MEES-BEX: 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-BEX
Largest movements
- Current investments -€74,089
down €74,089 (-74.3%), from €99,649 to €25,561
- Cash +€53,191
up €53,191 (+211%), from €25,159 to €78,351
mainly Net result for the year (+€140,818) and Debts after one year (+€138,508)
- Financial fixed assets +€4,150
up €4,150 (+2.1%), from €196,141 to €200,291
- Reserves -€140,982
down €140,982 (-62.8%), from €224,606 to €83,624
- Debts after one year +€138,508
up €138,508 (+269%), from €51,492 to €190,000
of which Other amounts payable: +€140,000
- Current portion of long-term debt -€16,291
down €16,291 (-91.6%), from €17,783 to €1,492
- Other debts +€5,412
up €5,412 (+81.9%), from €6,609 to €12,021
- Financial income +€76,490
up €76,490 (+9,271%), from €825 to €77,315
- Gross operating margin +€16,386
up €16,386 (+21.1%), from €77,632 to €94,018
- Taxes +€4,335
up €4,335 (+22.0%), from €19,711 to €24,046
- Financial charges -€3,903
down €3,903 (-61.1%), from €6,383 to €2,480
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 | €326,865 | €311,271 | -€15,594 | -4.8% |
| Fixed assets | 21/28 | €199,020 | €202,173 | +€3,153 | +1.6% |
| Tangible fixed assets | 22/27 | €2,878 | €1,882 | -€997 | -34.6% |
| Plant, machinery and equipment | 23 | €2,878 | €1,882 | -€997 | -34.6% |
| Financial fixed assets | 28 | €196,141 | €200,291 | +€4,150 | +2.1% |
| Current assets | 29/58 | €127,845 | €109,097 | -€18,747 | -14.7% |
| Amounts receivable within one year | 40/41 | €3,036 | €3,685 | +€649 | +21.4% |
| Other amounts receivable | 41 | €3,036 | €3,685 | +€649 | +21.4% |
| Current investments | 50/53 | €99,649 | €25,561 | -€74,089 | -74.3% |
| Cash at bank and in hand | 54/58 | €25,159 | €78,351 | +€53,191 | +211% |
| Deferred charges and accrued income | 490/1 | - | €1,501 | +€1,501 | |
| Total equity and liabilities | 10/49 | €326,865 | €311,271 | -€15,594 | -4.8% |
| Equity | 10/15 | €243,206 | €102,224 | -€140,982 | -58.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €224,606 | €83,624 | -€140,982 | -62.8% |
| Distributable reserves | 133 | €224,606 | €83,624 | -€140,982 | -62.8% |
| Amounts payable | 17/49 | €83,658 | €209,046 | +€125,388 | +150% |
| Amounts payable after more than one year | 17 | €51,492 | €190,000 | +€138,508 | +269% |
| Financial debts | 170/4 | €1,492 | - | -€1,492 | |
| Other amounts payable | 178/9 | €50,000 | €190,000 | +€140,000 | +280% |
| Amounts payable within one year | 42/48 | €27,559 | €16,751 | -€10,808 | -39.2% |
| Current portion of amounts payable after more than one year | 42 | €17,783 | €1,492 | -€16,291 | -91.6% |
| Trade debts | 44 | €715 | €1,776 | +€1,061 | +148% |
| Suppliers | 440/4 | €715 | €1,776 | +€1,061 | +148% |
| Taxes, remuneration and social security | 45 | €2,453 | €1,462 | -€991 | -40.4% |
| Taxes | 450/3 | €2,453 | €1,462 | -€991 | -40.4% |
| Other amounts payable | 47/48 | €6,609 | €12,021 | +€5,412 | +81.9% |
| Accrued charges and deferred income | 492/3 | €4,607 | €2,296 | -€2,311 | -50.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,124 | €997 | -€127 | -11.3% |
| Other operating charges | 640/8 | €3,242 | €2,993 | -€249 | -7.7% |
| Gross operating margin | 9900 | €77,632 | €94,018 | +€16,386 | +21.1% |
| Operating profit (loss) | 9901 | €73,266 | €90,028 | +€16,762 | +22.9% |
| Financial income | 75/76B | €825 | €77,315 | +€76,490 | +9,271% |
| Recurring financial income | 75 | €825 | €77,315 | +€76,490 | +9,271% |
| Financial charges | 65/66B | €6,383 | €2,480 | -€3,903 | -61.1% |
| Recurring financial charges | 65 | €6,383 | €2,480 | -€3,903 | -61.1% |
| Profit (loss) for the period before taxes | 9903 | €67,708 | €164,864 | +€97,156 | +143% |
| Income taxes | 67/77 | €19,711 | €24,046 | +€4,335 | +22.0% |
| Profit (loss) for the period | 9904 | €47,997 | €140,818 | +€92,821 | +193% |
| Profit (loss) for the period to be appropriated | 9905 | €47,997 | €140,818 | +€92,821 | +193% |
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 17 October 2026 via checked.be.