +€331 | +0.8% |
| Other tangible fixed assets | 26 | €463,252 | €463,687 | +€435 | +0.1% |
| Current assets | 29/58 | €708,588 | €717,678 | +€9,090 | +1.3% |
| Amounts receivable within one year | 40/41 | €261,065 | €65,249 | -€195,816 | -75.0% |
| Trade receivables | 40 | €647 | €6,355 | +€5,708 | +882% |
| Other amounts receivable | 41 | €260,417 | €58,893 | -€201,524 | -77.4% |
| Current investments | 50/53 | €100,000 | €600,000 | +€500,000 | +500% |
| Cash at bank and in hand | 54/58 | €345,769 | €51,334 | -€294,435 | -85.2% |
| Deferred charges and accrued income | 490/1 | €1,755 | €1,096 | -€659 | -37.5% |
| Total equity and liabilities | 10/49 | €1,329,185 | €1,339,146 | +€9,961 | +0.7% |
| Equity | 10/15 | €1,251,144 | €1,237,176 | -€13,968 | -1.1% |
| Contributions | 10/11 | €94,447 | €94,447 | = | 0.0% |
| Reserves | 13 | €945,731 | €932,596 | -€13,135 | -1.4% |
| Distributable reserves | 133 | €945,731 | €932,596 | -€13,135 | -1.4% |
| Profit (loss) carried forward | 14 | €210,966 | €210,133 | -€833 | -0.4% |
| Amounts payable | 17/49 | €78,040 | €101,969 | +€23,929 | +30.7% |
| Amounts payable within one year | 42/48 | €77,490 | €101,938 | +€24,448 | +31.5% |
| Current portion of amounts payable after more than one year | 42 | €27,053 | €21,887 | -€5,165 | -19.1% |
| Trade debts | 44 | €9,674 | €8,575 | -€1,099 | -11.4% |
| Suppliers | 440/4 | €9,674 | €8,575 | -€1,099 | -11.4% |
| Taxes, remuneration and social security | 45 | €16,985 | €6,671 | -€10,314 | -60.7% |
| Taxes | 450/3 | €16,985 | €6,671 | -€10,314 | -60.7% |
| Other amounts payable | 47/48 | €23,779 | €64,805 | +€41,026 | +173% |
| Accrued charges and deferred income | 492/3 | €550 | €31 | -€519 | -94.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €445 | €451 | +€6 | +1.4% |
| Other operating charges | 640/8 | €5,071 | €3,841 | -€1,230 | -24.3% |
| Gross operating margin | 9900 | €138,806 | €189,394 | +€50,589 | +36.4% |
| Operating profit (loss) | 9901 | €133,290 | €185,102 | +€51,812 | +38.9% |
| Financial income | 75/76B | €11,505 | €9,437 | -€2,068 | -18.0% |
| Recurring financial income | 75 | €11,505 | €9,437 | -€2,068 | -18.0% |
| Financial charges | 65/66B | €5,324 | €3,510 | -€1,814 | -34.1% |
| Recurring financial charges | 65 | €5,324 | €3,510 | -€1,814 | -34.1% |
| Profit (loss) for the period before taxes | 9903 | €139,471 | €191,030 | +€51,559 | +37.0% |
| Income taxes | 67/77 | €56,323 | €62,334 | +€6,011 | +10.7% |
| Profit (loss) for the period | 9904 | €83,147 | €128,696 | +€45,548 | +54.8% |
| Profit (loss) for the period to be appropriated | 9905 | €83,147 | €128,696 | +€45,548 | +54.8% |
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.