MECHELEN ZUID PROJECTS: what changed
What changed
MECHELEN ZUID PROJECTS
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€70,343
2024 · €51,434+€18,909
Equity
€257,606
2024 · €307,263-€49,657
Cash
€2,856
2024 · €2,022+€834
Balance sheet total
€1.2m
2024 · €1.2m-€41,283
Largest movements
Assets
- Receivables within one year -€51,865
down €51,865 (-29.8%), from €174,218 to €122,353
of which Trade receivables: -€52,848
Equity and liabilities
- Other debts +€120,000
new in 2025: €120,000
- Debts after one year -€89,098
down €89,098 (-11.2%), from €794,008 to €704,911
- Profit (loss) carried forward -€49,657
down €49,657 (-51.8%), from €95,843 to €46,186
- Trade debts -€22,639
down €22,639 (-88.7%), from €25,534 to €2,895
Income statement
- Financial charges -€22,531
down €22,531 (-42.0%), from €53,633 to €31,102
- Depreciation +€15,433
up €15,433 (+25.0%), from €61,618 to €77,051
- Gross operating margin +€14,756
up €14,756 (+6.6%), from €225,155 to €239,912
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€51,434
Gross operating margin
+€14,756
Depreciation
-€15,433
Other operating charges
-€1,278
Financial charges
+€22,531
Taxes
-€1,667
Result 2025
€70,343
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€296,731
Investment
-€86,799
Financing
-€209,098
Cash 2024
€2,022
From operations (derived)
+€296,731
Net result for the year
+€70,343
Depreciation
+€77,051
Receivables within one year
+€51,865
Trade debts
-€22,639
Tax, wage and social debts
-€2,810
Other debts
+€120,000
Accrued charges and deferred income
+€2,921
Investment (derived)
-€86,799
Investment in fixed assets (net)
-€86,799
Financing
-€209,098
Debts after one year
-€89,098
Contributions, distributions and other
-€120,000
Cash 2025
€2,856
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,204,774 | €1,163,491 | -€41,283 | -3.4% |
| Fixed assets | 21/28 | €1,028,534 | €1,038,282 | +€9,748 | +0.9% |
| Tangible fixed assets | 22/27 | €1,028,534 | €1,038,282 | +€9,748 | +0.9% |
| Land and buildings | 22 | €1,028,534 | €1,038,282 | +€9,748 | +0.9% |
| Current assets | 29/58 | €176,240 | €125,209 | -€51,031 | -29.0% |
| Amounts receivable within one year | 40/41 | €174,218 | €122,353 | -€51,865 | -29.8% |
| Trade receivables | 40 | €135,892 | €83,043 | -€52,848 | -38.9% |
| Other amounts receivable | 41 | €38,326 | €39,310 | +€983 | +2.6% |
| Cash at bank and in hand | 54/58 | €2,022 | €2,856 | +€834 | +41.2% |
| Total equity and liabilities | 10/49 | €1,204,774 | €1,163,491 | -€41,283 | -3.4% |
| Equity | 10/15 | €307,263 | €257,606 | -€49,657 | -16.2% |
| Contributions | 10/11 | €192,200 | €192,200 | = | 0.0% |
| Capital | 10 | €192,200 | €192,200 | = | 0.0% |
| Issued capital | 100 | €192,200 | €192,200 | = | 0.0% |
| Reserves | 13 | €19,220 | €19,220 | = | 0.0% |
| Non-distributable reserves | 130/1 | €19,220 | €19,220 | = | 0.0% |
| Legal reserve | 130 | €19,220 | €19,220 | = | 0.0% |
| Profit (loss) carried forward | 14 | €95,843 | €46,186 | -€49,657 | -51.8% |
| Amounts payable | 17/49 | €897,511 | €905,885 | +€8,374 | +0.9% |
| Amounts payable after more than one year | 17 | €794,008 | €704,911 | -€89,098 | -11.2% |
| Other amounts payable | 178/9 | €794,008 | €704,911 | -€89,098 | -11.2% |
| Amounts payable within one year | 42/48 | €28,386 | €122,937 | +€94,550 | +333% |
| Trade debts | 44 | €25,534 | €2,895 | -€22,639 | -88.7% |
| Suppliers | 440/4 | €25,534 | €2,895 | -€22,639 | -88.7% |
| Taxes, remuneration and social security | 45 | €2,852 | €42 | -€2,810 | -98.5% |
| Taxes | 450/3 | €2,852 | €42 | -€2,810 | -98.5% |
| Other amounts payable | 47/48 | - | €120,000 | +€120,000 | |
| Accrued charges and deferred income | 492/3 | €75,117 | €78,038 | +€2,921 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,618 | €77,051 | +€15,433 | +25.0% |
| Other operating charges | 640/8 | €40,827 | €42,104 | +€1,278 | +3.1% |
| Gross operating margin | 9900 | €225,155 | €239,912 | +€14,756 | +6.6% |
| Operating profit (loss) | 9901 | €122,711 | €120,756 | -€1,955 | -1.6% |
| Financial charges | 65/66B | €53,633 | €31,102 | -€22,531 | -42.0% |
| Recurring financial charges | 65 | €53,633 | €31,102 | -€22,531 | -42.0% |
| Profit (loss) for the period before taxes | 9903 | €69,077 | €89,654 | +€20,576 | +29.8% |
| Income taxes | 67/77 | €17,643 | €19,311 | +€1,667 | +9.4% |
| Profit (loss) for the period | 9904 | €51,434 | €70,343 | +€18,909 | +36.8% |
| Profit (loss) for the period to be appropriated | 9905 | €51,434 | €70,343 | +€18,909 | +36.8% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.