M.E.S.A: 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.S.A
Largest movements
- Tangible fixed assets +€16,775
up €16,775 (+7717.1%), from €217 to €16,992
of which Assets under construction and advance payments: +€16,992
- Cash -€7,216
down €7,216 (-9.0%), from €80,468 to €73,251
mainly Investment in fixed assets (net) (-€21,987) and Tax, wage and social debts (-€4,913)
- Intangible fixed assets +€4,132
new in 2025: €4,132
- Receivables within one year -€1,154
no longer reported in 2025 (was €1,154)
- Trade debts +€8,121
up €8,121 (+2400.8%), from €338 to €8,459
- Reserves +€6,574
up €6,574 (+9.9%), from €66,411 to €72,985
- Tax, wage and social debts -€4,913
down €4,913 (-38.3%), from €12,817 to €7,904
- Other debts +€2,621
up €2,621 (+339.4%), from €772 to €3,393
- Gross operating margin -€31,037
down €31,037 (-73.9%), from €41,979 to €10,942
- Taxes -€6,121
down €6,121 (-68.6%), from €8,921 to €2,800
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 | €81,839 | €94,375 | +€12,536 | +15.3% |
| Fixed assets | 21/28 | €217 | €21,124 | +€20,906 | +9617.9% |
| Intangible fixed assets | 21 | - | €4,132 | +€4,132 | |
| Tangible fixed assets | 22/27 | €217 | €16,992 | +€16,775 | +7717.1% |
| Furniture and vehicles | 24 | €217 | - | -€217 | |
| Assets under construction and advance payments | 27 | - | €16,992 | +€16,992 | |
| Current assets | 29/58 | €81,622 | €73,251 | -€8,370 | -10.3% |
| Amounts receivable within one year | 40/41 | €1,154 | - | -€1,154 | |
| Trade receivables | 40 | €1,154 | - | -€1,154 | |
| Cash at bank and in hand | 54/58 | €80,468 | €73,251 | -€7,216 | -9.0% |
| Total equity and liabilities | 10/49 | €81,839 | €94,375 | +€12,536 | +15.3% |
| Equity | 10/15 | €67,911 | €74,485 | +€6,574 | +9.7% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €66,411 | €72,985 | +€6,574 | +9.9% |
| Distributable reserves | 133 | €66,411 | €72,985 | +€6,574 | +9.9% |
| Amounts payable | 17/49 | €13,927 | €19,890 | +€5,962 | +42.8% |
| Amounts payable within one year | 42/48 | €13,927 | €19,757 | +€5,830 | +41.9% |
| Trade debts | 44 | €338 | €8,459 | +€8,121 | +2400.8% |
| Suppliers | 440/4 | €338 | €8,459 | +€8,121 | +2400.8% |
| Taxes, remuneration and social security | 45 | €12,817 | €7,904 | -€4,913 | -38.3% |
| Taxes | 450/3 | €12,817 | €7,904 | -€4,913 | -38.3% |
| Other amounts payable | 47/48 | €772 | €3,393 | +€2,621 | +339.4% |
| Accrued charges and deferred income | 492/3 | - | €133 | +€133 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €667 | €1,080 | +€414 | +62.0% |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | €41,979 | €10,942 | -€31,037 | -73.9% |
| Operating profit (loss) | 9901 | €41,194 | €9,742 | -€31,453 | -76.4% |
| Financial income | 75/76B | €4 | - | -€4 | |
| Recurring financial income | 75 | €4 | - | -€4 | |
| Financial charges | 65/66B | €136 | €368 | +€233 | +171.6% |
| Recurring financial charges | 65 | €136 | €368 | +€233 | +171.6% |
| Profit (loss) for the period before taxes | 9903 | €41,063 | €9,374 | -€31,689 | -77.2% |
| Income taxes | 67/77 | €8,921 | €2,800 | -€6,121 | -68.6% |
| Profit (loss) for the period | 9904 | €32,142 | €6,574 | -€25,568 | -79.5% |
| Profit (loss) for the period to be appropriated | 9905 | €32,142 | €6,574 | -€25,568 | -79.5% |
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 28 September 2026 via checked.be.