MEUSE OFFICE 2: 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.
MEUSE OFFICE 2
Largest movements
- Tangible fixed assets -€613,852
down €613,852 (-16.2%), from €3.8m to €3.2m
of which Assets under construction and advance payments: -€613,852
- Receivables within one year -€52,980
down €52,980 (-15.6%), from €340,532 to €287,553
of which Other amounts receivable: -€33,088
- Current portion of long-term debt +€1.4m
new in 2025: €1.4m
- Debts after one year -€1.1m
down €1.1m (-22.9%), from €4.7m to €3.6m
- Profit (loss) carried forward -€1.0m
down €1.0m (-156%), from -€658,799 to -€1.7m
- Trade debts +€99,083
up €99,083 (+273%), from €36,235 to €135,318
- Depreciation +€1.0m
new in 2025: €1.0m
- Financial income +€21,499
new in 2025: €21,499
- Gross operating margin +€11,756
up €11,756 (+60.4%), from -€19,476 to -€7,720
- Other operating charges -€956
down €956 (-48.2%), from €1,985 to €1,029
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 | €4,141,460 | €3,505,517 | -€635,943 | -15.4% |
| Fixed assets | 21/28 | €3,792,033 | €3,178,180 | -€613,852 | -16.2% |
| Tangible fixed assets | 22/27 | €3,792,033 | €3,178,180 | -€613,852 | -16.2% |
| Land and buildings | 22 | €808,801 | €808,801 | = | 0.0% |
| Assets under construction and advance payments | 27 | €2,983,232 | €2,369,379 | -€613,852 | -20.6% |
| Current assets | 29/58 | €349,427 | €327,336 | -€22,091 | -6.3% |
| Amounts receivable within one year | 40/41 | €340,532 | €287,553 | -€52,980 | -15.6% |
| Trade receivables | 40 | €19,919 | €28 | -€19,891 | -99.9% |
| Other amounts receivable | 41 | €320,613 | €287,525 | -€33,088 | -10.3% |
| Cash at bank and in hand | 54/58 | €8,895 | €39,783 | +€30,889 | +347% |
| Total equity and liabilities | 10/49 | €4,141,460 | €3,505,517 | -€635,943 | -15.4% |
| Equity | 10/15 | -€558,799 | -€1,586,897 | -€1.0m | -184% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€658,799 | -€1,686,897 | -€1.0m | -156% |
| Amounts payable | 17/49 | €4,700,259 | €5,092,414 | +€392,155 | +8.3% |
| Amounts payable after more than one year | 17 | €4,664,024 | €3,595,025 | -€1.1m | -22.9% |
| Financial debts | 170/4 | €4,664,024 | €3,595,025 | -€1.1m | -22.9% |
| Amounts payable within one year | 42/48 | €36,235 | €1,497,389 | +€1.5m | +4,032% |
| Current portion of amounts payable after more than one year | 42 | - | €1,362,071 | +€1.4m | |
| Trade debts | 44 | €36,235 | €135,318 | +€99,083 | +273% |
| Suppliers | 440/4 | €36,235 | €135,318 | +€99,083 | +273% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,040,000 | +€1.0m | |
| Other operating charges | 640/8 | €1,985 | €1,029 | -€956 | -48.2% |
| Gross operating margin | 9900 | -€19,476 | -€7,720 | +€11,756 | +60.4% |
| Operating profit (loss) | 9901 | -€21,461 | -€1,048,749 | -€1.0m | -4,787% |
| Financial income | 75/76B | - | €21,499 | +€21,499 | |
| Recurring financial income | 75 | - | €21,499 | +€21,499 | |
| Financial charges | 65/66B | €950 | €848 | -€102 | -10.7% |
| Recurring financial charges | 65 | €950 | €848 | -€102 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | -€22,411 | -€1,028,098 | -€1.0m | -4,488% |
| Profit (loss) for the period | 9904 | -€22,411 | -€1,028,098 | -€1.0m | -4,488% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,411 | -€1,028,098 | -€1.0m | -4,488% |
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 29 October 2026 via checked.be.