MEBES: what changed
Two financial 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.
MEBES
Largest movements
- Cash +€139,160
up €139,160 (+650%), from €21,409 to €160,569
mainly Debts after one year (+€500,969) and Receivables within one year (+€109,859)
- Receivables within one year -€109,859
down €109,859 (-32.0%), from €343,259 to €233,400
of which Trade receivables: -€110,290
- Receivables after one year -€84,861
no longer reported in 2025 (was €84,861)
- Tangible fixed assets -€61,227
down €61,227 (-6.8%), from €896,226 to €834,999
of which Land and buildings: -€42,922
- Stocks and contracts +€42,602
up €42,602 (+5.9%), from €726,385 to €768,987
of which Contracts in progress: +€90,668
- Debts after one year +€500,969
up €500,969 (+106%), from €472,277 to €973,246
of which Financial debts: +€407,675
- Short-term financial debts -€450,000
no longer reported in 2025 (was €450,000)
- Trade debts -€251,822
down €251,822 (-62.7%), from €401,351 to €149,529
- Reserves +€100,000
up €100,000 (+21.8%), from €459,000 to €559,000
of which Distributable reserves: +€100,000
- Accrued charges and deferred income +€80,758
up €80,758 (+70,846%), from €114 to €80,872
- Staff costs +€40,134
up €40,134 (+10.4%), from €386,728 to €426,863
- Gross operating margin +€39,534
up €39,534 (+5.6%), from €701,641 to €741,175
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.
Derived cash bridge
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 | €2,120,997 | €2,074,202 | -€46,795 | -2.2% |
| Fixed assets | 21/28 | €922,997 | €873,124 | -€49,873 | -5.4% |
| Intangible fixed assets | 21 | €22,000 | €34,875 | +€12,875 | +58.5% |
| Tangible fixed assets | 22/27 | €896,226 | €834,999 | -€61,227 | -6.8% |
| Land and buildings | 22 | €738,309 | €695,387 | -€42,922 | -5.8% |
| Plant, machinery and equipment | 23 | €23,233 | €14,482 | -€8,751 | -37.7% |
| Furniture and vehicles | 24 | €1,497 | €9,908 | +€8,411 | +562% |
| Leasing and similar rights | 25 | €133,187 | €115,222 | -€17,965 | -13.5% |
| Financial fixed assets | 28 | €4,772 | €3,250 | -€1,522 | -31.9% |
| Current assets | 29/58 | €1,198,000 | €1,201,079 | +€3,079 | +0.3% |
| Amounts receivable after more than one year | 29 | €84,861 | - | -€84,861 | |
| Other amounts receivable | 291 | €84,861 | - | -€84,861 | |
| Stocks and contracts in progress | 3 | €726,385 | €768,987 | +€42,602 | +5.9% |
| Stocks | 30/36 | €496,465 | €448,399 | -€48,066 | -9.7% |
| Contracts in progress | 37 | €229,920 | €320,588 | +€90,668 | +39.4% |
| Amounts receivable within one year | 40/41 | €343,259 | €233,400 | -€109,859 | -32.0% |
| Trade receivables | 40 | €342,939 | €232,649 | -€110,290 | -32.2% |
| Other amounts receivable | 41 | €320 | €751 | +€431 | +135% |
| Cash at bank and in hand | 54/58 | €21,409 | €160,569 | +€139,160 | +650% |
| Deferred charges and accrued income | 490/1 | €22,086 | €38,123 | +€16,037 | +72.6% |
| Total equity and liabilities | 10/49 | €2,120,997 | €2,074,202 | -€46,795 | -2.2% |
| Equity | 10/15 | €509,182 | €609,020 | +€99,838 | +19.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €459,000 | €559,000 | +€100,000 | +21.8% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €457,000 | €557,000 | +€100,000 | +21.9% |
| Profit (loss) carried forward | 14 | €30,182 | €30,020 | -€162 | -0.5% |
| Amounts payable | 17/49 | €1,611,816 | €1,465,183 | -€146,633 | -9.1% |
| Amounts payable after more than one year | 17 | €472,277 | €973,246 | +€500,969 | +106% |
| Financial debts | 170/4 | €472,277 | €879,952 | +€407,675 | +86.3% |
| Other amounts payable | 178/9 | - | €93,294 | +€93,294 | |
| Amounts payable within one year | 42/48 | €1,139,425 | €411,065 | -€728,360 | -63.9% |
| Current portion of amounts payable after more than one year | 42 | €185,992 | €194,895 | +€8,904 | +4.8% |
| Financial debts | 43 | €450,000 | - | -€450,000 | |
| Credit institutions | 430/8 | €450,000 | - | -€450,000 | |
| Trade debts | 44 | €401,351 | €149,529 | -€251,822 | -62.7% |
| Suppliers | 440/4 | €401,351 | €149,529 | -€251,822 | -62.7% |
| Taxes, remuneration and social security | 45 | €102,082 | €65,807 | -€36,274 | -35.5% |
| Taxes | 450/3 | €72,101 | €37,465 | -€34,637 | -48.0% |
| Remuneration and social security | 454/9 | €29,981 | €28,343 | -€1,638 | -5.5% |
| Other amounts payable | 47/48 | - | €833 | +€833 | |
| Accrued charges and deferred income | 492/3 | €114 | €80,872 | +€80,758 | +70,846% |
| Remuneration, social security and pensions | 62 | €386,728 | €426,863 | +€40,134 | +10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,169 | €83,905 | +€6,736 | +8.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €599 | - | -€599 | |
| Other operating charges | 640/8 | €12,167 | €6,275 | -€5,892 | -48.4% |
| Gross operating margin | 9900 | €701,641 | €741,175 | +€39,534 | +5.6% |
| Operating profit (loss) | 9901 | €224,977 | €224,132 | -€845 | -0.4% |
| Financial income | 75/76B | €259 | €232 | -€27 | -10.5% |
| Recurring financial income | 75 | €259 | €232 | -€27 | -10.5% |
| Financial charges | 65/66B | €79,410 | €79,899 | +€489 | +0.6% |
| Recurring financial charges | 65 | €79,410 | €79,899 | +€489 | +0.6% |
| Profit (loss) for the period before taxes | 9903 | €145,826 | €144,465 | -€1,361 | -0.9% |
| Income taxes | 67/77 | €37,913 | €43,794 | +€5,880 | +15.5% |
| Profit (loss) for the period | 9904 | €107,912 | €100,671 | -€7,241 | -6.7% |
| Profit (loss) for the period to be appropriated | 9905 | €107,912 | €100,671 | -€7,241 | -6.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.