Menapi Capital Advisory: 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.
Menapi Capital Advisory
Largest movements
- Current investments -€100,000
down €100,000 (-100%), from €100,000 to €0
- Receivables within one year -€71,204
down €71,204 (-100%), from €71,204 to €0
- Cash +€33,669
up €33,669 (+13.6%), from €247,755 to €281,424
mainly Net result for the year (+€103,955) and Current investments (+€100,000)
- Tangible fixed assets -€17,333
down €17,333 (-11.1%), from €155,494 to €138,161
of which Furniture and vehicles: -€12,501
- Other debts -€262,406
down €262,406 (-90.1%), from €291,395 to €28,990
- Profit (loss) carried forward +€103,955
up €103,955 (+23.0%), from €451,230 to €555,185
- Financial income -€240,227
down €240,227 (-96.8%), from €248,143 to €7,916
of which Financial income: -€239,945
- Financial charges -€4,216
down €4,216 (-34.2%), from €12,345 to €8,128
- Gross operating margin +€2,289
up €2,289 (+1.4%), from €161,597 to €163,886
- Depreciation +€2,027
up €2,027 (+7.3%), from €27,946 to €29,973
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 | €811,390 | €651,428 | -€159,962 | -19.7% |
| Fixed assets | 21/28 | €374,728 | €354,595 | -€20,133 | -5.4% |
| Intangible fixed assets | 21 | €26,135 | €23,335 | -€2,800 | -10.7% |
| Tangible fixed assets | 22/27 | €155,494 | €138,161 | -€17,333 | -11.1% |
| Land and buildings | 22 | €105,416 | €97,348 | -€8,069 | -7.7% |
| Plant, machinery and equipment | 23 | €2,508 | €3,537 | +€1,029 | +41.0% |
| Furniture and vehicles | 24 | €47,570 | €35,069 | -€12,501 | -26.3% |
| Other tangible fixed assets | 26 | - | €2,207 | +€2,207 | |
| Financial fixed assets | 28 | €193,099 | €193,099 | = | 0.0% |
| Current assets | 29/58 | €436,661 | €296,833 | -€139,829 | -32.0% |
| Amounts receivable within one year | 40/41 | €71,204 | €0 | -€71,204 | -100% |
| Other amounts receivable | 41 | €71,204 | €0 | -€71,204 | -100% |
| Current investments | 50/53 | €100,000 | €0 | -€100,000 | -100% |
| Cash at bank and in hand | 54/58 | €247,755 | €281,424 | +€33,669 | +13.6% |
| Deferred charges and accrued income | 490/1 | €17,702 | €15,409 | -€2,293 | -13.0% |
| Total equity and liabilities | 10/49 | €811,390 | €651,428 | -€159,962 | -19.7% |
| Equity | 10/15 | €500,750 | €604,705 | +€103,955 | +20.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €30,920 | €30,920 | = | 0.0% |
| Distributable reserves | 133 | €30,920 | €30,920 | = | 0.0% |
| Profit (loss) carried forward | 14 | €451,230 | €555,185 | +€103,955 | +23.0% |
| Amounts payable | 17/49 | €310,640 | €46,723 | -€263,917 | -85.0% |
| Amounts payable within one year | 42/48 | €298,616 | €38,921 | -€259,694 | -87.0% |
| Trade debts | 44 | €3,677 | €3,972 | +€295 | +8.0% |
| Suppliers | 440/4 | €3,677 | €3,972 | +€295 | +8.0% |
| Taxes, remuneration and social security | 45 | €3,543 | €5,960 | +€2,416 | +68.2% |
| Taxes | 450/3 | €843 | €5,960 | +€5,116 | +607% |
| Remuneration and social security | 454/9 | €2,700 | €0 | -€2,700 | -100% |
| Other amounts payable | 47/48 | €291,395 | €28,990 | -€262,406 | -90.1% |
| Accrued charges and deferred income | 492/3 | €12,024 | €7,802 | -€4,223 | -35.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,946 | €29,973 | +€2,027 | +7.3% |
| Other operating charges | 640/8 | €1,584 | €1,560 | -€23 | -1.5% |
| Gross operating margin | 9900 | €161,597 | €163,886 | +€2,289 | +1.4% |
| Operating profit (loss) | 9901 | €132,068 | €132,353 | +€285 | +0.2% |
| Financial income | 75/76B | €248,143 | €7,916 | -€240,227 | -96.8% |
| Recurring financial income | 75 | €247,861 | €7,916 | -€239,945 | -96.8% |
| Non-recurring financial income | 76B | €282 | €0 | -€282 | -100% |
| Financial charges | 65/66B | €12,345 | €8,128 | -€4,216 | -34.2% |
| Recurring financial charges | 65 | €12,345 | €8,128 | -€4,216 | -34.2% |
| Profit (loss) for the period before taxes | 9903 | €367,866 | €132,141 | -€235,725 | -64.1% |
| Income taxes | 67/77 | €27,450 | €28,185 | +€736 | +2.7% |
| Profit (loss) for the period | 9904 | €340,416 | €103,955 | -€236,461 | -69.5% |
| Profit (loss) for the period to be appropriated | 9905 | €340,416 | €103,955 | -€236,461 | -69.5% |
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 14 October 2026 via checked.be.