MEES: 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.
MEES
Largest movements
- Stocks and contracts -€2.6m
down €2.6m (-91.1%), from €2.8m to €251,796
- Cash +€2.5m
up €2.5m (+261%), from €939,329 to €3.4m
mainly Stocks and contracts (+€2.6m) and Net result for the year (+€2.0m)
- Tangible fixed assets +€1.9m
up €1.9m (+32.7%), from €5.8m to €7.7m
of which Leasing and similar rights: +€1.2m
- Current investments +€850,000
new in 2025: €850,000
- Receivables within one year -€564,261
down €564,261 (-6.4%), from €8.8m to €8.2m
of which Other amounts receivable: -€1.8m
- Current portion of long-term debt -€2.3m
down €2.3m (-49.6%), from €4.6m to €2.3m
- Other debts +€1.7m
up €1.7m (+106%), from €1.6m to €3.4m
- Trade debts +€1.6m
up €1.6m (+93.3%), from €1.7m to €3.2m
- Reserves -€1.4m
down €1.4m (-21.0%), from €6.4m to €5.1m
- Accrued charges and deferred income +€875,187
new in 2025: €875,187
- Gross operating margin +€1.2m
up €1.2m (+22.8%), from €5.4m to €6.6m
- Other operating charges -€1.0m
down €1.0m (-94.3%), from €1.1m to €63,272
- Taxes +€679,940
up €679,940 (+204%), from €333,452 to €1.0m
- Depreciation -€457,821
down €457,821 (-31.8%), from €1.4m to €982,481
- Staff costs +€417,097
up €417,097 (+24.7%), from €1.7m to €2.1m
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 | €18,359,746 | €20,400,003 | +€2.0m | +11.1% |
| Fixed assets | 21/28 | €5,787,483 | €7,679,598 | +€1.9m | +32.7% |
| Tangible fixed assets | 22/27 | €5,785,983 | €7,678,098 | +€1.9m | +32.7% |
| Land and buildings | 22 | €4,212,269 | €4,975,468 | +€763,198 | +18.1% |
| Plant, machinery and equipment | 23 | €193,266 | €214,955 | +€21,689 | +11.2% |
| Furniture and vehicles | 24 | €1,257,976 | €1,120,390 | -€137,586 | -10.9% |
| Leasing and similar rights | 25 | €122,472 | €1,367,286 | +€1.2m | +1,016% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €12,572,263 | €12,720,405 | +€148,142 | +1.2% |
| Stocks and contracts in progress | 3 | €2,819,785 | €251,796 | -€2.6m | -91.1% |
| Stocks | 30/36 | €2,819,785 | €251,796 | -€2.6m | -91.1% |
| Amounts receivable within one year | 40/41 | €8,791,015 | €8,226,754 | -€564,261 | -6.4% |
| Trade receivables | 40 | €2,054,942 | €3,271,347 | +€1.2m | +59.2% |
| Other amounts receivable | 41 | €6,736,072 | €4,955,407 | -€1.8m | -26.4% |
| Current investments | 50/53 | - | €850,000 | +€850,000 | |
| Cash at bank and in hand | 54/58 | €939,329 | €3,391,855 | +€2.5m | +261% |
| Deferred charges and accrued income | 490/1 | €22,135 | €0 | -€22,135 | -100% |
| Total equity and liabilities | 10/49 | €18,359,746 | €20,400,003 | +€2.0m | +11.1% |
| Equity | 10/15 | €6,448,295 | €5,093,666 | -€1.4m | -21.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €6,435,895 | €5,081,266 | -€1.4m | -21.0% |
| Distributable reserves | 133 | €6,435,895 | €5,081,266 | -€1.4m | -21.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €11,911,451 | €15,306,337 | +€3.4m | +28.5% |
| Amounts payable after more than one year | 17 | €3,090,426 | €3,152,356 | +€61,930 | +2.0% |
| Financial debts | 170/4 | €3,090,426 | €3,152,356 | +€61,930 | +2.0% |
| Amounts payable within one year | 42/48 | €8,821,025 | €11,278,794 | +€2.5m | +27.9% |
| Current portion of amounts payable after more than one year | 42 | €4,584,839 | €2,309,186 | -€2.3m | -49.6% |
| Financial debts | 43 | - | €854,294 | +€854,294 | |
| Credit institutions | 430/8 | - | €854,294 | +€854,294 | |
| Trade debts | 44 | €1,680,481 | €3,249,085 | +€1.6m | +93.3% |
| Suppliers | 440/4 | €1,680,481 | €3,249,085 | +€1.6m | +93.3% |
| Taxes, remuneration and social security | 45 | €913,444 | €1,477,443 | +€563,999 | +61.7% |
| Taxes | 450/3 | €835,085 | €1,346,811 | +€511,726 | +61.3% |
| Remuneration and social security | 454/9 | €78,359 | €130,632 | +€52,273 | +66.7% |
| Other amounts payable | 47/48 | €1,642,260 | €3,388,786 | +€1.7m | +106% |
| Accrued charges and deferred income | 492/3 | - | €875,187 | +€875,187 | |
| Remuneration, social security and pensions | 62 | €1,690,050 | €2,107,147 | +€417,097 | +24.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,440,302 | €982,481 | -€457,821 | -31.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €169,427 | +€169,427 | |
| Other operating charges | 640/8 | €1,103,433 | €63,272 | -€1.0m | -94.3% |
| Gross operating margin | 9900 | €5,362,181 | €6,585,448 | +€1.2m | +22.8% |
| Operating profit (loss) | 9901 | €1,128,396 | €3,263,121 | +€2.1m | +189% |
| Financial income | 75/76B | €111,511 | €141,321 | +€29,810 | +26.7% |
| Recurring financial income | 75 | €111,511 | €141,321 | +€29,810 | +26.7% |
| Financial charges | 65/66B | €272,801 | €356,892 | +€84,091 | +30.8% |
| Recurring financial charges | 65 | €272,801 | €356,892 | +€84,091 | +30.8% |
| Profit (loss) for the period before taxes | 9903 | €967,106 | €3,047,550 | +€2.1m | +215% |
| Income taxes | 67/77 | €333,452 | €1,013,392 | +€679,940 | +204% |
| Profit (loss) for the period | 9904 | €633,653 | €2,034,157 | +€1.4m | +221% |
| Profit (loss) for the period to be appropriated | 9905 | €633,653 | €2,034,157 | +€1.4m | +221% |
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 15 October 2026 via checked.be.