MEHA: 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.
MEHA
Largest movements
- Current investments -€55,000
no longer reported in 2025 (was €55,000)
- Cash +€50,923
up €50,923 (+242%), from €21,074 to €71,997
mainly Current investments (+€55,000) and Receivables within one year (+€8,762)
- Receivables within one year -€8,762
down €8,762 (-23.3%), from €37,617 to €28,854
of which Trade receivables: -€11,277
- Stocks and contracts -€7,388
down €7,388 (-17.1%), from €43,107 to €35,719
- Tangible fixed assets +€6,611
up €6,611 (+232%), from €2,854 to €9,465
of which Plant, machinery and equipment: +€8,013
- Tax, wage and social debts -€6,240
down €6,240 (-58.1%), from €10,741 to €4,501
- Other debts -€5,850
down €5,850 (-88.0%), from €6,650 to €800
- Profit (loss) carried forward -€3,238
down €3,238 (-5.0%), from €65,359 to €62,121
- Gross operating margin -€19,412
down €19,412, from €19,139 to -€274
- Taxes -€5,053
down €5,053 (-85.2%), from €5,930 to €877
- Financial income +€1,734
up €1,734 (+1,256%), from €138 to €1,872
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 | €161,874 | €147,797 | -€14,077 | -8.7% |
| Fixed assets | 21/28 | €3,294 | €9,525 | +€6,231 | +189% |
| Intangible fixed assets | 21 | €440 | €60 | -€380 | -86.3% |
| Tangible fixed assets | 22/27 | €2,854 | €9,465 | +€6,611 | +232% |
| Plant, machinery and equipment | 23 | €1,247 | €9,260 | +€8,013 | +643% |
| Furniture and vehicles | 24 | €1,607 | €205 | -€1,402 | -87.3% |
| Current assets | 29/58 | €158,580 | €138,272 | -€20,308 | -12.8% |
| Stocks and contracts in progress | 3 | €43,107 | €35,719 | -€7,388 | -17.1% |
| Stocks | 30/36 | €43,107 | €35,719 | -€7,388 | -17.1% |
| Amounts receivable within one year | 40/41 | €37,617 | €28,854 | -€8,762 | -23.3% |
| Trade receivables | 40 | €37,617 | €26,340 | -€11,277 | -30.0% |
| Other amounts receivable | 41 | - | €2,514 | +€2,514 | |
| Current investments | 50/53 | €55,000 | - | -€55,000 | |
| Cash at bank and in hand | 54/58 | €21,074 | €71,997 | +€50,923 | +242% |
| Deferred charges and accrued income | 490/1 | €1,782 | €1,702 | -€81 | -4.5% |
| Total equity and liabilities | 10/49 | €161,874 | €147,797 | -€14,077 | -8.7% |
| Equity | 10/15 | €140,375 | €137,136 | -€3,238 | -2.3% |
| Contributions | 10/11 | €14,300 | €14,300 | = | 0.0% |
| Reserves | 13 | €60,715 | €60,715 | = | 0.0% |
| Distributable reserves | 133 | €60,715 | €60,715 | = | 0.0% |
| Profit (loss) carried forward | 14 | €65,359 | €62,121 | -€3,238 | -5.0% |
| Amounts payable | 17/49 | €21,499 | €10,661 | -€10,839 | -50.4% |
| Amounts payable within one year | 42/48 | €21,499 | €10,661 | -€10,839 | -50.4% |
| Trade debts | 44 | €4,109 | €5,360 | +€1,251 | +30.5% |
| Suppliers | 440/4 | €4,109 | €5,360 | +€1,251 | +30.5% |
| Taxes, remuneration and social security | 45 | €10,741 | €4,501 | -€6,240 | -58.1% |
| Taxes | 450/3 | €10,741 | €4,501 | -€6,240 | -58.1% |
| Other amounts payable | 47/48 | €6,650 | €800 | -€5,850 | -88.0% |
| Non-recurring operating income | 76A | €28,997 | - | -€28,997 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,159 | €2,226 | +€67 | +3.1% |
| Other operating charges | 640/8 | €387 | €463 | +€76 | +19.6% |
| Gross operating margin | 9900 | €19,139 | -€274 | -€19,412 | |
| Operating profit (loss) | 9901 | €16,592 | -€2,963 | -€19,555 | |
| Financial income | 75/76B | €138 | €1,872 | +€1,734 | +1,256% |
| Recurring financial income | 75 | €138 | €1,872 | +€1,734 | +1,256% |
| Financial charges | 65/66B | €544 | €470 | -€74 | -13.6% |
| Recurring financial charges | 65 | €544 | €470 | -€74 | -13.6% |
| Profit (loss) for the period before taxes | 9903 | €16,186 | -€1,562 | -€17,748 | |
| Income taxes | 67/77 | €5,930 | €877 | -€5,053 | -85.2% |
| Profit (loss) for the period | 9904 | €10,257 | -€2,438 | -€12,695 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,257 | -€2,438 | -€12,695 |
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.