MEYER - ANTWERP: what changed
Two fiscal 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.
MEYER - ANTWERP
Largest movements
- Receivables within one year +€257,769
up €257,769 (+44.2%), from €583,528 to €841,298
of which Trade receivables: +€277,837
- Cash -€168,680
down €168,680 (-39.1%), from €431,796 to €263,115
mainly Receivables within one year (-€257,769) and Debts after one year (-€64,862)
- Intangible fixed assets -€32,194
down €32,194 (-28.3%), from €113,730 to €81,536
- Tangible fixed assets -€21,441
down €21,441 (-3.5%), from €614,378 to €592,937
of which Land and buildings: -€21,627
- Accrued charges and deferred income +€83,354
up €83,354 (+250.4%), from €33,294 to €116,648
- Debts after one year -€64,862
down €64,862 (-16.7%), from €389,447 to €324,586
- Tax, wage and social debts +€47,976
up €47,976 (+69.2%), from €69,332 to €117,308
of which Taxes: +€44,780
- Staff costs +€134,369
up €134,369 (+40.9%), from €328,184 to €462,553
- Gross operating margin +€90,567
up €90,567 (+18.7%), from €484,867 to €575,434
- Taxes -€5,784
down €5,784 (-32.4%), from €17,839 to €12,055
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,802,404 | €1,856,428 | +€54,024 | +3.0% |
| Fixed assets | 21/28 | €730,547 | €676,911 | -€53,636 | -7.3% |
| Intangible fixed assets | 21 | €113,730 | €81,536 | -€32,194 | -28.3% |
| Tangible fixed assets | 22/27 | €614,378 | €592,937 | -€21,441 | -3.5% |
| Land and buildings | 22 | €593,020 | €571,393 | -€21,627 | -3.6% |
| Plant, machinery and equipment | 23 | €57 | - | -€57 | |
| Furniture and vehicles | 24 | €21,302 | €21,544 | +€242 | +1.1% |
| Financial fixed assets | 28 | €2,438 | €2,438 | = | 0.0% |
| Current assets | 29/58 | €1,071,857 | €1,179,516 | +€107,659 | +10.0% |
| Stocks and contracts in progress | 3 | €41,526 | €45,988 | +€4,462 | +10.7% |
| Stocks | 30/36 | €41,526 | €45,988 | +€4,462 | +10.7% |
| Amounts receivable within one year | 40/41 | €583,528 | €841,298 | +€257,769 | +44.2% |
| Trade receivables | 40 | €530,204 | €808,041 | +€277,837 | +52.4% |
| Other amounts receivable | 41 | €53,324 | €33,257 | -€20,068 | -37.6% |
| Cash at bank and in hand | 54/58 | €431,796 | €263,115 | -€168,680 | -39.1% |
| Deferred charges and accrued income | 490/1 | €15,007 | €29,116 | +€14,108 | +94.0% |
| Total equity and liabilities | 10/49 | €1,802,404 | €1,856,428 | +€54,024 | +3.0% |
| Equity | 10/15 | €776,529 | €778,610 | +€2,080 | +0.3% |
| Contributions | 10/11 | €306,487 | €306,487 | = | 0.0% |
| Reserves | 13 | €467,710 | €467,710 | = | 0.0% |
| Tax-exempt reserves | 132 | €124 | €124 | = | 0.0% |
| Distributable reserves | 133 | €467,586 | €467,586 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,332 | €4,412 | +€2,080 | +89.2% |
| Amounts payable | 17/49 | €1,025,875 | €1,077,818 | +€51,943 | +5.1% |
| Amounts payable after more than one year | 17 | €389,447 | €324,586 | -€64,862 | -16.7% |
| Financial debts | 170/4 | €389,447 | €324,586 | -€64,862 | -16.7% |
| Amounts payable within one year | 42/48 | €603,133 | €636,584 | +€33,451 | +5.5% |
| Current portion of amounts payable after more than one year | 42 | €63,268 | €64,862 | +€1,594 | +2.5% |
| Financial debts | 43 | €6,867 | €6,868 | +€1 | 0.0% |
| Credit institutions | 430/8 | €6,867 | €6,868 | +€1 | 0.0% |
| Trade debts | 44 | €463,666 | €447,546 | -€16,121 | -3.5% |
| Suppliers | 440/4 | €463,666 | €447,546 | -€16,121 | -3.5% |
| Taxes, remuneration and social security | 45 | €69,332 | €117,308 | +€47,976 | +69.2% |
| Taxes | 450/3 | €39,281 | €84,061 | +€44,780 | +114.0% |
| Remuneration and social security | 454/9 | €30,051 | €33,248 | +€3,197 | +10.6% |
| Accrued charges and deferred income | 492/3 | €33,294 | €116,648 | +€83,354 | +250.4% |
| Remuneration, social security and pensions | 62 | €328,184 | €462,553 | +€134,369 | +40.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,887 | €78,399 | -€3,488 | -4.3% |
| Other operating charges | 640/8 | €6,559 | €6,993 | +€434 | +6.6% |
| Gross operating margin | 9900 | €484,867 | €575,434 | +€90,567 | +18.7% |
| Operating profit (loss) | 9901 | €68,237 | €27,489 | -€40,748 | -59.7% |
| Financial income | 75/76B | €280 | €2,833 | +€2,553 | +911.5% |
| Recurring financial income | 75 | €280 | €2,833 | +€2,553 | +911.5% |
| Financial charges | 65/66B | €15,685 | €16,186 | +€501 | +3.2% |
| Recurring financial charges | 65 | €15,685 | €16,186 | +€501 | +3.2% |
| Profit (loss) for the period before taxes | 9903 | €52,832 | €14,135 | -€38,696 | -73.2% |
| Income taxes | 67/77 | €17,839 | €12,055 | -€5,784 | -32.4% |
| Profit (loss) for the period | 9904 | €34,993 | €2,080 | -€32,913 | -94.1% |
| Profit (loss) for the period to be appropriated | 9905 | €34,993 | €2,080 | -€32,913 | -94.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.