Mebax: 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.
Mebax
Largest movements
- Receivables within one year +€32,027
up €32,027 (+90.1%), from €35,560 to €67,587
of which Trade receivables: +€18,002
- Tangible fixed assets -€11,617
down €11,617 (-23.7%), from €49,048 to €37,431
of which Furniture and vehicles: -€8,544
- Cash -€6,392
down €6,392 (-20.2%), from €31,574 to €25,182
mainly Receivables within one year (-€32,027) and Tax, wage and social debts (-€3,288)
- Reserves +€16,318
up €16,318 (+21.2%), from €76,987 to €93,305
- Trade debts +€3,418
new in 2025: €3,418
- Tax, wage and social debts -€3,288
down €3,288 (-15.8%), from €20,765 to €17,478
- Other debts -€2,430
no longer reported in 2025 (was €2,430)
- Gross operating margin -€9,125
down €9,125 (-15.3%), from €59,469 to €50,344
- Depreciation +€5,967
up €5,967 (+69.9%), from €8,540 to €14,508
- Financial charges +€4,187
up €4,187 (+106.0%), from €3,951 to €8,138
- Staff costs -€3,867
down €3,867 (-95.8%), from €4,037 to €170
- Taxes -€1,269
down €1,269 (-13.7%), from €9,266 to €7,997
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 | €116,182 | €130,201 | +€14,019 | +12.1% |
| Fixed assets | 21/28 | €49,048 | €37,431 | -€11,617 | -23.7% |
| Tangible fixed assets | 22/27 | €49,048 | €37,431 | -€11,617 | -23.7% |
| Plant, machinery and equipment | 23 | €9,349 | €6,277 | -€3,072 | -32.9% |
| Furniture and vehicles | 24 | €39,699 | €31,155 | -€8,544 | -21.5% |
| Current assets | 29/58 | €67,134 | €92,769 | +€25,635 | +38.2% |
| Amounts receivable within one year | 40/41 | €35,560 | €67,587 | +€32,027 | +90.1% |
| Trade receivables | 40 | €32,710 | €50,712 | +€18,002 | +55.0% |
| Other amounts receivable | 41 | €2,849 | €16,875 | +€14,026 | +492.3% |
| Cash at bank and in hand | 54/58 | €31,574 | €25,182 | -€6,392 | -20.2% |
| Total equity and liabilities | 10/49 | €116,182 | €130,201 | +€14,019 | +12.1% |
| Equity | 10/15 | €92,987 | €109,305 | +€16,318 | +17.5% |
| Contributions | 10/11 | €16,000 | €16,000 | = | 0.0% |
| Reserves | 13 | €76,987 | €93,305 | +€16,318 | +21.2% |
| Distributable reserves | 133 | €76,987 | €93,305 | +€16,318 | +21.2% |
| Amounts payable | 17/49 | €23,195 | €20,896 | -€2,299 | -9.9% |
| Amounts payable within one year | 42/48 | €23,195 | €20,896 | -€2,299 | -9.9% |
| Trade debts | 44 | - | €3,418 | +€3,418 | |
| Suppliers | 440/4 | - | €3,418 | +€3,418 | |
| Taxes, remuneration and social security | 45 | €20,765 | €17,478 | -€3,288 | -15.8% |
| Taxes | 450/3 | €20,765 | €17,478 | -€3,288 | -15.8% |
| Other amounts payable | 47/48 | €2,430 | - | -€2,430 | |
| Remuneration, social security and pensions | 62 | €4,037 | €170 | -€3,867 | -95.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,540 | €14,508 | +€5,967 | +69.9% |
| Other operating charges | 640/8 | €2,589 | €3,213 | +€624 | +24.1% |
| Gross operating margin | 9900 | €59,469 | €50,344 | -€9,125 | -15.3% |
| Operating profit (loss) | 9901 | €44,302 | €32,453 | -€11,849 | -26.7% |
| Financial charges | 65/66B | €3,951 | €8,138 | +€4,187 | +106.0% |
| Recurring financial charges | 65 | €3,951 | €8,138 | +€4,187 | +106.0% |
| Profit (loss) for the period before taxes | 9903 | €40,351 | €24,315 | -€16,036 | -39.7% |
| Income taxes | 67/77 | €9,266 | €7,997 | -€1,269 | -13.7% |
| Profit (loss) for the period | 9904 | €31,084 | €16,318 | -€14,767 | -47.5% |
| Profit (loss) for the period to be appropriated | 9905 | €31,084 | €16,318 | -€14,767 | -47.5% |
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 9 October 2026 via checked.be.