MEFINO: 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.
MEFINO
Largest movements
- Cash +€301,091
up €301,091 (+132.4%), from €227,488 to €528,579
mainly Net result for the year (+€411,166) and Investment in fixed assets (net) (+€128,093)
- Intangible fixed assets -€140,000
down €140,000 (-100.0%), from €140,000 to €0
- Receivables within one year +€44,747
up €44,747 (+21.5%), from €207,986 to €252,733
- Deferred charges and accrued income -€11,267
down €11,267 (-80.6%), from €13,973 to €2,706
- Reserves +€411,166
up €411,166 (+186.7%), from €220,210 to €631,376
of which Distributable reserves: +€411,166
- Other debts -€230,894
down €230,894 (-89.2%), from €258,889 to €27,995
- Tax, wage and social debts +€31,284
up €31,284 (+73.3%), from €42,655 to €73,940
of which Taxes: +€68,175
- Debts after one year -€17,097
down €17,097 (-7.3%), from €234,870 to €217,773
- Gross operating margin +€376,046
up €376,046 (+112.4%), from €334,577 to €710,623
- Taxes +€198,989
up €198,989 (+213760.0%), from €93 to €199,082
- Staff costs -€106,505
down €106,505 (-57.9%), from €184,002 to €77,496
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.
Cash bridge derived
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 | €843,982 | €1,036,362 | +€192,380 | +22.8% |
| Fixed assets | 21/28 | €379,263 | €237,011 | -€142,252 | -37.5% |
| Intangible fixed assets | 21 | €140,000 | €0 | -€140,000 | -100.0% |
| Tangible fixed assets | 22/27 | €239,263 | €235,988 | -€3,275 | -1.4% |
| Land and buildings | 22 | €229,637 | €228,551 | -€1,086 | -0.5% |
| Plant, machinery and equipment | 23 | €1,692 | €1,352 | -€340 | -20.1% |
| Furniture and vehicles | 24 | €7,935 | €6,085 | -€1,849 | -23.3% |
| Financial fixed assets | 28 | €0 | €1,023 | +€1,023 | |
| Current assets | 29/58 | €464,718 | €799,351 | +€334,632 | +72.0% |
| Amounts receivable within one year | 40/41 | €207,986 | €252,733 | +€44,747 | +21.5% |
| Other amounts receivable | 41 | €207,986 | €252,733 | +€44,747 | +21.5% |
| Current investments | 50/53 | €15,272 | €15,333 | +€61 | +0.4% |
| Cash at bank and in hand | 54/58 | €227,488 | €528,579 | +€301,091 | +132.4% |
| Deferred charges and accrued income | 490/1 | €13,973 | €2,706 | -€11,267 | -80.6% |
| Total equity and liabilities | 10/49 | €843,982 | €1,036,362 | +€192,380 | +22.8% |
| Equity | 10/15 | €282,210 | €693,376 | +€411,166 | +145.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €220,210 | €631,376 | +€411,166 | +186.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €30,580 | €30,580 | = | 0.0% |
| Distributable reserves | 133 | €183,431 | €594,597 | +€411,166 | +224.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €561,772 | €342,986 | -€218,786 | -38.9% |
| Amounts payable after more than one year | 17 | €234,870 | €217,773 | -€17,097 | -7.3% |
| Financial debts | 170/4 | €234,870 | €217,773 | -€17,097 | -7.3% |
| Amounts payable within one year | 42/48 | €323,105 | €122,523 | -€200,581 | -62.1% |
| Current portion of amounts payable after more than one year | 42 | €16,799 | €17,097 | +€298 | +1.8% |
| Trade debts | 44 | €4,762 | €3,492 | -€1,269 | -26.7% |
| Suppliers | 440/4 | €4,762 | €3,492 | -€1,269 | -26.7% |
| Taxes, remuneration and social security | 45 | €42,655 | €73,940 | +€31,284 | +73.3% |
| Taxes | 450/3 | €5,765 | €73,940 | +€68,175 | +1182.6% |
| Remuneration and social security | 454/9 | €36,890 | €0 | -€36,890 | -100.0% |
| Other amounts payable | 47/48 | €258,889 | €27,995 | -€230,894 | -89.2% |
| Accrued charges and deferred income | 492/3 | €3,797 | €2,689 | -€1,108 | -29.2% |
| Non-recurring operating income | 76A | - | €537,451 | +€537,451 | |
| Remuneration, social security and pensions | 62 | €184,002 | €77,496 | -€106,505 | -57.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,401 | €14,159 | -€1,242 | -8.1% |
| Other operating charges | 640/8 | €1,768 | €2,659 | +€891 | +50.4% |
| Gross operating margin | 9900 | €334,577 | €710,623 | +€376,046 | +112.4% |
| Operating profit (loss) | 9901 | €133,406 | €616,308 | +€482,902 | +362.0% |
| Financial income | 75/76B | €1,931 | €1,131 | -€800 | -41.4% |
| Recurring financial income | 75 | €1,931 | €1,131 | -€800 | -41.4% |
| Financial charges | 65/66B | €8,946 | €7,191 | -€1,755 | -19.6% |
| Recurring financial charges | 65 | €8,946 | €7,191 | -€1,755 | -19.6% |
| Profit (loss) for the period before taxes | 9903 | €126,392 | €610,248 | +€483,856 | +382.8% |
| Income taxes | 67/77 | €93 | €199,082 | +€198,989 | +213760.0% |
| Profit (loss) for the period | 9904 | €126,299 | €411,166 | +€284,867 | +225.5% |
| Profit (loss) for the period to be appropriated | 9905 | €126,299 | €411,166 | +€284,867 | +225.5% |
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 10 October 2026 via checked.be.