NEW MEAT: 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.
NEW MEAT
Largest movements
- Receivables within one year -€3.0m
down €3.0m (-92.1%), from €3.3m to €261,438
of which Other amounts receivable: -€3.1m
- Financial fixed assets +€2.4m
up €2.4m (+656,294%), from €366 to €2.4m
- Tangible fixed assets +€1.5m
up €1.5m (+253%), from €578,082 to €2.0m
of which Other tangible fixed assets: +€1.5m
- Receivables after one year +€718,750
new in 2025: €718,750
- Cash -€143,250
down €143,250 (-53.9%), from €265,858 to €122,608
mainly Investment in fixed assets (net) (-€3.9m) and Receivables after one year (-€718,750)
- Other debts +€1.3m
new in 2025: €1.3m
- Profit (loss) carried forward +€99,623
up €99,623 (+3.4%), from €2.9m to €3.0m
- Depreciation +€33,301
up €33,301 (+241%), from €13,829 to €47,131
- Taxes +€24,378
up €24,378 (+276%), from €8,830 to €33,208
- Financial income -€15,357
down €15,357 (-32.8%), from €46,860 to €31,503
- Gross operating margin +€8,553
up €8,553 (+5.6%), from €153,035 to €161,587
- Other operating charges +€2,827
up €2,827 (+19.1%), from €14,789 to €17,617
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 | €4,147,550 | €5,542,993 | +€1.4m | +33.6% |
| Fixed assets | 21/28 | €578,448 | €4,439,199 | +€3.9m | +667% |
| Tangible fixed assets | 22/27 | €578,082 | €2,038,833 | +€1.5m | +253% |
| Land and buildings | 22 | €577,165 | €541,834 | -€35,331 | -6.1% |
| Plant, machinery and equipment | 23 | €917 | €917 | = | 0.0% |
| Other tangible fixed assets | 26 | - | €1,496,082 | +€1.5m | |
| Financial fixed assets | 28 | €366 | €2,400,366 | +€2.4m | +656,294% |
| Current assets | 29/58 | €3,569,102 | €1,103,795 | -€2.5m | -69.1% |
| Amounts receivable after more than one year | 29 | - | €718,750 | +€718,750 | |
| Other amounts receivable | 291 | - | €718,750 | +€718,750 | |
| Amounts receivable within one year | 40/41 | €3,303,244 | €261,438 | -€3.0m | -92.1% |
| Trade receivables | 40 | €136,870 | €153,664 | +€16,794 | +12.3% |
| Other amounts receivable | 41 | €3,166,374 | €107,774 | -€3.1m | -96.6% |
| Cash at bank and in hand | 54/58 | €265,858 | €122,608 | -€143,250 | -53.9% |
| Deferred charges and accrued income | 490/1 | - | €998 | +€998 | |
| Total equity and liabilities | 10/49 | €4,147,550 | €5,542,993 | +€1.4m | +33.6% |
| Equity | 10/15 | €3,896,818 | €3,993,961 | +€97,143 | +2.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €922,612 | €920,133 | -€2,480 | -0.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €854,452 | €851,973 | -€2,480 | -0.3% |
| Distributable reserves | 133 | €61,960 | €61,960 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,912,205 | €3,011,828 | +€99,623 | +3.4% |
| Provisions and deferred taxes | 16 | €239,512 | €237,032 | -€2,480 | -1.0% |
| Deferred taxes | 168 | €239,512 | €237,032 | -€2,480 | -1.0% |
| Amounts payable | 17/49 | €11,221 | €1,312,001 | +€1.3m | +11,593% |
| Amounts payable within one year | 42/48 | €62 | €1,312,001 | +€1.3m | +2,118,422% |
| Trade debts | 44 | €4 | €11,569 | +€11,565 | +272,113% |
| Suppliers | 440/4 | €4 | €11,569 | +€11,565 | +272,113% |
| Taxes, remuneration and social security | 45 | €58 | - | -€58 | |
| Taxes | 450/3 | €58 | - | -€58 | |
| Other amounts payable | 47/48 | - | €1,300,432 | +€1.3m | |
| Accrued charges and deferred income | 492/3 | €11,159 | - | -€11,159 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,829 | €47,131 | +€33,301 | +241% |
| Other operating charges | 640/8 | €14,789 | €17,617 | +€2,827 | +19.1% |
| Gross operating margin | 9900 | €153,035 | €161,587 | +€8,553 | +5.6% |
| Operating profit (loss) | 9901 | €124,416 | €96,840 | -€27,576 | -22.2% |
| Financial income | 75/76B | €46,860 | €31,503 | -€15,357 | -32.8% |
| Recurring financial income | 75 | €46,860 | €31,503 | -€15,357 | -32.8% |
| Financial charges | 65/66B | €39 | €472 | +€433 | +1,108% |
| Recurring financial charges | 65 | €39 | €472 | +€433 | +1,108% |
| Profit (loss) for the period before taxes | 9903 | €171,237 | €127,871 | -€43,366 | -25.3% |
| Transfer from deferred taxes | 780 | - | €2,480 | +€2,480 | |
| Income taxes | 67/77 | €8,830 | €33,208 | +€24,378 | +276% |
| Profit (loss) for the period | 9904 | €162,407 | €97,143 | -€65,264 | -40.2% |
| Transfer from tax-exempt reserves | 789 | - | €2,480 | +€2,480 | |
| Profit (loss) for the period to be appropriated | 9905 | €162,407 | €99,623 | -€62,784 | -38.7% |
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 16 October 2026 via checked.be.