MICHAEL MEULYZER: 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.
MICHAEL MEULYZER
Largest movements
- Receivables within one year -€47,921
down €47,921 (-99.9%), from €47,948 to €26
- Cash +€17,580
up €17,580 (+1,382%), from €1,272 to €18,852
mainly Net result for the year (+€99,256) and Receivables within one year (+€47,921)
- Other debts -€115,000
down €115,000 (-92.0%), from €125,000 to €10,000
- Reserves +€89,256
up €89,256 (+55.7%), from €160,366 to €249,622
of which Distributable reserves: +€89,256
- Trade debts -€4,638
down €4,638 (-87.5%), from €5,299 to €661
- Financial income +€32,471
up €32,471 (+43.3%), from €74,970 to €107,441
- Purchases and services +€6,850
new in 2025: €6,850
- Gross operating margin +€959
up €959 (+12.3%), from -€7,809 to -€6,850
- Financial charges +€542
up €542 (+199%), from €272 to €815
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 | €310,220 | €279,878 | -€30,341 | -9.8% |
| Fixed assets | 21/28 | €261,000 | €261,000 | = | 0.0% |
| Financial fixed assets | 28 | €261,000 | €261,000 | = | 0.0% |
| Current assets | 29/58 | €49,220 | €18,878 | -€30,341 | -61.6% |
| Amounts receivable within one year | 40/41 | €47,948 | €26 | -€47,921 | -99.9% |
| Other amounts receivable | 41 | €47,948 | €26 | -€47,921 | -99.9% |
| Cash at bank and in hand | 54/58 | €1,272 | €18,852 | +€17,580 | +1,382% |
| Total equity and liabilities | 10/49 | €310,220 | €279,878 | -€30,341 | -9.8% |
| Equity | 10/15 | €178,966 | €268,222 | +€89,256 | +49.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €160,366 | €249,622 | +€89,256 | +55.7% |
| Tax-exempt reserves | 132 | €181 | €181 | = | 0.0% |
| Distributable reserves | 133 | €160,185 | €249,441 | +€89,256 | +55.7% |
| Amounts payable | 17/49 | €131,254 | €11,656 | -€119,598 | -91.1% |
| Amounts payable within one year | 42/48 | €130,299 | €10,661 | -€119,638 | -91.8% |
| Trade debts | 44 | €5,299 | €661 | -€4,638 | -87.5% |
| Suppliers | 440/4 | €5,299 | €661 | -€4,638 | -87.5% |
| Other amounts payable | 47/48 | €125,000 | €10,000 | -€115,000 | -92.0% |
| Accrued charges and deferred income | 492/3 | €955 | €995 | +€41 | +4.3% |
| Goods, raw materials, services and sundry goods | 60/61 | - | €6,850 | +€6,850 | |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | -€7,809 | -€6,850 | +€959 | +12.3% |
| Operating profit (loss) | 9901 | -€8,315 | -€7,370 | +€945 | +11.4% |
| Financial income | 75/76B | €74,970 | €107,441 | +€32,471 | +43.3% |
| Recurring financial income | 75 | €74,970 | €107,441 | +€32,471 | +43.3% |
| Financial charges | 65/66B | €272 | €815 | +€542 | +199% |
| Recurring financial charges | 65 | €272 | €815 | +€542 | +199% |
| Profit (loss) for the period before taxes | 9903 | €66,383 | €99,256 | +€32,873 | +49.5% |
| Profit (loss) for the period | 9904 | €66,383 | €99,256 | +€32,873 | +49.5% |
| Profit (loss) for the period to be appropriated | 9905 | €66,383 | €99,256 | +€32,873 | +49.5% |
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 17 October 2026 via checked.be.