THOMAS MEURANT: 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.
THOMAS MEURANT
Largest movements
- Cash +€30,980
up €30,980 (+40.9%), from €75,767 to €106,747
mainly Net result for the year (+€54,973) and Deferred charges and accrued income (+€11,900)
- Receivables within one year +€27,814
up €27,814 (+111%), from €25,130 to €52,945
of which Trade receivables: +€16,173
- Deferred charges and accrued income -€11,900
down €11,900 (-75.5%), from €15,771 to €3,871
- Profit (loss) carried forward +€54,973
up €54,973 (+59.7%), from €92,015 to €146,987
- Tax, wage and social debts -€6,979
down €6,979 (-77.4%), from €9,013 to €2,034
- Current portion of long-term debt -€1,698
no longer reported in 2025 (was €1,698)
- Gross operating margin +€6,227
up €6,227 (+9.3%), from €67,165 to €73,392
- Taxes +€3,703
up €3,703 (+30.0%), from €12,332 to €16,034
- Other operating charges -€3,335
down €3,335 (-82.1%), from €4,061 to €727
- Financial income +€866
up €866 (+2,887,200%), from €0 to €866
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 | €117,109 | €163,874 | +€46,766 | +39.9% |
| Fixed assets | 21/28 | €441 | €312 | -€128 | -29.1% |
| Tangible fixed assets | 22/27 | €441 | €312 | -€128 | -29.1% |
| Furniture and vehicles | 24 | €441 | €312 | -€128 | -29.1% |
| Current assets | 29/58 | €116,668 | €163,562 | +€46,894 | +40.2% |
| Amounts receivable within one year | 40/41 | €25,130 | €52,945 | +€27,814 | +111% |
| Trade receivables | 40 | €12,367 | €28,540 | +€16,173 | +131% |
| Other amounts receivable | 41 | €12,763 | €24,404 | +€11,641 | +91.2% |
| Cash at bank and in hand | 54/58 | €75,767 | €106,747 | +€30,980 | +40.9% |
| Deferred charges and accrued income | 490/1 | €15,771 | €3,871 | -€11,900 | -75.5% |
| Total equity and liabilities | 10/49 | €117,109 | €163,874 | +€46,766 | +39.9% |
| Equity | 10/15 | €105,916 | €160,888 | +€54,973 | +51.9% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €13,900 | €13,900 | = | 0.0% |
| Distributable reserves | 133 | €13,900 | €13,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | €92,015 | €146,987 | +€54,973 | +59.7% |
| Amounts payable | 17/49 | €11,193 | €2,986 | -€8,207 | -73.3% |
| Amounts payable within one year | 42/48 | €11,193 | €2,873 | -€8,320 | -74.3% |
| Current portion of amounts payable after more than one year | 42 | €1,698 | - | -€1,698 | |
| Trade debts | 44 | €457 | €814 | +€357 | +78.1% |
| Suppliers | 440/4 | €457 | €814 | +€357 | +78.1% |
| Taxes, remuneration and social security | 45 | €9,013 | €2,034 | -€6,979 | -77.4% |
| Taxes | 450/3 | €9,013 | €2,034 | -€6,979 | -77.4% |
| Other amounts payable | 47/48 | €25 | €25 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €113 | +€113 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €128 | €128 | = | 0.0% |
| Other operating charges | 640/8 | €4,061 | €727 | -€3,335 | -82.1% |
| Gross operating margin | 9900 | €67,165 | €73,392 | +€6,227 | +9.3% |
| Operating profit (loss) | 9901 | €62,975 | €72,537 | +€9,562 | +15.2% |
| Financial income | 75/76B | €0 | €866 | +€866 | +2,887,200% |
| Recurring financial income | 75 | €0 | €866 | +€866 | +2,887,200% |
| Financial charges | 65/66B | €2,707 | €2,396 | -€311 | -11.5% |
| Recurring financial charges | 65 | €2,707 | €2,396 | -€311 | -11.5% |
| Profit (loss) for the period before taxes | 9903 | €60,268 | €71,007 | +€10,739 | +17.8% |
| Income taxes | 67/77 | €12,332 | €16,034 | +€3,703 | +30.0% |
| Profit (loss) for the period | 9904 | €47,936 | €54,973 | +€7,036 | +14.7% |
| Profit (loss) for the period to be appropriated | 9905 | €47,936 | €54,973 | +€7,036 | +14.7% |
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 24 October 2026 via checked.be.