MENUISUD: 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.
MENUISUD
Largest movements
- Cash +€108,301
up €108,301 (+26.0%), from €415,823 to €524,124
mainly Net result for the year (+€107,533) and Receivables within one year (+€91,044)
- Receivables within one year -€91,044
down €91,044 (-45.8%), from €198,656 to €107,611
of which Trade receivables: -€93,107
- Profit (loss) carried forward +€107,533
up €107,533 (+24.5%), from €438,381 to €545,914
- Other debts -€104,248
down €104,248 (-37.7%), from €276,287 to €172,040
- Trade debts +€54,046
up €54,046 (+66.5%), from €81,226 to €135,272
- Current portion of long-term debt -€22,722
down €22,722 (-65.6%), from €34,621 to €11,899
- Debts after one year -€11,899
no longer reported in 2024 (was €11,899)
- Staff costs -€37,188
down €37,188 (-15.8%), from €235,440 to €198,252
- Gross operating margin -€30,163
down €30,163 (-6.9%), from €434,495 to €404,331
- Taxes -€10,950
down €10,950 (-21.9%), from €50,040 to €39,090
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,050,950 | €1,070,368 | +€19,418 | +1.8% |
| Fixed assets | 21/28 | €355,882 | €363,793 | +€7,911 | +2.2% |
| Tangible fixed assets | 22/27 | €355,820 | €363,731 | +€7,911 | +2.2% |
| Land and buildings | 22 | €350,900 | €309,050 | -€41,850 | -11.9% |
| Plant, machinery and equipment | 23 | €1,416 | €2,052 | +€637 | +45.0% |
| Furniture and vehicles | 24 | €3,504 | €52,628 | +€49,124 | +1401.7% |
| Financial fixed assets | 28 | €62 | €62 | = | 0.0% |
| Current assets | 29/58 | €695,068 | €706,575 | +€11,507 | +1.7% |
| Stocks and contracts in progress | 3 | €80,589 | €74,840 | -€5,750 | -7.1% |
| Stocks | 30/36 | €80,589 | €74,840 | -€5,750 | -7.1% |
| Amounts receivable within one year | 40/41 | €198,656 | €107,611 | -€91,044 | -45.8% |
| Trade receivables | 40 | €175,923 | €82,815 | -€93,107 | -52.9% |
| Other amounts receivable | 41 | €22,733 | €24,796 | +€2,063 | +9.1% |
| Cash at bank and in hand | 54/58 | €415,823 | €524,124 | +€108,301 | +26.0% |
| Total equity and liabilities | 10/49 | €1,050,950 | €1,070,368 | +€19,418 | +1.8% |
| Equity | 10/15 | €600,030 | €704,686 | +€104,657 | +17.4% |
| Reserves | 13 | €154,268 | €154,268 | = | 0.0% |
| Non-distributable reserves | 130/1 | €54,268 | €54,268 | = | 0.0% |
| Reserves not available under the articles | 1311 | €54,268 | €54,268 | = | 0.0% |
| Distributable reserves | 133 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €438,381 | €545,914 | +€107,533 | +24.5% |
| Investment grants | 15 | €7,381 | €4,504 | -€2,876 | -39.0% |
| Amounts payable | 17/49 | €450,920 | €365,681 | -€85,239 | -18.9% |
| Amounts payable after more than one year | 17 | €11,899 | - | -€11,899 | |
| Financial debts | 170/4 | €11,899 | - | -€11,899 | |
| Amounts payable within one year | 42/48 | €439,021 | €365,681 | -€73,340 | -16.7% |
| Current portion of amounts payable after more than one year | 42 | €34,621 | €11,899 | -€22,722 | -65.6% |
| Trade debts | 44 | €81,226 | €135,272 | +€54,046 | +66.5% |
| Suppliers | 440/4 | €81,226 | €135,272 | +€54,046 | +66.5% |
| Taxes, remuneration and social security | 45 | €46,886 | €46,471 | -€416 | -0.9% |
| Taxes | 450/3 | €30,316 | €29,750 | -€566 | -1.9% |
| Remuneration and social security | 454/9 | €16,570 | €16,721 | +€150 | +0.9% |
| Other amounts payable | 47/48 | €276,287 | €172,040 | -€104,248 | -37.7% |
| Non-recurring operating income | 76A | - | €1,850 | +€1,850 | |
| Remuneration, social security and pensions | 62 | €235,440 | €198,252 | -€37,188 | -15.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,606 | €47,163 | -€3,443 | -6.8% |
| Other operating charges | 640/8 | €11,700 | €11,017 | -€683 | -5.8% |
| Gross operating margin | 9900 | €434,495 | €404,331 | -€30,163 | -6.9% |
| Operating profit (loss) | 9901 | €136,749 | €147,900 | +€11,150 | +8.2% |
| Financial income | 75/76B | €2,935 | €4,356 | +€1,420 | +48.4% |
| Recurring financial income | 75 | €2,935 | €4,356 | +€1,420 | +48.4% |
| Financial charges | 65/66B | €5,237 | €5,632 | +€396 | +7.6% |
| Recurring financial charges | 65 | €5,237 | €5,632 | +€396 | +7.6% |
| Profit (loss) for the period before taxes | 9903 | €134,448 | €146,623 | +€12,175 | +9.1% |
| Income taxes | 67/77 | €50,040 | €39,090 | -€10,950 | -21.9% |
| Profit (loss) for the period | 9904 | €84,408 | €107,533 | +€23,125 | +27.4% |
| Profit (loss) for the period to be appropriated | 9905 | €84,408 | €107,533 | +€23,125 | +27.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.