MENEBA TAELMAN: 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.
MENEBA TAELMAN
Largest movements
- Receivables within one year +€437,678
up €437,678 (+58.6%), from €747,091 to €1.2m
of which Other amounts receivable: +€423,987
- Tangible fixed assets -€117,167
down €117,167 (-9.9%), from €1.2m to €1.1m
of which Plant, machinery and equipment: -€81,509
- Profit (loss) carried forward +€329,932
up €329,932 (+37.4%), from €882,721 to €1.2m
- Revaluation surpluses -€25,896
down €25,896 (-6.4%), from €401,564 to €375,668
- Reserves +€25,896
up €25,896 (+5.1%), from €512,741 to €538,636
of which Distributable reserves: +€25,896
- Financial income -€33,441
down €33,441 (-52.4%), from €63,787 to €30,346
- Other operating charges -€23,894
down €23,894 (-40.8%), from €58,508 to €34,614
- Depreciation +€10,494
up €10,494 (+5.7%), from €183,086 to €193,580
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 | €1,939,640 | €2,266,681 | +€327,040 | +16.9% |
| Fixed assets | 21/28 | €1,182,357 | €1,065,190 | -€117,167 | -9.9% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €1,182,109 | €1,064,942 | -€117,167 | -9.9% |
| Land and buildings | 22 | €744,659 | €764,438 | +€19,779 | +2.7% |
| Plant, machinery and equipment | 23 | €345,125 | €263,617 | -€81,509 | -23.6% |
| Furniture and vehicles | 24 | €9,187 | €6,887 | -€2,300 | -25.0% |
| Assets under construction and advance payments | 27 | €83,137 | €30,000 | -€53,137 | -63.9% |
| Financial fixed assets | 28 | €248 | €248 | = | 0.0% |
| Current assets | 29/58 | €757,284 | €1,201,491 | +€444,207 | +58.7% |
| Amounts receivable within one year | 40/41 | €747,091 | €1,184,769 | +€437,678 | +58.6% |
| Trade receivables | 40 | €55,000 | €68,691 | +€13,691 | +24.9% |
| Other amounts receivable | 41 | €692,091 | €1,116,078 | +€423,987 | +61.3% |
| Cash at bank and in hand | 54/58 | €10,193 | €16,721 | +€6,529 | +64.1% |
| Total equity and liabilities | 10/49 | €1,939,640 | €2,266,681 | +€327,040 | +16.9% |
| Equity | 10/15 | €1,897,025 | €2,226,957 | +€329,932 | +17.4% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Revaluation surpluses | 12 | €401,564 | €375,668 | -€25,896 | -6.4% |
| Reserves | 13 | €512,741 | €538,636 | +€25,896 | +5.1% |
| Non-distributable reserves | 130/1 | €10,063 | €10,063 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €63 | €63 | = | 0.0% |
| Tax-exempt reserves | 132 | €81,708 | €81,708 | = | 0.0% |
| Distributable reserves | 133 | €420,970 | €446,866 | +€25,896 | +6.2% |
| Profit (loss) carried forward | 14 | €882,721 | €1,212,653 | +€329,932 | +37.4% |
| Investment grants | 15 | €0 | €0 | = | |
| Amounts payable | 17/49 | €42,615 | €39,723 | -€2,892 | -6.8% |
| Amounts payable within one year | 42/48 | €42,615 | €39,723 | -€2,892 | -6.8% |
| Trade debts | 44 | €19,190 | €13,026 | -€6,164 | -32.1% |
| Suppliers | 440/4 | €19,190 | €13,026 | -€6,164 | -32.1% |
| Taxes, remuneration and social security | 45 | €23,425 | €26,697 | +€3,272 | +14.0% |
| Taxes | 450/3 | €23,425 | €26,697 | +€3,272 | +14.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €183,086 | €193,580 | +€10,494 | +5.7% |
| Other operating charges | 640/8 | €58,508 | €34,614 | -€23,894 | -40.8% |
| Gross operating margin | 9900 | €640,308 | €646,672 | +€6,363 | +1.0% |
| Operating profit (loss) | 9901 | €398,714 | €418,478 | +€19,764 | +5.0% |
| Financial income | 75/76B | €63,787 | €30,346 | -€33,441 | -52.4% |
| Recurring financial income | 75 | €63,787 | €30,346 | -€33,441 | -52.4% |
| Financial charges | 65/66B | €695 | €620 | -€75 | -10.8% |
| Recurring financial charges | 65 | €695 | €620 | -€75 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | €461,806 | €448,204 | -€13,602 | -2.9% |
| Income taxes | 67/77 | €121,925 | €118,272 | -€3,654 | -3.0% |
| Profit (loss) for the period | 9904 | €339,881 | €329,932 | -€9,949 | -2.9% |
| Profit (loss) for the period to be appropriated | 9905 | €339,881 | €329,932 | -€9,949 | -2.9% |
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 1 November 2026 via checked.be.