MENACO: what changed
Two fiscal 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
- Cash +€26,174
up €26,174 (+15.1%), from €173,511 to €199,686
mainly Depreciation (+€19,034) and Net result for the year (+€12,070)
- Tangible fixed assets -€16,300
down €16,300 (-32.5%), from €50,190 to €33,891
of which Furniture and vehicles: -€14,449
- Receivables within one year -€4,504
down €4,504 (-26.0%), from €17,348 to €12,844
of which Trade receivables: -€4,348
- Current portion of long-term debt -€13,146
down €13,146 (-100.0%), from €13,146 to €0
- Reserves +€12,070
up €12,070 (+6.5%), from €186,920 to €198,989
- Tax, wage and social debts +€8,949
up €8,949 (+118.6%), from €7,544 to €16,493
of which Taxes: +€6,949
- Other debts -€3,441
down €3,441 (-31.2%), from €11,039 to €7,599
- Taxes +€2,226
up €2,226 (+57.0%), from €3,904 to €6,129
- Financial charges -€1,195
down €1,195 (-49.4%), from €2,416 to €1,222
- Other operating charges -€459
down €459 (-16.0%), from €2,878 to €2,419
- Financial income +€420
up €420 (+202.8%), from €207 to €627
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 | €242,540 | €248,151 | +€5,611 | +2.3% |
| Fixed assets | 21/28 | €50,190 | €33,891 | -€16,300 | -32.5% |
| Tangible fixed assets | 22/27 | €50,190 | €33,891 | -€16,300 | -32.5% |
| Land and buildings | 22 | €27,370 | €25,628 | -€1,742 | -6.4% |
| Plant, machinery and equipment | 23 | €109 | €0 | -€109 | -100.0% |
| Furniture and vehicles | 24 | €22,712 | €8,262 | -€14,449 | -63.6% |
| Current assets | 29/58 | €192,350 | €214,260 | +€21,911 | +11.4% |
| Amounts receivable within one year | 40/41 | €17,348 | €12,844 | -€4,504 | -26.0% |
| Trade receivables | 40 | €17,192 | €12,844 | -€4,348 | -25.3% |
| Other amounts receivable | 41 | €156 | €0 | -€156 | -100.0% |
| Cash at bank and in hand | 54/58 | €173,511 | €199,686 | +€26,174 | +15.1% |
| Deferred charges and accrued income | 490/1 | €1,490 | €1,730 | +€240 | +16.1% |
| Total equity and liabilities | 10/49 | €242,540 | €248,151 | +€5,611 | +2.3% |
| Equity | 10/15 | €199,320 | €211,389 | +€12,070 | +6.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €186,920 | €198,989 | +€12,070 | +6.5% |
| Distributable reserves | 133 | €186,920 | €198,989 | +€12,070 | +6.5% |
| Provisions and deferred taxes | 16 | €10,000 | €10,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €10,000 | €10,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €10,000 | €10,000 | = | 0.0% |
| Amounts payable | 17/49 | €33,220 | €26,761 | -€6,459 | -19.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €32,681 | €26,346 | -€6,335 | -19.4% |
| Current portion of amounts payable after more than one year | 42 | €13,146 | €0 | -€13,146 | -100.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €952 | €2,254 | +€1,302 | +136.8% |
| Suppliers | 440/4 | €952 | €2,254 | +€1,302 | +136.8% |
| Taxes, remuneration and social security | 45 | €7,544 | €16,493 | +€8,949 | +118.6% |
| Taxes | 450/3 | €7,544 | €14,493 | +€6,949 | +92.1% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | €11,039 | €7,599 | -€3,441 | -31.2% |
| Accrued charges and deferred income | 492/3 | €540 | €415 | -€125 | -23.1% |
| Non-recurring operating income | 76A | €17,195 | €0 | -€17,195 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,895 | €19,034 | +€139 | +0.7% |
| Other operating charges | 640/8 | €2,878 | €2,419 | -€459 | -16.0% |
| Gross operating margin | 9900 | €40,192 | €40,247 | +€55 | +0.1% |
| Operating profit (loss) | 9901 | €18,419 | €18,794 | +€375 | +2.0% |
| Financial income | 75/76B | €207 | €627 | +€420 | +202.8% |
| Recurring financial income | 75 | €207 | €627 | +€420 | +202.8% |
| Financial charges | 65/66B | €2,416 | €1,222 | -€1,195 | -49.4% |
| Recurring financial charges | 65 | €2,416 | €1,222 | -€1,195 | -49.4% |
| Profit (loss) for the period before taxes | 9903 | €16,210 | €18,199 | +€1,989 | +12.3% |
| Income taxes | 67/77 | €3,904 | €6,129 | +€2,226 | +57.0% |
| Profit (loss) for the period | 9904 | €12,306 | €12,070 | -€236 | -1.9% |
| Profit (loss) for the period to be appropriated | 9905 | €12,306 | €12,070 | -€236 | -1.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.