MECALOG: 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.
MECALOG
Largest movements
- Tangible fixed assets -€28,933
down €28,933 (-7.5%), from €387,740 to €358,807
of which Land and buildings: -€19,999
- Receivables within one year -€16,510
down €16,510 (-32.3%), from €51,083 to €34,573
of which Trade receivables: -€29,934
- Cash +€9,622
up €9,622 (+117%), from €8,196 to €17,818
mainly Depreciation (+€24,249) and Net result for the year (+€18,307)
- Other debts -€50,406
down €50,406 (-82.4%), from €61,139 to €10,733
- Reserves +€18,307
up €18,307 (+13.1%), from €139,379 to €157,686
of which Distributable reserves: +€18,307
- Debts after one year -€15,831
down €15,831 (-7.7%), from €204,422 to €188,591
- Trade debts +€7,232
up €7,232 (+29.7%), from €24,325 to €31,557
- Tax, wage and social debts +€6,251
up €6,251 (+234%), from €2,673 to €8,924
- Gross operating margin -€26,030
down €26,030 (-26.3%), from €99,017 to €72,987
- Taxes +€10,853
up €10,853, from -€610 to €10,243
- Financial charges -€7,499
down €7,499 (-56.5%), from €13,282 to €5,783
of which Financial charges: -€7,577
- Other operating charges -€3,061
down €3,061 (-39.3%), from €7,791 to €4,730
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 | €464,512 | €429,521 | -€34,991 | -7.5% |
| Fixed assets | 21/28 | €403,540 | €374,607 | -€28,933 | -7.2% |
| Tangible fixed assets | 22/27 | €387,740 | €358,807 | -€28,933 | -7.5% |
| Land and buildings | 22 | €354,880 | €334,881 | -€19,999 | -5.6% |
| Plant, machinery and equipment | 23 | €30,695 | €22,332 | -€8,363 | -27.2% |
| Furniture and vehicles | 24 | €2,165 | €1,594 | -€571 | -26.4% |
| Financial fixed assets | 28 | €15,800 | €15,800 | = | 0.0% |
| Current assets | 29/58 | €60,972 | €54,914 | -€6,058 | -9.9% |
| Amounts receivable within one year | 40/41 | €51,083 | €34,573 | -€16,510 | -32.3% |
| Trade receivables | 40 | €44,255 | €14,321 | -€29,934 | -67.6% |
| Other amounts receivable | 41 | €6,828 | €20,252 | +€13,424 | +197% |
| Cash at bank and in hand | 54/58 | €8,196 | €17,818 | +€9,622 | +117% |
| Deferred charges and accrued income | 490/1 | €1,693 | €2,522 | +€829 | +49.0% |
| Total equity and liabilities | 10/49 | €464,512 | €429,521 | -€34,991 | -7.5% |
| Equity | 10/15 | €145,579 | €163,886 | +€18,307 | +12.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €139,379 | €157,686 | +€18,307 | +13.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €137,519 | €155,826 | +€18,307 | +13.3% |
| Amounts payable | 17/49 | €318,933 | €265,635 | -€53,298 | -16.7% |
| Amounts payable after more than one year | 17 | €204,422 | €188,591 | -€15,831 | -7.7% |
| Financial debts | 170/4 | €204,422 | €188,591 | -€15,831 | -7.7% |
| Amounts payable within one year | 42/48 | €114,511 | €77,045 | -€37,466 | -32.7% |
| Current portion of amounts payable after more than one year | 42 | €16,374 | €15,831 | -€543 | -3.3% |
| Financial debts | 43 | €10,000 | €10,000 | = | 0.0% |
| Credit institutions | 430/8 | €10,000 | - | -€10,000 | |
| Other loans | 439 | - | €10,000 | +€10,000 | |
| Trade debts | 44 | €24,325 | €31,557 | +€7,232 | +29.7% |
| Suppliers | 440/4 | €24,325 | €31,557 | +€7,232 | +29.7% |
| Taxes, remuneration and social security | 45 | €2,673 | €8,924 | +€6,251 | +234% |
| Taxes | 450/3 | €2,673 | €8,924 | +€6,251 | +234% |
| Other amounts payable | 47/48 | €61,139 | €10,733 | -€50,406 | -82.4% |
| Non-recurring operating income | 76A | €424 | €3 | -€421 | -99.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,074 | €24,249 | +€175 | +0.7% |
| Other operating charges | 640/8 | €7,791 | €4,730 | -€3,061 | -39.3% |
| Non-recurring operating charges | 66A | €50,840 | €9,711 | -€41,129 | -80.9% |
| Gross operating margin | 9900 | €99,017 | €72,987 | -€26,030 | -26.3% |
| Operating profit (loss) | 9901 | €16,312 | €34,297 | +€17,985 | +110% |
| Financial income | 75/76B | - | €37 | +€37 | |
| Recurring financial income | 75 | - | €37 | +€37 | |
| Financial charges | 65/66B | €13,282 | €5,783 | -€7,499 | -56.5% |
| Recurring financial charges | 65 | €12,911 | €5,334 | -€7,577 | -58.7% |
| Non-recurring financial charges | 66B | €371 | €450 | +€79 | +21.3% |
| Profit (loss) for the period before taxes | 9903 | €3,030 | €28,550 | +€25,520 | +842% |
| Income taxes | 67/77 | -€610 | €10,243 | +€10,853 | |
| Profit (loss) for the period | 9904 | €3,640 | €18,307 | +€14,667 | +403% |
| Profit (loss) for the period to be appropriated | 9905 | €3,640 | €18,307 | +€14,667 | +403% |
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 28 October 2026 via checked.be.