MEULIN: 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.
MEULIN
Largest movements
- Tangible fixed assets +€142,415
up €142,415 (+44.3%), from €321,340 to €463,755
of which Land and buildings: +€142,833
- Receivables within one year +€122,923
up €122,923 (+79090.9%), from €155 to €123,079
of which Trade receivables: +€122,060
- Cash +€13,614
up €13,614 (+183.6%), from €7,415 to €21,029
mainly Debts after one year (+€142,628) and Other debts (+€85,907)
- Debts after one year +€142,628
up €142,628 (+74.4%), from €191,750 to €334,379
- Other debts +€85,907
up €85,907 (+86.0%), from €99,837 to €185,745
- Reserves +€30,764
up €30,764 (+1649.9%), from €1,865 to €32,629
- Current portion of long-term debt +€16,250
up €16,250 (+181.8%), from €8,941 to €25,190
- Financial income +€69,094
up €69,094 (+1925.2%), from €3,589 to €72,683
of which Financial income: +€69,094
- Depreciation +€13,797
up €13,797 (+169.4%), from €8,146 to €21,943
- Financial charges +€6,830
up €6,830 (+92.5%), from €7,383 to €14,214
- Gross operating margin -€6,363
down €6,363 (-62.6%), from €10,158 to €3,795
- Taxes +€5,362
new in 2025: €5,362
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 | €329,304 | €611,725 | +€282,421 | +85.8% |
| Fixed assets | 21/28 | €321,340 | €463,755 | +€142,415 | +44.3% |
| Tangible fixed assets | 22/27 | €321,340 | €463,755 | +€142,415 | +44.3% |
| Land and buildings | 22 | €315,305 | €458,138 | +€142,833 | +45.3% |
| Plant, machinery and equipment | 23 | - | €1,207 | +€1,207 | |
| Furniture and vehicles | 24 | €6,035 | €4,410 | -€1,625 | -26.9% |
| Current assets | 29/58 | €7,963 | €147,970 | +€140,006 | +1758.1% |
| Amounts receivable within one year | 40/41 | €155 | €123,079 | +€122,923 | +79090.9% |
| Trade receivables | 40 | €0 | €122,060 | +€122,060 | |
| Other amounts receivable | 41 | €155 | €1,019 | +€863 | +555.6% |
| Cash at bank and in hand | 54/58 | €7,415 | €21,029 | +€13,614 | +183.6% |
| Deferred charges and accrued income | 490/1 | €393 | €3,862 | +€3,469 | +882.9% |
| Total equity and liabilities | 10/49 | €329,304 | €611,725 | +€282,421 | +85.8% |
| Equity | 10/15 | €21,865 | €52,629 | +€30,764 | +140.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,865 | €32,629 | +€30,764 | +1649.9% |
| Distributable reserves | 133 | €1,865 | €32,629 | +€30,764 | +1649.9% |
| Amounts payable | 17/49 | €307,439 | €559,096 | +€251,657 | +81.9% |
| Amounts payable after more than one year | 17 | €191,750 | €334,379 | +€142,628 | +74.4% |
| Financial debts | 170/4 | €191,750 | €334,379 | +€142,628 | +74.4% |
| Amounts payable within one year | 42/48 | €115,689 | €224,418 | +€108,728 | +94.0% |
| Current portion of amounts payable after more than one year | 42 | €8,941 | €25,190 | +€16,250 | +181.8% |
| Trade debts | 44 | €3,651 | €7,001 | +€3,351 | +91.8% |
| Suppliers | 440/4 | €3,651 | €7,001 | +€3,351 | +91.8% |
| Advances received on contracts in progress | 46 | €235 | - | -€235 | |
| Taxes, remuneration and social security | 45 | €3,026 | €6,481 | +€3,455 | +114.2% |
| Taxes | 450/3 | €3,026 | €6,481 | +€3,455 | +114.2% |
| Other amounts payable | 47/48 | €99,837 | €185,745 | +€85,907 | +86.0% |
| Accrued charges and deferred income | 492/3 | - | €300 | +€300 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,146 | €21,943 | +€13,797 | +169.4% |
| Other operating charges | 640/8 | €889 | €4,195 | +€3,306 | +372.1% |
| Gross operating margin | 9900 | €10,158 | €3,795 | -€6,363 | -62.6% |
| Operating profit (loss) | 9901 | €1,124 | -€22,343 | -€23,467 | |
| Financial income | 75/76B | €3,589 | €72,683 | +€69,094 | +1925.2% |
| Recurring financial income | 75 | €3,589 | €72,683 | +€69,094 | +1925.2% |
| Non-recurring financial income | 76B | €3,589 | - | -€3,589 | |
| Financial charges | 65/66B | €7,383 | €14,214 | +€6,830 | +92.5% |
| Recurring financial charges | 65 | €7,383 | €14,214 | +€6,830 | +92.5% |
| Profit (loss) for the period before taxes | 9903 | -€2,671 | €36,127 | +€38,797 | |
| Income taxes | 67/77 | - | €5,362 | +€5,362 | |
| Profit (loss) for the period | 9904 | -€2,671 | €30,764 | +€33,435 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,671 | €30,764 | +€33,435 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.