M&E Invest: 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.
What changed
M&E Invest
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€93,119
2024 · €115,981-€22,862
Equity
€1.6m
2024 · €1.6m-€16,881
Cash
€21,037
2024 · €22,243-€1,206
Balance sheet total
€2.6m
2024 · €2.8m-€197,209
Largest movements
Assets
- Receivables within one year -€227,124
down €227,124 (-58.6%), from €387,895 to €160,771
of which Trade receivables: -€179,729
- Tangible fixed assets +€37,149
up €37,149 (+160%), from €23,204 to €60,353
of which Other tangible fixed assets: +€38,279
Equity and liabilities
- Debts after one year -€267,802
down €267,802 (-34.1%), from €786,246 to €518,445
- Other debts +€110,000
up €110,000, from €0 to €110,000
- Tax, wage and social debts -€80,167
down €80,167 (-45.3%), from €176,905 to €96,738
- Trade debts +€61,224
up €61,224 (+617%), from €9,918 to €71,142
Income statement
- Turnover -€35,000
down €35,000 (-9.9%), from €355,068 to €320,068
- Services and other goods -€14,423
down €14,423 (-8.2%), from €176,724 to €162,301
- Taxes -€8,759
down €8,759 (-19.4%), from €45,063 to €36,304
- Financial charges +€7,489
up €7,489 (+27.4%), from €27,347 to €34,836
- Financial income -€4,669
down €4,669 (-37.6%), from €12,424 to €7,755
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.
Result 2024
€115,981
Turnover
-€35,000
Other operating income
+€512
Services and other goods
+€14,423
Depreciation
+€617
Other operating charges
-€16
Financial income
-€4,669
Financial charges
-€7,489
Taxes
+€8,759
Result 2025
€93,119
raises the resultlowers the result
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.
From operations
+€419,001
Investment
-€39,064
Financing
-€381,143
Cash 2024
€22,243
From operations (derived)
+€419,001
Net result for the year
+€93,119
Depreciation
+€1,915
Receivables within one year
+€227,124
Deferred charges and accrued income
+€6,027
Trade debts
+€61,224
Tax, wage and social debts
-€80,167
Other debts
+€110,000
Accrued charges and deferred income
-€242
Investment (derived)
-€39,064
Investment in fixed assets (net)
-€39,064
Financing
-€381,143
Debts after one year
-€267,802
Current portion of long-term debt
-€3,341
Contributions, distributions and other
-€110,000
Cash 2025
€21,037
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,819,601 | €2,622,392 | -€197,209 | -7.0% |
| Fixed assets | 21/28 | €2,313,339 | €2,350,488 | +€37,149 | +1.6% |
| Tangible fixed assets | 22/27 | €23,204 | €60,353 | +€37,149 | +160% |
| Plant, machinery and equipment | 23 | €1,161 | €1,220 | +€59 | +5.0% |
| Furniture and vehicles | 24 | €1,975 | €786 | -€1,188 | -60.2% |
| Other tangible fixed assets | 26 | €20,068 | €58,347 | +€38,279 | +191% |
| Financial fixed assets | 28 | €2,290,134 | €2,290,134 | = | 0.0% |
| Affiliated companies | 280/1 | €2,290,134 | €2,290,134 | = | 0.0% |
| Participating interests | 280 | €2,290,134 | €2,290,134 | = | 0.0% |
| Current assets | 29/58 | €506,262 | €271,905 | -€234,358 | -46.3% |
| Amounts receivable after more than one year | 29 | €88,000 | €88,000 | = | 0.0% |
| Other amounts receivable | 291 | €88,000 | €88,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €387,895 | €160,771 | -€227,124 | -58.6% |
