MEUSE VIEW BUILD: 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 VIEW BUILD
Largest movements
- Stocks and contracts -€2.2m
down €2.2m (-25.5%), from €8.8m to €6.6m
- Receivables within one year +€99,003
up €99,003 (+50.4%), from €196,542 to €295,545
of which Trade receivables: +€103,765
- Debts after one year -€1.6m
down €1.6m (-50.8%), from €3.1m to €1.5m
- Short-term financial debts -€550,327
down €550,327 (-100%), from €550,327 to €0
- Other debts +€377,727
up €377,727 (+9.8%), from €3.9m to €4.2m
- Trade debts -€196,323
down €196,323 (-15.9%), from €1.2m to €1.0m
- Tax, wage and social debts -€129,011
down €129,011 (-71.1%), from €181,512 to €52,501
- Gross operating margin -€385,211
down €385,211 (-71.9%), from €536,020 to €150,810
- Financial charges -€343,309
down €343,309 (-63.2%), from €542,813 to €199,504
- Financial income +€47,709
up €47,709 (+77,349%), from €62 to €47,771
- Other operating charges +€9,179
up €9,179 (+804%), from €1,142 to €10,321
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 | €8,986,542 | €6,881,815 | -€2.1m | -23.4% |
| Current assets | 29/58 | €8,986,542 | €6,881,815 | -€2.1m | -23.4% |
| Stocks and contracts in progress | 3 | €8,790,000 | €6,552,544 | -€2.2m | -25.5% |
| Stocks | 30/36 | €8,790,000 | €6,552,544 | -€2.2m | -25.5% |
| Amounts receivable within one year | 40/41 | €196,542 | €295,545 | +€99,003 | +50.4% |
| Trade receivables | 40 | €172,383 | €276,149 | +€103,765 | +60.2% |
| Other amounts receivable | 41 | €24,159 | €19,397 | -€4,762 | -19.7% |
| Cash at bank and in hand | 54/58 | €0 | €33,726 | +€33,726 | |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €8,986,542 | €6,881,815 | -€2.1m | -23.4% |
| Equity | 10/15 | €29,175 | €12,244 | -€16,931 | -58.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,175 | -€7,756 | -€16,931 | |
| Amounts payable | 17/49 | €8,957,366 | €6,869,571 | -€2.1m | -23.3% |
| Amounts payable after more than one year | 17 | €3,130,205 | €1,540,343 | -€1.6m | -50.8% |
| Financial debts | 170/4 | €3,130,205 | €1,540,343 | -€1.6m | -50.8% |
| Amounts payable within one year | 42/48 | €5,827,162 | €5,329,228 | -€497,934 | -8.5% |
| Financial debts | 43 | €550,327 | €0 | -€550,327 | -100% |
| Credit institutions | 430/8 | €550,327 | €0 | -€550,327 | -100% |
| Trade debts | 44 | €1,238,336 | €1,042,013 | -€196,323 | -15.9% |
| Suppliers | 440/4 | €1,238,336 | €1,042,013 | -€196,323 | -15.9% |
| Taxes, remuneration and social security | 45 | €181,512 | €52,501 | -€129,011 | -71.1% |
| Taxes | 450/3 | €181,512 | €52,501 | -€129,011 | -71.1% |
| Other amounts payable | 47/48 | €3,856,987 | €4,234,714 | +€377,727 | +9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €1,142 | €10,321 | +€9,179 | +804% |
| Gross operating margin | 9900 | €536,020 | €150,810 | -€385,211 | -71.9% |
| Operating profit (loss) | 9901 | €534,878 | €140,489 | -€394,389 | -73.7% |
| Financial income | 75/76B | €62 | €47,771 | +€47,709 | +77,349% |
| Recurring financial income | 75 | €62 | €47,771 | +€47,709 | +77,349% |
| Financial charges | 65/66B | €542,813 | €199,504 | -€343,309 | -63.2% |
| Recurring financial charges | 65 | €542,813 | €199,504 | -€343,309 | -63.2% |
| Profit (loss) for the period before taxes | 9903 | -€7,873 | -€11,244 | -€3,371 | -42.8% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€7,873 | -€11,244 | -€3,371 | -42.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,873 | -€11,244 | -€3,371 | -42.8% |
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 28 October 2026 via checked.be.