MENSAERT: 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.
MENSAERT
Largest movements
- Receivables within one year -€76,602
down €76,602 (-77.0%), from €99,506 to €22,904
of which Other amounts receivable: -€77,456
- Cash -€14,790
down €14,790 (-15.8%), from €93,575 to €78,786
mainly Other debts (-€89,480) and Contributions, distributions and other (-€86,259)
- Deferred charges and accrued income -€2,695
down €2,695 (-59.8%), from €4,503 to €1,808
- Other debts -€89,480
down €89,480 (-50.2%), from €178,413 to €88,934
- Tax, wage and social debts -€4,857
down €4,857 (-32.3%), from €15,046 to €10,189
- Gross operating margin -€6,006
down €6,006 (-5.2%), from €116,181 to €110,175
- Financial income -€2,718
down €2,718 (-100.0%), from €2,718 to €0
- Taxes -€2,554
down €2,554 (-10.0%), from €25,418 to €22,864
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 | €197,584 | €103,498 | -€94,086 | -47.6% |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €197,584 | €103,498 | -€94,086 | -47.6% |
| Amounts receivable within one year | 40/41 | €99,506 | €22,904 | -€76,602 | -77.0% |
| Trade receivables | 40 | €17,914 | €18,768 | +€854 | +4.8% |
| Other amounts receivable | 41 | €81,592 | €4,136 | -€77,456 | -94.9% |
| Cash at bank and in hand | 54/58 | €93,575 | €78,786 | -€14,790 | -15.8% |
| Deferred charges and accrued income | 490/1 | €4,503 | €1,808 | -€2,695 | -59.8% |
| Total equity and liabilities | 10/49 | €197,584 | €103,498 | -€94,086 | -47.6% |
| Equity | 10/15 | €3,000 | €3,000 | = | 0.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €194,584 | €100,498 | -€94,086 | -48.4% |
| Amounts payable within one year | 42/48 | €194,584 | €100,498 | -€94,086 | -48.4% |
| Financial debts | 43 | €0 | €12 | +€12 | |
| Credit institutions | 430/8 | €0 | €12 | +€12 | |
| Trade debts | 44 | €1,125 | €1,363 | +€238 | +21.2% |
| Suppliers | 440/4 | €1,125 | €1,363 | +€238 | +21.2% |
| Taxes, remuneration and social security | 45 | €15,046 | €10,189 | -€4,857 | -32.3% |
| Taxes | 450/3 | €15,046 | €10,189 | -€4,857 | -32.3% |
| Other amounts payable | 47/48 | €178,413 | €88,934 | -€89,480 | -50.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €210 | €0 | -€210 | -100% |
| Other operating charges | 640/8 | €887 | €843 | -€43 | -4.9% |
| Gross operating margin | 9900 | €116,181 | €110,175 | -€6,006 | -5.2% |
| Operating profit (loss) | 9901 | €115,084 | €109,332 | -€5,752 | -5.0% |
| Financial income | 75/76B | €2,718 | €0 | -€2,718 | -100.0% |
| Recurring financial income | 75 | €2,718 | €0 | -€2,718 | -100.0% |
| Financial charges | 65/66B | €131 | €208 | +€77 | +58.7% |
| Recurring financial charges | 65 | €131 | €208 | +€77 | +58.7% |
| Profit (loss) for the period before taxes | 9903 | €117,671 | €109,123 | -€8,548 | -7.3% |
| Income taxes | 67/77 | €25,418 | €22,864 | -€2,554 | -10.0% |
| Profit (loss) for the period | 9904 | €92,253 | €86,259 | -€5,994 | -6.5% |
| Profit (loss) for the period to be appropriated | 9905 | €92,253 | €86,259 | -€5,994 | -6.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.