MENAK: 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.
MENAK
Largest movements
- Receivables within one year -€14,676
down €14,676 (-99.0%), from €14,818 to €142
- Intangible fixed assets -€6,951
down €6,951 (-12.2%), from €56,956 to €50,006
- Profit (loss) carried forward -€13,486
down €13,486 (-35.6%), from -€37,904 to -€51,390
- Other debts -€8,194
down €8,194 (-8.2%), from €99,733 to €91,538
- Purchases and services -€48,088
no longer reported in 2025 (was €48,088)
- Turnover -€46,500
no longer reported in 2025 (was €46,500)
- Gross operating margin -€3,890
down €3,890 (-244.9%), from -€1,588 to -€5,478
- Other operating charges -€532
down €532 (-35.1%), from €1,514 to €982
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 | €71,828 | €50,148 | -€21,680 | -30.2% |
| Fixed assets | 21/28 | €56,956 | €50,006 | -€6,951 | -12.2% |
| Intangible fixed assets | 21 | €56,956 | €50,006 | -€6,951 | -12.2% |
| Current assets | 29/58 | €14,872 | €142 | -€14,729 | -99.0% |
| Amounts receivable within one year | 40/41 | €14,818 | €142 | -€14,676 | -99.0% |
| Other amounts receivable | 41 | €14,818 | €142 | -€14,676 | -99.0% |
| Cash at bank and in hand | 54/58 | €54 | €0 | -€53 | -99.3% |
| Total equity and liabilities | 10/49 | €71,828 | €50,148 | -€21,680 | -30.2% |
| Equity | 10/15 | -€27,904 | -€41,390 | -€13,486 | -48.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Outside capital | 11 | €10,000 | €10,000 | = | 0.0% |
| Other | 1109/19 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€37,904 | -€51,390 | -€13,486 | -35.6% |
| Amounts payable | 17/49 | €99,733 | €91,538 | -€8,194 | -8.2% |
| Amounts payable within one year | 42/48 | €99,733 | €91,538 | -€8,194 | -8.2% |
| Other amounts payable | 47/48 | €99,733 | €91,538 | -€8,194 | -8.2% |
| Turnover | 70 | €46,500 | - | -€46,500 | |
| Goods, raw materials, services and sundry goods | 60/61 | €48,088 | - | -€48,088 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,951 | €6,951 | = | 0.0% |
| Other operating charges | 640/8 | €1,514 | €982 | -€532 | -35.1% |
| Gross operating margin | 9900 | -€1,588 | -€5,478 | -€3,890 | -244.9% |
| Operating profit (loss) | 9901 | -€10,052 | -€13,410 | -€3,358 | -33.4% |
| Financial charges | 65/66B | €81 | €75 | -€6 | -7.4% |
| Recurring financial charges | 65 | €81 | €75 | -€6 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | -€10,133 | -€13,486 | -€3,352 | -33.1% |
| Profit (loss) for the period | 9904 | -€10,133 | -€13,486 | -€3,352 | -33.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,133 | -€13,486 | -€3,352 | -33.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.