Meuse Finco: 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.
What changed
Meuse Finco
NACE 64.999, Other financial services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€3.4m
2024 · €1.2m+€2.2m
Equity
€113,217
2024 · -€3.3m+€3.4m
Cash
€6.7m
2024 · €3.2m+€3.5m
Balance sheet total
€806.6m
2024 · €855.8m-€49.2m
Largest movements
Assets
- Receivables after one year -€153.9m
down €153.9m (-20.6%), from €745.4m to €591.5m
- Receivables within one year +€65.8m
up €65.8m (+123%), from €53.4m to €119.2m
of which Other amounts receivable: +€65.4m
- Current investments +€45.8m
up €45.8m (+107%), from €43.0m to €88.8m
- Deferred charges and accrued income -€10.3m
down €10.3m (-99.0%), from €10.4m to €107,012
Equity and liabilities
- Debts after one year -€161.0m
down €161.0m (-22.5%), from €716.0m to €555.0m
of which Other amounts payable: -€255.0m
- Other debts +€109.1m
up €109.1m (+82.5%), from €132.3m to €241.4m
Income statement
- Financial income +€11.9m
up €11.9m (+25.6%), from €46.4m to €58.3m
of which Financial income: +€12.0m
- Financial charges +€10.0m
up €10.0m (+22.3%), from €44.7m to €54.6m
- Other operating income +€519,558
up €519,558 (+3,514%), from €14,786 to €534,343
- Other operating charges +€515,295
up €515,295 (+51,446%), from €1,002 to €516,297
- Taxes -€351,728
down €351,728 (-99.4%), from €354,027 to €2,299
of which Taxes: -€411,133
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.
Result 2024
€1.2m
Turnover
-€51,263
Other operating income
+€519,558
Services and other goods
-€54,846
Staff costs
+€11,058
Other operating charges
-€515,295
Financial income
+€11.9m
Financial charges
-€10.0m
Taxes
+€351,728
Result 2025
€3.4m
raises the resultlowers the result
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.
From operations
+€210.3m
Investment
-€45.8m
Financing
-€161.0m
Cash 2024
€3.2m
From operations (derived)
+€210.3m
Net result for the year
+€3.4m
Depreciation
+€41,829
Receivables after one year
+€153.9m
Receivables within one year
-€65.8m
Deferred charges and accrued income
+€10.3m
Smaller working-capital items
-€213,892
Other debts
+€109.1m
Accrued charges and deferred income
-€493,850
Investment (derived)
-€45.8m
Current investments
-€45.8m
Financing
-€161.0m
Debts after one year
-€161.0m
Cash 2025
€6.7m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €855,762,223 | €806,609,072 | -€49.2m | -5.7% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €320,148 | €278,318 | -€41,829 | -13.1% |
| Intangible fixed assets | 21 | €320,148 | €278,318 | -€41,829 | -13.1% |
| Current assets | 29/58 | €855,442,075 | €806,330,754 | -€49.1m | -5.7% |
| Amounts receivable after more than one year | 29 | €745,390,486 | €591,518,981 | -€153.9m | -20.6% |
| Other amounts receivable | 291 | €745,390,486 | €591,518,981 | -€153.9m | -20.6% |
| Amounts receivable within one year | 40/41 | €53,416,411 | €119,176,850 | +€65.8m | +123% |
| Trade receivables | 40 | €86,973 | €412,347 | +€325,374 | +374% |
| Other amounts receivable | 41 | €53,329,438 | €118,764,503 | +€65.4m | +123% |
| Current investments | 50/53 | €43,000,000 | €88,801,501 | +€45.8m | +107% |
| Other investments | 51/53 | €43,000,000 | €88,801,501 | +€45.8m | +107% |
| Cash at bank and in hand | 54/58 | €3,223,223 | €6,726,410 | +€3.5m | +109% |
| Deferred charges and accrued income | 490/1 | €10,411,955 | €107,012 | -€10.3m | -99.0% |
