MECALEC SMD: 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.
MECALEC SMD
Largest movements
- Receivables within one year +€591,089
up €591,089 (+137%), from €429,981 to €1.0m
of which Trade receivables: +€587,061
- Cash -€513,398
down €513,398 (-38.1%), from €1.3m to €833,813
mainly Receivables within one year (-€591,089) and Stocks and contracts (-€225,787)
- Stocks and contracts +€225,787
up €225,787 (+66.8%), from €337,996 to €563,783
of which Stocks: +€284,655
- Profit (loss) carried forward +€185,412
up €185,412 (+4.3%), from €4.3m to €4.5m
- Tax, wage and social debts +€74,944
up €74,944 (+26.7%), from €280,812 to €355,756
of which Remuneration and social security: +€54,184
- Staff costs +€154,184
up €154,184 (+12.5%), from €1.2m to €1.4m
- Taxes -€39,371
down €39,371 (-24.3%), from €161,912 to €122,541
- Depreciation +€29,277
up €29,277 (+55.1%), from €53,113 to €82,390
- Gross operating margin +€20,515
up €20,515 (+1.1%), from €1.9m to €2.0m
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 | €5,107,311 | €5,416,013 | +€308,701 | +6.0% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €916,956 | €960,053 | +€43,097 | +4.7% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €916,807 | €959,904 | +€43,097 | +4.7% |
| Land and buildings | 22 | €842,091 | €910,843 | +€68,751 | +8.2% |
| Plant, machinery and equipment | 23 | €61,287 | €45,231 | -€16,056 | -26.2% |
| Furniture and vehicles | 24 | €13,429 | €3,831 | -€9,598 | -71.5% |
| Financial fixed assets | 28 | €149 | €149 | = | 0.0% |
| Current assets | 29/58 | €4,190,356 | €4,455,960 | +€265,604 | +6.3% |
| Stocks and contracts in progress | 3 | €337,996 | €563,783 | +€225,787 | +66.8% |
| Stocks | 30/36 | €192,269 | €476,924 | +€284,655 | +148% |
| Contracts in progress | 37 | €145,727 | €86,859 | -€58,869 | -40.4% |
| Amounts receivable within one year | 40/41 | €429,981 | €1,021,069 | +€591,089 | +137% |
| Trade receivables | 40 | €375,700 | €962,760 | +€587,061 | +156% |
| Other amounts receivable | 41 | €54,281 | €58,309 | +€4,028 | +7.4% |
| Current investments | 50/53 | €2,000,000 | €2,000,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,347,210 | €833,813 | -€513,398 | -38.1% |
| Deferred charges and accrued income | 490/1 | €75,169 | €37,295 | -€37,874 | -50.4% |
| Total equity and liabilities | 10/49 | €5,107,311 | €5,416,013 | +€308,701 | +6.0% |
| Equity | 10/15 | €4,532,645 | €4,718,057 | +€185,412 | +4.1% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €20,000 | €20,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Legal reserve | 130 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,312,645 | €4,498,057 | +€185,412 | +4.3% |
| Amounts payable | 17/49 | €574,666 | €697,956 | +€123,290 | +21.5% |
| Amounts payable within one year | 42/48 | €559,509 | €688,003 | +€128,494 | +23.0% |
| Trade debts | 44 | €65,335 | €115,491 | +€50,156 | +76.8% |
| Suppliers | 440/4 | €65,335 | €115,491 | +€50,156 | +76.8% |
| Taxes, remuneration and social security | 45 | €280,812 | €355,756 | +€74,944 | +26.7% |
| Taxes | 450/3 | €142,468 | €163,228 | +€20,760 | +14.6% |
| Remuneration and social security | 454/9 | €138,344 | €192,528 | +€54,184 | +39.2% |
| Other amounts payable | 47/48 | €213,362 | €216,755 | +€3,393 | +1.6% |
| Accrued charges and deferred income | 492/3 | €15,157 | €9,953 | -€5,204 | -34.3% |
| Non-recurring operating income | 76A | €81,890 | - | -€81,890 | |
| Remuneration, social security and pensions | 62 | €1,233,338 | €1,387,522 | +€154,184 | +12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,113 | €82,390 | +€29,277 | +55.1% |
| Other operating charges | 640/8 | €32,419 | €19,898 | -€12,520 | -38.6% |
| Gross operating margin | 9900 | €1,943,634 | €1,964,149 | +€20,515 | +1.1% |
| Operating profit (loss) | 9901 | €624,764 | €474,338 | -€150,426 | -24.1% |
| Financial income | 75/76B | €60,182 | €51,581 | -€8,601 | -14.3% |
| Recurring financial income | 75 | €60,182 | €51,581 | -€8,601 | -14.3% |
| Financial charges | 65/66B | €7,723 | €4,617 | -€3,105 | -40.2% |
| Recurring financial charges | 65 | €7,723 | €4,617 | -€3,105 | -40.2% |
| Profit (loss) for the period before taxes | 9903 | €677,224 | €521,302 | -€155,922 | -23.0% |
| Income taxes | 67/77 | €161,912 | €122,541 | -€39,371 | -24.3% |
| Profit (loss) for the period | 9904 | €515,312 | €398,761 | -€116,552 | -22.6% |
| Profit (loss) for the period to be appropriated | 9905 | €515,312 | €398,761 | -€116,552 | -22.6% |
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 30 October 2026 via checked.be.