M.E.J.: 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.J.
Largest movements
- Cash -€12,578
down €12,578 (-49.8%), from €25,263 to €12,686
mainly Investment in fixed assets (net) (-€14,451) and Debts after one year (-€13,131)
- Current investments +€9,199
new in 2025: €9,199
- Debts after one year -€13,131
down €13,131 (-21.7%), from €60,393 to €47,262
- Other debts +€9,000
up €9,000 (+6.4%), from €140,103 to €149,103
- Gross operating margin -€1,321
down €1,321 (-5.8%), from €22,689 to €21,367
- Financial charges -€526
down €526 (-12.0%), from €4,403 to €3,877
- Depreciation +€458
up €458 (+3.6%), from €12,561 to €13,020
- Taxes +€339
up €339 (+803.5%), from €42 to €381
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 | €148,640 | €146,692 | -€1,948 | -1.3% |
| Fixed assets | 21/28 | €123,376 | €124,807 | +€1,431 | +1.2% |
| Tangible fixed assets | 22/27 | €123,376 | €124,807 | +€1,431 | +1.2% |
| Land and buildings | 22 | €123,358 | €110,854 | -€12,504 | -10.1% |
| Plant, machinery and equipment | 23 | €19 | €13,953 | +€13,935 | +75119.1% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €25,263 | €21,884 | -€3,379 | -13.4% |
| Current investments | 50/53 | - | €9,199 | +€9,199 | |
| Cash at bank and in hand | 54/58 | €25,263 | €12,686 | -€12,578 | -49.8% |
| Total equity and liabilities | 10/49 | €148,640 | €146,692 | -€1,948 | -1.3% |
| Equity | 10/15 | -€64,602 | -€63,622 | +€981 | +1.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€126,602 | -€125,622 | +€981 | +0.8% |
| Amounts payable | 17/49 | €213,242 | €210,313 | -€2,929 | -1.4% |
| Amounts payable after more than one year | 17 | €60,393 | €47,262 | -€13,131 | -21.7% |
| Financial debts | 170/4 | €60,393 | €47,262 | -€13,131 | -21.7% |
| Amounts payable within one year | 42/48 | €152,849 | €163,051 | +€10,202 | +6.7% |
| Current portion of amounts payable after more than one year | 42 | €12,398 | €12,019 | -€380 | -3.1% |
| Trade debts | 44 | €348 | €1,572 | +€1,225 | +352.4% |
| Suppliers | 440/4 | €348 | €1,572 | +€1,225 | +352.4% |
| Taxes, remuneration and social security | 45 | - | €357 | +€357 | |
| Taxes | 450/3 | - | €357 | +€357 | |
| Other amounts payable | 47/48 | €140,103 | €149,103 | +€9,000 | +6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,561 | €13,020 | +€458 | +3.6% |
| Other operating charges | 640/8 | €3,143 | €3,190 | +€47 | +1.5% |
| Gross operating margin | 9900 | €22,689 | €21,367 | -€1,321 | -5.8% |
| Operating profit (loss) | 9901 | €6,985 | €5,158 | -€1,827 | -26.2% |
| Financial income | 75/76B | €141 | €81 | -€60 | -42.4% |
| Recurring financial income | 75 | €141 | €81 | -€60 | -42.4% |
| Financial charges | 65/66B | €4,403 | €3,877 | -€526 | -12.0% |
| Recurring financial charges | 65 | €4,403 | €3,877 | -€526 | -12.0% |
| Profit (loss) for the period before taxes | 9903 | €2,722 | €1,362 | -€1,360 | -50.0% |
| Income taxes | 67/77 | €42 | €381 | +€339 | +803.5% |
| Profit (loss) for the period | 9904 | €2,680 | €981 | -€1,699 | -63.4% |
| Profit (loss) for the period to be appropriated | 9905 | €2,680 | €981 | -€1,699 | -63.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.