MEULEWAETER J.: 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.
MEULEWAETER J.
Largest movements
- Tangible fixed assets -€17,205
down €17,205 (-28.2%), from €60,980 to €43,774
of which Furniture and vehicles: -€12,799
- Receivables within one year -€3,170
down €3,170 (-77.9%), from €4,071 to €902
of which Trade receivables: -€1,795
- Reserves -€22,809
down €22,809 (-12.0%), from €189,501 to €166,692
of which Distributable reserves: -€22,809
- Trade debts +€2,565
up €2,565, from €0 to €2,565
- Gross operating margin -€3,433
down €3,433 (-5.1%), from €67,764 to €64,331
- Depreciation -€1,214
down €1,214 (-6.6%), from €18,420 to €17,205
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 | €204,205 | €182,868 | -€21,337 | -10.4% |
| Fixed assets | 21/28 | €60,980 | €43,774 | -€17,205 | -28.2% |
| Tangible fixed assets | 22/27 | €60,980 | €43,774 | -€17,205 | -28.2% |
| Land and buildings | 22 | €4,988 | €3,530 | -€1,458 | -29.2% |
| Plant, machinery and equipment | 23 | €18,543 | €15,595 | -€2,949 | -15.9% |
| Furniture and vehicles | 24 | €37,449 | €24,650 | -€12,799 | -34.2% |
| Current assets | 29/58 | €143,225 | €139,093 | -€4,132 | -2.9% |
| Amounts receivable within one year | 40/41 | €4,071 | €902 | -€3,170 | -77.9% |
| Trade receivables | 40 | €1,795 | €0 | -€1,795 | -100% |
| Other amounts receivable | 41 | €2,276 | €902 | -€1,374 | -60.4% |
| Cash at bank and in hand | 54/58 | €133,147 | €131,330 | -€1,817 | -1.4% |
| Deferred charges and accrued income | 490/1 | €6,006 | €6,862 | +€856 | +14.2% |
| Total equity and liabilities | 10/49 | €204,205 | €182,868 | -€21,337 | -10.4% |
| Equity | 10/15 | €201,904 | €179,095 | -€22,809 | -11.3% |
| Contributions | 10/11 | €12,403 | €12,403 | = | 0.0% |
| Reserves | 13 | €189,501 | €166,692 | -€22,809 | -12.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €187,641 | €164,832 | -€22,809 | -12.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,301 | €3,773 | +€1,472 | +64.0% |
| Amounts payable within one year | 42/48 | €2,278 | €3,773 | +€1,495 | +65.7% |
| Financial debts | 43 | €1,025 | €1,197 | +€172 | +16.8% |
| Other loans | 439 | €1,025 | €1,197 | +€172 | +16.8% |
| Trade debts | 44 | €0 | €2,565 | +€2,565 | |
| Suppliers | 440/4 | €0 | €2,565 | +€2,565 | |
| Taxes, remuneration and social security | 45 | €1,253 | €0 | -€1,253 | -100% |
| Taxes | 450/3 | €1,253 | €0 | -€1,253 | -100% |
| Other amounts payable | 47/48 | €0 | €11 | +€11 | |
| Accrued charges and deferred income | 492/3 | €23 | €0 | -€23 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,420 | €17,205 | -€1,214 | -6.6% |
| Other operating charges | 640/8 | €919 | €555 | -€364 | -39.6% |
| Gross operating margin | 9900 | €67,764 | €64,331 | -€3,433 | -5.1% |
| Operating profit (loss) | 9901 | €48,426 | €46,571 | -€1,855 | -3.8% |
| Financial income | 75/76B | €1 | €50 | +€49 | +5,424% |
| Recurring financial income | 75 | €1 | €50 | +€49 | +5,424% |
| Financial charges | 65/66B | €238 | €217 | -€22 | -9.1% |
| Recurring financial charges | 65 | €238 | €217 | -€22 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | €48,189 | €46,404 | -€1,784 | -3.7% |
| Income taxes | 67/77 | €16,253 | €15,713 | -€539 | -3.3% |
| Profit (loss) for the period | 9904 | €31,936 | €30,691 | -€1,245 | -3.9% |
| Profit (loss) for the period to be appropriated | 9905 | €31,936 | €30,691 | -€1,245 | -3.9% |
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 25 October 2026 via checked.be.