MECARO: 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.
MECARO
Largest movements
- Tangible fixed assets +€81,992
up €81,992 (+85.8%), from €95,587 to €177,579
- Receivables within one year +€77,348
up €77,348 (+52.6%), from €147,156 to €224,503
- Trade debts +€138,723
up €138,723 (+313.4%), from €44,259 to €182,981
- Debts after one year +€75,848
up €75,848 (+89.9%), from €84,344 to €160,191
- Profit (loss) carried forward -€59,088
down €59,088 (-365.1%), from -€16,185 to -€75,274
- Current portion of long-term debt +€14,469
up €14,469 (+115.8%), from €12,496 to €26,965
- Tax, wage and social debts -€10,897
down €10,897 (-46.2%), from €23,576 to €12,679
of which Remuneration and social security: -€10,451
- Gross operating margin -€37,375
down €37,375 (-25.4%), from €147,070 to €109,695
- Depreciation +€23,396
up €23,396 (+542.5%), from €4,313 to €27,708
- Staff costs -€12,822
down €12,822 (-9.0%), from €142,923 to €130,101
- Financial charges +€5,229
up €5,229 (+377.0%), from €1,387 to €6,616
- Other operating charges +€2,659
up €2,659 (+156.5%), from €1,699 to €4,358
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 | €244,189 | €403,243 | +€159,054 | +65.1% |
| Fixed assets | 21/28 | €96,127 | €178,254 | +€82,127 | +85.4% |
| Tangible fixed assets | 22/27 | €95,587 | €177,579 | +€81,992 | +85.8% |
| Leasing and similar rights | 25 | €95,587 | €177,579 | +€81,992 | +85.8% |
| Financial fixed assets | 28 | €540 | €675 | +€135 | +25.0% |
| Current assets | 29/58 | €148,061 | €224,989 | +€76,928 | +52.0% |
| Amounts receivable within one year | 40/41 | €147,156 | €224,503 | +€77,348 | +52.6% |
| Trade receivables | 40 | €147,156 | €224,503 | +€77,348 | +52.6% |
| Cash at bank and in hand | 54/58 | €906 | €486 | -€420 | -46.4% |
| Total equity and liabilities | 10/49 | €244,189 | €403,243 | +€159,054 | +65.1% |
| Equity | 10/15 | €79,515 | €20,426 | -€59,088 | -74.3% |
| Contributions | 10/11 | €87,000 | €87,000 | = | 0.0% |
| Capital | 10 | €87,000 | €87,000 | = | 0.0% |
| Issued capital | 100 | €87,000 | €87,000 | = | 0.0% |
| Reserves | 13 | €8,700 | €8,700 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,700 | €8,700 | = | 0.0% |
| Legal reserve | 130 | €8,700 | €8,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,185 | -€75,274 | -€59,088 | -365.1% |
| Amounts payable | 17/49 | €164,674 | €382,817 | +€218,143 | +132.5% |
| Amounts payable after more than one year | 17 | €84,344 | €160,191 | +€75,848 | +89.9% |
| Financial debts | 170/4 | €84,344 | €160,191 | +€75,848 | +89.9% |
| Amounts payable within one year | 42/48 | €80,330 | €222,625 | +€142,295 | +177.1% |
| Current portion of amounts payable after more than one year | 42 | €12,496 | €26,965 | +€14,469 | +115.8% |
| Trade debts | 44 | €44,259 | €182,981 | +€138,723 | +313.4% |
| Suppliers | 440/4 | €44,259 | €182,981 | +€138,723 | +313.4% |
| Taxes, remuneration and social security | 45 | €23,576 | €12,679 | -€10,897 | -46.2% |
| Taxes | 450/3 | €1,083 | €637 | -€445 | -41.1% |
| Remuneration and social security | 454/9 | €22,493 | €12,042 | -€10,451 | -46.5% |
| Non-recurring operating income | 76A | €7,328 | €3,000 | -€4,328 | -59.1% |
| Remuneration, social security and pensions | 62 | €142,923 | €130,101 | -€12,822 | -9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,313 | €27,708 | +€23,396 | +542.5% |
| Other operating charges | 640/8 | €1,699 | €4,358 | +€2,659 | +156.5% |
| Gross operating margin | 9900 | €147,070 | €109,695 | -€37,375 | -25.4% |
| Operating profit (loss) | 9901 | -€1,865 | -€52,472 | -€50,607 | -2713.3% |
| Financial charges | 65/66B | €1,387 | €6,616 | +€5,229 | +377.0% |
| Recurring financial charges | 65 | €1,387 | €6,616 | +€5,229 | +377.0% |
| Profit (loss) for the period before taxes | 9903 | -€3,252 | -€59,088 | -€55,836 | -1716.9% |
| Profit (loss) for the period | 9904 | -€3,252 | -€59,088 | -€55,836 | -1716.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,252 | -€59,088 | -€55,836 | -1716.9% |
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 8 October 2026 via checked.be.