MEP APPLICATIONS: 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.
MEP APPLICATIONS
Largest movements
- Current investments +€651,438
up €651,438 (+332%), from €196,019 to €847,457
- Cash -€273,739
down €273,739 (-32.9%), from €832,475 to €558,736
mainly Current investments (-€651,438) and Investment in fixed assets (net) (-€94,424)
- Stocks and contracts +€72,675
up €72,675 (+49.3%), from €147,460 to €220,135
of which Contracts in progress: +€81,300
- Receivables within one year +€32,933
up €32,933 (+7.1%), from €465,308 to €498,241
of which Trade receivables: +€34,672
- Tangible fixed assets +€29,759
up €29,759 (+5.8%), from €516,317 to €546,076
of which Furniture and vehicles: +€33,365
- Reserves +€394,894
up €394,894 (+20.6%), from €1.9m to €2.3m
of which Distributable reserves: +€394,894
- Tax, wage and social debts +€170,743
up €170,743 (+327%), from €52,268 to €223,011
of which Taxes: +€174,934
- Trade debts -€43,698
down €43,698 (-31.5%), from €138,801 to €95,102
- Gross operating margin +€298,993
up €298,993 (+47.7%), from €627,364 to €926,356
- Staff costs +€92,294
up €92,294 (+51.3%), from €179,820 to €272,114
- Taxes +€64,336
up €64,336 (+52.2%), from €123,138 to €187,474
- Depreciation +€22,923
up €22,923 (+54.9%), from €41,743 to €64,666
- Financial charges +€15,485
up €15,485 (+1,589%), from €975 to €16,459
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 | €2,166,418 | €2,677,008 | +€510,590 | +23.6% |
| Fixed assets | 21/28 | €519,306 | €549,064 | +€29,759 | +5.7% |
| Tangible fixed assets | 22/27 | €516,317 | €546,076 | +€29,759 | +5.8% |
| Land and buildings | 22 | €508,493 | €497,940 | -€10,553 | -2.1% |
| Plant, machinery and equipment | 23 | - | €6,947 | +€6,947 | |
| Furniture and vehicles | 24 | €7,824 | €41,189 | +€33,365 | +426% |
| Financial fixed assets | 28 | €2,989 | €2,989 | = | 0.0% |
| Current assets | 29/58 | €1,647,113 | €2,127,944 | +€480,832 | +29.2% |
| Stocks and contracts in progress | 3 | €147,460 | €220,135 | +€72,675 | +49.3% |
| Stocks | 30/36 | €59,420 | €50,795 | -€8,625 | -14.5% |
| Contracts in progress | 37 | €88,040 | €169,340 | +€81,300 | +92.3% |
| Amounts receivable within one year | 40/41 | €465,308 | €498,241 | +€32,933 | +7.1% |
| Trade receivables | 40 | €445,049 | €479,721 | +€34,672 | +7.8% |
| Other amounts receivable | 41 | €20,260 | €18,520 | -€1,740 | -8.6% |
| Current investments | 50/53 | €196,019 | €847,457 | +€651,438 | +332% |
| Cash at bank and in hand | 54/58 | €832,475 | €558,736 | -€273,739 | -32.9% |
| Deferred charges and accrued income | 490/1 | €5,850 | €3,375 | -€2,475 | -42.3% |
| Total equity and liabilities | 10/49 | €2,166,418 | €2,677,008 | +€510,590 | +23.6% |
| Equity | 10/15 | €1,943,686 | €2,338,580 | +€394,894 | +20.3% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €1,913,686 | €2,308,580 | +€394,894 | +20.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €20,341 | €20,341 | = | 0.0% |
| Distributable reserves | 133 | €1,893,345 | €2,288,239 | +€394,894 | +20.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €222,732 | €338,428 | +€115,696 | +51.9% |
| Amounts payable within one year | 42/48 | €222,732 | €338,428 | +€115,696 | +51.9% |
| Trade debts | 44 | €138,801 | €95,102 | -€43,698 | -31.5% |
| Suppliers | 440/4 | €138,801 | €95,102 | -€43,698 | -31.5% |
| Advances received on contracts in progress | 46 | €192 | €0 | -€192 | -100% |
| Taxes, remuneration and social security | 45 | €52,268 | €223,011 | +€170,743 | +327% |
| Taxes | 450/3 | €13,348 | €188,282 | +€174,934 | +1,311% |
| Remuneration and social security | 454/9 | €38,920 | €34,729 | -€4,191 | -10.8% |
| Other amounts payable | 47/48 | €31,471 | €20,315 | -€11,156 | -35.4% |
| Non-recurring operating income | 76A | - | €4,823 | +€4,823 | |
| Remuneration, social security and pensions | 62 | €179,820 | €272,114 | +€92,294 | +51.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,743 | €64,666 | +€22,923 | +54.9% |
| Other operating charges | 640/8 | €9,898 | €10,469 | +€571 | +5.8% |
| Non-recurring operating charges | 66A | €595 | €0 | -€595 | -100% |
| Gross operating margin | 9900 | €627,364 | €926,356 | +€298,993 | +47.7% |
| Operating profit (loss) | 9901 | €395,308 | €579,108 | +€183,800 | +46.5% |
| Financial income | 75/76B | €5,608 | €19,720 | +€14,112 | +252% |
| Recurring financial income | 75 | €5,608 | €19,720 | +€14,112 | +252% |
| Financial charges | 65/66B | €975 | €16,459 | +€15,485 | +1,589% |
| Recurring financial charges | 65 | €975 | €16,459 | +€15,485 | +1,589% |
| Profit (loss) for the period before taxes | 9903 | €399,941 | €582,368 | +€182,427 | +45.6% |
| Income taxes | 67/77 | €123,138 | €187,474 | +€64,336 | +52.2% |
| Profit (loss) for the period | 9904 | €276,803 | €394,894 | +€118,091 | +42.7% |
| Profit (loss) for the period to be appropriated | 9905 | €276,803 | €394,894 | +€118,091 | +42.7% |
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 24 October 2026 via checked.be.