MEGACO: 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.
MEGACO
Largest movements
- Receivables within one year +€1.6m
up €1.6m (+34.6%), from €4.5m to €6.1m
of which Other amounts receivable: +€1.9m
- Current investments -€499,564
down €499,564 (-87.8%), from €568,835 to €69,271
- Cash +€412,887
up €412,887 (+135%), from €306,381 to €719,268
mainly Other debts (+€1.7m) and Net result for the year (+€1.6m)
- Tangible fixed assets +€393,842
up €393,842 (+69.1%), from €570,089 to €963,931
of which Plant, machinery and equipment: +€401,741
- Other debts +€1.7m
up €1.7m (+37.6%), from €4.5m to €6.2m
- Reserves +€146,073
up €146,073 (+11.8%), from €1.2m to €1.4m
of which Distributable reserves: +€146,073
- Accrued charges and deferred income +€92,437
up €92,437 (+107%), from €86,258 to €178,695
- Gross operating margin -€2.3m
down €2.3m (-45.5%), from €5.0m to €2.8m
- Taxes -€627,944
down €627,944 (-53.3%), from €1.2m to €549,972
- Depreciation +€251,206
up €251,206 (+86.4%), from €290,781 to €541,987
- Financial charges +€107,777
up €107,777 (+109%), from €98,624 to €206,400
- Staff costs -€84,961
down €84,961 (-99.9%), from €85,063 to €102
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 | €6,082,657 | €7,986,081 | +€1.9m | +31.3% |
| Fixed assets | 21/28 | €570,089 | €963,931 | +€393,842 | +69.1% |
| Tangible fixed assets | 22/27 | €570,089 | €963,931 | +€393,842 | +69.1% |
| Plant, machinery and equipment | 23 | €558,703 | €960,445 | +€401,741 | +71.9% |
| Furniture and vehicles | 24 | €11,386 | €3,486 | -€7,899 | -69.4% |
| Current assets | 29/58 | €5,512,568 | €7,022,150 | +€1.5m | +27.4% |
| Amounts receivable within one year | 40/41 | €4,511,394 | €6,070,413 | +€1.6m | +34.6% |
| Trade receivables | 40 | €482,278 | €166,546 | -€315,732 | -65.5% |
| Other amounts receivable | 41 | €4,029,117 | €5,903,867 | +€1.9m | +46.5% |
| Current investments | 50/53 | €568,835 | €69,271 | -€499,564 | -87.8% |
| Cash at bank and in hand | 54/58 | €306,381 | €719,268 | +€412,887 | +135% |
| Deferred charges and accrued income | 490/1 | €125,958 | €163,198 | +€37,241 | +29.6% |
| Total equity and liabilities | 10/49 | €6,082,657 | €7,986,081 | +€1.9m | +31.3% |
| Equity | 10/15 | €1,361,910 | €1,507,983 | +€146,073 | +10.7% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €1,236,910 | €1,382,983 | +€146,073 | +11.8% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Distributable reserves | 133 | €1,224,410 | €1,370,483 | +€146,073 | +11.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €4,720,747 | €6,478,098 | +€1.8m | +37.2% |
| Amounts payable within one year | 42/48 | €4,634,489 | €6,299,402 | +€1.7m | +35.9% |
| Trade debts | 44 | €81,692 | €72,329 | -€9,363 | -11.5% |
| Suppliers | 440/4 | €81,692 | €72,329 | -€9,363 | -11.5% |
| Taxes, remuneration and social security | 45 | €28,764 | €0 | -€28,764 | -100% |
| Taxes | 450/3 | €28,764 | €0 | -€28,764 | -100% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €4,524,032 | €6,227,073 | +€1.7m | +37.6% |
| Accrued charges and deferred income | 492/3 | €86,258 | €178,695 | +€92,437 | +107% |
| Remuneration, social security and pensions | 62 | €85,063 | €102 | -€84,961 | -99.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €290,781 | €541,987 | +€251,206 | +86.4% |
| Other operating charges | 640/8 | €356 | €758 | +€402 | +113% |
| Non-recurring operating charges | 66A | €44 | - | -€44 | |
| Gross operating margin | 9900 | €5,047,359 | €2,752,018 | -€2.3m | -45.5% |
| Operating profit (loss) | 9901 | €4,671,115 | €2,209,171 | -€2.5m | -52.7% |
| Financial income | 75/76B | €134,762 | €193,274 | +€58,512 | +43.4% |
| Recurring financial income | 75 | €134,762 | €193,274 | +€58,512 | +43.4% |
| Financial charges | 65/66B | €98,624 | €206,400 | +€107,777 | +109% |
| Recurring financial charges | 65 | €98,624 | €206,400 | +€107,777 | +109% |
| Profit (loss) for the period before taxes | 9903 | €4,707,253 | €2,196,045 | -€2.5m | -53.3% |
| Income taxes | 67/77 | €1,177,916 | €549,972 | -€627,944 | -53.3% |
| Profit (loss) for the period | 9904 | €3,529,338 | €1,646,073 | -€1.9m | -53.4% |
| Profit (loss) for the period to be appropriated | 9905 | €3,529,338 | €1,646,073 | -€1.9m | -53.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.