MEURANT: 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.
MEURANT
Largest movements
- Receivables within one year +€45,358
up €45,358 (+12.8%), from €353,035 to €398,393
of which Other amounts receivable: +€35,773
- Tangible fixed assets -€43,360
down €43,360 (-15.1%), from €288,088 to €244,728
of which Plant, machinery and equipment: -€32,176
- Cash -€9,797
down €9,797 (-9.7%), from €100,602 to €90,804
mainly Receivables within one year (-€45,358) and Debts after one year (-€31,075)
- Debts after one year -€31,075
down €31,075 (-16.9%), from €184,236 to €153,162
- Staff costs +€11,858
up €11,858 (+7.1%), from €166,396 to €178,255
- Taxes +€5,219
up €5,219 (+890%), from €586 to €5,805
- Financial charges -€4,115
down €4,115 (-15.6%), from €26,391 to €22,276
- Gross operating margin +€3,957
up €3,957 (+1.5%), from €260,023 to €263,981
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 | €934,416 | €928,752 | -€5,664 | -0.6% |
| Fixed assets | 21/28 | €288,088 | €244,728 | -€43,360 | -15.1% |
| Tangible fixed assets | 22/27 | €288,088 | €244,728 | -€43,360 | -15.1% |
| Plant, machinery and equipment | 23 | €230,198 | €198,022 | -€32,176 | -14.0% |
| Furniture and vehicles | 24 | €99 | - | -€99 | |
| Leasing and similar rights | 25 | €57,792 | €46,706 | -€11,086 | -19.2% |
| Current assets | 29/58 | €646,328 | €684,024 | +€37,697 | +5.8% |
| Stocks and contracts in progress | 3 | €191,044 | €192,998 | +€1,954 | +1.0% |
| Stocks | 30/36 | €191,044 | €192,998 | +€1,954 | +1.0% |
| Amounts receivable within one year | 40/41 | €353,035 | €398,393 | +€45,358 | +12.8% |
| Trade receivables | 40 | €118,073 | €127,657 | +€9,585 | +8.1% |
| Other amounts receivable | 41 | €234,962 | €270,735 | +€35,773 | +15.2% |
| Cash at bank and in hand | 54/58 | €100,602 | €90,804 | -€9,797 | -9.7% |
| Deferred charges and accrued income | 490/1 | €1,647 | €1,829 | +€183 | +11.1% |
| Total equity and liabilities | 10/49 | €934,416 | €928,752 | -€5,664 | -0.6% |
| Equity | 10/15 | €136,420 | €145,355 | +€8,935 | +6.5% |
| Contributions | 10/11 | €66,902 | €66,902 | = | 0.0% |
| Reserves | 13 | €12,121 | €12,121 | = | 0.0% |
| Distributable reserves | 133 | €12,121 | €12,121 | = | 0.0% |
| Profit (loss) carried forward | 14 | €57,397 | €66,332 | +€8,935 | +15.6% |
| Amounts payable | 17/49 | €797,996 | €783,397 | -€14,599 | -1.8% |
| Amounts payable after more than one year | 17 | €184,236 | €153,162 | -€31,075 | -16.9% |
| Financial debts | 170/4 | €184,236 | €153,162 | -€31,075 | -16.9% |
| Amounts payable within one year | 42/48 | €613,760 | €626,235 | +€12,476 | +2.0% |
| Current portion of amounts payable after more than one year | 42 | €37,433 | €30,610 | -€6,823 | -18.2% |
| Financial debts | 43 | €250,000 | €250,000 | = | 0.0% |
| Credit institutions | 430/8 | €250,000 | €250,000 | = | 0.0% |
| Trade debts | 44 | €281,462 | €283,279 | +€1,817 | +0.6% |
| Suppliers | 440/4 | €281,462 | €283,279 | +€1,817 | +0.6% |
| Taxes, remuneration and social security | 45 | €31,155 | €40,417 | +€9,262 | +29.7% |
| Taxes | 450/3 | €1,648 | €6,390 | +€4,741 | +288% |
| Remuneration and social security | 454/9 | €29,507 | €34,028 | +€4,521 | +15.3% |
| Other amounts payable | 47/48 | €13,709 | €21,929 | +€8,220 | +60.0% |
| Accrued charges and deferred income | 492/3 | - | €4,000 | +€4,000 | |
| Remuneration, social security and pensions | 62 | €166,396 | €178,255 | +€11,858 | +7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,060 | €43,360 | -€1,700 | -3.8% |
| Other operating charges | 640/8 | €7,363 | €7,385 | +€22 | +0.3% |
| Gross operating margin | 9900 | €260,023 | €263,981 | +€3,957 | +1.5% |
| Operating profit (loss) | 9901 | €41,204 | €34,981 | -€6,223 | -15.1% |
| Financial income | 75/76B | €2,970 | €2,036 | -€935 | -31.5% |
| Recurring financial income | 75 | €2,970 | €2,036 | -€935 | -31.5% |
| Financial charges | 65/66B | €26,391 | €22,276 | -€4,115 | -15.6% |
| Recurring financial charges | 65 | €26,391 | €22,276 | -€4,115 | -15.6% |
| Profit (loss) for the period before taxes | 9903 | €17,783 | €14,740 | -€3,043 | -17.1% |
| Income taxes | 67/77 | €586 | €5,805 | +€5,219 | +890% |
| Profit (loss) for the period | 9904 | €17,197 | €8,935 | -€8,262 | -48.0% |
| Profit (loss) for the period to be appropriated | 9905 | €17,197 | €8,935 | -€8,262 | -48.0% |
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 19 October 2026 via checked.be.