Menouquin: 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.
What changed
Menouquin
NACE 46.841, Wholesale trade
financial year 2026 compared with 2025filed annual accounts (NBB)
Net result for the year
-€149,348
2025 · €79,396-€228,745
Equity
€7.0m
2025 · €6.5m+€508,220
Cash
€509,977
2025 · €388,982+€120,995
Balance sheet total
€30.9m
2025 · €28.3m+€2.6m
Largest movements
Assets
- Receivables within one year +€3.0m
up €3.0m (+17.6%), from €17.1m to €20.1m
of which Trade receivables: +€2.9m
Equity and liabilities
- Short-term financial debts +€1.2m
up €1.2m (+47.3%), from €2.6m to €3.8m
- Trade debts +€651,768
up €651,768 (+6.6%), from €9.9m to €10.5m
- Revaluation surpluses +€603,128
up €603,128 (+50.5%), from €1.2m to €1.8m
- Tax, wage and social debts +€345,660
up €345,660 (+15.8%), from €2.2m to €2.5m
of which Taxes: +€292,188
Income statement
- Turnover -€1.7m
down €1.7m (-1.1%), from €152.3m to €150.7m
From the 2025 result to the 2026 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 2025
€79,396
Turnover
-€1.7m
Other operating income
+€35,458
Goods and materials
+€1.3m
Services and other goods
-€38,502
Staff costs
-€181,006
Depreciation
-€201,071
Write-downs
+€880,233
Provisions
-€30,000
Other operating charges
+€39,927
Financial income
-€17,843
Financial charges
-€282,061
Taxes
-€9,378
Deferred taxes and other
+€27
Result 2026
-€149,348
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€1.0m
Investment
-€552,802
Financing
+€1.7m
Cash 2025
€388,982
From operations (derived)
-€1.0m
Net result for the year
-€149,348
Depreciation
+€673,395
Receivables after one year
+€116,194
Stocks and contracts
+€282,783
Receivables within one year
-€3.0m
Deferred charges and accrued income
+€48,444
Provisions
-€17,229
Trade debts
+€651,768
Tax, wage and social debts
+€345,660
Other debts
+€1,217
Accrued charges and deferred income
+€24,842
Investment (derived)
-€552,802
Investment in fixed assets (net)
-€552,802
Financing
+€1.7m
Debts after one year
-€159,833
Current portion of long-term debt
-€20,718
Short-term financial debts
+€1.2m
Contributions, distributions and other
+€657,568
Cash 2026
€509,977
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €28,345,102 | €30,908,446 | +€2.6m | +9.0% |
| Fixed assets | 21/28 | €6,971,527 | €6,850,934 | -€120,593 | -1.7% |
| Intangible fixed assets | 21 | €668,407 | €516,327 | -€152,080 | -22.8% |
| Tangible fixed assets | 22/27 | €4,956,578 | €5,245,118 | +€288,540 | +5.8% |
| Land and buildings | 22 | €4,590,041 | €4,964,835 | +€374,795 | +8.2% |
| Plant, machinery and equipment | 23 | €198,694 | €186,798 | -€11,896 | -6.0% |
| Furniture and vehicles | 24 | €160,589 | €93,484 | -€67,104 | -41.8% |
| Assets under construction and advance payments | 27 | €7,255 | - | -€7,255 | |
| Financial fixed assets | 28 | €1,346,542 | €1,089,489 | -€257,053 | -19.1% |
| Affiliated companies | 280/1 | €1,032,106 | €769,840 | -€262,266 | -25.4% |
| Participating interests | 280 | €1,032,106 | €769,840 | -€262,266 | -25.4% |
| Companies linked by participating interests | 282/3 | €20,000 | €20,000 | = | 0.0% |
| Participating interests | 282 | €20,000 | €20,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €294,436 | €299,649 | +€5,213 | +1.8% |
| Shares | 284 | €293,936 | €299,149 | +€5,213 | +1.8% |
| Amounts receivable and cash guarantees | 285/8 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €21,373,575 | €24,057,512 | +€2.7m | +12.6% |
| Amounts receivable after more than one year | 29 | €300,168 | €183,974 | -€116,194 | -38.7% |
| Trade receivables | 290 | €300,168 | €183,974 | -€116,194 | -38.7% |
| Stocks and contracts in progress | 3 | €3,020,566 | €2,737,784 | -€282,783 | -9.4% |
| Stocks | 30/36 | €3,020,566 | €2,737,784 | -€282,783 | -9.4% |
| Goods purchased for resale | 34 | €3,020,566 | €2,737,784 | -€282,783 | -9.4% |
| Amounts receivable within one year | 40/41 | €17,096,399 | €20,106,762 | +€3.0m | +17.6% |
| Trade receivables | 40 | €15,266,599 | €18,192,711 | +€2.9m | +19.2% |
| Other amounts receivable | 41 | €1,829,800 | €1,914,051 | +€84,251 | +4.6% |
| Cash at bank and in hand | 54/58 | €388,982 | €509,977 | +€120,995 | +31.1% |
| Deferred charges and accrued income | 490/1 | €567,459 | €519,015 | -€48,444 | -8.5% |
| Total equity and liabilities | 10/49 | €28,345,102 | €30,908,446 | +€2.6m | +9.0% |
| Equity | 10/15 | €6,493,703 | €7,001,923 | +€508,220 | +7.8% |
| Contributions | 10/11 | €190,960 | €188,480 | -€2,480 | -1.3% |
| Revaluation surpluses | 12 | €1,193,285 | €1,796,414 | +€603,128 | +50.5% |