| Trade receivables | 40 | €287,606 | €107,877 | -€179,729 | -62.5% |
| Other amounts receivable | 41 | €100,290 | €52,895 | -€47,395 | -47.3% |
| Cash at bank and in hand | 54/58 | €22,243 | €21,037 | -€1,206 | -5.4% |
| Deferred charges and accrued income | 490/1 | €8,124 | €2,097 | -€6,027 | -74.2% |
| Total equity and liabilities | 10/49 | €2,819,601 | €2,622,392 | -€197,209 | -7.0% |
| Equity | 10/15 | €1,572,616 | €1,555,736 | -€16,881 | -1.1% |
| Contributions | 10/11 | €337,500 | €337,500 | = | 0.0% |
| Reserves | 13 | €1,235,116 | €1,218,236 | -€16,881 | -1.4% |
| Distributable reserves | 133 | €1,235,116 | €1,218,236 | -€16,881 | -1.4% |
| Amounts payable | 17/49 | €1,246,985 | €1,066,657 | -€180,328 | -14.5% |
| Amounts payable after more than one year | 17 | €786,246 | €518,445 | -€267,802 | -34.1% |
| Financial debts | 170/4 | €786,246 | €518,445 | -€267,802 | -34.1% |
| Credit institutions | 173 | €786,246 | €518,445 | -€267,802 | -34.1% |
| Amounts payable within one year | 42/48 | €457,966 | €545,682 | +€87,715 | +19.2% |
| Current portion of amounts payable after more than one year | 42 | €271,143 | €267,802 | -€3,341 | -1.2% |
| Trade debts | 44 | €9,918 | €71,142 | +€61,224 | +617% |
| Suppliers | 440/4 | €9,918 | €71,142 | +€61,224 | +617% |
| Taxes, remuneration and social security | 45 | €176,905 | €96,738 | -€80,167 | -45.3% |
| Taxes | 450/3 | €176,905 | €96,738 | -€80,167 | -45.3% |
| Other amounts payable | 47/48 | €0 | €110,000 | +€110,000 | |
| Accrued charges and deferred income | 492/3 | €2,772 | €2,530 | -€242 | -8.7% |
| Operating income | 70/76A | €356,959 | €322,472 | -€34,488 | -9.7% |
| Turnover | 70 | €355,068 | €320,068 | -€35,000 | -9.9% |
| Other operating income | 74 | €1,891 | €2,403 | +€512 | +27.1% |
| Operating charges | 60/66A | €180,993 | €165,968 | -€15,024 | -8.3% |
| Services and other goods | 61 | €176,724 | €162,301 | -€14,423 | -8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,533 | €1,915 | -€617 | -24.4% |
| Other operating charges | 640/8 | €1,736 | €1,752 | +€16 | +0.9% |
| Operating profit (loss) | 9901 | €175,967 | €156,504 | -€19,463 | -11.1% |
| Financial income | 75/76B | €12,424 | €7,755 | -€4,669 | -37.6% |
| Recurring financial income | 75 | €12,424 | €7,755 | -€4,669 | -37.6% |
| Income from financial fixed assets | 750 | €0 | - | = | |
| Income from current assets | 751 | €12,424 | €7,755 | -€4,669 | -37.6% |
| Other financial income | 752/9 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €27,347 | €34,836 | +€7,489 | +27.4% |
| Recurring financial charges | 65 | €27,347 | €34,836 | +€7,489 | +27.4% |
| Debt charges | 650 | €25,965 | €33,807 | +€7,841 | +30.2% |
| Other financial charges | 652/9 | €1,382 | €1,029 | -€353 | -25.5% |
| Profit (loss) for the period before taxes | 9903 | €161,044 | €129,423 | -€31,621 | -19.6% |
| Income taxes | 67/77 | €45,063 | €36,304 | -€8,759 | -19.4% |
| Taxes | 670/3 | €45,063 | €36,304 | -€8,759 | -19.4% |
| Profit (loss) for the period | 9904 | €115,981 | €93,119 | -€22,862 | -19.7% |
| Profit (loss) for the period to be appropriated | 9905 | €115,981 | €93,119 | -€22,862 | -19.7% |
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 13 October 2026 via checked.be.