MEUSARDENNES: 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.
MEUSARDENNES
Largest movements
- Cash +€61,591
up €61,591 (+92.1%), from €66,849 to €128,440
mainly Other debts (+€71,129) and Net result for the year (+€24,134)
- Tangible fixed assets -€16,014
down €16,014 (-9.0%), from €178,178 to €162,164
of which Leasing and similar rights: -€8,875
- Receivables within one year +€9,653
up €9,653 (+41.9%), from €23,065 to €32,718
of which Trade receivables: +€8,437
- Other debts +€71,129
up €71,129 (+138%), from €51,563 to €122,692
- Debts after one year -€20,940
down €20,940 (-18.4%), from €113,844 to €92,904
- Reserves +€15,534
up €15,534 (+38.0%), from €40,860 to €56,394
of which Distributable reserves: +€15,534
- Trade debts -€5,844
down €5,844 (-51.4%), from €11,370 to €5,526
- Current portion of long-term debt -€5,433
down €5,433 (-20.6%), from €26,373 to €20,940
- Gross operating margin +€13,769
up €13,769 (+22.6%), from €60,910 to €74,679
- Staff costs +€12,314
up €12,314 (+599%), from €2,056 to €14,370
- Taxes -€4,268
down €4,268 (-30.8%), from €13,868 to €9,600
- Other operating charges +€1,746
up €1,746 (+47.5%), from €3,675 to €5,421
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 | €269,247 | €324,989 | +€55,742 | +20.7% |
| Fixed assets | 21/28 | €178,383 | €162,369 | -€16,014 | -9.0% |
| Tangible fixed assets | 22/27 | €178,178 | €162,164 | -€16,014 | -9.0% |
| Land and buildings | 22 | €163,681 | €156,884 | -€6,797 | -4.2% |
| Furniture and vehicles | 24 | €3,215 | €2,873 | -€342 | -10.6% |
| Leasing and similar rights | 25 | €11,282 | €2,407 | -€8,875 | -78.7% |
| Financial fixed assets | 28 | €205 | €205 | = | 0.0% |
| Current assets | 29/58 | €90,864 | €162,620 | +€71,756 | +79.0% |
| Amounts receivable within one year | 40/41 | €23,065 | €32,718 | +€9,653 | +41.9% |
| Trade receivables | 40 | €22,938 | €31,375 | +€8,437 | +36.8% |
| Other amounts receivable | 41 | €127 | €1,343 | +€1,216 | +957% |
| Cash at bank and in hand | 54/58 | €66,849 | €128,440 | +€61,591 | +92.1% |
| Deferred charges and accrued income | 490/1 | €950 | €1,462 | +€512 | +53.9% |
| Total equity and liabilities | 10/49 | €269,247 | €324,989 | +€55,742 | +20.7% |
| Equity | 10/15 | €53,698 | €69,232 | +€15,534 | +28.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €40,860 | €56,394 | +€15,534 | +38.0% |
| 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 | €39,000 | €54,534 | +€15,534 | +39.8% |
| Profit (loss) carried forward | 14 | €438 | €438 | = | 0.0% |
| Amounts payable | 17/49 | €215,549 | €255,757 | +€40,208 | +18.7% |
| Amounts payable after more than one year | 17 | €113,844 | €92,904 | -€20,940 | -18.4% |
| Financial debts | 170/4 | €113,844 | €92,904 | -€20,940 | -18.4% |
| Amounts payable within one year | 42/48 | €101,596 | €162,808 | +€61,212 | +60.3% |
| Current portion of amounts payable after more than one year | 42 | €26,373 | €20,940 | -€5,433 | -20.6% |
| Trade debts | 44 | €11,370 | €5,526 | -€5,844 | -51.4% |
| Suppliers | 440/4 | €11,370 | €5,526 | -€5,844 | -51.4% |
| Taxes, remuneration and social security | 45 | €12,290 | €13,650 | +€1,360 | +11.1% |
| Taxes | 450/3 | €12,054 | €10,027 | -€2,027 | -16.8% |
| Remuneration and social security | 454/9 | €236 | €3,623 | +€3,387 | +1,435% |
| Other amounts payable | 47/48 | €51,563 | €122,692 | +€71,129 | +138% |
| Accrued charges and deferred income | 492/3 | €109 | €45 | -€64 | -58.7% |
| Remuneration, social security and pensions | 62 | €2,056 | €14,370 | +€12,314 | +599% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,364 | €17,505 | +€141 | +0.8% |
| Other operating charges | 640/8 | €3,675 | €5,421 | +€1,746 | +47.5% |
| Non-recurring operating charges | 66A | €121 | €151 | +€30 | +24.8% |
| Gross operating margin | 9900 | €60,910 | €74,679 | +€13,769 | +22.6% |
| Operating profit (loss) | 9901 | €37,694 | €37,232 | -€462 | -1.2% |
| Financial income | 75/76B | €54 | - | -€54 | |
| Recurring financial income | 75 | €54 | - | -€54 | |
| Financial charges | 65/66B | €3,854 | €3,498 | -€356 | -9.2% |
| Recurring financial charges | 65 | €3,854 | €3,498 | -€356 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | €33,894 | €33,734 | -€160 | -0.5% |
| Income taxes | 67/77 | €13,868 | €9,600 | -€4,268 | -30.8% |
| Profit (loss) for the period | 9904 | €20,026 | €24,134 | +€4,108 | +20.5% |
| Profit (loss) for the period to be appropriated | 9905 | €20,026 | €24,134 | +€4,108 | +20.5% |
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.