MECAREL: 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.
MECAREL
Largest movements
- Receivables within one year -€39,614
down €39,614 (-65.3%), from €60,704 to €21,090
of which Trade receivables: -€49,064
- Cash +€19,687
up €19,687 (+44.6%), from €44,122 to €63,809
mainly Depreciation (+€68,273) and Receivables within one year (+€39,614)
- Tangible fixed assets +€3,115
up €3,115 (+1.8%), from €177,074 to €180,189
of which Furniture and vehicles: +€10,036
- Trade debts -€15,106
down €15,106 (-65.3%), from €23,145 to €8,039
- Profit (loss) carried forward -€8,704
down €8,704 (-11.3%), from €77,220 to €68,516
- Tax, wage and social debts +€5,019
up €5,019 (+11.7%), from €42,916 to €47,935
- Write-downs +€45,000
new in 2025: €45,000
- Taxes -€18,747
down €18,747 (-64.5%), from €29,069 to €10,322
- Depreciation +€13,511
up €13,511 (+24.7%), from €54,762 to €68,273
- Gross operating margin -€9,074
down €9,074 (-5.4%), from €168,846 to €159,773
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 | €285,953 | €267,658 | -€18,295 | -6.4% |
| Formation expenses | 20 | €244 | €55 | -€189 | -77.5% |
| Fixed assets | 21/28 | €177,074 | €180,189 | +€3,115 | +1.8% |
| Tangible fixed assets | 22/27 | €177,074 | €180,189 | +€3,115 | +1.8% |
| Furniture and vehicles | 24 | €119,743 | €129,780 | +€10,036 | +8.4% |
| Other tangible fixed assets | 26 | €57,331 | €50,409 | -€6,922 | -12.1% |
| Current assets | 29/58 | €108,634 | €87,414 | -€21,220 | -19.5% |
| Amounts receivable within one year | 40/41 | €60,704 | €21,090 | -€39,614 | -65.3% |
| Trade receivables | 40 | €60,704 | €11,640 | -€49,064 | -80.8% |
| Other amounts receivable | 41 | - | €9,450 | +€9,450 | |
| Cash at bank and in hand | 54/58 | €44,122 | €63,809 | +€19,687 | +44.6% |
| Deferred charges and accrued income | 490/1 | €3,809 | €2,515 | -€1,293 | -34.0% |
| Total equity and liabilities | 10/49 | €285,953 | €267,658 | -€18,295 | -6.4% |
| Equity | 10/15 | €82,220 | €73,516 | -€8,704 | -10.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €77,220 | €68,516 | -€8,704 | -11.3% |
| Amounts payable | 17/49 | €203,733 | €194,142 | -€9,591 | -4.7% |
| Amounts payable after more than one year | 17 | €55,849 | €56,168 | +€318 | +0.6% |
| Financial debts | 170/4 | €55,849 | €56,168 | +€318 | +0.6% |
| Amounts payable within one year | 42/48 | €147,883 | €137,974 | -€9,909 | -6.7% |
| Current portion of amounts payable after more than one year | 42 | €45,318 | €46,278 | +€960 | +2.1% |
| Trade debts | 44 | €23,145 | €8,039 | -€15,106 | -65.3% |
| Suppliers | 440/4 | €23,145 | €8,039 | -€15,106 | -65.3% |
| Taxes, remuneration and social security | 45 | €42,916 | €47,935 | +€5,019 | +11.7% |
| Taxes | 450/3 | €42,916 | €47,935 | +€5,019 | +11.7% |
| Other amounts payable | 47/48 | €36,505 | €35,722 | -€782 | -2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,762 | €68,273 | +€13,511 | +24.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €45,000 | +€45,000 | |
| Other operating charges | 640/8 | €3,146 | €3,308 | +€162 | +5.2% |
| Non-recurring operating charges | 66A | €187 | €1,659 | +€1,472 | +787.0% |
| Gross operating margin | 9900 | €168,846 | €159,773 | -€9,074 | -5.4% |
| Operating profit (loss) | 9901 | €110,752 | €41,532 | -€69,219 | -62.5% |
| Financial income | 75/76B | €716 | €105 | -€610 | -85.3% |
| Recurring financial income | 75 | €420 | €105 | -€315 | -74.9% |
| Non-recurring financial income | 76B | €295 | €0 | -€295 | -100.0% |
| Financial charges | 65/66B | €5,178 | €5,020 | -€158 | -3.0% |
| Recurring financial charges | 65 | €5,178 | €5,020 | -€158 | -3.0% |
| Profit (loss) for the period before taxes | 9903 | €106,289 | €36,617 | -€69,672 | -65.5% |
| Income taxes | 67/77 | €29,069 | €10,322 | -€18,747 | -64.5% |
| Profit (loss) for the period | 9904 | €77,220 | €26,296 | -€50,925 | -65.9% |
| Profit (loss) for the period to be appropriated | 9905 | €77,220 | €26,296 | -€50,925 | -65.9% |
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.