MECODO: 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.
What changed
MECODO
NACE 46.832, Wholesale of timber
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€26,785
2024 · €15,803+€10,982
Equity
€217,718
2024 · €190,933+€26,785
Cash
€7,113
2024 · €3,621+€3,492
Balance sheet total
€854,214
2024 · €857,175-€2,961
Largest movements
Assets
- Tangible fixed assets -€20,763
down €20,763 (-3.1%), from €660,703 to €639,940
of which Land and buildings: -€20,547
- Receivables within one year +€19,263
up €19,263 (+19.2%), from €100,212 to €119,474
of which Trade receivables: +€18,851
Equity and liabilities
- Debts after one year -€45,608
down €45,608 (-30.0%), from €152,026 to €106,418
- Reserves +€26,785
up €26,785 (+15.5%), from €172,333 to €199,118
- Trade debts +€16,541
up €16,541 (+38.2%), from €43,342 to €59,883
Income statement
- Gross operating margin +€12,889
up €12,889 (+19.2%), from €67,269 to €80,158
- Taxes +€4,693
up €4,693 (+56.6%), from €8,286 to €12,980
- Financial charges -€1,383
down €1,383 (-6.0%), from €22,896 to €21,513
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.
Result 2024
€15,803
Gross operating margin
+€12,889
Depreciation
+€44
Other operating charges
+€197
Other operating items
+€603
Financial income
+€560
Financial charges
+€1,383
Taxes
-€4,693
Result 2025
€26,785
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€49,100
Investment
€0
Financing
-€45,608
Cash 2024
€3,621
From operations (derived)
+€49,100
Net result for the year
+€26,785
Depreciation
+€20,815
Stocks and contracts
+€5,961
Receivables within one year
-€19,263
Deferred charges and accrued income
-€1,060
Provisions
-€2,598
Trade debts
+€16,541
Tax, wage and social debts
+€3,116
Other debts
-€1,269
Accrued charges and deferred income
+€72
Financing
-€45,608
Debts after one year
-€45,608
Cash 2025
€7,113
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €857,175 | €854,214 | -€2,961 | -0.3% |
| Fixed assets | 21/28 | €663,518 | €642,703 | -€20,815 | -3.1% |
| Intangible fixed assets | 21 | €365 | €313 | -€51 | -14.1% |
| Tangible fixed assets | 22/27 | €660,703 | €639,940 | -€20,763 | -3.1% |
| Land and buildings | 22 | €660,487 | €639,940 | -€20,547 | -3.1% |
| Plant, machinery and equipment | 23 | €216 | €0 | -€216 | -100% |
| Financial fixed assets | 28 | €2,450 | €2,450 | = | 0.0% |
| Current assets | 29/58 | €193,657 | €211,511 | +€17,853 | +9.2% |
| Stocks and contracts in progress | 3 | €83,825 | €77,864 | -€5,961 | -7.1% |
| Stocks | 30/36 | €83,825 | €77,864 | -€5,961 | -7.1% |
| Amounts receivable within one year | 40/41 | €100,212 | €119,474 | +€19,263 | +19.2% |
| Trade receivables | 40 | €99,358 | €118,209 | +€18,851 | +19.0% |
| Other amounts receivable | 41 | €854 | €1,266 | +€412 | +48.3% |
| Cash at bank and in hand | 54/58 | €3,621 | €7,113 | +€3,492 | +96.4% |
| Deferred charges and accrued income | 490/1 | €5,999 | €7,060 | +€1,060 | +17.7% |
| Total equity and liabilities | 10/49 | €857,175 | €854,214 | -€2,961 | -0.3% |
| Equity | 10/15 | €190,933 | €217,718 | +€26,785 | +14.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €172,333 | €199,118 | +€26,785 | +15.5% |
| Distributable reserves | 133 | €172,333 | €199,118 | +€26,785 | +15.5% |
| Provisions and deferred taxes | 16 | €8,491 | €5,892 | -€2,598 | -30.6% |
| Provisions for liabilities and charges | 160/5 | €8,491 | €5,892 | -€2,598 | -30.6% |
| Other liabilities and charges | 164/5 | €8,491 | €5,892 | -€2,598 | -30.6% |
| Amounts payable | 17/49 | €657,751 | €630,604 | -€27,148 | -4.1% |
| Amounts payable after more than one year | 17 | €152,026 | €106,418 | -€45,608 | -30.0% |
| Financial debts | 170/4 | €152,026 | €106,418 | -€45,608 | -30.0% |
| Amounts payable within one year | 42/48 | €493,613 | €512,000 | +€18,388 | +3.7% |
| Current portion of amounts payable after more than one year | 42 | €345,608 | €345,608 | = | 0.0% |
| Trade debts | 44 | €43,342 | €59,883 | +€16,541 | +38.2% |
| Suppliers | 440/4 | €43,342 | €59,883 | +€16,541 | +38.2% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €3,788 | €6,903 | +€3,116 | +82.3% |
| Taxes | 450/3 | €3,788 | €6,903 | +€3,116 | +82.3% |
| Other amounts payable | 47/48 | €100,875 | €99,606 | -€1,269 | -1.3% |
| Accrued charges and deferred income | 492/3 | €12,113 | €12,185 | +€72 | +0.6% |
| Non-recurring operating income | 76A | - | €2,598 | +€2,598 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,858 | €20,815 | -€44 | -0.2% |
| Other operating charges | 640/8 | €3,894 | €3,697 | -€197 | -5.1% |
| Non-recurring operating charges | 66A | €603 | €0 | -€603 | -100% |
| Gross operating margin | 9900 | €67,269 | €80,158 | +€12,889 | +19.2% |
| Operating profit (loss) | 9901 | €41,914 | €55,646 | +€13,733 | +32.8% |
| Financial income | 75/76B | €5,072 | €5,631 | +€560 | +11.0% |
| Recurring financial income | 75 | €5,072 | €5,631 | +€560 | +11.0% |
| Financial charges | 65/66B | €22,896 | €21,513 | -€1,383 | -6.0% |
| Recurring financial charges | 65 | €22,896 | €21,513 | -€1,383 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €24,089 | €39,765 | +€15,675 | +65.1% |
| Income taxes | 67/77 | €8,286 | €12,980 | +€4,693 | +56.6% |
| Profit (loss) for the period | 9904 | €15,803 | €26,785 | +€10,982 | +69.5% |
| Profit (loss) for the period to be appropriated | 9905 | €15,803 | €26,785 | +€10,982 | +69.5% |
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 14 October 2026 via checked.be.