me-nu: 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.
me-nu
Largest movements
- Tangible fixed assets -€33,283
down €33,283 (-14.6%), from €228,677 to €195,394
- Receivables within one year +€29,903
up €29,903 (+119.5%), from €25,017 to €54,920
of which Other amounts receivable: +€28,951
- Cash +€14,389
up €14,389 (+29.9%), from €48,188 to €62,577
mainly Depreciation (+€35,143) and Accrued charges and deferred income (+€25,609)
- Current investments +€7,461
up €7,461 (+82.9%), from €9,003 to €16,464
- Accrued charges and deferred income +€25,609
up €25,609 (+391.6%), from €6,539 to €32,148
- Other debts +€20,000
new in 2025: €20,000
- Debts after one year -€14,562
down €14,562 (-11.9%), from €122,651 to €108,089
- Trade debts -€12,045
down €12,045 (-36.5%), from €33,017 to €20,972
- Gross operating margin -€11,707
down €11,707 (-8.1%), from €144,173 to €132,466
- Staff costs +€2,743
up €2,743 (+4.5%), from €60,894 to €63,637
- Depreciation +€2,676
up €2,676 (+8.2%), from €32,467 to €35,143
- Taxes -€2,535
down €2,535 (-28.8%), from €8,797 to €6,262
- Financial charges -€1,936
down €1,936 (-20.8%), from €9,309 to €7,372
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 | €329,752 | €347,795 | +€18,042 | +5.5% |
| Fixed assets | 21/28 | €228,677 | €195,394 | -€33,283 | -14.6% |
| Tangible fixed assets | 22/27 | €228,677 | €195,394 | -€33,283 | -14.6% |
| Land and buildings | 22 | €158,262 | €147,258 | -€11,004 | -7.0% |
| Plant, machinery and equipment | 23 | €37,709 | €24,616 | -€13,093 | -34.7% |
| Furniture and vehicles | 24 | €8,798 | €6,230 | -€2,568 | -29.2% |
| Leasing and similar rights | 25 | €23,908 | €17,289 | -€6,618 | -27.7% |
| Current assets | 29/58 | €101,075 | €152,401 | +€51,326 | +50.8% |
| Stocks and contracts in progress | 3 | €6,398 | €7,706 | +€1,308 | +20.4% |
| Stocks | 30/36 | €6,398 | €7,706 | +€1,308 | +20.4% |
| Amounts receivable within one year | 40/41 | €25,017 | €54,920 | +€29,903 | +119.5% |
| Trade receivables | 40 | €17,519 | €18,472 | +€953 | +5.4% |
| Other amounts receivable | 41 | €7,498 | €36,449 | +€28,951 | +386.1% |
| Current investments | 50/53 | €9,003 | €16,464 | +€7,461 | +82.9% |
| Cash at bank and in hand | 54/58 | €48,188 | €62,577 | +€14,389 | +29.9% |
| Deferred charges and accrued income | 490/1 | €12,469 | €10,734 | -€1,735 | -13.9% |
| Total equity and liabilities | 10/49 | €329,752 | €347,795 | +€18,042 | +5.5% |
| Equity | 10/15 | €132,842 | €132,992 | +€150 | +0.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €131,842 | €131,992 | +€150 | +0.1% |
| Tax-exempt reserves | 132 | €43 | €43 | = | 0.0% |
| Distributable reserves | 133 | €131,799 | €131,949 | +€150 | +0.1% |
| Amounts payable | 17/49 | €196,911 | €214,803 | +€17,892 | +9.1% |
| Amounts payable after more than one year | 17 | €122,651 | €108,089 | -€14,562 | -11.9% |
| Financial debts | 170/4 | €122,651 | €108,089 | -€14,562 | -11.9% |
| Amounts payable within one year | 42/48 | €67,721 | €74,565 | +€6,845 | +10.1% |
| Current portion of amounts payable after more than one year | 42 | €14,425 | €14,969 | +€544 | +3.8% |
| Trade debts | 44 | €33,017 | €20,972 | -€12,045 | -36.5% |
| Suppliers | 440/4 | €33,017 | €20,972 | -€12,045 | -36.5% |
| Taxes, remuneration and social security | 45 | €20,279 | €18,624 | -€1,655 | -8.2% |
| Taxes | 450/3 | €15,450 | €14,363 | -€1,086 | -7.0% |
| Remuneration and social security | 454/9 | €4,829 | €4,260 | -€569 | -11.8% |
| Other amounts payable | 47/48 | - | €20,000 | +€20,000 | |
| Accrued charges and deferred income | 492/3 | €6,539 | €32,148 | +€25,609 | +391.6% |
| Remuneration, social security and pensions | 62 | €60,894 | €63,637 | +€2,743 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,467 | €35,143 | +€2,676 | +8.2% |
| Other operating charges | 640/8 | €2,588 | €2,049 | -€538 | -20.8% |
| Non-recurring operating charges | 66A | €644 | - | -€644 | |
| Gross operating margin | 9900 | €144,173 | €132,466 | -€11,707 | -8.1% |
| Operating profit (loss) | 9901 | €47,580 | €31,636 | -€15,944 | -33.5% |
| Financial income | 75/76B | €1,737 | €2,149 | +€412 | +23.7% |
| Recurring financial income | 75 | €1,737 | €2,149 | +€412 | +23.7% |
| Financial charges | 65/66B | €9,309 | €7,372 | -€1,936 | -20.8% |
| Recurring financial charges | 65 | €9,309 | €7,372 | -€1,936 | -20.8% |
| Profit (loss) for the period before taxes | 9903 | €40,008 | €26,412 | -€13,595 | -34.0% |
| Income taxes | 67/77 | €8,797 | €6,262 | -€2,535 | -28.8% |
| Profit (loss) for the period | 9904 | €31,211 | €20,150 | -€11,060 | -35.4% |
| Profit (loss) for the period to be appropriated | 9905 | €31,211 | €20,150 | -€11,060 | -35.4% |
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 7 October 2026 via checked.be.