| Reserves | 13 | €1,599,694 | €1,632,117 | +€32,423 | +2.0% |
| Non-distributable reserves | 130/1 | €45,476 | €45,476 | = | 0.0% |
| Reserves not available under the articles | 1311 | €45,476 | €45,476 | = | 0.0% |
| Tax-exempt reserves | 132 | €699,512 | €660,455 | -€39,057 | -5.6% |
| Distributable reserves | 133 | €854,706 | €926,186 | +€71,480 | +8.4% |
| Profit (loss) carried forward | 14 | €3,439,665 | €3,323,761 | -€115,904 | -3.4% |
| Investment grants | 15 | €70,098 | €61,152 | -€8,946 | -12.8% |
| Provisions and deferred taxes | 16 | €335,202 | €317,974 | -€17,229 | -5.1% |
| Provisions for liabilities and charges | 160/5 | €130,000 | €130,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €130,000 | €130,000 | = | 0.0% |
| Deferred taxes | 168 | €205,202 | €187,974 | -€17,229 | -8.4% |
| Amounts payable | 17/49 | €21,516,196 | €23,588,549 | +€2.1m | +9.6% |
| Amounts payable after more than one year | 17 | €3,409,368 | €3,249,535 | -€159,833 | -4.7% |
| Other amounts payable | 178/9 | €3,409,368 | €3,249,535 | -€159,833 | -4.7% |
| Amounts payable within one year | 42/48 | €14,692,741 | €16,900,085 | +€2.2m | +15.0% |
| Current portion of amounts payable after more than one year | 42 | €20,718 | - | -€20,718 | |
| Financial debts | 43 | €2,600,000 | €3,829,417 | +€1.2m | +47.3% |
| Credit institutions | 430/8 | €2,600,000 | €3,829,417 | +€1.2m | +47.3% |
| Trade debts | 44 | €9,877,311 | €10,529,079 | +€651,768 | +6.6% |
| Suppliers | 440/4 | €9,877,311 | €10,529,079 | +€651,768 | +6.6% |
| Taxes, remuneration and social security | 45 | €2,186,215 | €2,531,876 | +€345,660 | +15.8% |
| Taxes | 450/3 | €1,411,428 | €1,703,616 | +€292,188 | +20.7% |
| Remuneration and social security | 454/9 | €774,787 | €828,260 | +€53,473 | +6.9% |
| Other amounts payable | 47/48 | €8,496 | €9,713 | +€1,217 | +14.3% |
| Accrued charges and deferred income | 492/3 | €3,414,087 | €3,438,929 | +€24,842 | +0.7% |
| Operating income | 70/76A | €158,588,131 | €156,946,379 | -€1.6m | -1.0% |
| Turnover | 70 | €152,342,267 | €150,665,056 | -€1.7m | -1.1% |
| Other operating income | 74 | €6,245,864 | €6,281,323 | +€35,458 | +0.6% |
| Operating charges | 60/66A | €157,068,630 | €155,346,368 | -€1.7m | -1.1% |
| Goods for resale, raw materials and consumables | 60 | €144,073,749 | €142,821,067 | -€1.3m | -0.9% |
| Purchases | 600/8 | €144,251,496 | €142,116,529 | -€2.1m | -1.5% |
| Change in stocks: decrease (increase) | 609 | -€177,747 | €704,538 | +€882,286 | |
| Services and other goods | 61 | €7,874,466 | €7,912,968 | +€38,502 | +0.5% |
| Remuneration, social security and pensions | 62 | €3,818,255 | €3,999,260 | +€181,006 | +4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €472,324 | €673,395 | +€201,071 | +42.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €163,278 | -€716,955 | -€880,233 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€30,000 | - | +€30,000 | |
| Other operating charges | 640/8 | €696,559 | €656,632 | -€39,927 | -5.7% |
| Operating profit (loss) | 9901 | €1,519,501 | €1,600,012 | +€80,511 | +5.3% |
| Financial income | 75/76B | €1,722,250 | €1,704,406 | -€17,843 | -1.0% |
| Recurring financial income | 75 | €1,722,250 | €1,704,406 | -€17,843 | -1.0% |
| Income from financial fixed assets | 750 | €53,629 | €21,951 | -€31,679 | -59.1% |
| Income from current assets | 751 | €28,141 | €6,555 | -€21,586 | -76.7% |
| Other financial income | 752/9 | €1,640,479 | €1,675,901 | +€35,422 | +2.2% |
| Financial charges | 65/66B | €3,020,752 | €3,302,813 | +€282,061 | +9.3% |
| Recurring financial charges | 65 | €3,020,752 | €3,040,547 | +€19,795 | +0.7% |
| Debt charges | 650 | €198,421 | €267,359 | +€68,938 | +34.7% |
| Other financial charges | 652/9 | €2,822,331 | €2,773,188 | -€49,143 | -1.7% |
| Non-recurring financial charges | 66B | - | €262,266 | +€262,266 | |
| Profit (loss) for the period before taxes | 9903 | €220,999 | €1,605 | -€219,394 | -99.3% |
| Transfer from deferred taxes | 780 | €17,201 | €17,229 | +€27 | +0.2% |
| Income taxes | 67/77 | €158,803 | €168,182 | +€9,378 | +5.9% |
| Taxes | 670/3 | €158,919 | €170,329 | +€11,411 | +7.2% |
| Tax adjustments and reversals of tax provisions | 77 | €115 | €2,148 | +€2,032 | +1,761% |
| Profit (loss) for the period | 9904 | €79,396 | -€149,348 | -€228,745 | |
| Transfer from tax-exempt reserves | 789 | €33,391 | €39,057 | +€5,667 | +17.0% |
| Transfer to tax-exempt reserves | 689 | €126,300 | - | -€126,300 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,513 | -€110,291 | -€96,778 | -716% |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.