M.E.S.: 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.
M.E.S.
Largest movements
- Financial fixed assets -€15,000
no longer reported in 2025 (was €15,000)
- Receivables within one year +€12,706
up €12,706 (+1811.7%), from €701 to €13,407
- Tangible fixed assets -€7,635
down €7,635 (-30.2%), from €25,311 to €17,676
of which Land and buildings: -€4,847
- Cash -€7,404
down €7,404 (-37.8%), from €19,587 to €12,182
mainly Other debts (-€23,666) and Receivables within one year (-€12,706)
- Stocks and contracts -€1,500
down €1,500 (-2.5%), from €60,133 to €58,633
- Other debts -€23,666
down €23,666 (-53.4%), from €44,277 to €20,611
- Profit (loss) carried forward +€9,315
up €9,315 (+36.6%), from -€25,451 to -€16,136
- Current portion of long-term debt -€4,999
no longer reported in 2025 (was €4,999)
- Tax, wage and social debts +€1,623
up €1,623 (+67.1%), from €2,420 to €4,044
- Gross operating margin -€9,587
down €9,587 (-34.9%), from €27,475 to €17,888
- Depreciation -€7,714
down €7,714 (-50.5%), from €15,272 to €7,558
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 | €121,729 | €102,272 | -€19,457 | -16.0% |
| Fixed assets | 21/28 | €40,311 | €17,676 | -€22,635 | -56.2% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €25,311 | €17,676 | -€7,635 | -30.2% |
| Land and buildings | 22 | €17,712 | €12,864 | -€4,847 | -27.4% |
| Plant, machinery and equipment | 23 | €5,497 | €4,123 | -€1,374 | -25.0% |
| Furniture and vehicles | 24 | €2,103 | €689 | -€1,413 | -67.2% |
| Financial fixed assets | 28 | €15,000 | - | -€15,000 | |
| Current assets | 29/58 | €81,417 | €84,596 | +€3,178 | +3.9% |
| Stocks and contracts in progress | 3 | €60,133 | €58,633 | -€1,500 | -2.5% |
| Stocks | 30/36 | €60,133 | €58,633 | -€1,500 | -2.5% |
| Amounts receivable within one year | 40/41 | €701 | €13,407 | +€12,706 | +1811.7% |
| Trade receivables | 40 | €701 | €13,407 | +€12,706 | +1811.7% |
| Cash at bank and in hand | 54/58 | €19,587 | €12,182 | -€7,404 | -37.8% |
| Deferred charges and accrued income | 490/1 | €996 | €373 | -€623 | -62.6% |
| Total equity and liabilities | 10/49 | €121,729 | €102,272 | -€19,457 | -16.0% |
| Equity | 10/15 | €61,081 | €70,396 | +€9,315 | +15.2% |
| Contributions | 10/11 | €10,589 | €10,589 | = | 0.0% |
| Reserves | 13 | €75,942 | €75,942 | = | 0.0% |
| Distributable reserves | 133 | €75,942 | €75,942 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€25,451 | -€16,136 | +€9,315 | +36.6% |
| Amounts payable | 17/49 | €60,648 | €31,876 | -€28,771 | -47.4% |
| Amounts payable after more than one year | 17 | €556 | - | -€556 | |
| Financial debts | 170/4 | €556 | - | -€556 | |
| Amounts payable within one year | 42/48 | €60,092 | €31,876 | -€28,216 | -47.0% |
| Current portion of amounts payable after more than one year | 42 | €4,999 | - | -€4,999 | |
| Trade debts | 44 | €8,395 | €7,222 | -€1,174 | -14.0% |
| Suppliers | 440/4 | €8,395 | €7,222 | -€1,174 | -14.0% |
| Taxes, remuneration and social security | 45 | €2,420 | €4,044 | +€1,623 | +67.1% |
| Taxes | 450/3 | €2,420 | €4,044 | +€1,623 | +67.1% |
| Other amounts payable | 47/48 | €44,277 | €20,611 | -€23,666 | -53.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,272 | €7,558 | -€7,714 | -50.5% |
| Other operating charges | 640/8 | €626 | €700 | +€74 | +11.8% |
| Gross operating margin | 9900 | €27,475 | €17,888 | -€9,587 | -34.9% |
| Operating profit (loss) | 9901 | €11,578 | €9,630 | -€1,947 | -16.8% |
| Financial income | 75/76B | €50 | - | -€50 | |
| Recurring financial income | 75 | €50 | - | -€50 | |
| Financial charges | 65/66B | €503 | €315 | -€188 | -37.3% |
| Recurring financial charges | 65 | €503 | €315 | -€188 | -37.3% |
| Profit (loss) for the period before taxes | 9903 | €11,124 | €9,315 | -€1,809 | -16.3% |
| Profit (loss) for the period | 9904 | €11,124 | €9,315 | -€1,809 | -16.3% |
| Profit (loss) for the period to be appropriated | 9905 | €11,124 | €9,315 | -€1,809 | -16.3% |
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 12 October 2026 via checked.be.