MECA-SALS: 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.
MECA-SALS
Largest movements
- Tangible fixed assets -€69,132
down €69,132 (-22.0%), from €314,902 to €245,770
of which Leasing and similar rights: -€36,332
- Cash -€61,719
down €61,719 (-41.5%), from €148,641 to €86,922
mainly Debts after one year (-€53,936) and Net result for the year (-€42,909)
- Stocks and contracts +€12,524
up €12,524 (+11.3%), from €110,867 to €123,391
- Intangible fixed assets -€8,097
down €8,097 (-14.4%), from €56,157 to €48,060
- Debts after one year -€53,936
down €53,936 (-36.9%), from €146,251 to €92,316
- Reserves -€42,909
down €42,909 (-10.3%), from €415,384 to €372,475
of which Tax-exempt reserves: -€43,326
- Other debts -€14,500
down €14,500 (-100.0%), from €14,500 to €0
- Provisions -€14,442
down €14,442 (-20.3%), from €71,010 to €56,568
- Gross operating margin -€45,527
down €45,527 (-14.4%), from €315,474 to €269,947
- Depreciation +€10,521
up €10,521 (+13.9%), from €75,497 to €86,019
- Taxes -€7,255
down €7,255 (-54.5%), from €13,319 to €6,064
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 | €808,036 | €687,606 | -€120,430 | -14.9% |
| Fixed assets | 21/28 | €371,059 | €293,830 | -€77,230 | -20.8% |
| Intangible fixed assets | 21 | €56,157 | €48,060 | -€8,097 | -14.4% |
| Tangible fixed assets | 22/27 | €314,902 | €245,770 | -€69,132 | -22.0% |
| Land and buildings | 22 | €4,790 | €3,346 | -€1,444 | -30.2% |
| Plant, machinery and equipment | 23 | €52,513 | €31,395 | -€21,118 | -40.2% |
| Furniture and vehicles | 24 | €27,397 | €17,158 | -€10,239 | -37.4% |
| Leasing and similar rights | 25 | €230,202 | €193,871 | -€36,332 | -15.8% |
| Current assets | 29/58 | €436,977 | €393,776 | -€43,200 | -9.9% |
| Stocks and contracts in progress | 3 | €110,867 | €123,391 | +€12,524 | +11.3% |
| Stocks | 30/36 | €110,867 | €123,391 | +€12,524 | +11.3% |
| Amounts receivable within one year | 40/41 | €166,393 | €172,751 | +€6,358 | +3.8% |
| Trade receivables | 40 | €134,892 | €144,462 | +€9,570 | +7.1% |
| Other amounts receivable | 41 | €31,501 | €28,289 | -€3,212 | -10.2% |
| Cash at bank and in hand | 54/58 | €148,641 | €86,922 | -€61,719 | -41.5% |
| Deferred charges and accrued income | 490/1 | €11,075 | €10,712 | -€363 | -3.3% |
| Total equity and liabilities | 10/49 | €808,036 | €687,606 | -€120,430 | -14.9% |
| Equity | 10/15 | €433,984 | €391,075 | -€42,909 | -9.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €415,384 | €372,475 | -€42,909 | -10.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €217,929 | €174,603 | -€43,326 | -19.9% |
| Distributable reserves | 133 | €195,595 | €196,012 | +€417 | +0.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €71,010 | €56,568 | -€14,442 | -20.3% |
| Deferred taxes | 168 | €71,010 | €56,568 | -€14,442 | -20.3% |
| Amounts payable | 17/49 | €303,042 | €239,963 | -€63,079 | -20.8% |
| Amounts payable after more than one year | 17 | €146,251 | €92,316 | -€53,936 | -36.9% |
| Financial debts | 170/4 | €146,251 | €92,316 | -€53,936 | -36.9% |
| Amounts payable within one year | 42/48 | €156,790 | €147,603 | -€9,188 | -5.9% |
| Current portion of amounts payable after more than one year | 42 | €69,034 | €72,546 | +€3,512 | +5.1% |
| Trade debts | 44 | €30,721 | €33,645 | +€2,924 | +9.5% |
| Suppliers | 440/4 | €30,721 | €33,645 | +€2,924 | +9.5% |
| Taxes, remuneration and social security | 45 | €42,535 | €41,411 | -€1,124 | -2.6% |
| Taxes | 450/3 | €7,293 | €11,574 | +€4,282 | +58.7% |
| Remuneration and social security | 454/9 | €35,243 | €29,836 | -€5,406 | -15.3% |
| Other amounts payable | 47/48 | €14,500 | €0 | -€14,500 | -100.0% |
| Accrued charges and deferred income | 492/3 | €0 | €45 | +€45 | |
| Non-recurring operating income | 76A | - | €0 | = | |
| Remuneration, social security and pensions | 62 | €221,678 | €224,378 | +€2,700 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,497 | €86,019 | +€10,521 | +13.9% |
| Other operating charges | 640/8 | €2,776 | €2,682 | -€94 | -3.4% |
| Gross operating margin | 9900 | €315,474 | €269,947 | -€45,527 | -14.4% |
| Operating profit (loss) | 9901 | €15,522 | -€43,132 | -€58,654 | |
| Financial income | 75/76B | €4 | €0 | -€4 | -95.7% |
| Recurring financial income | 75 | €4 | €0 | -€4 | -95.7% |
| Financial charges | 65/66B | €6,287 | €8,156 | +€1,868 | +29.7% |
| Recurring financial charges | 65 | €6,287 | €8,156 | +€1,868 | +29.7% |
| Profit (loss) for the period before taxes | 9903 | €9,240 | -€51,287 | -€60,527 | |
| Transfer from deferred taxes | 780 | €12,455 | €14,442 | +€1,987 | +16.0% |
| Income taxes | 67/77 | €13,319 | €6,064 | -€7,255 | -54.5% |
| Profit (loss) for the period | 9904 | €8,375 | -€42,909 | -€51,285 | |
| Transfer from tax-exempt reserves | 789 | €37,365 | €43,326 | +€5,961 | +16.0% |
| Profit (loss) for the period to be appropriated | 9905 | €45,740 | €417 | -€45,324 | -99.1% |
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 11 October 2026 via checked.be.