M.E.C.: what changed
Two fiscal 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.
M.E.C.
Largest movements
- Receivables within one year +€70,194
up €70,194 (+21.9%), from €320,842 to €391,035
of which Other amounts receivable: +€42,666
- Cash +€33,511
up €33,511 (+30.4%), from €110,357 to €143,868
mainly Net result for the year (+€103,229) and Depreciation (+€9,291)
- Reserves +€103,229
up €103,229 (+25.7%), from €401,586 to €504,815
of which Distributable reserves: +€105,779
- Gross operating margin +€40,130
up €40,130 (+30.3%), from €132,606 to €172,737
- Taxes +€13,774
up €13,774 (+38.6%), from €35,665 to €49,440
- Staff costs -€11,625
down €11,625 (-31.4%), from €37,065 to €25,441
- Provisions +€6,000
up €6,000, from -€6,000 to €0
- Depreciation +€1,908
up €1,908 (+25.8%), from €7,383 to €9,291
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 | €449,706 | €552,267 | +€102,561 | +22.8% |
| Fixed assets | 21/28 | €18,508 | €15,969 | -€2,539 | -13.7% |
| Tangible fixed assets | 22/27 | €16,508 | €13,969 | -€2,539 | -15.4% |
| Land and buildings | 22 | €4,922 | €7,369 | +€2,447 | +49.7% |
| Plant, machinery and equipment | 23 | €6,557 | €4,019 | -€2,538 | -38.7% |
| Furniture and vehicles | 24 | €5,029 | €2,582 | -€2,447 | -48.7% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €431,198 | €536,298 | +€105,099 | +24.4% |
| Amounts receivable within one year | 40/41 | €320,842 | €391,035 | +€70,194 | +21.9% |
| Trade receivables | 40 | €2,645 | €30,172 | +€27,528 | +1040.9% |
| Other amounts receivable | 41 | €318,197 | €360,863 | +€42,666 | +13.4% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €110,357 | €143,868 | +€33,511 | +30.4% |
| Deferred charges and accrued income | 490/1 | - | €1,395 | +€1,395 | |
| Total equity and liabilities | 10/49 | €449,706 | €552,267 | +€102,561 | +22.8% |
| Equity | 10/15 | €432,014 | €535,243 | +€103,229 | +23.9% |
| Contributions | 10/11 | €30,428 | €30,428 | = | 0.0% |
| Reserves | 13 | €401,586 | €504,815 | +€103,229 | +25.7% |
| Non-distributable reserves | 130/1 | €3,050 | €500 | -€2,550 | -83.6% |
| Reserves not available under the articles | 1311 | €3,050 | €500 | -€2,550 | -83.6% |
| Distributable reserves | 133 | €398,536 | €504,315 | +€105,779 | +26.5% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Environmental obligations | 163 | €0 | - | = | |
| Amounts payable | 17/49 | €17,692 | €17,024 | -€668 | -3.8% |
| Amounts payable within one year | 42/48 | €17,692 | €17,024 | -€668 | -3.8% |
| Trade debts | 44 | €4,281 | €1,009 | -€3,272 | -76.4% |
| Suppliers | 440/4 | €4,281 | €1,009 | -€3,272 | -76.4% |
| Taxes, remuneration and social security | 45 | €13,411 | €16,015 | +€2,604 | +19.4% |
| Taxes | 450/3 | €9,254 | €16,015 | +€6,762 | +73.1% |
| Remuneration and social security | 454/9 | €4,157 | €0 | -€4,157 | -100.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €37,065 | €25,441 | -€11,625 | -31.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,383 | €9,291 | +€1,908 | +25.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€6,000 | €0 | +€6,000 | |
| Other operating charges | 640/8 | €3,399 | €4,329 | +€930 | +27.4% |
| Gross operating margin | 9900 | €132,606 | €172,737 | +€40,130 | +30.3% |
| Operating profit (loss) | 9901 | €90,759 | €133,676 | +€42,917 | +47.3% |
| Financial income | 75/76B | €17,483 | €19,043 | +€1,560 | +8.9% |
| Recurring financial income | 75 | €17,483 | €19,043 | +€1,560 | +8.9% |
| Financial charges | 65/66B | €208 | €50 | -€158 | -75.8% |
| Recurring financial charges | 65 | €208 | €50 | -€158 | -75.8% |
| Profit (loss) for the period before taxes | 9903 | €108,033 | €152,668 | +€44,635 | +41.3% |
| Income taxes | 67/77 | €35,665 | €49,440 | +€13,774 | +38.6% |
| Profit (loss) for the period | 9904 | €72,368 | €103,229 | +€30,861 | +42.6% |
| Profit (loss) for the period to be appropriated | 9905 | €72,368 | €103,229 | +€30,861 | +42.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.