MeNaCo: 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.
MeNaCo
Largest movements
- Receivables within one year +€52,276
up €52,276 (+77.6%), from €67,355 to €119,631
of which Trade receivables: +€32,276
- Other debts +€151,952
up €151,952 (+147%), from €103,393 to €255,345
- Debts after one year -€109,526
down €109,526 (-18.1%), from €603,715 to €494,189
- Tax, wage and social debts -€34,886
down €34,886 (-78.0%), from €44,710 to €9,824
- Trade debts +€26,013
up €26,013 (+3,758%), from €692 to €26,705
- Reserves +€20,520
up €20,520 (+14.4%), from €142,544 to €163,065
- Financial income +€249,845
up €249,845 (+498%), from €50,156 to €300,001
- Gross operating margin -€97,522
down €97,522 (-62.0%), from €157,238 to €59,716
- Taxes -€22,232
down €22,232 (-80.3%), from €27,670 to €5,438
- Financial charges -€4,930
down €4,930 (-13.7%), from €35,947 to €31,017
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 | €1,000,588 | €1,059,654 | +€59,066 | +5.9% |
| Fixed assets | 21/28 | €900,562 | €900,321 | -€241 | 0.0% |
| Tangible fixed assets | 22/27 | €562 | €321 | -€241 | -42.9% |
| Plant, machinery and equipment | 23 | €562 | €321 | -€241 | -42.9% |
| Financial fixed assets | 28 | €900,000 | €900,000 | = | 0.0% |
| Current assets | 29/58 | €100,026 | €159,332 | +€59,307 | +59.3% |
| Amounts receivable within one year | 40/41 | €67,355 | €119,631 | +€52,276 | +77.6% |
| Trade receivables | 40 | €67,355 | €99,631 | +€32,276 | +47.9% |
| Other amounts receivable | 41 | - | €20,000 | +€20,000 | |
| Cash at bank and in hand | 54/58 | €32,671 | €39,702 | +€7,031 | +21.5% |
| Total equity and liabilities | 10/49 | €1,000,588 | €1,059,654 | +€59,066 | +5.9% |
| Equity | 10/15 | €143,544 | €164,065 | +€20,520 | +14.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €142,544 | €163,065 | +€20,520 | +14.4% |
| Distributable reserves | 133 | €142,544 | €163,065 | +€20,520 | +14.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €857,044 | €895,589 | +€38,545 | +4.5% |
| Amounts payable after more than one year | 17 | €603,715 | €494,189 | -€109,526 | -18.1% |
| Financial debts | 170/4 | €603,715 | €494,189 | -€109,526 | -18.1% |
| Amounts payable within one year | 42/48 | €253,329 | €401,400 | +€148,071 | +58.5% |
| Current portion of amounts payable after more than one year | 42 | €104,534 | €109,526 | +€4,992 | +4.8% |
| Trade debts | 44 | €692 | €26,705 | +€26,013 | +3,758% |
| Suppliers | 440/4 | €692 | €26,705 | +€26,013 | +3,758% |
| Taxes, remuneration and social security | 45 | €44,710 | €9,824 | -€34,886 | -78.0% |
| Taxes | 450/3 | €44,710 | €9,824 | -€34,886 | -78.0% |
| Other amounts payable | 47/48 | €103,393 | €255,345 | +€151,952 | +147% |
| Non-recurring operating income | 76A | €0 | €2,800 | +€2,800 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €241 | €241 | = | 0.0% |
| Other operating charges | 640/8 | €991 | €2,500 | +€1,509 | +152% |
| Gross operating margin | 9900 | €157,238 | €59,716 | -€97,522 | -62.0% |
| Operating profit (loss) | 9901 | €156,006 | €56,975 | -€99,031 | -63.5% |
| Financial income | 75/76B | €50,156 | €300,001 | +€249,845 | +498% |
| Recurring financial income | 75 | €50,156 | €300,001 | +€249,845 | +498% |
| Financial charges | 65/66B | €35,947 | €31,017 | -€4,930 | -13.7% |
| Recurring financial charges | 65 | €35,947 | €31,017 | -€4,930 | -13.7% |
| Profit (loss) for the period before taxes | 9903 | €170,214 | €325,959 | +€155,744 | +91.5% |
| Income taxes | 67/77 | €27,670 | €5,438 | -€22,232 | -80.3% |
| Profit (loss) for the period | 9904 | €142,544 | €320,520 | +€177,976 | +125% |
| Profit (loss) for the period to be appropriated | 9905 | €142,544 | €320,520 | +€177,976 | +125% |
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 13 October 2026 via checked.be.