MEURENS & RODRIGUES: 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.
MEURENS & RODRIGUES
Largest movements
- Receivables within one year -€20,358
down €20,358 (-7.8%), from €261,923 to €241,565
of which Trade receivables: -€12,139
- Tangible fixed assets +€13,886
up €13,886 (+237%), from €5,850 to €19,737
of which Furniture and vehicles: +€11,523
- Stocks and contracts +€4,890
up €4,890 (+4.3%), from €113,149 to €118,039
- Short-term financial debts -€51,000
down €51,000 (-67.1%), from €76,000 to €25,000
- Other debts +€50,900
up €50,900 (+102%), from €50,000 to €100,900
- Tax, wage and social debts +€24,216
up €24,216 (+647%), from €3,745 to €27,961
of which Taxes: +€24,826
- Debts after one year -€22,413
down €22,413 (-100%), from €22,413 to €0
- Reserves -€9,600
down €9,600 (-6.8%), from €142,000 to €132,400
- Staff costs -€12,631
down €12,631 (-78.2%), from €16,154 to €3,522
- Taxes +€7,282
up €7,282 (+67.3%), from €10,825 to €18,107
- Financial charges -€3,980
down €3,980 (-31.1%), from €12,780 to €8,800
- Gross operating margin +€2,443
up €2,443 (+3.2%), from €75,200 to €77,643
- Depreciation +€1,734
up €1,734 (+108%), from €1,600 to €3,334
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 | €390,082 | €386,854 | -€3,227 | -0.8% |
| Fixed assets | 21/28 | €6,137 | €19,946 | +€13,809 | +225% |
| Intangible fixed assets | 21 | €77 | €0 | -€77 | -100% |
| Tangible fixed assets | 22/27 | €5,850 | €19,737 | +€13,886 | +237% |
| Plant, machinery and equipment | 23 | - | €2,363 | +€2,363 | |
| Furniture and vehicles | 24 | €5,850 | €17,373 | +€11,523 | +197% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €209 | €209 | = | 0.0% |
| Current assets | 29/58 | €383,945 | €366,908 | -€17,037 | -4.4% |
| Stocks and contracts in progress | 3 | €113,149 | €118,039 | +€4,890 | +4.3% |
| Stocks | 30/36 | €113,149 | €118,039 | +€4,890 | +4.3% |
| Amounts receivable within one year | 40/41 | €261,923 | €241,565 | -€20,358 | -7.8% |
| Trade receivables | 40 | €176,947 | €164,808 | -€12,139 | -6.9% |
| Other amounts receivable | 41 | €84,976 | €76,757 | -€8,220 | -9.7% |
| Cash at bank and in hand | 54/58 | €6,992 | €5,061 | -€1,931 | -27.6% |
| Deferred charges and accrued income | 490/1 | €1,881 | €2,244 | +€363 | +19.3% |
| Total equity and liabilities | 10/49 | €390,082 | €386,854 | -€3,227 | -0.8% |
| Equity | 10/15 | €150,380 | €140,838 | -€9,542 | -6.3% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €142,000 | €132,400 | -€9,600 | -6.8% |
| Distributable reserves | 133 | €142,000 | €132,400 | -€9,600 | -6.8% |
| Profit (loss) carried forward | 14 | €320 | €378 | +€58 | +18.2% |
| Amounts payable | 17/49 | €239,702 | €246,016 | +€6,314 | +2.6% |
| Amounts payable after more than one year | 17 | €22,413 | €0 | -€22,413 | -100% |
| Financial debts | 170/4 | €22,413 | €0 | -€22,413 | -100% |
| Amounts payable within one year | 42/48 | €217,289 | €246,016 | +€28,727 | +13.2% |
| Current portion of amounts payable after more than one year | 42 | €25,761 | €22,413 | -€3,348 | -13.0% |
| Financial debts | 43 | €76,000 | €25,000 | -€51,000 | -67.1% |
| Credit institutions | 430/8 | €76,000 | €25,000 | -€51,000 | -67.1% |
| Trade debts | 44 | €61,783 | €69,742 | +€7,959 | +12.9% |
| Suppliers | 440/4 | €61,783 | €69,742 | +€7,959 | +12.9% |
| Taxes, remuneration and social security | 45 | €3,745 | €27,961 | +€24,216 | +647% |
| Taxes | 450/3 | €0 | €24,826 | +€24,826 | |
| Remuneration and social security | 454/9 | €3,745 | €3,135 | -€610 | -16.3% |
| Other amounts payable | 47/48 | €50,000 | €100,900 | +€50,900 | +102% |
| Remuneration, social security and pensions | 62 | €16,154 | €3,522 | -€12,631 | -78.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,600 | €3,334 | +€1,734 | +108% |
| Other operating charges | 640/8 | €3,917 | €5,422 | +€1,504 | +38.4% |
| Gross operating margin | 9900 | €75,200 | €77,643 | +€2,443 | +3.2% |
| Operating profit (loss) | 9901 | €53,529 | €65,365 | +€11,836 | +22.1% |
| Financial income | 75/76B | €4,528 | €2,900 | -€1,628 | -35.9% |
| Recurring financial income | 75 | €4,528 | €2,900 | -€1,628 | -35.9% |
| Financial charges | 65/66B | €12,780 | €8,800 | -€3,980 | -31.1% |
| Recurring financial charges | 65 | €12,780 | €8,800 | -€3,980 | -31.1% |
| Profit (loss) for the period before taxes | 9903 | €45,276 | €59,465 | +€14,189 | +31.3% |
| Income taxes | 67/77 | €10,825 | €18,107 | +€7,282 | +67.3% |
| Profit (loss) for the period | 9904 | €34,451 | €41,358 | +€6,907 | +20.0% |
| Profit (loss) for the period to be appropriated | 9905 | €34,451 | €41,358 | +€6,907 | +20.0% |
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.