Project Meiboom: 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.
Project Meiboom
Largest movements
- Stocks and contracts -€1.1m
down €1.1m (-96.3%), from €1.1m to €41,858
- Cash +€66,718
up €66,718 (+1226.0%), from €5,442 to €72,160
mainly Stocks and contracts (+€1.1m) and Net result for the year (+€224,754)
- Receivables within one year +€39,177
up €39,177 (+398.6%), from €9,830 to €49,006
of which Trade receivables: +€39,177
- Tangible fixed assets -€24,234
down €24,234 (-2.7%), from €912,012 to €887,778
- Other debts -€960,162
down €960,162 (-49.7%), from €1.9m to €971,840
- Tax, wage and social debts -€47,118
down €47,118 (-80.9%), from €58,232 to €11,114
- Gross operating margin -€179,233
down €179,233 (-34.1%), from €525,561 to €346,328
- Financial charges -€33,350
down €33,350 (-60.0%), from €55,596 to €22,246
- Taxes -€12,752
down €12,752 (-14.5%), from €87,670 to €74,918
- Depreciation +€11,957
up €11,957 (+97.4%), from €12,277 to €24,234
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 | €2,054,425 | €1,050,803 | -€1.0m | -48.9% |
| Fixed assets | 21/28 | €912,012 | €887,778 | -€24,234 | -2.7% |
| Tangible fixed assets | 22/27 | €912,012 | €887,778 | -€24,234 | -2.7% |
| Land and buildings | 22 | €912,012 | €887,778 | -€24,234 | -2.7% |
| Current assets | 29/58 | €1,142,414 | €163,025 | -€979,389 | -85.7% |
| Stocks and contracts in progress | 3 | €1,127,142 | €41,858 | -€1.1m | -96.3% |
| Stocks | 30/36 | €1,127,142 | €41,858 | -€1.1m | -96.3% |
| Amounts receivable within one year | 40/41 | €9,830 | €49,006 | +€39,177 | +398.6% |
| Trade receivables | 40 | €8,480 | €47,656 | +€39,177 | +462.0% |
| Other amounts receivable | 41 | €1,350 | €1,350 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €5,442 | €72,160 | +€66,718 | +1226.0% |
| Total equity and liabilities | 10/49 | €2,054,425 | €1,050,803 | -€1.0m | -48.9% |
| Equity | 10/15 | €64,191 | €60,945 | -€3,246 | -5.1% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,191 | €945 | -€3,246 | -77.4% |
| Amounts payable | 17/49 | €1,990,234 | €989,858 | -€1.0m | -50.3% |
| Amounts payable within one year | 42/48 | €1,990,234 | €983,378 | -€1.0m | -50.6% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €0 | €424 | +€424 | |
| Suppliers | 440/4 | €0 | €424 | +€424 | |
| Taxes, remuneration and social security | 45 | €58,232 | €11,114 | -€47,118 | -80.9% |
| Taxes | 450/3 | €58,232 | €11,114 | -€47,118 | -80.9% |
| Other amounts payable | 47/48 | €1,932,003 | €971,840 | -€960,162 | -49.7% |
| Accrued charges and deferred income | 492/3 | - | €6,480 | +€6,480 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,277 | €24,234 | +€11,957 | +97.4% |
| Other operating charges | 640/8 | €115 | €176 | +€61 | +52.9% |
| Gross operating margin | 9900 | €525,561 | €346,328 | -€179,233 | -34.1% |
| Operating profit (loss) | 9901 | €513,169 | €321,918 | -€191,251 | -37.3% |
| Financial income | 75/76B | €182 | €0 | -€182 | -100.0% |
| Recurring financial income | 75 | €182 | €0 | -€182 | -100.0% |
| Financial charges | 65/66B | €55,596 | €22,246 | -€33,350 | -60.0% |
| Recurring financial charges | 65 | €55,596 | €22,246 | -€33,350 | -60.0% |
| Profit (loss) for the period before taxes | 9903 | €457,754 | €299,672 | -€158,082 | -34.5% |
| Income taxes | 67/77 | €87,670 | €74,918 | -€12,752 | -14.5% |
| Profit (loss) for the period | 9904 | €370,084 | €224,754 | -€145,330 | -39.3% |
| Profit (loss) for the period to be appropriated | 9905 | €370,084 | €224,754 | -€145,330 | -39.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.