MEFICO: 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.
MEFICO
Largest movements
- Cash -€42,273
down €42,273 (-41.2%), from €102,719 to €60,446
mainly Contributions, distributions and other (-€151,346) and Tax, wage and social debts (-€1,926)
- Receivables within one year -€14,039
down €14,039 (-99.9%), from €14,055 to €15
of which Trade receivables: -€14,055
- Deferred charges and accrued income +€1,633
up €1,633 (+574%), from €285 to €1,918
- Profit (loss) carried forward -€99,368
down €99,368 (-100%), from €99,368 to €0
- Other debts +€43,528
up €43,528 (+3,117%), from €1,397 to €44,925
- Trade debts +€2,007
up €2,007 (+409%), from €491 to €2,498
- Tax, wage and social debts -€1,926
down €1,926 (-11.8%), from €16,383 to €14,457
of which Taxes: -€1,926
- Gross operating margin +€13,961
up €13,961 (+25.1%), from €55,635 to €69,595
- Taxes +€2,521
up €2,521 (+21.5%), from €11,738 to €14,259
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 | €119,139 | €63,380 | -€55,758 | -46.8% |
| Fixed assets | 21/28 | €2,081 | €1,002 | -€1,079 | -51.8% |
| Tangible fixed assets | 22/27 | €2,081 | €1,002 | -€1,079 | -51.8% |
| Furniture and vehicles | 24 | €2,081 | €1,002 | -€1,079 | -51.8% |
| Current assets | 29/58 | €117,058 | €62,378 | -€54,680 | -46.7% |
| Amounts receivable within one year | 40/41 | €14,055 | €15 | -€14,039 | -99.9% |
| Trade receivables | 40 | €14,055 | €0 | -€14,055 | -100% |
| Other amounts receivable | 41 | - | €15 | +€15 | |
| Cash at bank and in hand | 54/58 | €102,719 | €60,446 | -€42,273 | -41.2% |
| Deferred charges and accrued income | 490/1 | €285 | €1,918 | +€1,633 | +574% |
| Total equity and liabilities | 10/49 | €119,139 | €63,380 | -€55,758 | -46.8% |
| Equity | 10/15 | €100,868 | €1,500 | -€99,368 | -98.5% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €99,368 | €0 | -€99,368 | -100% |
| Amounts payable | 17/49 | €18,271 | €61,880 | +€43,610 | +239% |
| Amounts payable within one year | 42/48 | €18,271 | €61,880 | +€43,610 | +239% |
| Trade debts | 44 | €491 | €2,498 | +€2,007 | +409% |
| Suppliers | 440/4 | €491 | €2,498 | +€2,007 | +409% |
| Taxes, remuneration and social security | 45 | €16,383 | €14,457 | -€1,926 | -11.8% |
| Taxes | 450/3 | €16,383 | €14,457 | -€1,926 | -11.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,397 | €44,925 | +€43,528 | +3,117% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,005 | €1,079 | +€73 | +7.3% |
| Other operating charges | 640/8 | €364 | €792 | +€428 | +118% |
| Non-recurring operating charges | 66A | €70 | €0 | -€70 | -100% |
| Gross operating margin | 9900 | €55,635 | €69,595 | +€13,961 | +25.1% |
| Operating profit (loss) | 9901 | €54,195 | €67,724 | +€13,529 | +25.0% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,666 | €1,488 | -€179 | -10.7% |
| Recurring financial charges | 65 | €1,666 | €1,488 | -€179 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | €52,529 | €66,237 | +€13,708 | +26.1% |
| Income taxes | 67/77 | €11,738 | €14,259 | +€2,521 | +21.5% |
| Profit (loss) for the period | 9904 | €40,790 | €51,978 | +€11,187 | +27.4% |
| Profit (loss) for the period to be appropriated | 9905 | €40,790 | €51,978 | +€11,187 | +27.4% |
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 17 October 2026 via checked.be.