MENVEDRA: 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.
MENVEDRA
Largest movements
- Tangible fixed assets +€22,113
up €22,113 (+429%), from €5,154 to €27,268
of which Plant, machinery and equipment: +€25,780
- Cash +€13,937
up €13,937 (+435%), from €3,207 to €17,143
mainly Trade debts (+€43,983) and Net result for the year (+€10,172)
- Receivables within one year +€12,380
up €12,380 (+129%), from €9,625 to €22,005
of which Trade receivables: +€12,700
- Trade debts +€43,983
up €43,983 (+2,189%), from €2,010 to €45,993
- Profit (loss) carried forward +€10,172
up €10,172, from -€102 to €10,070
- Other debts -€5,408
down €5,408 (-52.8%), from €10,250 to €4,842
- Gross operating margin +€12,242
up €12,242 (+167%), from €7,342 to €19,584
- Depreciation +€3,065
up €3,065 (+55.0%), from €5,569 to €8,635
- Taxes -€1,083
no longer reported in 2025 (was €1,083)
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 | €18,558 | €67,046 | +€48,488 | +261% |
| Fixed assets | 21/28 | €5,154 | €27,268 | +€22,113 | +429% |
| Tangible fixed assets | 22/27 | €5,154 | €27,268 | +€22,113 | +429% |
| Plant, machinery and equipment | 23 | €778 | €26,558 | +€25,780 | +3,314% |
| Furniture and vehicles | 24 | €4,376 | €710 | -€3,666 | -83.8% |
| Current assets | 29/58 | €13,404 | €39,778 | +€26,374 | +197% |
| Amounts receivable within one year | 40/41 | €9,625 | €22,005 | +€12,380 | +129% |
| Trade receivables | 40 | €9,304 | €22,005 | +€12,700 | +136% |
| Other amounts receivable | 41 | €320 | - | -€320 | |
| Cash at bank and in hand | 54/58 | €3,207 | €17,143 | +€13,937 | +435% |
| Deferred charges and accrued income | 490/1 | €572 | €630 | +€58 | +10.1% |
| Total equity and liabilities | 10/49 | €18,558 | €67,046 | +€48,488 | +261% |
| Equity | 10/15 | €5,331 | €15,503 | +€10,172 | +191% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €2,433 | €2,433 | = | 0.0% |
| Distributable reserves | 133 | €2,433 | €2,433 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€102 | €10,070 | +€10,172 | |
| Amounts payable | 17/49 | €13,227 | €51,542 | +€38,316 | +290% |
| Amounts payable within one year | 42/48 | €13,227 | €51,542 | +€38,316 | +290% |
| Trade debts | 44 | €2,010 | €45,993 | +€43,983 | +2,189% |
| Suppliers | 440/4 | €2,010 | €45,993 | +€43,983 | +2,189% |
| Taxes, remuneration and social security | 45 | €967 | €708 | -€260 | -26.9% |
| Taxes | 450/3 | €967 | €708 | -€260 | -26.9% |
| Other amounts payable | 47/48 | €10,250 | €4,842 | -€5,408 | -52.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,569 | €8,635 | +€3,065 | +55.0% |
| Other operating charges | 640/8 | €734 | €673 | -€61 | -8.4% |
| Gross operating margin | 9900 | €7,342 | €19,584 | +€12,242 | +167% |
| Operating profit (loss) | 9901 | €1,038 | €10,276 | +€9,238 | +890% |
| Financial charges | 65/66B | €58 | €104 | +€47 | +81.0% |
| Recurring financial charges | 65 | €58 | €104 | +€47 | +81.0% |
| Profit (loss) for the period before taxes | 9903 | €981 | €10,172 | +€9,191 | +937% |
| Income taxes | 67/77 | €1,083 | - | -€1,083 | |
| Profit (loss) for the period | 9904 | -€102 | €10,172 | +€10,274 | |
| Profit (loss) for the period to be appropriated | 9905 | -€102 | €10,172 | +€10,274 |
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 15 October 2026 via checked.be.