MENI: 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.
MENI
Largest movements
- Receivables within one year -€123,103
down €123,103 (-74.7%), from €164,691 to €41,588
of which Trade receivables: -€126,576
- Cash +€116,459
up €116,459 (+481%), from €24,197 to €140,656
mainly Receivables within one year (+€123,103) and Net result for the year (+€62,679)
- Tangible fixed assets -€54,040
down €54,040 (-42.1%), from €128,332 to €74,292
of which Leasing and similar rights: -€52,800
- Deferred charges and accrued income +€9,235
up €9,235 (+8.7%), from €106,173 to €115,408
- Profit (loss) carried forward +€62,679
up €62,679 (+84.4%), from €74,293 to €136,972
- Other debts -€45,371
no longer reported in 2025 (was €45,371)
- Debts after one year -€31,838
no longer reported in 2025 (was €31,838)
- Current portion of long-term debt -€26,760
down €26,760 (-47.0%), from €56,966 to €30,206
- Trade debts -€25,389
down €25,389 (-26.4%), from €96,315 to €70,926
- Depreciation -€67,543
down €67,543 (-55.5%), from €121,787 to €54,244
- Other operating charges -€58,944
down €58,944 (-80.3%), from €73,375 to €14,431
- Staff costs +€38,295
up €38,295 (+6.3%), from €608,440 to €646,735
- Gross operating margin +€26,232
up €26,232 (+3.5%), from €754,984 to €781,217
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 | €431,879 | €378,258 | -€53,621 | -12.4% |
| Formation expenses | 20 | €661 | €457 | -€204 | -30.8% |
| Fixed assets | 21/28 | €136,157 | €80,148 | -€56,009 | -41.1% |
| Tangible fixed assets | 22/27 | €128,332 | €74,292 | -€54,040 | -42.1% |
| Furniture and vehicles | 24 | €1,275 | €35 | -€1,240 | -97.3% |
| Leasing and similar rights | 25 | €127,058 | €74,258 | -€52,800 | -41.6% |
| Financial fixed assets | 28 | €7,825 | €5,856 | -€1,969 | -25.2% |
| Current assets | 29/58 | €295,061 | €297,652 | +€2,591 | +0.9% |
| Amounts receivable within one year | 40/41 | €164,691 | €41,588 | -€123,103 | -74.7% |
| Trade receivables | 40 | €128,163 | €1,588 | -€126,576 | -98.8% |
| Other amounts receivable | 41 | €36,528 | €40,000 | +€3,472 | +9.5% |
| Cash at bank and in hand | 54/58 | €24,197 | €140,656 | +€116,459 | +481% |
| Deferred charges and accrued income | 490/1 | €106,173 | €115,408 | +€9,235 | +8.7% |
| Total equity and liabilities | 10/49 | €431,879 | €378,258 | -€53,621 | -12.4% |
| Equity | 10/15 | €94,753 | €157,432 | +€62,679 | +66.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | €74,293 | €136,972 | +€62,679 | +84.4% |
| Amounts payable | 17/49 | €337,126 | €220,825 | -€116,301 | -34.5% |
| Amounts payable after more than one year | 17 | €31,838 | - | -€31,838 | |
| Financial debts | 170/4 | €31,838 | - | -€31,838 | |
| Amounts payable within one year | 42/48 | €299,248 | €218,913 | -€80,335 | -26.8% |
| Current portion of amounts payable after more than one year | 42 | €56,966 | €30,206 | -€26,760 | -47.0% |
| Financial debts | 43 | €18,939 | €18,492 | -€447 | -2.4% |
| Credit institutions | 430/8 | €18,939 | €18,492 | -€447 | -2.4% |
| Trade debts | 44 | €96,315 | €70,926 | -€25,389 | -26.4% |
| Suppliers | 440/4 | €96,315 | €70,926 | -€25,389 | -26.4% |
| Taxes, remuneration and social security | 45 | €81,657 | €99,290 | +€17,633 | +21.6% |
| Taxes | 450/3 | €19,286 | €23,069 | +€3,783 | +19.6% |
| Remuneration and social security | 454/9 | €62,371 | €76,220 | +€13,849 | +22.2% |
| Other amounts payable | 47/48 | €45,371 | - | -€45,371 | |
| Accrued charges and deferred income | 492/3 | €6,040 | €1,912 | -€4,128 | -68.3% |
| Remuneration, social security and pensions | 62 | €608,440 | €646,735 | +€38,295 | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €121,787 | €54,244 | -€67,543 | -55.5% |
| Other operating charges | 640/8 | €73,375 | €14,431 | -€58,944 | -80.3% |
| Gross operating margin | 9900 | €754,984 | €781,217 | +€26,232 | +3.5% |
| Operating profit (loss) | 9901 | -€48,617 | €65,807 | +€114,425 | |
| Financial income | 75/76B | €12 | €158 | +€146 | +1,178% |
| Recurring financial income | 75 | €12 | €158 | +€146 | +1,178% |
| Financial charges | 65/66B | €4,471 | €3,286 | -€1,185 | -26.5% |
| Recurring financial charges | 65 | €4,471 | €3,286 | -€1,185 | -26.5% |
| Profit (loss) for the period before taxes | 9903 | -€53,076 | €62,679 | +€115,755 | |
| Profit (loss) for the period | 9904 | -€53,076 | €62,679 | +€115,755 | |
| Profit (loss) for the period to be appropriated | 9905 | -€53,076 | €62,679 | +€115,755 |
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 15 October 2026 via checked.be.