MEMCO: 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.
MEMCO
Largest movements
- Receivables within one year -€113,853
down €113,853 (-10.2%), from €1.1m to €998,714
of which Other amounts receivable: -€120,933
- Profit (loss) carried forward -€126,826
down €126,826 (-9.1%), from €1.4m to €1.3m
- Gross operating margin -€179,397
down €179,397 (-99.9%), from €179,661 to €264
- Staff costs -€25,584
down €25,584 (-20.3%), from €125,840 to €100,256
- Financial charges +€16,256
up €16,256 (+178.9%), from €9,085 to €25,341
- Depreciation -€6,130
no longer reported in 2025 (was €6,130)
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 | €3,032,408 | €2,912,456 | -€119,952 | -4.0% |
| Fixed assets | 21/28 | €1,839,979 | €1,839,979 | = | 0.0% |
| Financial fixed assets | 28 | €1,839,979 | €1,839,979 | = | 0.0% |
| Current assets | 29/58 | €1,192,429 | €1,072,477 | -€119,952 | -10.1% |
| Stocks and contracts in progress | 3 | €68,825 | €68,825 | = | 0.0% |
| Contracts in progress | 37 | €68,825 | €68,825 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,112,567 | €998,714 | -€113,853 | -10.2% |
| Trade receivables | 40 | €423,631 | €430,711 | +€7,080 | +1.7% |
| Other amounts receivable | 41 | €688,936 | €568,003 | -€120,933 | -17.6% |
| Cash at bank and in hand | 54/58 | €2,818 | €336 | -€2,483 | -88.1% |
| Deferred charges and accrued income | 490/1 | €8,218 | €4,602 | -€3,617 | -44.0% |
| Total equity and liabilities | 10/49 | €3,032,408 | €2,912,456 | -€119,952 | -4.0% |
| Equity | 10/15 | €1,489,793 | €1,362,967 | -€126,826 | -8.5% |
| Contributions | 10/11 | €80,565 | €80,565 | = | 0.0% |
| Capital | 10 | €80,565 | €80,565 | = | 0.0% |
| Issued capital | 100 | €80,565 | €80,565 | = | 0.0% |
| Reserves | 13 | €8,057 | €8,057 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,057 | €8,057 | = | 0.0% |
| Legal reserve | 130 | €8,057 | €8,057 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,401,171 | €1,274,345 | -€126,826 | -9.1% |
| Amounts payable | 17/49 | €1,542,615 | €1,549,489 | +€6,874 | +0.4% |
| Amounts payable within one year | 42/48 | €1,542,615 | €1,542,889 | +€274 | 0.0% |
| Trade debts | 44 | €102,002 | €96,155 | -€5,847 | -5.7% |
| Suppliers | 440/4 | €102,002 | €96,155 | -€5,847 | -5.7% |
| Taxes, remuneration and social security | 45 | €20,241 | €25,677 | +€5,435 | +26.9% |
| Taxes | 450/3 | €901 | €10,279 | +€9,379 | +1041.3% |
| Remuneration and social security | 454/9 | €19,341 | €15,397 | -€3,944 | -20.4% |
| Other amounts payable | 47/48 | €1,420,372 | €1,421,057 | +€686 | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €6,600 | +€6,600 | |
| Remuneration, social security and pensions | 62 | €125,840 | €100,256 | -€25,584 | -20.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,130 | - | -€6,130 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €590 | - | -€590 | |
| Other operating charges | 640/8 | €1,912 | €1,493 | -€419 | -21.9% |
| Gross operating margin | 9900 | €179,661 | €264 | -€179,397 | -99.9% |
| Operating profit (loss) | 9901 | €45,189 | -€101,485 | -€146,674 | |
| Financial charges | 65/66B | €9,085 | €25,341 | +€16,256 | +178.9% |
| Recurring financial charges | 65 | €9,085 | €25,341 | +€16,256 | +178.9% |
| Profit (loss) for the period before taxes | 9903 | €36,104 | -€126,826 | -€162,930 | |
| Profit (loss) for the period | 9904 | €36,104 | -€126,826 | -€162,930 | |
| Profit (loss) for the period to be appropriated | 9905 | €36,104 | -€126,826 | -€162,930 |
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 9 October 2026 via checked.be.