M-ELEC: 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-ELEC
Largest movements
- Receivables within one year +€36,593
up €36,593 (+849.5%), from €4,307 to €40,900
of which Other amounts receivable: +€30,839
- Tangible fixed assets +€4,885
new in 2025: €4,885
- Cash +€1,493
up €1,493 (+49.8%), from €3,000 to €4,493
mainly Net result for the year (+€30,702) and Current portion of long-term debt (+€9,889)
- Reserves +€29,573
new in 2025: €29,573
- Current portion of long-term debt +€9,889
new in 2025: €9,889
- Debts after one year +€2,712
new in 2025: €2,712
- Profit (loss) carried forward +€1,129
no longer reported in 2025 (was -€1,129)
- Tax, wage and social debts +€956
up €956 (+45950.0%), from €2 to €958
- Gross operating margin +€43,157
up €43,157, from -€1,129 to €42,028
- Taxes +€7,800
new in 2025: €7,800
- Depreciation +€2,315
new in 2025: €2,315
- Financial income +€908
new in 2025: €908
- Financial charges +€904
new in 2025: €904
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 | €7,307 | €50,858 | +€43,551 | +596.0% |
| Fixed assets | 21/28 | - | €5,095 | +€5,095 | |
| Tangible fixed assets | 22/27 | - | €4,885 | +€4,885 | |
| Furniture and vehicles | 24 | - | €4,885 | +€4,885 | |
| Financial fixed assets | 28 | - | €210 | +€210 | |
| Current assets | 29/58 | €7,307 | €45,763 | +€38,456 | +526.3% |
| Amounts receivable within one year | 40/41 | €4,307 | €40,900 | +€36,593 | +849.5% |
| Trade receivables | 40 | €4,295 | €10,048 | +€5,753 | +133.9% |
| Other amounts receivable | 41 | €12 | €30,851 | +€30,839 | +256995.7% |
| Cash at bank and in hand | 54/58 | €3,000 | €4,493 | +€1,493 | +49.8% |
| Deferred charges and accrued income | 490/1 | - | €370 | +€370 | |
| Total equity and liabilities | 10/49 | €7,307 | €50,858 | +€43,551 | +596.0% |
| Equity | 10/15 | €1,871 | €32,573 | +€30,702 | +1641.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | - | €29,573 | +€29,573 | |
| Distributable reserves | 133 | - | €29,573 | +€29,573 | |
| Profit (loss) carried forward | 14 | -€1,129 | - | +€1,129 | |
| Amounts payable | 17/49 | €5,437 | €18,286 | +€12,849 | +236.4% |
| Amounts payable after more than one year | 17 | - | €2,712 | +€2,712 | |
| Financial debts | 170/4 | - | €2,712 | +€2,712 | |
| Amounts payable within one year | 42/48 | €5,437 | €15,574 | +€10,137 | +186.5% |
| Current portion of amounts payable after more than one year | 42 | - | €9,889 | +€9,889 | |
| Trade debts | 44 | €5,434 | €4,726 | -€708 | -13.0% |
| Suppliers | 440/4 | €5,434 | €4,726 | -€708 | -13.0% |
| Taxes, remuneration and social security | 45 | €2 | €958 | +€956 | +45950.0% |
| Taxes | 450/3 | €2 | €958 | +€956 | +45950.0% |
| Remuneration, social security and pensions | 62 | - | €743 | +€743 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €2,315 | +€2,315 | |
| Other operating charges | 640/8 | - | €472 | +€472 | |
| Gross operating margin | 9900 | -€1,129 | €42,028 | +€43,157 | |
| Operating profit (loss) | 9901 | -€1,129 | €38,498 | +€39,627 | |
| Financial income | 75/76B | - | €908 | +€908 | |
| Recurring financial income | 75 | - | €908 | +€908 | |
| Financial charges | 65/66B | - | €904 | +€904 | |
| Recurring financial charges | 65 | - | €904 | +€904 | |
| Profit (loss) for the period before taxes | 9903 | -€1,129 | €38,502 | +€39,631 | |
| Income taxes | 67/77 | - | €7,800 | +€7,800 | |
| Profit (loss) for the period | 9904 | -€1,129 | €30,702 | +€31,831 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,129 | €30,702 | +€31,831 |
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 8 October 2026 via checked.be.