MENTEN: 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.
MENTEN
Largest movements
- Stocks and contracts +€60,000
up €60,000 (+600.0%), from €10,000 to €70,000
- Receivables within one year -€56,803
down €56,803 (-55.2%), from €102,896 to €46,093
of which Trade receivables: -€56,691
- Cash +€29,263
up €29,263 (+33.7%), from €86,961 to €116,224
mainly Receivables within one year (+€56,803) and Depreciation (+€20,321)
- Tangible fixed assets -€24,042
down €24,042 (-17.9%), from €134,439 to €110,397
of which Leasing and similar rights: -€16,730
- Debts after one year -€12,762
down €12,762 (-34.1%), from €37,430 to €24,668
- Trade debts +€11,552
up €11,552 (+1098.2%), from €1,052 to €12,604
- Tax, wage and social debts +€9,483
up €9,483 (+67.3%), from €14,089 to €23,572
of which Taxes: +€14,753
- Reserves +€5,515
up €5,515 (+1.9%), from €291,748 to €297,264
of which Distributable reserves: +€5,515
- Gross operating margin -€40,331
down €40,331 (-43.4%), from €92,940 to €52,609
- Depreciation -€6,617
down €6,617 (-24.6%), from €26,938 to €20,321
- Financial charges +€2,865
up €2,865 (+85.2%), from €3,364 to €6,229
of which Non-recurring financial charges: +€3,720
- Taxes -€1,911
down €1,911 (-9.8%), from €19,445 to €17,534
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 | €428,586 | €438,963 | +€10,377 | +2.4% |
| Fixed assets | 21/28 | €134,439 | €110,397 | -€24,042 | -17.9% |
| Tangible fixed assets | 22/27 | €134,439 | €110,397 | -€24,042 | -17.9% |
| Land and buildings | 22 | €62,018 | €60,776 | -€1,242 | -2.0% |
| Plant, machinery and equipment | 23 | €397 | - | -€397 | |
| Furniture and vehicles | 24 | €11,064 | €5,390 | -€5,674 | -51.3% |
| Leasing and similar rights | 25 | €60,960 | €44,231 | -€16,730 | -27.4% |
| Current assets | 29/58 | €294,147 | €328,566 | +€34,419 | +11.7% |
| Stocks and contracts in progress | 3 | €10,000 | €70,000 | +€60,000 | +600.0% |
| Contracts in progress | 37 | €10,000 | €70,000 | +€60,000 | +600.0% |
| Amounts receivable within one year | 40/41 | €102,896 | €46,093 | -€56,803 | -55.2% |
| Trade receivables | 40 | €102,585 | €45,894 | -€56,691 | -55.3% |
| Other amounts receivable | 41 | €311 | €199 | -€112 | -36.1% |
| Current investments | 50/53 | €90,000 | €90,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €86,961 | €116,224 | +€29,263 | +33.7% |
| Deferred charges and accrued income | 490/1 | €4,290 | €6,248 | +€1,959 | +45.7% |
| Total equity and liabilities | 10/49 | €428,586 | €438,963 | +€10,377 | +2.4% |
| Equity | 10/15 | €357,660 | €363,175 | +€5,515 | +1.5% |
| Reserves | 13 | €291,748 | €297,264 | +€5,515 | +1.9% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €289,748 | €295,264 | +€5,515 | +1.9% |
| Profit (loss) carried forward | 14 | €65,912 | €65,912 | = | 0.0% |
| Amounts payable | 17/49 | €70,926 | €75,788 | +€4,861 | +6.9% |
| Amounts payable after more than one year | 17 | €37,430 | €24,668 | -€12,762 | -34.1% |
| Financial debts | 170/4 | €37,430 | €24,668 | -€12,762 | -34.1% |
| Amounts payable within one year | 42/48 | €33,108 | €51,119 | +€18,011 | +54.4% |
| Current portion of amounts payable after more than one year | 42 | €9,769 | €9,620 | -€149 | -1.5% |
| Trade debts | 44 | €1,052 | €12,604 | +€11,552 | +1098.2% |
| Suppliers | 440/4 | €1,052 | €12,604 | +€11,552 | +1098.2% |
| Taxes, remuneration and social security | 45 | €14,089 | €23,572 | +€9,483 | +67.3% |
| Taxes | 450/3 | €6,568 | €21,322 | +€14,753 | +224.6% |
| Remuneration and social security | 454/9 | €7,521 | €2,250 | -€5,271 | -70.1% |
| Other amounts payable | 47/48 | €8,199 | €5,324 | -€2,875 | -35.1% |
| Accrued charges and deferred income | 492/3 | €388 | - | -€388 | |
| Remuneration, social security and pensions | 62 | €38 | - | -€38 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,938 | €20,321 | -€6,617 | -24.6% |
| Other operating charges | 640/8 | €3,096 | €3,037 | -€59 | -1.9% |
| Gross operating margin | 9900 | €92,940 | €52,609 | -€40,331 | -43.4% |
| Operating profit (loss) | 9901 | €62,868 | €29,251 | -€33,617 | -53.5% |
| Financial income | 75/76B | €422 | €28 | -€394 | -93.4% |
| Recurring financial income | 75 | €422 | €28 | -€394 | -93.4% |
| Financial charges | 65/66B | €3,364 | €6,229 | +€2,865 | +85.2% |
| Recurring financial charges | 65 | €3,364 | €2,509 | -€854 | -25.4% |
| Non-recurring financial charges | 66B | - | €3,720 | +€3,720 | |
| Profit (loss) for the period before taxes | 9903 | €59,926 | €23,049 | -€36,877 | -61.5% |
| Income taxes | 67/77 | €19,445 | €17,534 | -€1,911 | -9.8% |
| Profit (loss) for the period | 9904 | €40,481 | €5,515 | -€34,965 | -86.4% |
| Profit (loss) for the period to be appropriated | 9905 | €40,481 | €5,515 | -€34,965 | -86.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.