MENTEN PAUL: 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.
MENTEN PAUL
Largest movements
- Deferred charges and accrued income -€11,538
down €11,538 (-91.2%), from €12,657 to €1,119
- Cash +€10,850
up €10,850 (+99.0%), from €10,959 to €21,809
mainly Deferred charges and accrued income (+€11,538) and Depreciation (+€5,645)
- Receivables within one year +€6,244
up €6,244 (+399%), from €1,566 to €7,809
of which Other amounts receivable: +€5,715
- Tangible fixed assets -€4,469
down €4,469 (-31.1%), from €14,364 to €9,896
of which Plant, machinery and equipment: -€4,459
- Tax, wage and social debts +€4,500
up €4,500 (+72.8%), from €6,181 to €10,681
of which Remuneration and social security: +€4,500
- Current portion of long-term debt -€4,381
no longer reported in 2025 (was €4,381)
- Other debts +€975
up €975 (+3.6%), from €27,002 to €27,977
- Trade debts -€442
down €442 (-42.6%), from €1,038 to €596
- Profit (loss) carried forward +€436
up €436 (+1.2%), from -€37,640 to -€37,204
- Gross operating margin -€12,478
down €12,478 (-66.9%), from €18,660 to €6,182
- Depreciation +€1,185
up €1,185 (+26.6%), from €4,459 to €5,645
- Financial income +€838
up €838 (+3,252%), from €26 to €864
- Other operating charges -€491
down €491 (-43.7%), from €1,122 to €632
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 | €39,546 | €40,633 | +€1,087 | +2.7% |
| Fixed assets | 21/28 | €14,364 | €9,896 | -€4,469 | -31.1% |
| Tangible fixed assets | 22/27 | €14,364 | €9,896 | -€4,469 | -31.1% |
| Plant, machinery and equipment | 23 | €8,764 | €4,305 | -€4,459 | -50.9% |
| Furniture and vehicles | 24 | €5,600 | €5,591 | -€9 | -0.2% |
| Current assets | 29/58 | €25,182 | €30,737 | +€5,556 | +22.1% |
| Amounts receivable within one year | 40/41 | €1,566 | €7,809 | +€6,244 | +399% |
| Trade receivables | 40 | - | €528 | +€528 | |
| Other amounts receivable | 41 | €1,566 | €7,281 | +€5,715 | +365% |
| Cash at bank and in hand | 54/58 | €10,959 | €21,809 | +€10,850 | +99.0% |
| Deferred charges and accrued income | 490/1 | €12,657 | €1,119 | -€11,538 | -91.2% |
| Total equity and liabilities | 10/49 | €39,546 | €40,633 | +€1,087 | +2.7% |
| Equity | 10/15 | €943 | €1,379 | +€436 | +46.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €19,991 | €19,991 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,000 | €1,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,000 | €1,000 | = | 0.0% |
| Distributable reserves | 133 | €18,991 | €18,991 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€37,640 | -€37,204 | +€436 | +1.2% |
| Amounts payable | 17/49 | €38,603 | €39,254 | +€651 | +1.7% |
| Amounts payable within one year | 42/48 | €38,603 | €39,254 | +€651 | +1.7% |
| Current portion of amounts payable after more than one year | 42 | €4,381 | - | -€4,381 | |
| Trade debts | 44 | €1,038 | €596 | -€442 | -42.6% |
| Suppliers | 440/4 | €1,038 | €596 | -€442 | -42.6% |
| Taxes, remuneration and social security | 45 | €6,181 | €10,681 | +€4,500 | +72.8% |
| Taxes | 450/3 | €1,681 | €1,681 | = | 0.0% |
| Remuneration and social security | 454/9 | €4,500 | €9,000 | +€4,500 | +100% |
| Other amounts payable | 47/48 | €27,002 | €27,977 | +€975 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,459 | €5,645 | +€1,185 | +26.6% |
| Other operating charges | 640/8 | €1,122 | €632 | -€491 | -43.7% |
| Non-recurring operating charges | 66A | €3,597 | - | -€3,597 | |
| Gross operating margin | 9900 | €18,660 | €6,182 | -€12,478 | -66.9% |
| Operating profit (loss) | 9901 | €9,481 | -€94 | -€9,576 | |
| Financial income | 75/76B | €26 | €864 | +€838 | +3,252% |
| Recurring financial income | 75 | €26 | €864 | +€838 | +3,252% |
| Financial charges | 65/66B | €446 | €334 | -€112 | -25.1% |
| Recurring financial charges | 65 | €446 | €334 | -€112 | -25.1% |
| Profit (loss) for the period before taxes | 9903 | €9,061 | €436 | -€8,625 | -95.2% |
| Profit (loss) for the period | 9904 | €9,061 | €436 | -€8,625 | -95.2% |
| Profit (loss) for the period to be appropriated | 9905 | €9,061 | €436 | -€8,625 | -95.2% |
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 30 October 2026 via checked.be.