MENA: 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.
MENA
Largest movements
- Receivables within one year -€440,899
down €440,899 (-34.0%), from €1.3m to €855,841
of which Trade receivables: -€411,940
- Tangible fixed assets -€68,934
down €68,934 (-17.7%), from €389,219 to €320,285
of which Leasing and similar rights: -€41,878
- Trade debts -€341,330
down €341,330 (-29.3%), from €1.2m to €823,292
of which Suppliers: -€280,791
- Tax, wage and social debts -€59,850
down €59,850 (-87.4%), from €68,451 to €8,601
of which Remuneration and social security: -€36,752
- Debts after one year -€40,004
down €40,004 (-26.1%), from €153,501 to €113,497
- Current portion of long-term debt -€37,054
down €37,054 (-48.1%), from €77,058 to €40,004
- Profit (loss) carried forward -€26,380
down €26,380 (-15.4%), from €171,849 to €145,468
- Turnover -€739,727
down €739,727 (-14.4%), from €5.1m to €4.4m
- Purchases and services -€621,954
down €621,954 (-12.9%), from €4.8m to €4.2m
- Taxes -€155,258
down €155,258 (-97.2%), from €159,758 to €4,500
- Gross operating margin -€117,773
down €117,773 (-37.1%), from €317,659 to €199,886
- Other operating charges -€57,633
down €57,633 (-36.0%), from €160,147 to €102,515
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,694,989 | €1,187,443 | -€507,545 | -29.9% |
| Fixed assets | 21/28 | €396,847 | €327,913 | -€68,934 | -17.4% |
| Tangible fixed assets | 22/27 | €389,219 | €320,285 | -€68,934 | -17.7% |
| Land and buildings | 22 | €180,547 | €171,653 | -€8,893 | -4.9% |
| Plant, machinery and equipment | 23 | €100,194 | €70,564 | -€29,630 | -29.6% |
| Furniture and vehicles | 24 | €4,298 | €15,765 | +€11,468 | +267% |
| Leasing and similar rights | 25 | €104,180 | €62,302 | -€41,878 | -40.2% |
| Financial fixed assets | 28 | €7,628 | €7,628 | = | 0.0% |
| Current assets | 29/58 | €1,298,142 | €859,530 | -€438,612 | -33.8% |
| Amounts receivable within one year | 40/41 | €1,296,740 | €855,841 | -€440,899 | -34.0% |
| Trade receivables | 40 | €1,189,744 | €777,804 | -€411,940 | -34.6% |
| Other amounts receivable | 41 | €106,996 | €78,037 | -€28,960 | -27.1% |
| Cash at bank and in hand | 54/58 | €1,402 | €3,689 | +€2,287 | +163% |
| Total equity and liabilities | 10/49 | €1,694,989 | €1,187,443 | -€507,545 | -29.9% |
| Equity | 10/15 | €192,309 | €165,928 | -€26,380 | -13.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Contributions outside capital | 11 | - | €18,600 | +€18,600 | |
| Other | 1109/19 | - | €18,600 | +€18,600 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | €171,849 | €145,468 | -€26,380 | -15.4% |
| Amounts payable | 17/49 | €1,502,680 | €1,021,515 | -€481,165 | -32.0% |
| Amounts payable after more than one year | 17 | €153,501 | €113,497 | -€40,004 | -26.1% |
| Financial debts | 170/4 | €153,501 | €113,497 | -€40,004 | -26.1% |
| Amounts payable within one year | 42/48 | €1,349,179 | €908,018 | -€441,161 | -32.7% |
| Current portion of amounts payable after more than one year | 42 | €77,058 | €40,004 | -€37,054 | -48.1% |
| Financial debts | 43 | €37,549 | €34,621 | -€2,927 | -7.8% |
| Credit institutions | 430/8 | €37,549 | €34,621 | -€2,927 | -7.8% |
| Trade debts | 44 | €1,164,622 | €823,292 | -€341,330 | -29.3% |
| Suppliers | 440/4 | €932,315 | €651,524 | -€280,791 | -30.1% |
| Bills of exchange payable | 441 | €232,307 | €171,768 | -€60,539 | -26.1% |
| Taxes, remuneration and social security | 45 | €68,451 | €8,601 | -€59,850 | -87.4% |
| Taxes | 450/3 | €27,599 | €4,500 | -€23,099 | -83.7% |
| Remuneration and social security | 454/9 | €40,853 | €4,101 | -€36,752 | -90.0% |
| Other amounts payable | 47/48 | €1,500 | €1,500 | = | 0.0% |
| Turnover | 70 | €5,143,037 | €4,403,311 | -€739,727 | -14.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €4,825,378 | €4,203,424 | -€621,954 | -12.9% |
| Remuneration, social security and pensions | 62 | €3,207 | €2,916 | -€292 | -9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €96,261 | €85,101 | -€11,161 | -11.6% |
| Other operating charges | 640/8 | €160,147 | €102,515 | -€57,633 | -36.0% |
| Gross operating margin | 9900 | €317,659 | €199,886 | -€117,773 | -37.1% |
| Operating profit (loss) | 9901 | €58,043 | €9,355 | -€48,688 | -83.9% |
| Financial income | 75/76B | €0 | €8 | +€8 | +1,730% |
| Recurring financial income | 75 | €0 | €8 | +€8 | +1,730% |
| Financial charges | 65/66B | €23,889 | €31,244 | +€7,355 | +30.8% |
| Recurring financial charges | 65 | €23,889 | €31,244 | +€7,355 | +30.8% |
| Profit (loss) for the period before taxes | 9903 | €34,154 | -€21,880 | -€56,034 | |
| Income taxes | 67/77 | €159,758 | €4,500 | -€155,258 | -97.2% |
| Profit (loss) for the period | 9904 | -€125,604 | -€26,380 | +€99,224 | +79.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€125,604 | -€26,380 | +€99,224 | +79.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.