MENDELJEV: 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.
MENDELJEV
Largest movements
- Cash +€246,154
up €246,154 (+129%), from €190,968 to €437,122
mainly Trade debts (+€146,551) and Current investments (+€100,000)
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Receivables within one year +€84,475
up €84,475 (+79.4%), from €106,340 to €190,815
of which Trade receivables: +€79,441
- Tangible fixed assets -€20,747
down €20,747 (-5.8%), from €356,056 to €335,309
of which Land and buildings: -€12,160
- Trade debts +€146,551
up €146,551 (+213%), from €68,747 to €215,298
- Reserves +€56,246
up €56,246 (+10.3%), from €543,666 to €599,912
of which Distributable reserves: +€56,246
- Other debts +€18,414
up €18,414 (+20.1%), from €91,795 to €110,209
- Tax, wage and social debts -€17,207
down €17,207 (-32.1%), from €53,590 to €36,383
of which Taxes: -€16,147
- Gross operating margin -€50,965
down €50,965 (-12.5%), from €409,247 to €358,282
- Staff costs -€25,007
down €25,007 (-12.1%), from €207,299 to €182,291
- Taxes -€8,186
down €8,186 (-18.5%), from €44,314 to €36,128
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 | €933,026 | €1,136,714 | +€203,688 | +21.8% |
| Fixed assets | 21/28 | €356,056 | €335,309 | -€20,747 | -5.8% |
| Tangible fixed assets | 22/27 | €356,056 | €335,309 | -€20,747 | -5.8% |
| Land and buildings | 22 | €322,283 | €310,123 | -€12,160 | -3.8% |
| Plant, machinery and equipment | 23 | €18,598 | €16,896 | -€1,703 | -9.2% |
| Furniture and vehicles | 24 | €15,175 | €8,290 | -€6,885 | -45.4% |
| Current assets | 29/58 | €576,971 | €801,406 | +€224,435 | +38.9% |
| Stocks and contracts in progress | 3 | €176,525 | €171,765 | -€4,760 | -2.7% |
| Stocks | 30/36 | €176,525 | €171,765 | -€4,760 | -2.7% |
| Amounts receivable within one year | 40/41 | €106,340 | €190,815 | +€84,475 | +79.4% |
| Trade receivables | 40 | €99,714 | €179,154 | +€79,441 | +79.7% |
| Other amounts receivable | 41 | €6,626 | €11,661 | +€5,034 | +76.0% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €190,968 | €437,122 | +€246,154 | +129% |
| Deferred charges and accrued income | 490/1 | €3,138 | €1,705 | -€1,433 | -45.7% |
| Total equity and liabilities | 10/49 | €933,026 | €1,136,714 | +€203,688 | +21.8% |
| Equity | 10/15 | €563,666 | €619,912 | +€56,246 | +10.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €543,666 | €599,912 | +€56,246 | +10.3% |
| Tax-exempt reserves | 132 | €58,485 | €58,485 | = | 0.0% |
| Distributable reserves | 133 | €485,181 | €541,427 | +€56,246 | +11.6% |
| Amounts payable | 17/49 | €369,360 | €516,802 | +€147,442 | +39.9% |
| Amounts payable after more than one year | 17 | €140,000 | €140,000 | = | 0.0% |
| Other amounts payable | 178/9 | €140,000 | €140,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €214,133 | €361,890 | +€147,757 | +69.0% |
| Trade debts | 44 | €68,747 | €215,298 | +€146,551 | +213% |
| Suppliers | 440/4 | €68,747 | €215,298 | +€146,551 | +213% |
| Taxes, remuneration and social security | 45 | €53,590 | €36,383 | -€17,207 | -32.1% |
| Taxes | 450/3 | €19,322 | €3,175 | -€16,147 | -83.6% |
| Remuneration and social security | 454/9 | €34,268 | €33,208 | -€1,060 | -3.1% |
| Other amounts payable | 47/48 | €91,795 | €110,209 | +€18,414 | +20.1% |
| Accrued charges and deferred income | 492/3 | €15,228 | €14,912 | -€316 | -2.1% |
| Remuneration, social security and pensions | 62 | €207,299 | €182,291 | -€25,007 | -12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,121 | €35,834 | -€286 | -0.8% |
| Other operating charges | 640/8 | €4,011 | €4,107 | +€96 | +2.4% |
| Gross operating margin | 9900 | €409,247 | €358,282 | -€50,965 | -12.5% |
| Operating profit (loss) | 9901 | €161,817 | €136,050 | -€25,767 | -15.9% |
| Financial income | 75/76B | €5,060 | €5,234 | +€175 | +3.4% |
| Recurring financial income | 75 | €5,060 | €5,234 | +€175 | +3.4% |
| Financial charges | 65/66B | €21,092 | €18,744 | -€2,348 | -11.1% |
| Recurring financial charges | 65 | €21,092 | €18,744 | -€2,348 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | €145,785 | €122,540 | -€23,245 | -15.9% |
| Income taxes | 67/77 | €44,314 | €36,128 | -€8,186 | -18.5% |
| Profit (loss) for the period | 9904 | €101,471 | €86,412 | -€15,059 | -14.8% |
| Profit (loss) for the period to be appropriated | 9905 | €101,471 | €86,412 | -€15,059 | -14.8% |
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.