MEUSINSER: 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.
MEUSINSER
Largest movements
- Receivables within one year -€229,802
down €229,802 (-84.3%), from €272,558 to €42,756
of which Trade receivables: -€229,150
- Deferred charges and accrued income -€136,184
down €136,184 (-65.7%), from €207,328 to €71,144
- Other debts -€180,105
down €180,105 (-45.5%), from €396,020 to €215,915
- Profit (loss) carried forward -€119,029
down €119,029 (-142%), from -€83,546 to -€202,575
- Tax, wage and social debts -€40,015
down €40,015 (-42.8%), from €93,491 to €53,476
of which Remuneration and social security: -€36,586
- Provisions -€18,883
down €18,883 (-44.4%), from €42,570 to €23,688
- Gross operating margin -€433,509
down €433,509 (-51.8%), from €836,698 to €403,189
- Staff costs -€339,935
down €339,935 (-39.3%), from €865,381 to €525,446
- Provisions -€18,883
down €18,883, from €0 to -€18,883
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 | €489,087 | €124,775 | -€364,312 | -74.5% |
| Fixed assets | 21/28 | €2,710 | €1,773 | -€937 | -34.6% |
| Tangible fixed assets | 22/27 | €2,710 | €1,773 | -€937 | -34.6% |
| Plant, machinery and equipment | 23 | €2,710 | €1,773 | -€937 | -34.6% |
| Current assets | 29/58 | €486,377 | €123,002 | -€363,374 | -74.7% |
| Amounts receivable within one year | 40/41 | €272,558 | €42,756 | -€229,802 | -84.3% |
| Trade receivables | 40 | €270,634 | €41,485 | -€229,150 | -84.7% |
| Other amounts receivable | 41 | €1,924 | €1,271 | -€653 | -33.9% |
| Cash at bank and in hand | 54/58 | €6,490 | €9,102 | +€2,612 | +40.2% |
| Deferred charges and accrued income | 490/1 | €207,328 | €71,144 | -€136,184 | -65.7% |
| Total equity and liabilities | 10/49 | €489,087 | €124,775 | -€364,312 | -74.5% |
| Equity | 10/15 | -€63,086 | -€182,115 | -€119,029 | -189% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€83,546 | -€202,575 | -€119,029 | -142% |
| Provisions and deferred taxes | 16 | €42,570 | €23,688 | -€18,883 | -44.4% |
| Provisions for liabilities and charges | 160/5 | €42,570 | €23,688 | -€18,883 | -44.4% |
| Other liabilities and charges | 164/5 | €42,570 | €23,688 | -€18,883 | -44.4% |
| Amounts payable | 17/49 | €509,603 | €283,202 | -€226,400 | -44.4% |
| Amounts payable within one year | 42/48 | €493,706 | €270,911 | -€222,795 | -45.1% |
| Trade debts | 44 | €4,195 | €1,520 | -€2,675 | -63.8% |
| Suppliers | 440/4 | €4,195 | €1,520 | -€2,675 | -63.8% |
| Taxes, remuneration and social security | 45 | €93,491 | €53,476 | -€40,015 | -42.8% |
| Taxes | 450/3 | €5,001 | €1,571 | -€3,429 | -68.6% |
| Remuneration and social security | 454/9 | €88,490 | €51,904 | -€36,586 | -41.3% |
| Other amounts payable | 47/48 | €396,020 | €215,915 | -€180,105 | -45.5% |
| Accrued charges and deferred income | 492/3 | €15,896 | €12,291 | -€3,605 | -22.7% |
| Remuneration, social security and pensions | 62 | €865,381 | €525,446 | -€339,935 | -39.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €248 | €937 | +€690 | +278% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | -€18,883 | -€18,883 | |
| Other operating charges | 640/8 | €4,013 | €2,211 | -€1,802 | -44.9% |
| Gross operating margin | 9900 | €836,698 | €403,189 | -€433,509 | -51.8% |
| Operating profit (loss) | 9901 | -€32,944 | -€106,522 | -€73,578 | -223% |
| Financial charges | 65/66B | €16,892 | €12,506 | -€4,386 | -26.0% |
| Recurring financial charges | 65 | €16,372 | €12,506 | -€3,866 | -23.6% |
| Non-recurring financial charges | 66B | €520 | €0 | -€520 | -100% |
| Profit (loss) for the period before taxes | 9903 | -€49,837 | -€119,029 | -€69,192 | -139% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€49,837 | -€119,029 | -€69,192 | -139% |
| Profit (loss) for the period to be appropriated | 9905 | -€49,837 | -€119,029 | -€69,192 | -139% |
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 20 October 2026 via checked.be.