MENKEN: 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.
What changed
MENKEN
NACE 10.890, Manufacture of food products
fiscal year 2023 against 2025not consecutivefiled annual accounts (NBB)
Net result for the year
€2.2m
2023 · €1.4m+€841,818
Equity
€16.4m
2023 · €14.6m+€1.8m
Cash
€1.0m
2023 · €915,935+€130,316
Balance sheet total
€28.4m
2023 · €25.9m+€2.5m
Largest movements
Assets
- Tangible fixed assets +€1.6m
up €1.6m (+35.3%), from €4.5m to €6.1m
of which Plant, machinery and equipment: +€1.6m
- Stocks and contracts +€1.3m
up €1.3m (+18.4%), from €7.1m to €8.4m
- Deferred charges and accrued income -€308,082
down €308,082 (-72.3%), from €425,870 to €117,788
Equity and liabilities
- Reserves +€1.8m
up €1.8m (+12.1%), from €14.5m to €16.3m
of which Distributable reserves: +€1.8m
- Other debts +€672,768
up €672,768 (+77.4%), from €868,992 to €1.5m
- Short-term financial debts -€500,000
down €500,000 (-5.9%), from €8.5m to €8.0m
Income statement
- Goods and materials -€3.7m
down €3.7m (-6.2%), from €59.9m to €56.2m
of which Purchases: -€2.8m
- Turnover -€906,171
down €906,171 (-1.3%), from €71.2m to €70.3m
From the 2023 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.
Result 2023
€1.4m
Turnover
-€906,171
Other operating income
+€127,844
Goods and materials
+€3.7m
Services and other goods
+€76,703
Staff costs
-€496,528
Depreciation
-€214,391
Provisions
-€44,913
Other operating charges
+€125,439
Other operating items
-€1.3m
Financial income
-€44,120
Financial charges
+€108,459
Taxes
-€263,918
Result 2025
€2.2m
Cash bridge derived
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €25,949,549 | €28,401,781 | +€2.5m | +9.5% |
| Fixed assets | 21/28 | €4,640,334 | €6,207,407 | +€1.6m | +33.8% |
| Intangible fixed assets | 21 | €122,094 | €93,147 | -€28,947 | -23.7% |
| Tangible fixed assets | 22/27 | €4,518,241 | €6,114,260 | +€1.6m | +35.3% |
| Land and buildings | 22 | €1,552,508 | €1,488,177 | -€64,331 | -4.1% |
| Plant, machinery and equipment | 23 | €2,669,494 | €4,295,689 | +€1.6m | +60.9% |
| Furniture and vehicles | 24 | €296,239 | €330,394 | +€34,155 | +11.5% |
| Current assets | 29/58 | €21,309,214 | €22,194,374 | +€885,160 | +4.2% |
| Stocks and contracts in progress | 3 | €7,092,299 | €8,396,416 | +€1.3m | +18.4% |
| Stocks | 30/36 | €7,092,299 | €8,396,416 | +€1.3m | +18.4% |
| Raw materials and consumables | 30/31 | €2,927,853 | €3,939,747 | +€1.0m | +34.6% |
| Finished goods | 33 | €4,164,447 | €4,456,669 | +€292,222 | +7.0% |
| Amounts receivable within one year | 40/41 | €12,875,110 | €12,633,919 | -€241,191 | -1.9% |
| Trade receivables | 40 | €12,459,274 | €11,899,825 | -€559,449 | -4.5% |
| Other amounts receivable | 41 | €415,836 | €734,094 | +€318,258 | +76.5% |
| Cash at bank and in hand | 54/58 | €915,935 | €1,046,251 | +€130,316 | +14.2% |
| Deferred charges and accrued income | 490/1 | €425,870 | €117,788 | -€308,082 | -72.3% |
| Total equity and liabilities | 10/49 | €25,949,549 | €28,401,781 | +€2.5m | +9.5% |
| Equity | 10/15 | €14,614,540 | €16,373,799 | +€1.8m | +12.0% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Capital | 10 | €120,000 | €120,000 | = | 0.0% |
| Issued capital | 100 | €120,000 | €120,000 | = | 0.0% |
| Reserves | 13 | €14,494,540 | €16,253,799 | +€1.8m | +12.1% |
| Non-distributable reserves | 130/1 | €12,395 | €12,394 | -€1 | 0.0% |
| Legal reserve | 130 | €12,395 | €12,394 | -€1 | 0.0% |
