MENLO PARK: 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.
MENLO PARK
Largest movements
- Cash +€210,756
up €210,756 (+110%), from €191,491 to €402,247
mainly Net result for the year (+€252,585) and Receivables within one year (+€36,810)
- Receivables within one year -€36,810
down €36,810 (-20.8%), from €176,622 to €139,812
of which Trade receivables: -€64,390
- Deferred charges and accrued income +€6,157
up €6,157 (+361%), from €1,707 to €7,864
- Reserves +€252,585
up €252,585 (+108%), from €233,518 to €486,103
of which Non-distributable reserves: +€252,585
- Other debts -€81,493
no longer reported in 2025 (was €81,493)
- Tax, wage and social debts +€9,614
up €9,614 (+27.4%), from €35,102 to €44,716
- Gross operating margin +€28,326
up €28,326 (+8.4%), from €339,137 to €367,463
- Taxes +€9,781
up €9,781 (+9.5%), from €103,237 to €113,018
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 | €371,430 | €550,719 | +€179,289 | +48.3% |
| Fixed assets | 21/28 | €1,610 | €796 | -€814 | -50.5% |
| Tangible fixed assets | 22/27 | €1,610 | €796 | -€814 | -50.5% |
| Furniture and vehicles | 24 | €1,610 | €796 | -€814 | -50.5% |
| Current assets | 29/58 | €369,820 | €549,923 | +€180,103 | +48.7% |
| Amounts receivable within one year | 40/41 | €176,622 | €139,812 | -€36,810 | -20.8% |
| Trade receivables | 40 | €89,000 | €24,610 | -€64,390 | -72.3% |
| Other amounts receivable | 41 | €87,622 | €115,202 | +€27,580 | +31.5% |
| Cash at bank and in hand | 54/58 | €191,491 | €402,247 | +€210,756 | +110% |
| Deferred charges and accrued income | 490/1 | €1,707 | €7,864 | +€6,157 | +361% |
| Total equity and liabilities | 10/49 | €371,430 | €550,719 | +€179,289 | +48.3% |
| Equity | 10/15 | €252,487 | €505,072 | +€252,585 | +100% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €233,518 | €486,103 | +€252,585 | +108% |
| Non-distributable reserves | 130/1 | €231,658 | €484,243 | +€252,585 | +109% |
| Other | 1319 | €231,658 | €484,243 | +€252,585 | +109% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €369 | €369 | = | 0.0% |
| Amounts payable | 17/49 | €118,942 | €45,647 | -€73,296 | -61.6% |
| Amounts payable within one year | 42/48 | €118,942 | €45,647 | -€73,296 | -61.6% |
| Trade debts | 44 | €2,347 | €931 | -€1,416 | -60.3% |
| Suppliers | 440/4 | €2,347 | €931 | -€1,416 | -60.3% |
| Taxes, remuneration and social security | 45 | €35,102 | €44,716 | +€9,614 | +27.4% |
| Taxes | 450/3 | €35,102 | €44,716 | +€9,614 | +27.4% |
| Other amounts payable | 47/48 | €81,493 | - | -€81,493 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €814 | €814 | = | 0.0% |
| Other operating charges | 640/8 | €3,105 | €1,704 | -€1,401 | -45.1% |
| Non-recurring operating charges | 66A | €644 | €433 | -€211 | -32.8% |
| Gross operating margin | 9900 | €339,137 | €367,463 | +€28,326 | +8.4% |
| Operating profit (loss) | 9901 | €334,575 | €364,512 | +€29,937 | +8.9% |
| Financial income | 75/76B | €408 | €2,312 | +€1,904 | +466% |
| Recurring financial income | 75 | €408 | €2,312 | +€1,904 | +466% |
| Financial charges | 65/66B | €88 | €1,221 | +€1,133 | +1,293% |
| Recurring financial charges | 65 | €88 | €1,221 | +€1,133 | +1,293% |
| Profit (loss) for the period before taxes | 9903 | €334,895 | €365,603 | +€30,708 | +9.2% |
| Income taxes | 67/77 | €103,237 | €113,018 | +€9,781 | +9.5% |
| Profit (loss) for the period | 9904 | €231,658 | €252,585 | +€20,927 | +9.0% |
| Profit (loss) for the period to be appropriated | 9905 | €231,658 | €252,585 | +€20,927 | +9.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.