Meurop 2020: what changed
Meurop 2020
Largest movements
- Stocks and contracts -€667,163
down €667,163 (-12.4%), from €5.4m to €4.7m
- Cash +€583,842
up €583,842 (+1,621%), from €36,012 to €619,854
mainly Stocks and contracts (+€667,163) and Current portion of long-term debt (+€365,706)
- Deferred charges and accrued income +€338,479
up €338,479 (+44.6%), from €759,358 to €1.1m
- Provisions -€763,005
no longer reported in 2025 (was €763,005)
- Current portion of long-term debt +€365,706
new in 2025: €365,706
- Debts after one year +€360,783
up €360,783 (+6.7%), from €5.4m to €5.7m
of which Trade debts: +€360,783
- Other debts +€210,438
up €210,438 (+22.2%), from €949,255 to €1.2m
- Accrued charges and deferred income +€125,561
new in 2025: €125,561
- Provisions -€763,005
new in 2025: -€763,005
- Other operating charges +€270,226
up €270,226 (+209%), from €129,293 to €399,520
- Gross operating margin -€204,953
down €204,953, from €23,704 to -€181,249
- Taxes -€36,860
no longer reported in 2025 (was €36,860)
- Financial charges -€10,555
down €10,555 (-4.8%), from €220,921 to €210,365
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,162,323 | €6,434,441 | +€272,118 | +4.4% |
| Current assets | 29/58 | €6,162,323 | €6,434,441 | +€272,118 | +4.4% |
| Stocks and contracts in progress | 3 | €5,364,933 | €4,697,770 | -€667,163 | -12.4% |
| Contracts in progress | 37 | €5,364,933 | €4,697,770 | -€667,163 | -12.4% |
| Amounts receivable within one year | 40/41 | €2,020 | €18,981 | +€16,961 | +840% |
| Trade receivables | 40 | €2,020 | €18,981 | +€16,961 | +840% |
| Cash at bank and in hand | 54/58 | €36,012 | €619,854 | +€583,842 | +1,621% |
| Deferred charges and accrued income | 490/1 | €759,358 | €1,097,837 | +€338,479 | +44.6% |
| Total equity and liabilities | 10/49 | €6,162,323 | €6,434,441 | +€272,118 | +4.4% |
| Equity | 10/15 | -€996,740 | -€1,024,869 | -€28,129 | -2.8% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,058,240 | -€1,086,369 | -€28,129 | -2.7% |
| Provisions and deferred taxes | 16 | €763,005 | - | -€763,005 | |
| Provisions for liabilities and charges | 160/5 | €763,005 | - | -€763,005 | |
| Major repairs and maintenance | 162 | €248,219 | - | -€248,219 | |
| Environmental obligations | 163 | €514,786 | - | -€514,786 | |
| Amounts payable | 17/49 | €6,396,058 | €7,459,310 | +€1.1m | +16.6% |
| Amounts payable after more than one year | 17 | €5,359,055 | €5,719,838 | +€360,783 | +6.7% |
| Financial debts | 170/4 | €4,625,000 | €4,625,000 | = | 0.0% |
| Trade debts | 175 | €733,365 | €1,094,148 | +€360,783 | +49.2% |
| Other amounts payable | 178/9 | €690 | €690 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,037,003 | €1,613,911 | +€576,907 | +55.6% |
| Current portion of amounts payable after more than one year | 42 | - | €365,706 | +€365,706 | |
| Trade debts | 44 | €65,289 | €86,749 | +€21,460 | +32.9% |
| Suppliers | 440/4 | €65,289 | €86,749 | +€21,460 | +32.9% |
| Taxes, remuneration and social security | 45 | €22,459 | €1,763 | -€20,696 | -92.2% |
| Taxes | 450/3 | €22,459 | €1,763 | -€20,696 | -92.2% |
| Other amounts payable | 47/48 | €949,255 | €1,159,693 | +€210,438 | +22.2% |
| Accrued charges and deferred income | 492/3 | - | €125,561 | +€125,561 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€763,005 | -€763,005 | |
| Other operating charges | 640/8 | €129,293 | €399,520 | +€270,226 | +209% |
| Gross operating margin | 9900 | €23,704 | -€181,249 | -€204,953 | |
| Operating profit (loss) | 9901 | -€105,589 | €182,236 | +€287,825 | |
| Financial charges | 65/66B | €220,921 | €210,365 | -€10,555 | -4.8% |
| Recurring financial charges | 65 | €220,921 | €210,365 | -€10,555 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | -€326,510 | -€28,129 | +€298,381 | +91.4% |
| Income taxes | 67/77 | €36,860 | - | -€36,860 | |
| Profit (loss) for the period | 9904 | -€363,370 | -€28,129 | +€335,241 | +92.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€363,370 | -€28,129 | +€335,241 | +92.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.