MENM: 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.
MENM
Largest movements
- Cash +€10,118
up €10,118 (+86.4%), from €11,705 to €21,823
mainly Net result for the year (+€47,469) and Depreciation (+€19,071)
- Tangible fixed assets -€7,668
down €7,668 (-1.8%), from €421,328 to €413,660
of which Land and buildings: -€6,444
- Reserves +€47,469
up €47,469 (+30.1%), from €157,643 to €205,111
of which Distributable reserves: +€47,469
- Other debts -€30,039
down €30,039 (-42.9%), from €70,082 to €40,044
- Debts after one year -€19,931
down €19,931 (-5.7%), from €352,659 to €332,729
- Financial income +€32,996
up €32,996 (+818,759%), from €4 to €33,000
- Gross operating margin +€10,910
up €10,910 (+22.1%), from €49,468 to €60,379
- Financial charges +€8,366
up €8,366 (+107%), from €7,801 to €16,167
- Taxes +€3,602
up €3,602 (+58.1%), from €6,197 to €9,800
- Purchases and services +€2,669
up €2,669 (+3.0%), from €89,967 to €92,637
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 | €692,136 | €690,983 | -€1,153 | -0.2% |
| Fixed assets | 21/28 | €671,328 | €663,660 | -€7,668 | -1.1% |
| Tangible fixed assets | 22/27 | €421,328 | €413,660 | -€7,668 | -1.8% |
| Land and buildings | 22 | €417,358 | €410,913 | -€6,444 | -1.5% |
| Plant, machinery and equipment | 23 | €230 | €154 | -€76 | -32.9% |
| Furniture and vehicles | 24 | €3,741 | €2,592 | -€1,148 | -30.7% |
| Financial fixed assets | 28 | €250,000 | €250,000 | = | 0.0% |
| Current assets | 29/58 | €20,808 | €27,324 | +€6,516 | +31.3% |
| Amounts receivable within one year | 40/41 | €8,803 | €5,200 | -€3,602 | -40.9% |
| Other amounts receivable | 41 | €8,803 | €5,200 | -€3,602 | -40.9% |
| Cash at bank and in hand | 54/58 | €11,705 | €21,823 | +€10,118 | +86.4% |
| Deferred charges and accrued income | 490/1 | €300 | €300 | = | 0.0% |
| Total equity and liabilities | 10/49 | €692,136 | €690,983 | -€1,153 | -0.2% |
| Equity | 10/15 | €243,565 | €291,034 | +€47,469 | +19.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €157,643 | €205,111 | +€47,469 | +30.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €155,783 | €203,251 | +€47,469 | +30.5% |
| Profit (loss) carried forward | 14 | €67,322 | €67,322 | = | 0.0% |
| Amounts payable | 17/49 | €448,571 | €399,950 | -€48,621 | -10.8% |
| Amounts payable after more than one year | 17 | €352,659 | €332,729 | -€19,931 | -5.7% |
| Financial debts | 170/4 | €352,659 | €332,729 | -€19,931 | -5.7% |
| Amounts payable within one year | 42/48 | €95,912 | €67,221 | -€28,691 | -29.9% |
| Current portion of amounts payable after more than one year | 42 | €19,169 | €19,931 | +€762 | +4.0% |
| Financial debts | 43 | €3,783 | €3,769 | -€13 | -0.4% |
| Credit institutions | 430/8 | €3,783 | €3,769 | -€13 | -0.4% |
| Trade debts | 44 | €1,144 | €790 | -€354 | -30.9% |
| Suppliers | 440/4 | €1,144 | €790 | -€354 | -30.9% |
| Taxes, remuneration and social security | 45 | €1,734 | €2,687 | +€954 | +55.0% |
| Taxes | 450/3 | €1,734 | €2,687 | +€954 | +55.0% |
| Other amounts payable | 47/48 | €70,082 | €40,044 | -€30,039 | -42.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €89,967 | €92,637 | +€2,669 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,732 | €19,071 | +€339 | +1.8% |
| Other operating charges | 640/8 | €996 | €872 | -€124 | -12.4% |
| Gross operating margin | 9900 | €49,468 | €60,379 | +€10,910 | +22.1% |
| Operating profit (loss) | 9901 | €29,741 | €40,436 | +€10,695 | +36.0% |
| Financial income | 75/76B | €4 | €33,000 | +€32,996 | +818,759% |
| Recurring financial income | 75 | €4 | €33,000 | +€32,996 | +818,759% |
| Financial charges | 65/66B | €7,801 | €16,167 | +€8,366 | +107% |
| Recurring financial charges | 65 | €7,801 | €16,167 | +€8,366 | +107% |
| Profit (loss) for the period before taxes | 9903 | €21,943 | €57,269 | +€35,325 | +161% |
| Income taxes | 67/77 | €6,197 | €9,800 | +€3,602 | +58.1% |
| Profit (loss) for the period | 9904 | €15,746 | €47,469 | +€31,723 | +201% |
| Profit (loss) for the period to be appropriated | 9905 | €15,746 | €47,469 | +€31,723 | +201% |
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.