MENASUD: 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.
MENASUD
Largest movements
- Receivables within one year +€8,494
up €8,494 (+7309.6%), from €116 to €8,610
of which Other amounts receivable: +€8,610
- Tangible fixed assets -€8,159
down €8,159 (-31.3%), from €26,076 to €17,916
of which Furniture and vehicles: -€7,012
- Cash -€889
down €889 (-6.2%), from €14,372 to €13,482
mainly Receivables within one year (-€8,494) and Trade debts (-€6,313)
- Trade debts -€6,313
down €6,313 (-19.9%), from €31,679 to €25,366
- Profit (loss) carried forward +€5,532
up €5,532 (+7.3%), from -€75,753 to -€70,221
- Tax, wage and social debts -€1,764
down €1,764 (-18.2%), from €9,678 to €7,913
of which Remuneration and social security: -€2,741
- Other debts +€1,757
up €1,757 (+30.9%), from €5,678 to €7,435
- Staff costs -€49,191
down €49,191 (-80.2%), from €61,372 to €12,180
- Gross operating margin -€27,468
down €27,468 (-50.5%), from €54,376 to €26,909
- Financial income -€4,509
down €4,509 (-80.6%), from €5,594 to €1,085
- Other operating charges -€1,191
down €1,191 (-75.5%), from €1,578 to €387
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 | €45,650 | €44,862 | -€788 | -1.7% |
| Fixed assets | 21/28 | €26,076 | €17,916 | -€8,159 | -31.3% |
| Tangible fixed assets | 22/27 | €26,076 | €17,916 | -€8,159 | -31.3% |
| Plant, machinery and equipment | 23 | €5,003 | €3,855 | -€1,148 | -22.9% |
| Furniture and vehicles | 24 | €21,073 | €14,061 | -€7,012 | -33.3% |
| Current assets | 29/58 | €19,575 | €26,946 | +€7,371 | +37.7% |
| Stocks and contracts in progress | 3 | €4,476 | €4,233 | -€242 | -5.4% |
| Stocks | 30/36 | €4,476 | €4,233 | -€242 | -5.4% |
| Amounts receivable within one year | 40/41 | €116 | €8,610 | +€8,494 | +7309.6% |
| Trade receivables | 40 | €116 | €0 | -€116 | -100.0% |
| Other amounts receivable | 41 | €0 | €8,610 | +€8,610 | |
| Cash at bank and in hand | 54/58 | €14,372 | €13,482 | -€889 | -6.2% |
| Deferred charges and accrued income | 490/1 | €611 | €620 | +€9 | +1.5% |
| Total equity and liabilities | 10/49 | €45,650 | €44,862 | -€788 | -1.7% |
| Equity | 10/15 | -€1,385 | €4,147 | +€5,532 | |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€75,753 | -€70,221 | +€5,532 | +7.3% |
| Amounts payable | 17/49 | €47,035 | €40,714 | -€6,321 | -13.4% |
| Amounts payable within one year | 42/48 | €47,035 | €40,714 | -€6,321 | -13.4% |
| Trade debts | 44 | €31,679 | €25,366 | -€6,313 | -19.9% |
| Suppliers | 440/4 | €31,679 | €25,366 | -€6,313 | -19.9% |
| Taxes, remuneration and social security | 45 | €9,678 | €7,913 | -€1,764 | -18.2% |
| Taxes | 450/3 | €1,143 | €2,119 | +€976 | +85.4% |
| Remuneration and social security | 454/9 | €8,535 | €5,794 | -€2,741 | -32.1% |
| Other amounts payable | 47/48 | €5,678 | €7,435 | +€1,757 | +30.9% |
| Remuneration, social security and pensions | 62 | €61,372 | €12,180 | -€49,191 | -80.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,024 | €8,159 | +€135 | +1.7% |
| Other operating charges | 640/8 | €1,578 | €387 | -€1,191 | -75.5% |
| Gross operating margin | 9900 | €54,376 | €26,909 | -€27,468 | -50.5% |
| Operating profit (loss) | 9901 | -€16,597 | €6,182 | +€22,779 | |
| Financial income | 75/76B | €5,594 | €1,085 | -€4,509 | -80.6% |
| Recurring financial income | 75 | €5,594 | €1,085 | -€4,509 | -80.6% |
| Financial charges | 65/66B | €1,672 | €1,734 | +€62 | +3.7% |
| Recurring financial charges | 65 | €1,672 | €1,734 | +€62 | +3.7% |
| Profit (loss) for the period before taxes | 9903 | -€12,676 | €5,532 | +€18,208 | |
| Profit (loss) for the period | 9904 | -€12,676 | €5,532 | +€18,208 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,676 | €5,532 | +€18,208 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.