MECAPNEU: 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.
MECAPNEU
Largest movements
- Stocks and contracts +€27,924
up €27,924 (+31.1%), from €89,654 to €117,578
- Tangible fixed assets -€20,314
down €20,314 (-10.1%), from €201,961 to €181,647
of which Leasing and similar rights: -€19,023
- Cash -€9,688
down €9,688 (-64.6%), from €15,001 to €5,313
mainly Debts after one year (-€30,984) and Stocks and contracts (-€27,924)
- Receivables within one year +€8,228
up €8,228 (+5.5%), from €148,411 to €156,639
of which Other amounts receivable: +€11,275
- Trade debts +€49,399
up €49,399 (+123.9%), from €39,874 to €89,272
- Debts after one year -€30,984
down €30,984 (-45.5%), from €68,097 to €37,112
- Other debts +€19,023
up €19,023 (+632.9%), from €3,006 to €22,029
- Tax, wage and social debts -€13,666
down €13,666 (-16.4%), from €83,444 to €69,777
of which Taxes: -€15,102
- Reserves -€6,711
down €6,711 (-6.2%), from €109,040 to €102,329
of which Tax-exempt reserves: -€3,644
- Other operating charges +€27,066
up €27,066 (+830.7%), from €3,258 to €30,325
- Taxes -€10,263
down €10,263 (-58.2%), from €17,630 to €7,367
- Staff costs +€8,570
up €8,570 (+5.5%), from €155,500 to €164,069
- Gross operating margin +€4,715
up €4,715 (+1.9%), from €254,249 to €258,964
- Depreciation +€4,483
up €4,483 (+16.4%), from €27,256 to €31,738
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 | €456,610 | €462,760 | +€6,150 | +1.3% |
| Fixed assets | 21/28 | €202,109 | €181,795 | -€20,314 | -10.1% |
| Tangible fixed assets | 22/27 | €201,961 | €181,647 | -€20,314 | -10.1% |
| Land and buildings | 22 | €81,594 | €90,631 | +€9,038 | +11.1% |
| Plant, machinery and equipment | 23 | €27,806 | €21,288 | -€6,519 | -23.4% |
| Furniture and vehicles | 24 | - | €3,791 | +€3,791 | |
| Leasing and similar rights | 25 | €84,960 | €65,937 | -€19,023 | -22.4% |
| Assets under construction and advance payments | 27 | €7,601 | - | -€7,601 | |
| Financial fixed assets | 28 | €148 | €148 | = | 0.0% |
| Current assets | 29/58 | €254,501 | €280,965 | +€26,464 | +10.4% |
| Stocks and contracts in progress | 3 | €89,654 | €117,578 | +€27,924 | +31.1% |
| Stocks | 30/36 | €89,654 | €117,578 | +€27,924 | +31.1% |
| Amounts receivable within one year | 40/41 | €148,411 | €156,639 | +€8,228 | +5.5% |
| Trade receivables | 40 | €34,356 | €31,309 | -€3,047 | -8.9% |
| Other amounts receivable | 41 | €114,055 | €125,330 | +€11,275 | +9.9% |
| Cash at bank and in hand | 54/58 | €15,001 | €5,313 | -€9,688 | -64.6% |
| Deferred charges and accrued income | 490/1 | €1,436 | €1,436 | = | 0.0% |
| Total equity and liabilities | 10/49 | €456,610 | €462,760 | +€6,150 | +1.3% |
| Equity | 10/15 | €197,088 | €190,377 | -€6,711 | -3.4% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €109,040 | €102,329 | -€6,711 | -6.2% |
| Tax-exempt reserves | 132 | €26,830 | €23,186 | -€3,644 | -13.6% |
| Distributable reserves | 133 | €82,211 | €79,143 | -€3,068 | -3.7% |
| Profit (loss) carried forward | 14 | €67,588 | €67,588 | = | 0.0% |
| Provisions and deferred taxes | 16 | €6,707 | €5,797 | -€911 | -13.6% |
| Deferred taxes | 168 | €6,707 | €5,797 | -€911 | -13.6% |
| Amounts payable | 17/49 | €252,814 | €266,587 | +€13,773 | +5.4% |
| Amounts payable after more than one year | 17 | €68,097 | €37,112 | -€30,984 | -45.5% |
| Financial debts | 170/4 | €68,097 | €37,112 | -€30,984 | -45.5% |
| Amounts payable within one year | 42/48 | €184,718 | €229,475 | +€44,757 | +24.2% |
| Current portion of amounts payable after more than one year | 42 | €36,122 | €31,852 | -€4,270 | -11.8% |
| Financial debts | 43 | €17,634 | €13,009 | -€4,625 | -26.2% |
| Credit institutions | 430/8 | €17,634 | €13,009 | -€4,625 | -26.2% |
| Trade debts | 44 | €39,874 | €89,272 | +€49,399 | +123.9% |
| Suppliers | 440/4 | €39,874 | €89,272 | +€49,399 | +123.9% |
| Advances received on contracts in progress | 46 | €4,639 | €3,535 | -€1,104 | -23.8% |
| Taxes, remuneration and social security | 45 | €83,444 | €69,777 | -€13,666 | -16.4% |
| Taxes | 450/3 | €53,488 | €38,386 | -€15,102 | -28.2% |
| Remuneration and social security | 454/9 | €29,956 | €31,392 | +€1,436 | +4.8% |
| Other amounts payable | 47/48 | €3,006 | €22,029 | +€19,023 | +632.9% |
| Remuneration, social security and pensions | 62 | €155,500 | €164,069 | +€8,570 | +5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,256 | €31,738 | +€4,483 | +16.4% |
| Other operating charges | 640/8 | €3,258 | €30,325 | +€27,066 | +830.7% |
| Gross operating margin | 9900 | €254,249 | €258,964 | +€4,715 | +1.9% |
| Operating profit (loss) | 9901 | €68,235 | €32,831 | -€35,404 | -51.9% |
| Financial income | 75/76B | €13 | €603 | +€590 | +4539.2% |
| Recurring financial income | 75 | €13 | €603 | +€590 | +4539.2% |
| Financial charges | 65/66B | €18,109 | €14,138 | -€3,971 | -21.9% |
| Recurring financial charges | 65 | €18,109 | €14,138 | -€3,971 | -21.9% |
| Profit (loss) for the period before taxes | 9903 | €50,139 | €19,296 | -€30,843 | -61.5% |
| Transfer from deferred taxes | 780 | €706 | €911 | +€205 | +29.0% |
| Income taxes | 67/77 | €17,630 | €7,367 | -€10,263 | -58.2% |
| Profit (loss) for the period | 9904 | €33,216 | €12,840 | -€20,375 | -61.3% |
| Transfer from tax-exempt reserves | 789 | €2,824 | €3,644 | +€819 | +29.0% |
| Profit (loss) for the period to be appropriated | 9905 | €36,040 | €16,484 | -€19,556 | -54.3% |
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 2 October 2026 via checked.be.