Atelier Menzel: 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.
Atelier Menzel
Largest movements
- Cash -€17,300
down €17,300 (-38.5%), from €44,966 to €27,666
mainly Net result for the year (-€17,130) and Investment in fixed assets (net) (-€15,997)
- Receivables within one year -€8,457
down €8,457 (-13.6%), from €62,359 to €53,902
of which Trade receivables: -€7,384
- Profit (loss) carried forward -€17,130
down €17,130 (-80.1%), from €21,387 to €4,257
- Debts after one year -€12,873
down €12,873 (-9.3%), from €138,998 to €126,125
- Gross operating margin -€55,018
down €55,018 (-74.9%), from €73,438 to €18,420
- Staff costs -€33,865
down €33,865 (-82.6%), from €40,990 to €7,125
- Financial income -€10,479
down €10,479 (-98.7%), from €10,618 to €139
- Taxes -€932
no longer reported in 2025 (was €932)
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 | €311,783 | €282,167 | -€29,616 | -9.5% |
| Fixed assets | 21/28 | €200,911 | €198,275 | -€2,636 | -1.3% |
| Intangible fixed assets | 21 | €1,124 | €0 | -€1,124 | -100% |
| Tangible fixed assets | 22/27 | €198,437 | €196,925 | -€1,512 | -0.8% |
| Land and buildings | 22 | €187,211 | €193,152 | +€5,941 | +3.2% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €11,227 | €3,773 | -€7,454 | -66.4% |
| Financial fixed assets | 28 | €1,350 | €1,350 | = | 0.0% |
| Current assets | 29/58 | €110,872 | €83,892 | -€26,980 | -24.3% |
| Amounts receivable within one year | 40/41 | €62,359 | €53,902 | -€8,457 | -13.6% |
| Trade receivables | 40 | €61,286 | €53,902 | -€7,384 | -12.0% |
| Other amounts receivable | 41 | €1,073 | - | -€1,073 | |
| Cash at bank and in hand | 54/58 | €44,966 | €27,666 | -€17,300 | -38.5% |
| Deferred charges and accrued income | 490/1 | €3,548 | €2,324 | -€1,224 | -34.5% |
| Total equity and liabilities | 10/49 | €311,783 | €282,167 | -€29,616 | -9.5% |
| Equity | 10/15 | €116,847 | €99,717 | -€17,130 | -14.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €76,860 | €76,860 | = | 0.0% |
| Distributable reserves | 133 | €76,860 | €76,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,387 | €4,257 | -€17,130 | -80.1% |
| Amounts payable | 17/49 | €194,936 | €182,450 | -€12,486 | -6.4% |
| Amounts payable after more than one year | 17 | €138,998 | €126,125 | -€12,873 | -9.3% |
| Financial debts | 170/4 | €138,998 | €126,125 | -€12,873 | -9.3% |
| Amounts payable within one year | 42/48 | €55,938 | €56,325 | +€387 | +0.7% |
| Current portion of amounts payable after more than one year | 42 | €12,602 | €12,873 | +€271 | +2.1% |
| Trade debts | 44 | €3,788 | €3,042 | -€746 | -19.7% |
| Suppliers | 440/4 | €3,788 | €3,042 | -€746 | -19.7% |
| Taxes, remuneration and social security | 45 | €11,623 | €13,854 | +€2,231 | +19.2% |
| Taxes | 450/3 | €8,512 | €10,084 | +€1,572 | +18.5% |
| Remuneration and social security | 454/9 | €3,111 | €3,769 | +€659 | +21.2% |
| Other amounts payable | 47/48 | €27,925 | €26,556 | -€1,369 | -4.9% |
| Non-recurring operating income | 76A | - | €4,694 | +€4,694 | |
| Remuneration, social security and pensions | 62 | €40,990 | €7,125 | -€33,865 | -82.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,897 | €18,634 | -€263 | -1.4% |
| Other operating charges | 640/8 | €2,503 | €2,555 | +€52 | +2.1% |
| Non-recurring operating charges | 66A | - | €4,353 | +€4,353 | |
| Gross operating margin | 9900 | €73,438 | €18,420 | -€55,018 | -74.9% |
| Operating profit (loss) | 9901 | €11,048 | -€14,247 | -€25,295 | |
| Financial income | 75/76B | €10,618 | €139 | -€10,479 | -98.7% |
| Recurring financial income | 75 | €10,618 | €139 | -€10,479 | -98.7% |
| Financial charges | 65/66B | €3,299 | €3,022 | -€277 | -8.4% |
| Recurring financial charges | 65 | €3,299 | €3,022 | -€277 | -8.4% |
| Profit (loss) for the period before taxes | 9903 | €18,367 | -€17,130 | -€35,497 | |
| Income taxes | 67/77 | €932 | - | -€932 | |
| Profit (loss) for the period | 9904 | €17,435 | -€17,130 | -€34,565 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,435 | -€17,130 | -€34,565 |
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 25 October 2026 via checked.be.