Mendi 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.
Mendi Construct
Largest movements
- Receivables within one year +€56,756
up €56,756 (+234.2%), from €24,231 to €80,986
of which Trade receivables: +€51,898
- Cash -€24,820
down €24,820 (-99.1%), from €25,039 to €218
mainly Receivables within one year (-€56,756) and Investment in fixed assets (net) (-€19,200)
- Tangible fixed assets +€14,655
up €14,655 (+147.4%), from €9,946 to €24,601
of which Furniture and vehicles: +€14,940
- Trade debts +€27,661
up €27,661 (+588.9%), from €4,697 to €32,358
- Profit (loss) carried forward +€16,866
up €16,866 (+47.2%), from €35,713 to €52,579
- Tax, wage and social debts +€2,064
up €2,064 (+11.6%), from €17,804 to €19,868
of which Taxes: +€3,788
- Gross operating margin -€19,676
down €19,676 (-39.1%), from €50,260 to €30,584
- Taxes -€9,191
down €9,191 (-65.9%), from €13,945 to €4,754
- Staff costs +€4,573
new in 2026: €4,573
- Depreciation +€3,865
up €3,865 (+568.6%), from €680 to €4,545
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €59,215 | €105,806 | +€46,591 | +78.7% |
| Fixed assets | 21/28 | €9,946 | €24,601 | +€14,655 | +147.4% |
| Tangible fixed assets | 22/27 | €9,946 | €24,601 | +€14,655 | +147.4% |
| Plant, machinery and equipment | 23 | €2,802 | €2,518 | -€284 | -10.1% |
| Furniture and vehicles | 24 | €7,143 | €22,083 | +€14,940 | +209.1% |
| Current assets | 29/58 | €49,269 | €81,204 | +€31,935 | +64.8% |
| Amounts receivable within one year | 40/41 | €24,231 | €80,986 | +€56,756 | +234.2% |
| Trade receivables | 40 | €11,857 | €63,755 | +€51,898 | +437.7% |
| Other amounts receivable | 41 | €12,374 | €17,231 | +€4,858 | +39.3% |
| Cash at bank and in hand | 54/58 | €25,039 | €218 | -€24,820 | -99.1% |
| Total equity and liabilities | 10/49 | €59,215 | €105,806 | +€46,591 | +78.7% |
| Equity | 10/15 | €36,713 | €53,579 | +€16,866 | +45.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35,713 | €52,579 | +€16,866 | +47.2% |
| Amounts payable | 17/49 | €22,502 | €52,226 | +€29,725 | +132.1% |
| Amounts payable within one year | 42/48 | €22,502 | €52,226 | +€29,725 | +132.1% |
| Trade debts | 44 | €4,697 | €32,358 | +€27,661 | +588.9% |
| Suppliers | 440/4 | €4,697 | €32,358 | +€27,661 | +588.9% |
| Taxes, remuneration and social security | 45 | €17,804 | €19,868 | +€2,064 | +11.6% |
| Taxes | 450/3 | €15,997 | €19,785 | +€3,788 | +23.7% |
| Remuneration and social security | 454/9 | €1,807 | €84 | -€1,724 | -95.4% |
| Remuneration, social security and pensions | 62 | - | €4,573 | +€4,573 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €680 | €4,545 | +€3,865 | +568.6% |
| Other operating charges | 640/8 | €118 | - | -€118 | |
| Gross operating margin | 9900 | €50,260 | €30,584 | -€19,676 | -39.1% |
| Operating profit (loss) | 9901 | €49,462 | €21,467 | -€27,996 | -56.6% |
| Financial income | 75/76B | €252 | €390 | +€138 | +55.0% |
| Recurring financial income | 75 | €252 | €390 | +€138 | +55.0% |
| Financial charges | 65/66B | €55 | €237 | +€182 | +327.7% |
| Recurring financial charges | 65 | €55 | €237 | +€182 | +327.7% |
| Profit (loss) for the period before taxes | 9903 | €49,659 | €21,620 | -€28,039 | -56.5% |
| Income taxes | 67/77 | €13,945 | €4,754 | -€9,191 | -65.9% |
| Profit (loss) for the period | 9904 | €35,713 | €16,866 | -€18,848 | -52.8% |
| Profit (loss) for the period to be appropriated | 9905 | €35,713 | €16,866 | -€18,848 | -52.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.