MEAD: 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.
MEAD
Largest movements
- Cash -€33,191
down €33,191 (-77.1%), from €43,041 to €9,850
mainly Trade debts (-€27,403) and Debts after one year (-€21,255)
- Tangible fixed assets -€23,911
down €23,911 (-18.8%), from €127,408 to €103,497
of which Furniture and vehicles: -€18,910
- Receivables within one year -€6,356
down €6,356 (-24.9%), from €25,558 to €19,201
of which Other amounts receivable: -€3,562
- Trade debts -€27,403
down €27,403 (-56.2%), from €48,777 to €21,373
- Debts after one year -€21,255
down €21,255 (-21.8%), from €97,288 to €76,033
- Profit (loss) carried forward -€7,984
down €7,984 (-67.6%), from -€11,818 to -€19,802
- Current portion of long-term debt -€4,767
down €4,767 (-19.6%), from €24,283 to €19,515
- Tax, wage and social debts -€4,460
down €4,460 (-15.1%), from €29,580 to €25,121
of which Taxes: -€5,226
- Gross operating margin -€21,304
down €21,304 (-37.7%), from €56,444 to €35,140
- Depreciation -€8,201
down €8,201 (-23.4%), from €35,094 to €26,893
- Taxes -€3,837
down €3,837 (-57.6%), from €6,655 to €2,819
- Other operating charges +€2,393
up €2,393 (+126.6%), from €1,890 to €4,283
- Write-downs -€977
no longer reported in 2025 (was €977)
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 | €206,710 | €141,136 | -€65,574 | -31.7% |
| Fixed assets | 21/28 | €137,508 | €111,597 | -€25,911 | -18.8% |
| Intangible fixed assets | 21 | €10,000 | €8,000 | -€2,000 | -20.0% |
| Tangible fixed assets | 22/27 | €127,408 | €103,497 | -€23,911 | -18.8% |
| Plant, machinery and equipment | 23 | €34,644 | €30,010 | -€4,635 | -13.4% |
| Furniture and vehicles | 24 | €90,994 | €72,085 | -€18,910 | -20.8% |
| Other tangible fixed assets | 26 | €1,769 | €1,403 | -€367 | -20.7% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €69,202 | €29,539 | -€39,664 | -57.3% |
| Amounts receivable within one year | 40/41 | €25,558 | €19,201 | -€6,356 | -24.9% |
| Trade receivables | 40 | €5,277 | €2,482 | -€2,795 | -53.0% |
| Other amounts receivable | 41 | €20,281 | €16,719 | -€3,562 | -17.6% |
| Cash at bank and in hand | 54/58 | €43,041 | €9,850 | -€33,191 | -77.1% |
| Deferred charges and accrued income | 490/1 | €604 | €487 | -€117 | -19.3% |
| Total equity and liabilities | 10/49 | €206,710 | €141,136 | -€65,574 | -31.7% |
| Equity | 10/15 | €6,782 | -€1,202 | -€7,984 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Profit (loss) carried forward | 14 | -€11,818 | -€19,802 | -€7,984 | -67.6% |
| Amounts payable | 17/49 | €199,928 | €142,337 | -€57,590 | -28.8% |
| Amounts payable after more than one year | 17 | €97,288 | €76,033 | -€21,255 | -21.8% |
| Financial debts | 170/4 | €97,288 | €76,033 | -€21,255 | -21.8% |
| Amounts payable within one year | 42/48 | €102,639 | €66,305 | -€36,335 | -35.4% |
| Current portion of amounts payable after more than one year | 42 | €24,283 | €19,515 | -€4,767 | -19.6% |
| Financial debts | 43 | - | €296 | +€296 | |
| Credit institutions | 430/8 | - | €296 | +€296 | |
| Trade debts | 44 | €48,777 | €21,373 | -€27,403 | -56.2% |
| Suppliers | 440/4 | €48,777 | €21,373 | -€27,403 | -56.2% |
| Taxes, remuneration and social security | 45 | €29,580 | €25,121 | -€4,460 | -15.1% |
| Taxes | 450/3 | €25,880 | €20,654 | -€5,226 | -20.2% |
| Remuneration and social security | 454/9 | €3,700 | €4,467 | +€767 | +20.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,094 | €26,893 | -€8,201 | -23.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €977 | - | -€977 | |
| Other operating charges | 640/8 | €1,890 | €4,283 | +€2,393 | +126.6% |
| Gross operating margin | 9900 | €56,444 | €35,140 | -€21,304 | -37.7% |
| Operating profit (loss) | 9901 | €18,484 | €3,965 | -€14,519 | -78.6% |
| Financial income | 75/76B | €139 | €114 | -€26 | -18.4% |
| Recurring financial income | 75 | €139 | €114 | -€26 | -18.4% |
| Financial charges | 65/66B | €9,579 | €9,244 | -€336 | -3.5% |
| Recurring financial charges | 65 | €9,579 | €9,244 | -€336 | -3.5% |
| Profit (loss) for the period before taxes | 9903 | €9,044 | -€5,165 | -€14,209 | |
| Income taxes | 67/77 | €6,655 | €2,819 | -€3,837 | -57.6% |
| Profit (loss) for the period | 9904 | €2,388 | -€7,984 | -€10,372 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,388 | -€7,984 | -€10,372 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.