| Total equity and liabilities | 10/49 | €855,762,223 | €806,609,072 | -€49.2m | -5.7% |
| Equity | 10/15 | -€3,319,094 | €113,217 | +€3.4m | |
| 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% |
| Reserves | 13 | - | €2,586 | +€2,586 | |
| Non-distributable reserves | 130/1 | - | €2,586 | +€2,586 | |
| Legal reserve | 130 | - | €2,586 | +€2,586 | |
| Profit (loss) carried forward | 14 | -€3,380,594 | €49,132 | +€3.4m | |
| Amounts payable | 17/49 | €859,081,317 | €806,495,855 | -€52.6m | -6.1% |
| Amounts payable after more than one year | 17 | €716,000,000 | €555,000,000 | -€161.0m | -22.5% |
| Financial debts | 170/4 | €306,000,000 | €400,000,000 | +€94.0m | +30.7% |
| Credit institutions | 173 | €306,000,000 | €400,000,000 | +€94.0m | +30.7% |
| Other amounts payable | 178/9 | €410,000,000 | €155,000,000 | -€255.0m | -62.2% |
| Amounts payable within one year | 42/48 | €133,146,530 | €242,054,918 | +€108.9m | +81.8% |
| Trade debts | 44 | €24,999 | €40,378 | +€15,379 | +61.5% |
| Suppliers | 440/4 | €24,999 | €40,378 | +€15,379 | +61.5% |
| Taxes, remuneration and social security | 45 | €840,641 | €611,370 | -€229,271 | -27.3% |
| Taxes | 450/3 | €817,066 | €578,322 | -€238,745 | -29.2% |
| Remuneration and social security | 454/9 | €23,575 | €33,049 | +€9,474 | +40.2% |
| Other amounts payable | 47/48 | €132,280,890 | €241,403,171 | +€109.1m | +82.5% |
| Accrued charges and deferred income | 492/3 | €9,934,786 | €9,440,936 | -€493,850 | -5.0% |
| Operating income | 70/76A | €548,598 | €1,016,893 | +€468,295 | +85.4% |
| Turnover | 70 | €533,812 | €482,549 | -€51,263 | -9.6% |
| Other operating income | 74 | €14,786 | €534,343 | +€519,558 | +3,514% |
| Operating charges | 60/66A | €659,486 | €1,218,569 | +€559,082 | +84.8% |
| Services and other goods | 61 | €361,312 | €416,158 | +€54,846 | +15.2% |
| Remuneration, social security and pensions | 62 | €255,343 | €244,285 | -€11,058 | -4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,829 | €41,829 | = | 0.0% |
| Other operating charges | 640/8 | €1,002 | €516,297 | +€515,295 | +51,446% |
| Operating profit (loss) | 9901 | -€110,888 | -€201,676 | -€90,788 | -81.9% |
| Financial income | 75/76B | €46,367,153 | €58,260,274 | +€11.9m | +25.6% |
| Recurring financial income | 75 | €45,248,786 | €57,236,719 | +€12.0m | +26.5% |
| Income from current assets | 751 | €2,025,232 | €46,444,453 | +€44.4m | +2,193% |
| Other financial income | 752/9 | €43,223,554 | €10,792,266 | -€32.4m | -75.0% |
| Non-recurring financial income | 76B | €1,118,367 | €1,023,555 | -€94,812 | -8.5% |
| Financial charges | 65/66B | €44,668,964 | €54,623,988 | +€10.0m | +22.3% |
| Recurring financial charges | 65 | €44,668,964 | €54,623,988 | +€10.0m | +22.3% |
| Debt charges | 650 | €42,234,145 | €42,287,566 | +€53,420 | +0.1% |
| Other financial charges | 652/9 | €2,434,818 | €12,336,422 | +€9.9m | +407% |
| Profit (loss) for the period before taxes | 9903 | €1,587,301 | €3,434,610 | +€1.8m | +116% |
| Income taxes | 67/77 | €354,027 | €2,299 | -€351,728 | -99.4% |
| Taxes | 670/3 | €413,432 | €2,299 | -€411,133 | -99.4% |
| Tax adjustments and reversals of tax provisions | 77 | €59,406 | - | -€59,406 | |
| Profit (loss) for the period | 9904 | €1,233,274 | €3,432,311 | +€2.2m | +178% |
| Profit (loss) for the period to be appropriated | 9905 | €1,233,274 | €3,432,311 | +€2.2m | +178% |
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 21 October 2026 via checked.be.