Mendes Construct: 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.
Mendes Construct
Largest movements
- Cash +€53,928
up €53,928 (+691.1%), from €7,803 to €61,731
mainly Net result for the year (+€48,389) and Accrued charges and deferred income (+€35,837)
- Stocks and contracts +€45,117
up €45,117 (+470.7%), from €9,585 to €54,702
- Receivables within one year -€3,609
down €3,609 (-23.0%), from €15,710 to €12,101
- Accrued charges and deferred income +€35,837
up €35,837 (+519.4%), from €6,900 to €42,737
- Reserves +€33,874
up €33,874 (+94.0%), from €36,022 to €69,896
- Profit (loss) carried forward +€14,515
no longer reported in 2025 (was -€14,515)
- Current portion of long-term debt +€10,000
up €10,000 (+200.0%), from €5,000 to €15,000
- Gross operating margin +€79,447
up €79,447, from -€11,576 to €67,870
- Taxes +€15,668
new in 2025: €15,668
- Other operating charges +€748
up €748 (+39.6%), from €1,887 to €2,635
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 | €37,175 | €132,428 | +€95,253 | +256.2% |
| Fixed assets | 21/28 | €2,799 | €1,843 | -€955 | -34.1% |
| Tangible fixed assets | 22/27 | €2,747 | €1,791 | -€955 | -34.8% |
| Furniture and vehicles | 24 | €2,747 | €1,791 | -€955 | -34.8% |
| Financial fixed assets | 28 | €52 | €52 | = | 0.0% |
| Current assets | 29/58 | €34,376 | €130,585 | +€96,209 | +279.9% |
| Stocks and contracts in progress | 3 | €9,585 | €54,702 | +€45,117 | +470.7% |
| Stocks | 30/36 | €9,585 | €54,702 | +€45,117 | +470.7% |
| Amounts receivable within one year | 40/41 | €15,710 | €12,101 | -€3,609 | -23.0% |
| Other amounts receivable | 41 | €15,710 | €12,101 | -€3,609 | -23.0% |
| Cash at bank and in hand | 54/58 | €7,803 | €61,731 | +€53,928 | +691.1% |
| Deferred charges and accrued income | 490/1 | €1,278 | €2,051 | +€773 | +60.5% |
| Total equity and liabilities | 10/49 | €37,175 | €132,428 | +€95,253 | +256.2% |
| Equity | 10/15 | €24,507 | €72,896 | +€48,389 | +197.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €36,022 | €69,896 | +€33,874 | +94.0% |
| Distributable reserves | 133 | €36,022 | €69,896 | +€33,874 | +94.0% |
| Profit (loss) carried forward | 14 | -€14,515 | - | +€14,515 | |
| Amounts payable | 17/49 | €12,668 | €59,532 | +€46,864 | +370.0% |
| Amounts payable within one year | 42/48 | €5,768 | €16,795 | +€11,027 | +191.2% |
| Current portion of amounts payable after more than one year | 42 | €5,000 | €15,000 | +€10,000 | +200.0% |
| Trade debts | 44 | €768 | €1,127 | +€359 | +46.8% |
| Suppliers | 440/4 | €768 | €1,127 | +€359 | +46.8% |
| Taxes, remuneration and social security | 45 | - | €668 | +€668 | |
| Taxes | 450/3 | - | €668 | +€668 | |
| Accrued charges and deferred income | 492/3 | €6,900 | €42,737 | +€35,837 | +519.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €573 | €955 | +€382 | +66.6% |
| Other operating charges | 640/8 | €1,887 | €2,635 | +€748 | +39.6% |
| Gross operating margin | 9900 | -€11,576 | €67,870 | +€79,447 | |
| Operating profit (loss) | 9901 | -€14,036 | €64,280 | +€78,316 | |
| Financial income | 75/76B | €0 | €10 | +€10 | +12400.0% |
| Recurring financial income | 75 | €0 | €10 | +€10 | +12400.0% |
| Financial charges | 65/66B | €479 | €233 | -€246 | -51.4% |
| Recurring financial charges | 65 | €479 | €233 | -€246 | -51.4% |
| Profit (loss) for the period before taxes | 9903 | -€14,515 | €64,057 | +€78,572 | |
| Income taxes | 67/77 | - | €15,668 | +€15,668 | |
| Profit (loss) for the period | 9904 | -€14,515 | €48,389 | +€62,904 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,515 | €48,389 | +€62,904 |
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 5 October 2026 via checked.be.