MENARA: 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.
MENARA
Largest movements
- Cash +€7,142
up €7,142 (+1714.0%), from €417 to €7,559
mainly Trade debts (+€12,127) and Depreciation (+€850)
- Receivables within one year +€4,924
up €4,924 (+484.9%), from €1,015 to €5,939
- Tangible fixed assets -€850
no longer reported in 2025 (was €850)
- Trade debts +€12,127
up €12,127 (+88.3%), from €13,736 to €25,863
of which Bills of exchange payable: +€15,600
- Tax, wage and social debts -€588
down €588 (-17.5%), from €3,355 to €2,767
of which Taxes: -€905
- Other debts -€323
no longer reported in 2025 (was €323)
- Turnover -€50,045
no longer reported in 2025 (was €50,045)
- Purchases and services -€19,877
down €19,877 (-36.7%), from €54,225 to €34,349
- Gross operating margin +€5,062
up €5,062, from -€4,180 to €882
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 | €2,282 | €13,498 | +€11,216 | +491.5% |
| Fixed assets | 21/28 | €850 | - | -€850 | |
| Tangible fixed assets | 22/27 | €850 | - | -€850 | |
| Plant, machinery and equipment | 23 | €850 | - | -€850 | |
| Current assets | 29/58 | €1,432 | €13,498 | +€12,066 | +842.6% |
| Amounts receivable within one year | 40/41 | €1,015 | €5,939 | +€4,924 | +484.9% |
| Trade receivables | 40 | €1,015 | €5,939 | +€4,924 | +484.9% |
| Cash at bank and in hand | 54/58 | €417 | €7,559 | +€7,142 | +1714.0% |
| Total equity and liabilities | 10/49 | €2,282 | €13,498 | +€11,216 | +491.5% |
| Equity | 10/15 | -€15,132 | -€15,132 | +€0 | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €413 | €413 | = | 0.0% |
| Non-distributable reserves | 130/1 | €413 | €413 | = | 0.0% |
| Legal reserve | 130 | - | €413 | +€413 | |
| Reserves not available under the articles | 1311 | €413 | - | -€413 | |
| Profit (loss) carried forward | 14 | -€34,145 | -€34,145 | +€0 | 0.0% |
| Amounts payable | 17/49 | €17,414 | €28,630 | +€11,216 | +64.4% |
| Amounts payable within one year | 42/48 | €17,414 | €28,630 | +€11,216 | +64.4% |
| Trade debts | 44 | €13,736 | €25,863 | +€12,127 | +88.3% |
| Suppliers | 440/4 | €7,236 | €3,763 | -€3,473 | -48.0% |
| Bills of exchange payable | 441 | €6,500 | €22,100 | +€15,600 | +240.0% |
| Taxes, remuneration and social security | 45 | €3,355 | €2,767 | -€588 | -17.5% |
| Taxes | 450/3 | €3,355 | €2,450 | -€905 | -27.0% |
| Remuneration and social security | 454/9 | - | €317 | +€317 | |
| Other amounts payable | 47/48 | €323 | - | -€323 | |
| Turnover | 70 | €50,045 | - | -€50,045 | |
| Goods, raw materials, services and sundry goods | 60/61 | €54,225 | €34,349 | -€19,877 | -36.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €850 | €850 | = | 0.0% |
| Other operating charges | 640/8 | €444 | - | -€444 | |
| Gross operating margin | 9900 | -€4,180 | €882 | +€5,062 | |
| Operating profit (loss) | 9901 | -€5,474 | €32 | +€5,506 | |
| Financial charges | 65/66B | €35 | €32 | -€3 | -8.0% |
| Recurring financial charges | 65 | €35 | €32 | -€3 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | -€5,509 | €0 | +€5,509 | |
| Profit (loss) for the period | 9904 | -€5,509 | €0 | +€5,509 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,509 | €0 | +€5,509 |
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 10 October 2026 via checked.be.