MEBUL: 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.
MEBUL
Largest movements
- Receivables within one year -€1,979
down €1,979 (-10.6%), from €18,702 to €16,723
of which Other amounts receivable: -€1,326
- Cash -€873
down €873 (-48.4%), from €1,804 to €931
mainly Trade debts (-€2,594) and Contributions, distributions and other (-€2,419)
- Tangible fixed assets +€683
up €683 (+7.0%), from €9,771 to €10,454
of which Plant, machinery and equipment: +€1,129
- Profit (loss) carried forward +€3,854
up €3,854 (+5.4%), from -€71,445 to -€67,591
- Trade debts -€2,594
down €2,594 (-36.8%), from €7,051 to €4,457
- Tax, wage and social debts -€1,945
down €1,945 (-48.8%), from €3,989 to €2,044
- Other debts -€1,175
down €1,175 (-1.6%), from €73,497 to €72,323
- Gross operating margin +€3,745
up €3,745 (+24.3%), from €15,435 to €19,181
- Taxes -€2,693
down €2,693 (-76.0%), from €3,543 to €850
- Depreciation -€973
down €973 (-37.2%), from €2,616 to €1,643
- Other operating charges +€528
up €528 (+57.4%), from €919 to €1,447
- Financial charges +€279
up €279 (+60.5%), from €461 to €739
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 | €31,593 | €29,733 | -€1,860 | -5.9% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €9,771 | €10,454 | +€683 | +7.0% |
| Tangible fixed assets | 22/27 | €9,771 | €10,454 | +€683 | +7.0% |
| Plant, machinery and equipment | 23 | - | €1,129 | +€1,129 | |
| Furniture and vehicles | 24 | €9,771 | €9,325 | -€446 | -4.6% |
| Current assets | 29/58 | €21,821 | €19,279 | -€2,542 | -11.7% |
| Amounts receivable within one year | 40/41 | €18,702 | €16,723 | -€1,979 | -10.6% |
| Trade receivables | 40 | €16,870 | €16,217 | -€653 | -3.9% |
| Other amounts receivable | 41 | €1,832 | €506 | -€1,326 | -72.4% |
| Cash at bank and in hand | 54/58 | €1,804 | €931 | -€873 | -48.4% |
| Deferred charges and accrued income | 490/1 | €1,315 | €1,625 | +€310 | +23.6% |
| Total equity and liabilities | 10/49 | €31,593 | €29,733 | -€1,860 | -5.9% |
| Equity | 10/15 | -€52,945 | -€49,091 | +€3,854 | +7.3% |
| Contributions | 10/11 | €18,500 | €18,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€71,445 | -€67,591 | +€3,854 | +5.4% |
| Amounts payable | 17/49 | €84,538 | €78,824 | -€5,714 | -6.8% |
| Amounts payable within one year | 42/48 | €84,538 | €78,824 | -€5,714 | -6.8% |
| Trade debts | 44 | €7,051 | €4,457 | -€2,594 | -36.8% |
| Suppliers | 440/4 | €7,051 | €4,457 | -€2,594 | -36.8% |
| Taxes, remuneration and social security | 45 | €3,989 | €2,044 | -€1,945 | -48.8% |
| Taxes | 450/3 | €3,989 | €2,044 | -€1,945 | -48.8% |
| Other amounts payable | 47/48 | €73,497 | €72,323 | -€1,175 | -1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,616 | €1,643 | -€973 | -37.2% |
| Other operating charges | 640/8 | €919 | €1,447 | +€528 | +57.4% |
| Non-recurring operating charges | 66A | - | €8,228 | +€8,228 | |
| Gross operating margin | 9900 | €15,435 | €19,181 | +€3,745 | +24.3% |
| Operating profit (loss) | 9901 | €11,900 | €7,863 | -€4,037 | -33.9% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €461 | €739 | +€279 | +60.5% |
| Recurring financial charges | 65 | €461 | €739 | +€279 | +60.5% |
| Profit (loss) for the period before taxes | 9903 | €11,441 | €7,124 | -€4,317 | -37.7% |
| Income taxes | 67/77 | €3,543 | €850 | -€2,693 | -76.0% |
| Profit (loss) for the period | 9904 | €7,898 | €6,274 | -€1,624 | -20.6% |
| Profit (loss) for the period to be appropriated | 9905 | €7,898 | €6,274 | -€1,624 | -20.6% |
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 4 October 2026 via checked.be.