MENOSA: 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.
MENOSA
Largest movements
- Receivables within one year +€146,503
up €146,503 (+254.2%), from €57,636 to €204,139
of which Trade receivables: +€136,708
- Financial fixed assets -€84,604
down €84,604 (-62.6%), from €135,077 to €50,473
- Tangible fixed assets -€52,891
down €52,891 (-2.0%), from €2.6m to €2.6m
of which Land and buildings: -€51,104
- Other debts -€143,767
down €143,767 (-62.6%), from €229,596 to €85,830
- Profit (loss) carried forward +€100,922
up €100,922 (+30.6%), from -€329,506 to -€228,584
- Debts after one year +€69,077
up €69,077 (+3.2%), from €2.2m to €2.3m
of which Other amounts payable: +€741,794
- Current portion of long-term debt -€52,950
down €52,950 (-53.9%), from €98,294 to €45,343
- Accrued charges and deferred income +€37,414
up €37,414 (+64.8%), from €57,774 to €95,188
- Gross operating margin +€130,632
up €130,632 (+100.3%), from €130,289 to €260,922
- Financial income -€21,331
down €21,331 (-99.6%), from €21,407 to €76
- Depreciation -€10,251
down €10,251 (-13.1%), from €78,403 to €68,152
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 | €3,240,107 | €3,225,800 | -€14,306 | -0.4% |
| Fixed assets | 21/28 | €2,798,305 | €2,646,401 | -€151,905 | -5.4% |
| Intangible fixed assets | 21 | €28,819 | €14,409 | -€14,409 | -50.0% |
| Tangible fixed assets | 22/27 | €2,634,409 | €2,581,518 | -€52,891 | -2.0% |
| Land and buildings | 22 | €2,629,729 | €2,578,625 | -€51,104 | -1.9% |
| Furniture and vehicles | 24 | €4,680 | €2,893 | -€1,787 | -38.2% |
| Financial fixed assets | 28 | €135,077 | €50,473 | -€84,604 | -62.6% |
| Current assets | 29/58 | €441,801 | €579,400 | +€137,598 | +31.1% |
| Stocks and contracts in progress | 3 | €277,958 | €277,958 | = | 0.0% |
| Stocks | 30/36 | €277,958 | €277,958 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €57,636 | €204,139 | +€146,503 | +254.2% |
| Trade receivables | 40 | €27,105 | €163,813 | +€136,708 | +504.4% |
| Other amounts receivable | 41 | €30,532 | €40,326 | +€9,794 | +32.1% |
| Current investments | 50/53 | - | €17,500 | +€17,500 | |
| Cash at bank and in hand | 54/58 | €57,721 | €33,183 | -€24,538 | -42.5% |
| Deferred charges and accrued income | 490/1 | €48,486 | €46,620 | -€1,866 | -3.8% |
| Total equity and liabilities | 10/49 | €3,240,107 | €3,225,800 | -€14,306 | -0.4% |
| Equity | 10/15 | €416,676 | €517,598 | +€100,922 | +24.2% |
| Contributions | 10/11 | €720,000 | €720,000 | = | 0.0% |
| Outside capital | 11 | - | €720,000 | +€720,000 | |
| Other | 1109/19 | - | €720,000 | +€720,000 | |
| Reserves | 13 | €26,182 | €26,182 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,000 | €9,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,000 | €9,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,680 | €6,680 | = | 0.0% |
| Distributable reserves | 133 | €10,502 | €10,502 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€329,506 | -€228,584 | +€100,922 | +30.6% |
| Provisions and deferred taxes | 16 | €217,857 | €205,182 | -€12,675 | -5.8% |
| Provisions for liabilities and charges | 160/5 | €42,339 | €42,339 | = | 0.0% |
| Other liabilities and charges | 164/5 | €42,339 | €42,339 | = | 0.0% |
| Deferred taxes | 168 | €175,517 | €162,842 | -€12,675 | -7.2% |
| Amounts payable | 17/49 | €2,605,574 | €2,503,020 | -€102,554 | -3.9% |
| Amounts payable after more than one year | 17 | €2,185,798 | €2,254,875 | +€69,077 | +3.2% |
| Financial debts | 170/4 | €2,185,798 | €1,513,081 | -€672,717 | -30.8% |
| Other amounts payable | 178/9 | - | €741,794 | +€741,794 | |
| Amounts payable within one year | 42/48 | €362,002 | €152,958 | -€209,044 | -57.7% |
| Current portion of amounts payable after more than one year | 42 | €98,294 | €45,343 | -€52,950 | -53.9% |
| Trade debts | 44 | €33,889 | €21,694 | -€12,195 | -36.0% |
| Suppliers | 440/4 | €33,889 | €21,694 | -€12,195 | -36.0% |
| Taxes, remuneration and social security | 45 | €223 | €90 | -€133 | -59.5% |
| Taxes | 450/3 | €223 | €90 | -€133 | -59.5% |
| Other amounts payable | 47/48 | €229,596 | €85,830 | -€143,767 | -62.6% |
| Accrued charges and deferred income | 492/3 | €57,774 | €95,188 | +€37,414 | +64.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,403 | €68,152 | -€10,251 | -13.1% |
| Other operating charges | 640/8 | €3,237 | €5,034 | +€1,797 | +55.5% |
| Gross operating margin | 9900 | €130,289 | €260,922 | +€130,632 | +100.3% |
| Operating profit (loss) | 9901 | €48,649 | €187,735 | +€139,086 | +285.9% |
| Financial income | 75/76B | €21,407 | €76 | -€21,331 | -99.6% |
| Recurring financial income | 75 | €21,407 | €76 | -€21,331 | -99.6% |
| Financial charges | 65/66B | €98,424 | €99,472 | +€1,049 | +1.1% |
| Recurring financial charges | 65 | €98,424 | €99,472 | +€1,049 | +1.1% |
| Profit (loss) for the period before taxes | 9903 | -€28,367 | €88,339 | +€116,706 | |
| Transfer from deferred taxes | 780 | €12,675 | €12,675 | = | 0.0% |
| Income taxes | 67/77 | €223 | €91 | -€131 | -59.0% |
| Profit (loss) for the period | 9904 | -€15,915 | €100,922 | +€116,838 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,915 | €100,922 | +€116,838 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.