M-Electro: what changed
What changed
M-Electro
NACE 43.211, General electrical installation work
filed annual accounts (NBB)
Net result for the year
-€24,096
2024 · €13,103-€37,199
Equity
€8,236
2024 · €32,333-€24,096
Cash
€9,183
2024 · €1,276+€7,907
Balance sheet total
€89,951
2024 · €60,265+€29,686
Largest movements
Assets
- Tangible fixed assets +€33,510
up €33,510 (+571%), from €5,867 to €39,377
of which Furniture and vehicles: +€32,311
- Receivables within one year -€10,331
down €10,331 (-26.6%), from €38,844 to €28,513
of which Trade receivables: -€15,870
- Cash +€7,907
up €7,907 (+620%), from €1,276 to €9,183
mainly Debts after one year (+€25,111) and Trade debts (+€19,068)
- Stocks and contracts -€2,010
down €2,010 (-14.6%), from €13,718 to €11,709
Equity and liabilities
- Debts after one year +€25,111
up €25,111, from €0 to €25,111
- Profit (loss) carried forward -€24,096
down €24,096 (-74.8%), from €32,233 to €8,136
- Trade debts +€19,068
up €19,068 (+178%), from €10,729 to €29,797
- Current portion of long-term debt +€6,946
up €6,946 (+358%), from €1,941 to €8,888
- Other debts +€3,347
up €3,347 (+109%), from €3,075 to €6,422
Income statement
- Staff costs +€18,831
up €18,831 (+379%), from €4,975 to €23,806
- Gross operating margin -€13,013
down €13,013 (-51.1%), from €25,474 to €12,462
- Depreciation +€6,831
up €6,831 (+899%), from €760 to €7,591
- Taxes -€5,071
no longer reported in 2025 (was €5,071)
- Other operating charges +€2,772
up €2,772 (+675%), from €411 to €3,182
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€13,103
Gross operating margin
-€13,013
Staff costs
-€18,831
Depreciation
-€6,831
Write-downs
+€186
Other operating charges
-€2,772
Other operating items
-€53
Financial income
+€69
Financial charges
-€1,027
Taxes
+€5,071
Result 2025
-€24,096
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€17,018
Investment
-€41,101
Financing
+€31,990
Cash 2024
€1,276
From operations (derived)
+€17,018
Net result for the year
-€24,096
Depreciation
+€7,591
Stocks and contracts
+€2,010
Receivables within one year
+€10,331
Deferred charges and accrued income
-€609
Trade debts
+€19,068
Tax, wage and social debts
-€725
Other debts
+€3,347
Accrued charges and deferred income
+€102
Investment (derived)
-€41,101
Investment in fixed assets (net)
-€41,101
Financing
+€31,990
Debts after one year
+€25,111
Current portion of long-term debt
+€6,946
Short-term financial debts
-€67
Cash 2025
€9,183
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €60,265 | €89,951 | +€29,686 | +49.3% |
| Fixed assets | 21/28 | €6,427 | €39,937 | +€33,510 | +521% |
| Tangible fixed assets | 22/27 | €5,867 | €39,377 | +€33,510 | +571% |
| Plant, machinery and equipment | 23 | €5,867 | €7,066 | +€1,199 | +20.4% |
| Furniture and vehicles | 24 | - | €32,311 | +€32,311 | |
| Financial fixed assets | 28 | €560 | €560 | = | 0.0% |
| Current assets | 29/58 | €53,838 | €50,014 | -€3,824 | -7.1% |
| Stocks and contracts in progress | 3 | €13,718 | €11,709 | -€2,010 | -14.6% |
| Stocks | 30/36 | €13,718 | €11,709 | -€2,010 | -14.6% |
| Amounts receivable within one year | 40/41 | €38,844 | €28,513 | -€10,331 | -26.6% |
| Trade receivables | 40 | €31,136 | €15,265 | -€15,870 | -51.0% |
| Other amounts receivable | 41 | €7,708 | €13,248 | +€5,540 | +71.9% |
| Cash at bank and in hand | 54/58 | €1,276 | €9,183 | +€7,907 | +620% |
| Deferred charges and accrued income | 490/1 | €0 | €609 | +€609 | |
| Total equity and liabilities | 10/49 | €60,265 | €89,951 | +€29,686 | +49.3% |
| Equity | 10/15 | €32,333 | €8,236 | -€24,096 | -74.5% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,233 | €8,136 | -€24,096 | -74.8% |
| Amounts payable | 17/49 | €27,932 | €81,715 | +€53,782 | +193% |
| Amounts payable after more than one year | 17 | €0 | €25,111 | +€25,111 | |
| Financial debts | 170/4 | €0 | €25,111 | +€25,111 | |
| Amounts payable within one year | 42/48 | €27,932 | €56,502 | +€28,570 | +102% |
| Current portion of amounts payable after more than one year | 42 | €1,941 | €8,888 | +€6,946 | +358% |
| Financial debts | 43 | €1,749 | €1,682 | -€67 | -3.8% |
| Credit institutions | 430/8 | €1,749 | €1,682 | -€67 | -3.8% |
| Trade debts | 44 | €10,729 | €29,797 | +€19,068 | +178% |
| Suppliers | 440/4 | €10,729 | €29,797 | +€19,068 | +178% |
| Taxes, remuneration and social security | 45 | €10,438 | €9,713 | -€725 | -6.9% |
| Taxes | 450/3 | €7,061 | €2,256 | -€4,806 | -68.1% |
| Remuneration and social security | 454/9 | €3,377 | €7,458 | +€4,081 | +121% |
| Other amounts payable | 47/48 | €3,075 | €6,422 | +€3,347 | +109% |
| Accrued charges and deferred income | 492/3 | - | €102 | +€102 | |
| Turnover | 70 | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €4,975 | €23,806 | +€18,831 | +379% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €760 | €7,591 | +€6,831 | +899% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €186 | - | -€186 | |
| Other operating charges | 640/8 | €411 | €3,182 | +€2,772 | +675% |
| Non-recurring operating charges | 66A | - | €53 | +€53 | |
| Gross operating margin | 9900 | €25,474 | €12,462 | -€13,013 | -51.1% |
| Operating profit (loss) | 9901 | €19,143 | -€22,170 | -€41,312 | |
| Financial income | 75/76B | €180 | €249 | +€69 | +38.0% |
| Recurring financial income | 75 | €180 | €249 | +€69 | +38.0% |
| Financial charges | 65/66B | €1,149 | €2,176 | +€1,027 | +89.3% |
| Recurring financial charges | 65 | €1,149 | €2,176 | +€1,027 | +89.3% |
| Profit (loss) for the period before taxes | 9903 | €18,174 | -€24,096 | -€42,270 | |
| Income taxes | 67/77 | €5,071 | - | -€5,071 | |
| Profit (loss) for the period | 9904 | €13,103 | -€24,096 | -€37,199 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,103 | -€24,096 | -€37,199 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.