MENEZES: 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.
MENEZES
Largest movements
- Current investments -€380,401
down €380,401 (-27.9%), from €1.4m to €981,847
- Cash +€157,930
up €157,930 (+39.6%), from €399,300 to €557,230
mainly Current investments (+€380,401) and Other debts (+€50,000)
- Financial fixed assets -€125,111
down €125,111 (-4.0%), from €3.1m to €3.0m
- Profit (loss) carried forward -€208,317
down €208,317 (-26.4%), from €789,301 to €580,984
- Reserves -€150,000
down €150,000 (-3.1%), from €4.9m to €4.7m
of which Distributable reserves: -€148,141
- Financial charges +€426,460
up €426,460 (+21109.9%), from €2,020 to €428,480
- Gross operating margin +€54,913
up €54,913 (+48.6%), from €112,984 to €167,898
- Financial income -€35,720
down €35,720 (-17.9%), from €200,110 to €164,390
- Taxes -€26,522
down €26,522 (-29.5%), from €89,936 to €63,414
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 | €6,116,261 | €5,815,212 | -€301,049 | -4.9% |
| Fixed assets | 21/28 | €4,097,586 | €4,020,144 | -€77,442 | -1.9% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €974,378 | €1,022,047 | +€47,669 | +4.9% |
| Land and buildings | 22 | €961,088 | €918,732 | -€42,356 | -4.4% |
| Plant, machinery and equipment | 23 | €1,065 | €809 | -€256 | -24.0% |
| Furniture and vehicles | 24 | €12,225 | €102,506 | +€90,282 | +738.5% |
| Financial fixed assets | 28 | €3,123,207 | €2,998,096 | -€125,111 | -4.0% |
| Current assets | 29/58 | €2,018,675 | €1,795,068 | -€223,607 | -11.1% |
| Amounts receivable within one year | 40/41 | €251,535 | €248,956 | -€2,579 | -1.0% |
| Trade receivables | 40 | €72,883 | €35,577 | -€37,306 | -51.2% |
| Other amounts receivable | 41 | €178,652 | €213,378 | +€34,726 | +19.4% |
| Current investments | 50/53 | €1,362,249 | €981,847 | -€380,401 | -27.9% |
| Cash at bank and in hand | 54/58 | €399,300 | €557,230 | +€157,930 | +39.6% |
| Deferred charges and accrued income | 490/1 | €5,591 | €7,035 | +€1,444 | +25.8% |
| Total equity and liabilities | 10/49 | €6,116,261 | €5,815,212 | -€301,049 | -4.9% |
| Equity | 10/15 | €5,672,416 | €5,314,099 | -€358,317 | -6.3% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €4,876,918 | €4,726,918 | -€150,000 | -3.1% |
| Non-distributable reserves | 130/1 | €1,859 | - | -€1,859 | |
| Reserves not available under the articles | 1311 | €1,859 | - | -€1,859 | |
| Tax-exempt reserves | 132 | €225,000 | €225,000 | = | 0.0% |
| Distributable reserves | 133 | €4,650,058 | €4,501,918 | -€148,141 | -3.2% |
| Profit (loss) carried forward | 14 | €789,301 | €580,984 | -€208,317 | -26.4% |
| Amounts payable | 17/49 | €443,845 | €501,113 | +€57,268 | +12.9% |
| Amounts payable after more than one year | 17 | €125,435 | €167,210 | +€41,774 | +33.3% |
| Financial debts | 170/4 | €125,435 | €167,210 | +€41,774 | +33.3% |
| Amounts payable within one year | 42/48 | €318,410 | €328,958 | +€10,548 | +3.3% |
| Current portion of amounts payable after more than one year | 42 | €19,699 | €34,259 | +€14,560 | +73.9% |
| Trade debts | 44 | €32,464 | €25,464 | -€7,000 | -21.6% |
| Suppliers | 440/4 | €32,464 | €25,464 | -€7,000 | -21.6% |
| Taxes, remuneration and social security | 45 | €116,247 | €69,235 | -€47,012 | -40.4% |
| Taxes | 450/3 | €101,247 | €69,235 | -€32,012 | -31.6% |
| Remuneration and social security | 454/9 | €15,000 | - | -€15,000 | |
| Other amounts payable | 47/48 | €150,000 | €200,000 | +€50,000 | +33.3% |
| Accrued charges and deferred income | 492/3 | - | €4,946 | +€4,946 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,751 | €47,284 | +€1,533 | +3.4% |
| Other operating charges | 640/8 | €2,736 | €1,426 | -€1,309 | -47.9% |
| Non-recurring operating charges | 66A | €67 | - | -€67 | |
| Gross operating margin | 9900 | €112,984 | €167,898 | +€54,913 | +48.6% |
| Operating profit (loss) | 9901 | €64,431 | €119,187 | +€54,757 | +85.0% |
| Financial income | 75/76B | €200,110 | €164,390 | -€35,720 | -17.9% |
| Recurring financial income | 75 | €200,110 | €164,390 | -€35,720 | -17.9% |
| Financial charges | 65/66B | €2,020 | €428,480 | +€426,460 | +21109.9% |
| Recurring financial charges | 65 | €2,020 | €428,480 | +€426,460 | +21109.9% |
| Profit (loss) for the period before taxes | 9903 | €262,521 | -€144,903 | -€407,423 | |
| Income taxes | 67/77 | €89,936 | €63,414 | -€26,522 | -29.5% |
| Profit (loss) for the period | 9904 | €172,585 | -€208,317 | -€380,902 | |
| Profit (loss) for the period to be appropriated | 9905 | €172,585 | -€208,317 | -€380,902 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.