MENEDIC: 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.
MENEDIC
Largest movements
- Receivables after one year -€99,000
down €99,000 (-25.8%), from €384,000 to €285,000
- Cash +€13,596
up €13,596 (+35.4%), from €38,430 to €52,025
mainly Net result for the year (+€110,326) and Receivables after one year (+€99,000)
- Deferred charges and accrued income -€8,327
down €8,327 (-7.4%), from €112,061 to €103,734
- Tangible fixed assets +€7,398
up €7,398 (+13.3%), from €55,701 to €63,099
of which Other tangible fixed assets: +€9,168
- Reserves -€139,188
down €139,188 (-63.0%), from €221,053 to €81,865
of which Distributable reserves: -€139,188
- Other debts +€45,979
up €45,979 (+25.2%), from €182,287 to €228,267
- Tax, wage and social debts +€11,174
up €11,174 (+64.7%), from €17,280 to €28,454
- Gross operating margin -€26,149
down €26,149 (-14.5%), from €180,755 to €154,606
- Taxes -€7,158
down €7,158 (-17.4%), from €41,118 to €33,960
- Depreciation +€2,248
up €2,248 (+26.5%), from €8,476 to €10,724
- Financial income -€2,034
down €2,034 (-17.3%), from €11,755 to €9,722
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 | €594,349 | €505,225 | -€89,124 | -15.0% |
| Fixed assets | 21/28 | €55,976 | €63,374 | +€7,398 | +13.2% |
| Tangible fixed assets | 22/27 | €55,701 | €63,099 | +€7,398 | +13.3% |
| Plant, machinery and equipment | 23 | €1,402 | €2,092 | +€690 | +49.2% |
| Furniture and vehicles | 24 | €10,528 | €8,069 | -€2,460 | -23.4% |
| Other tangible fixed assets | 26 | €43,771 | €52,939 | +€9,168 | +20.9% |
| Financial fixed assets | 28 | €275 | €275 | = | 0.0% |
| Current assets | 29/58 | €538,373 | €441,850 | -€96,522 | -17.9% |
| Amounts receivable after more than one year | 29 | €384,000 | €285,000 | -€99,000 | -25.8% |
| Other amounts receivable | 291 | €384,000 | €285,000 | -€99,000 | -25.8% |
| Amounts receivable within one year | 40/41 | €3,882 | €1,091 | -€2,791 | -71.9% |
| Other amounts receivable | 41 | €3,882 | €1,091 | -€2,791 | -71.9% |
| Cash at bank and in hand | 54/58 | €38,430 | €52,025 | +€13,596 | +35.4% |
| Deferred charges and accrued income | 490/1 | €112,061 | €103,734 | -€8,327 | -7.4% |
| Total equity and liabilities | 10/49 | €594,349 | €505,225 | -€89,124 | -15.0% |
| Equity | 10/15 | €295,453 | €156,265 | -€139,188 | -47.1% |
| Contributions | 10/11 | €74,400 | €74,400 | = | 0.0% |
| Reserves | 13 | €221,053 | €81,865 | -€139,188 | -63.0% |
| Tax-exempt reserves | 132 | €9,138 | €9,138 | = | 0.0% |
| Distributable reserves | 133 | €211,916 | €72,727 | -€139,188 | -65.7% |
| Provisions and deferred taxes | 16 | €52,111 | €52,111 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €52,111 | €52,111 | = | 0.0% |
| Pensions and similar obligations | 160 | €52,111 | €52,111 | = | 0.0% |
| Amounts payable | 17/49 | €246,785 | €296,849 | +€50,064 | +20.3% |
| Amounts payable after more than one year | 17 | €14,374 | €10,167 | -€4,207 | -29.3% |
| Financial debts | 170/4 | €14,374 | €10,167 | -€4,207 | -29.3% |
| Amounts payable within one year | 42/48 | €227,208 | €282,658 | +€55,450 | +24.4% |
| Current portion of amounts payable after more than one year | 42 | €27,632 | €24,763 | -€2,869 | -10.4% |
| Trade debts | 44 | €9 | €1,175 | +€1,166 | +13032.6% |
| Suppliers | 440/4 | €9 | €1,175 | +€1,166 | +13032.6% |
| Taxes, remuneration and social security | 45 | €17,280 | €28,454 | +€11,174 | +64.7% |
| Taxes | 450/3 | €17,280 | €28,454 | +€11,174 | +64.7% |
| Other amounts payable | 47/48 | €182,287 | €228,267 | +€45,979 | +25.2% |
| Accrued charges and deferred income | 492/3 | €5,202 | €4,023 | -€1,179 | -22.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,476 | €10,724 | +€2,248 | +26.5% |
| Other operating charges | 640/8 | €927 | €1,685 | +€758 | +81.8% |
| Gross operating margin | 9900 | €180,755 | €154,606 | -€26,149 | -14.5% |
| Operating profit (loss) | 9901 | €171,352 | €142,197 | -€29,155 | -17.0% |
| Financial income | 75/76B | €11,755 | €9,722 | -€2,034 | -17.3% |
| Recurring financial income | 75 | €11,755 | €9,722 | -€2,034 | -17.3% |
| Financial charges | 65/66B | €9,077 | €7,632 | -€1,444 | -15.9% |
| Recurring financial charges | 65 | €9,077 | €7,632 | -€1,444 | -15.9% |
| Profit (loss) for the period before taxes | 9903 | €174,031 | €144,287 | -€29,744 | -17.1% |
| Income taxes | 67/77 | €41,118 | €33,960 | -€7,158 | -17.4% |
| Profit (loss) for the period | 9904 | €132,912 | €110,326 | -€22,586 | -17.0% |
| Profit (loss) for the period to be appropriated | 9905 | €132,912 | €110,326 | -€22,586 | -17.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.