Meuse Midco: 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 Midco
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€128,205
2024 · €96.0m-€95.8m
Equity
€656.2m
2024 · €656.1m+€128,205
Cash
€159,519
2024 · €76,530+€82,989
Balance sheet total
€656.4m
2024 · €656.2m+€190,388
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Financial income -€96.1m
down €96.1m (-99.7%), from €96.4m to €265,634
of which Non-recurring financial income: -€96.3m
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
€96.0m
Other operating charges
-€1,966
Other operating items
+€276,122
Financial income
-€96.1m
Financial charges
-€445
Result 2025
€128,205
Cash bridge derived
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
+€93,679
Investment
-€10,690
Financing
€0
Cash 2024
€76,530
From operations (derived)
+€93,679
Net result for the year
+€128,205
Receivables within one year
-€97,122
Deferred charges and accrued income
+€413
Trade debts
-€56,337
Other debts
+€118,520
Investment (derived)
-€10,690
Investment in fixed assets (net)
-€10,690
Cash 2025
€159,519
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €656,216,686 | €656,407,073 | +€190,388 | 0.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €655,630,613 | €655,641,303 | +€10,690 | 0.0% |
| Financial fixed assets | 28 | €655,630,613 | €655,641,303 | +€10,690 | 0.0% |
| Affiliated companies | 280/1 | €652,521,000 | €652,531,690 | +€10,690 | 0.0% |
| Participating interests | 280 | €652,521,000 | €652,531,690 | +€10,690 | 0.0% |
| Companies linked by participating interests | 282/3 | €3,109,613 | €3,109,613 | = | 0.0% |
| Participating interests | 282 | €3,109,613 | €3,109,613 | = | 0.0% |
| Current assets | 29/58 | €586,073 | €765,770 | +€179,698 | +30.7% |
| Amounts receivable within one year | 40/41 | €1,280 | €98,402 | +€97,122 | +7586.5% |
| Other amounts receivable | 41 | €1,280 | €98,402 | +€97,122 | +7586.5% |
| Current investments | 50/53 | €500,000 | €500,000 | = | 0.0% |
| Other investments | 51/53 | €500,000 | €500,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €76,530 | €159,519 | +€82,989 | +108.4% |
| Deferred charges and accrued income | 490/1 | €8,262 | €7,849 | -€413 | -5.0% |
| Total equity and liabilities | 10/49 | €656,216,686 | €656,407,073 | +€190,388 | 0.0% |
| Equity | 10/15 | €656,094,854 | €656,223,058 | +€128,205 | 0.0% |
| Contributions | 10/11 | €560,195,950 | €560,195,950 | = | 0.0% |
| Capital | 10 | €560,195,950 | €560,195,950 | = | 0.0% |
| Issued capital | 100 | €560,195,950 | €560,195,950 | = | 0.0% |
| Reserves | 13 | €24,947,114 | €24,953,524 | +€6,410 | 0.0% |
| Non-distributable reserves | 130/1 | €3,734,305 | €3,740,715 | +€6,410 | +0.2% |
| Legal reserve | 130 | €3,734,305 | €3,740,715 | +€6,410 | +0.2% |
| Tax-exempt reserves | 132 | €21,212,809 | €21,212,809 | = | 0.0% |
| Profit (loss) carried forward | 14 | €70,951,790 | €71,073,585 | +€121,794 | +0.2% |
| Amounts payable | 17/49 | €121,832 | €184,015 | +€62,183 | +51.0% |
| Amounts payable within one year | 42/48 | €121,832 | €184,015 | +€62,183 | +51.0% |
| Trade debts | 44 | €121,832 | €65,494 | -€56,337 | -46.2% |
| Suppliers | 440/4 | €121,832 | €65,494 | -€56,337 | -46.2% |
| Other amounts payable | 47/48 | - | €118,520 | +€118,520 | |
| Operating income | 70/76A | - | €1,409 | +€1,409 | |
| Other operating income | 74 | - | €1,409 | +€1,409 | |
| Operating charges | 60/66A | €410,549 | €137,802 | -€272,747 | -66.4% |
| Services and other goods | 61 | €405,329 | €135,616 | -€269,713 | -66.5% |
| Other operating charges | 640/8 | €220 | €2,186 | +€1,966 | +893.6% |
| Non-recurring operating charges | 66A | €5,000 | - | -€5,000 | |
| Operating profit (loss) | 9901 | -€410,549 | -€136,393 | +€274,156 | +66.8% |
| Financial income | 75/76B | €96,384,011 | €265,634 | -€96.1m | -99.7% |
| Recurring financial income | 75 | €63,503 | €265,634 | +€202,131 | +318.3% |
| Income from financial fixed assets | 750 | - | €257,847 | +€257,847 | |
| Income from current assets | 751 | €4,267 | €7,787 | +€3,520 | +82.5% |
| Other financial income | 752/9 | €59,235 | - | -€59,235 | |
| Non-recurring financial income | 76B | €96,320,509 | - | -€96.3m | |
| Financial charges | 65/66B | €591 | €1,036 | +€445 | +75.3% |
| Recurring financial charges | 65 | €591 | €1,036 | +€445 | +75.3% |
| Other financial charges | 652/9 | €591 | €1,036 | +€445 | +75.3% |
| Profit (loss) for the period before taxes | 9903 | €95,972,871 | €128,205 | -€95.8m | -99.9% |
| Income taxes | 67/77 | €0 | €0 | = | |
| Taxes | 670/3 | €0 | €0 | = | |
| Profit (loss) for the period | 9904 | €95,972,871 | €128,205 | -€95.8m | -99.9% |
| Transfer to tax-exempt reserves | 689 | €21,212,809 | - | -€21.2m | |
| Profit (loss) for the period to be appropriated | 9905 | €74,760,062 | €128,205 | -€74.6m | -99.8% |
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 12 October 2026 via checked.be.