MECASEAT: 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.
MECASEAT
Largest movements
- Current investments -€5.6m
down €5.6m (-53.2%), from €10.5m to €4.9m
of which Other investments: -€5.6m
- Cash +€2.5m
up €2.5m (+273.8%), from €902,611 to €3.4m
mainly Current investments (+€5.6m) and Investment in fixed assets (net) (+€495,000)
- Financial fixed assets -€500,000
down €500,000 (-7.2%), from €6.9m to €6.4m
- Receivables within one year -€372,982
down €372,982 (-79.6%), from €468,423 to €95,441
of which Other amounts receivable: -€343,888
- Other debts -€3.7m
down €3.7m (-93.9%), from €3.9m to €239,497
- Reserves -€322,920
down €322,920 (-3.1%), from €10.4m to €10.1m
of which Distributable reserves: -€322,920
- Financial charges -€3.2m
down €3.2m (-85.6%), from €3.7m to €538,536
of which Non-recurring financial charges: -€2.8m
- Financial income -€410,316
down €410,316 (-34.6%), from €1.2m to €776,344
of which Financial income: -€800,620
- Services and other goods -€268,281
down €268,281 (-30.1%), from €892,301 to €624,021
- Other operating income +€35,576
up €35,576 (+47.7%), from €74,547 to €110,123
- Staff costs -€30,506
down €30,506 (-18.7%), from €163,075 to €132,568
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 | €18,857,571 | €14,816,693 | -€4.0m | -21.4% |
| Fixed assets | 21/28 | €6,910,153 | €6,412,953 | -€497,200 | -7.2% |
| Intangible fixed assets | 21 | €6,800 | €9,600 | +€2,800 | +41.2% |
| Financial fixed assets | 28 | €6,903,353 | €6,403,353 | -€500,000 | -7.2% |
| Affiliated companies | 280/1 | €6,903,353 | €6,403,353 | -€500,000 | -7.2% |
| Participating interests | 280 | €6,903,353 | €6,403,353 | -€500,000 | -7.2% |
| Current assets | 29/58 | €11,947,418 | €8,403,740 | -€3.5m | -29.7% |
| Amounts receivable within one year | 40/41 | €468,423 | €95,441 | -€372,982 | -79.6% |
| Trade receivables | 40 | €29,965 | €871 | -€29,094 | -97.1% |
| Other amounts receivable | 41 | €438,458 | €94,570 | -€343,888 | -78.4% |
| Current investments | 50/53 | €10,518,835 | €4,925,568 | -€5.6m | -53.2% |
| Own shares | 50 | €1,091,810 | €1,091,810 | = | 0.0% |
| Other investments | 51/53 | €9,427,025 | €3,833,758 | -€5.6m | -59.3% |
| Cash at bank and in hand | 54/58 | €902,611 | €3,373,600 | +€2.5m | +273.8% |
| Deferred charges and accrued income | 490/1 | €57,549 | €9,131 | -€48,418 | -84.1% |
| Total equity and liabilities | 10/49 | €18,857,571 | €14,816,693 | -€4.0m | -21.4% |
| Equity | 10/15 | €14,796,278 | €14,473,358 | -€322,920 | -2.2% |
| Contributions | 10/11 | €4,419,840 | €4,419,840 | = | 0.0% |
| Capital | 10 | €4,419,840 | €4,419,840 | = | 0.0% |
| Issued capital | 100 | €4,419,840 | €4,419,840 | = | 0.0% |
| Reserves | 13 | €10,376,438 | €10,053,518 | -€322,920 | -3.1% |
| Non-distributable reserves | 130/1 | €1,533,794 | €1,533,794 | = | 0.0% |
| Legal reserve | 130 | €441,984 | €441,984 | = | 0.0% |
| Own shares acquired | 1312 | €1,091,810 | €1,091,810 | = | 0.0% |
| Distributable reserves | 133 | €8,842,644 | €8,519,724 | -€322,920 | -3.7% |
| Provisions and deferred taxes | 16 | €15,000 | €15,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €15,000 | €15,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €15,000 | €15,000 | = | 0.0% |
| Amounts payable | 17/49 | €4,046,293 | €328,335 | -€3.7m | -91.9% |
| Amounts payable within one year | 42/48 | €4,037,961 | €319,768 | -€3.7m | -92.1% |
| Trade debts | 44 | €69,543 | €51,342 | -€18,200 | -26.2% |
| Suppliers | 440/4 | €69,543 | €51,342 | -€18,200 | -26.2% |
| Taxes, remuneration and social security | 45 | €27,921 | €28,929 | +€1,008 | +3.6% |
| Taxes | 450/3 | - | €11,655 | +€11,655 | |
| Remuneration and social security | 454/9 | €27,921 | €17,274 | -€10,647 | -38.1% |
| Other amounts payable | 47/48 | €3,940,497 | €239,497 | -€3.7m | -93.9% |
| Accrued charges and deferred income | 492/3 | €8,333 | €8,567 | +€234 | +2.8% |
| Operating income | 70/76A | €194,547 | €209,558 | +€15,011 | +7.7% |
| Turnover | 70 | €120,000 | €99,435 | -€20,565 | -17.1% |
| Other operating income | 74 | €74,547 | €110,123 | +€35,576 | +47.7% |
| Operating charges | 60/66A | €1,088,338 | €769,312 | -€319,026 | -29.3% |
| Services and other goods | 61 | €892,301 | €624,021 | -€268,281 | -30.1% |
| Remuneration, social security and pensions | 62 | €163,075 | €132,568 | -€30,506 | -18.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,510 | €2,200 | -€23,310 | -91.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,042 | +€1,042 | |
| Other operating charges | 640/8 | €7,451 | €9,481 | +€2,030 | +27.2% |
| Operating profit (loss) | 9901 | -€893,790 | -€559,754 | +€334,037 | +37.4% |
| Financial income | 75/76B | €1,186,660 | €776,344 | -€410,316 | -34.6% |
| Recurring financial income | 75 | €1,186,660 | €386,039 | -€800,620 | -67.5% |
| Income from financial fixed assets | 750 | €500,000 | - | -€500,000 | |
| Income from current assets | 751 | €561,874 | €285,686 | -€276,188 | -49.2% |
| Other financial income | 752/9 | €124,785 | €100,353 | -€24,432 | -19.6% |
| Non-recurring financial income | 76B | - | €390,305 | +€390,305 | |
| Financial charges | 65/66B | €3,733,795 | €538,536 | -€3.2m | -85.6% |
| Recurring financial charges | 65 | €437,434 | €38,536 | -€398,898 | -91.2% |
| Debt charges | 650 | - | €3,610 | +€3,610 | |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €394,225 | €1,954 | -€392,272 | -99.5% |
| Other financial charges | 652/9 | €43,209 | €32,973 | -€10,236 | -23.7% |
| Non-recurring financial charges | 66B | €3,296,361 | €500,000 | -€2.8m | -84.8% |
| Profit (loss) for the period before taxes | 9903 | -€3,440,926 | -€321,946 | +€3.1m | +90.6% |
| Income taxes | 67/77 | €1,836 | €974 | -€862 | -47.0% |
| Taxes | 670/3 | €1,836 | €974 | -€862 | -47.0% |
| Profit (loss) for the period | 9904 | -€3,442,762 | -€322,920 | +€3.1m | +90.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,442,762 | -€322,920 | +€3.1m | +90.6% |
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 7 October 2026 via checked.be.