MECHELAIR: 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.
MECHELAIR
Largest movements
- Cash -€271,342
down €271,342 (-60.4%), from €449,083 to €177,741
mainly Investment in fixed assets (net) (-€240,957) and Other debts (-€118,409)
- Tangible fixed assets +€216,400
up €216,400 (+81.2%), from €266,387 to €482,787
of which Other tangible fixed assets: +€205,514
- Receivables within one year -€187,912
down €187,912 (-61.4%), from €305,819 to €117,908
of which Other amounts receivable: -€162,789
- Stocks and contracts +€54,957
up €54,957 (+54.8%), from €100,200 to €155,157
- Current investments +€14,677
new in 2025: €14,677
- Other debts -€118,409
down €118,409 (-70.0%), from €169,070 to €50,661
- Debts after one year -€105,392
down €105,392 (-19.0%), from €554,991 to €449,599
of which Financial debts: -€105,392
- Reserves +€100,727
up €100,727 (+46.6%), from €216,200 to €316,927
- Trade debts -€71,589
down €71,589 (-59.8%), from €119,772 to €48,183
- Current portion of long-term debt +€11,723
new in 2025: €11,723
- Gross operating margin -€121,558
down €121,558 (-32.5%), from €374,015 to €252,457
- Taxes -€54,373
down €54,373 (-55.1%), from €98,704 to €44,331
- Depreciation +€20,936
up €20,936 (+578%), from €3,622 to €24,558
- Staff costs +€18,506
up €18,506 (+41.1%), from €45,048 to €63,554
- Financial charges +€9,114
up €9,114 (+166%), from €5,499 to €14,612
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 | €1,124,007 | €949,450 | -€174,556 | -15.5% |
| Fixed assets | 21/28 | €266,387 | €482,787 | +€216,400 | +81.2% |
| Tangible fixed assets | 22/27 | €266,387 | €482,787 | +€216,400 | +81.2% |
| Plant, machinery and equipment | 23 | €8,130 | €16,261 | +€8,131 | +100% |
| Furniture and vehicles | 24 | €5,830 | €8,585 | +€2,755 | +47.3% |
| Other tangible fixed assets | 26 | €252,428 | €457,942 | +€205,514 | +81.4% |
| Current assets | 29/58 | €857,620 | €466,664 | -€390,956 | -45.6% |
| Stocks and contracts in progress | 3 | €100,200 | €155,157 | +€54,957 | +54.8% |
| Stocks | 30/36 | €100,200 | €155,157 | +€54,957 | +54.8% |
| Amounts receivable within one year | 40/41 | €305,819 | €117,908 | -€187,912 | -61.4% |
| Trade receivables | 40 | €102,956 | €77,833 | -€25,123 | -24.4% |
| Other amounts receivable | 41 | €202,864 | €40,075 | -€162,789 | -80.2% |
| Current investments | 50/53 | - | €14,677 | +€14,677 | |
| Cash at bank and in hand | 54/58 | €449,083 | €177,741 | -€271,342 | -60.4% |
| Deferred charges and accrued income | 490/1 | €2,517 | €1,181 | -€1,336 | -53.1% |
| Total equity and liabilities | 10/49 | €1,124,007 | €949,450 | -€174,556 | -15.5% |
| Equity | 10/15 | €228,200 | €328,927 | +€100,727 | +44.1% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Reserves | 13 | €216,200 | €316,927 | +€100,727 | +46.6% |
| Distributable reserves | 133 | €216,200 | €316,927 | +€100,727 | +46.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €895,807 | €620,524 | -€275,283 | -30.7% |
| Amounts payable after more than one year | 17 | €554,991 | €449,599 | -€105,392 | -19.0% |
| Financial debts | 170/4 | €394,991 | €289,599 | -€105,392 | -26.7% |
| Other amounts payable | 178/9 | €160,000 | €160,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €340,816 | €170,925 | -€169,892 | -49.8% |
| Current portion of amounts payable after more than one year | 42 | - | €11,723 | +€11,723 | |
| Financial debts | 43 | €16,891 | €16,964 | +€73 | +0.4% |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | €16,891 | €16,964 | +€73 | +0.4% |
| Trade debts | 44 | €119,772 | €48,183 | -€71,589 | -59.8% |
| Suppliers | 440/4 | €119,772 | €48,183 | -€71,589 | -59.8% |
| Taxes, remuneration and social security | 45 | €35,083 | €43,393 | +€8,310 | +23.7% |
| Taxes | 450/3 | €33,960 | €33,726 | -€234 | -0.7% |
| Remuneration and social security | 454/9 | €1,123 | €9,667 | +€8,544 | +761% |
| Other amounts payable | 47/48 | €169,070 | €50,661 | -€118,409 | -70.0% |
| Remuneration, social security and pensions | 62 | €45,048 | €63,554 | +€18,506 | +41.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,622 | €24,558 | +€20,936 | +578% |
| Other operating charges | 640/8 | €6,621 | €5,288 | -€1,333 | -20.1% |
| Non-recurring operating charges | 66A | €315 | €0 | -€315 | -100% |
| Gross operating margin | 9900 | €374,015 | €252,457 | -€121,558 | -32.5% |
| Operating profit (loss) | 9901 | €318,409 | €159,057 | -€159,352 | -50.0% |
| Financial income | 75/76B | €1,793 | €613 | -€1,180 | -65.8% |
| Recurring financial income | 75 | €1,793 | €613 | -€1,180 | -65.8% |
| Financial charges | 65/66B | €5,499 | €14,612 | +€9,114 | +166% |
| Recurring financial charges | 65 | €5,499 | €14,612 | +€9,114 | +166% |
| Profit (loss) for the period before taxes | 9903 | €314,704 | €145,058 | -€169,646 | -53.9% |
| Income taxes | 67/77 | €98,704 | €44,331 | -€54,373 | -55.1% |
| Profit (loss) for the period | 9904 | €215,999 | €100,727 | -€115,272 | -53.4% |
| Profit (loss) for the period to be appropriated | 9905 | €215,999 | €100,727 | -€115,272 | -53.4% |
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 26 October 2026 via checked.be.