| Tax-exempt reserves | 132 | €374,690 | €374,690 | = | 0.0% |
| Distributable reserves | 133 | €14,107,455 | €15,866,715 | +€1.8m | +12.5% |
| Provisions and deferred taxes | 16 | €225,932 | €369,202 | +€143,270 | +63.4% |
| Provisions for liabilities and charges | 160/5 | €225,932 | €369,202 | +€143,270 | +63.4% |
| Other liabilities and charges | 164/5 | €225,932 | €369,202 | +€143,270 | +63.4% |
| Amounts payable | 17/49 | €11,109,076 | €11,658,780 | +€549,704 | +4.9% |
| Amounts payable within one year | 42/48 | €11,089,551 | €11,641,019 | +€551,468 | +5.0% |
| Financial debts | 43 | €8,500,000 | €8,000,000 | -€500,000 | -5.9% |
| Credit institutions | 430/8 | €8,500,000 | €8,000,000 | -€500,000 | -5.9% |
| Trade debts | 44 | €1,082,049 | €1,336,186 | +€254,137 | +23.5% |
| Suppliers | 440/4 | €1,082,049 | €1,336,186 | +€254,137 | +23.5% |
| Taxes, remuneration and social security | 45 | €638,510 | €763,073 | +€124,563 | +19.5% |
| Taxes | 450/3 | €243,667 | €270,220 | +€26,553 | +10.9% |
| Remuneration and social security | 454/9 | €394,842 | €492,853 | +€98,011 | +24.8% |
| Other amounts payable | 47/48 | €868,992 | €1,541,760 | +€672,768 | +77.4% |
| Accrued charges and deferred income | 492/3 | €19,526 | €17,761 | -€1,765 | -9.0% |
| Operating income | 70/76A | €72,750,114 | €70,629,304 | -€2.1m | -2.9% |
| Turnover | 70 | €71,166,896 | €70,260,725 | -€906,171 | -1.3% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €1,202,827 | -€139,657 | -€1.3m | |
| Other operating income | 74 | €380,392 | €508,236 | +€127,844 | +33.6% |
| Operating charges | 60/66A | €70,472,157 | €67,309,949 | -€3.2m | -4.5% |
| Goods for resale, raw materials and consumables | 60 | €59,892,185 | €56,176,287 | -€3.7m | -6.2% |
| Purchases | 600/8 | €60,119,817 | €57,322,133 | -€2.8m | -4.7% |
| Change in stocks: decrease (increase) | 609 | -€227,633 | -€1,145,846 | -€918,213 | -403.4% |
| Services and other goods | 61 | €4,397,357 | €4,320,654 | -€76,703 | -1.7% |
| Remuneration, social security and pensions | 62 | €4,904,630 | €5,401,158 | +€496,528 | +10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,148,782 | €1,363,173 | +€214,391 | +18.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€56,043 | -€11,130 | +€44,913 | +80.1% |
| Other operating charges | 640/8 | €185,246 | €59,807 | -€125,439 | -67.7% |
| Operating profit (loss) | 9901 | €2,277,958 | €3,319,355 | +€1.0m | +45.7% |
| Financial income | 75/76B | €151,034 | €106,914 | -€44,120 | -29.2% |
| Recurring financial income | 75 | €151,034 | €106,914 | -€44,120 | -29.2% |
| Income from current assets | 751 | €6,884 | €1,442 | -€5,442 | -79.1% |
| Other financial income | 752/9 | €144,150 | €105,472 | -€38,678 | -26.8% |
| Financial charges | 65/66B | €508,892 | €400,433 | -€108,459 | -21.3% |
| Recurring financial charges | 65 | €508,892 | €400,433 | -€108,459 | -21.3% |
| Debt charges | 650 | €370,997 | €261,801 | -€109,196 | -29.4% |
| Other financial charges | 652/9 | €137,895 | €138,632 | +€737 | +0.5% |
| Profit (loss) for the period before taxes | 9903 | €1,920,100 | €3,025,836 | +€1.1m | +57.6% |
| Income taxes | 67/77 | €537,676 | €801,594 | +€263,918 | +49.1% |
| Taxes | 670/3 | €537,676 | €801,594 | +€263,918 | +49.1% |
| Profit (loss) for the period | 9904 | €1,382,424 | €2,224,242 | +€841,818 | +60.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,382,424 | €2,224,242 | +€841,818 | +60.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.