MEPC-VET: what changed
MEPC-VET
Largest movements
- Cash +€21,199
up €21,199 (+3,904%), from €543 to €21,742
mainly Net result for the year (+€48,760) and Depreciation (+€9,965)
- Deferred charges and accrued income +€13,290
up €13,290 (+1,132%), from €1,174 to €14,464
- Tangible fixed assets -€9,965
down €9,965 (-20.5%), from €48,558 to €38,593
- Receivables within one year -€6,322
down €6,322 (-28.5%), from €22,218 to €15,896
of which Other amounts receivable: -€6,916
- Profit (loss) carried forward +€48,760
up €48,760 (+126%), from €38,597 to €87,357
- Debts after one year -€11,835
down €11,835 (-34.1%), from €34,758 to €22,922
- Other debts -€10,143
down €10,143 (-92.2%), from €10,999 to €855
- Tax, wage and social debts -€8,632
down €8,632 (-76.3%), from €11,315 to €2,683
of which Taxes: -€8,632
- Gross operating margin +€23,586
up €23,586 (+47.6%), from €49,571 to €73,156
- Depreciation +€8,697
up €8,697 (+686%), from €1,268 to €9,965
- Taxes +€3,435
up €3,435 (+39.5%), from €8,700 to €12,135
- Financial charges +€1,561
up €1,561 (+276%), from €566 to €2,127
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €112,493 | €131,020 | +€18,527 | +16.5% |
| Fixed assets | 21/28 | €48,558 | €38,593 | -€9,965 | -20.5% |
| Tangible fixed assets | 22/27 | €48,558 | €38,593 | -€9,965 | -20.5% |
| Furniture and vehicles | 24 | €48,558 | €38,593 | -€9,965 | -20.5% |
| Current assets | 29/58 | €63,936 | €92,427 | +€28,492 | +44.6% |
| Amounts receivable within one year | 40/41 | €22,218 | €15,896 | -€6,322 | -28.5% |
| Trade receivables | 40 | €13,872 | €14,466 | +€594 | +4.3% |
| Other amounts receivable | 41 | €8,346 | €1,430 | -€6,916 | -82.9% |
| Current investments | 50/53 | €40,000 | €40,325 | +€325 | +0.8% |
| Cash at bank and in hand | 54/58 | €543 | €21,742 | +€21,199 | +3,904% |
| Deferred charges and accrued income | 490/1 | €1,174 | €14,464 | +€13,290 | +1,132% |
| Total equity and liabilities | 10/49 | €112,493 | €131,020 | +€18,527 | +16.5% |
| Equity | 10/15 | €43,597 | €92,357 | +€48,760 | +112% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,597 | €87,357 | +€48,760 | +126% |
| Amounts payable | 17/49 | €68,896 | €38,662 | -€30,234 | -43.9% |
| Amounts payable after more than one year | 17 | €34,758 | €22,922 | -€11,835 | -34.1% |
| Financial debts | 170/4 | €34,758 | €22,922 | -€11,835 | -34.1% |
| Amounts payable within one year | 42/48 | €34,138 | €15,740 | -€18,398 | -53.9% |
| Current portion of amounts payable after more than one year | 42 | €11,387 | €11,835 | +€449 | +3.9% |
| Trade debts | 44 | €438 | €366 | -€72 | -16.4% |
| Suppliers | 440/4 | €438 | €366 | -€72 | -16.4% |
| Taxes, remuneration and social security | 45 | €11,315 | €2,683 | -€8,632 | -76.3% |
| Taxes | 450/3 | €11,315 | €2,683 | -€8,632 | -76.3% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €10,999 | €855 | -€10,143 | -92.2% |
| Turnover | 70 | - | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,268 | €9,965 | +€8,697 | +686% |
| Other operating charges | 640/8 | €440 | €694 | +€254 | +57.8% |
| Gross operating margin | 9900 | €49,571 | €73,156 | +€23,586 | +47.6% |
| Operating profit (loss) | 9901 | €47,863 | €62,498 | +€14,634 | +30.6% |
| Financial income | 75/76B | - | €524 | +€524 | |
| Recurring financial income | 75 | - | €524 | +€524 | |
| Financial charges | 65/66B | €566 | €2,127 | +€1,561 | +276% |
| Recurring financial charges | 65 | €566 | €2,127 | +€1,561 | +276% |
| Profit (loss) for the period before taxes | 9903 | €47,297 | €60,895 | +€13,598 | +28.8% |
| Income taxes | 67/77 | €8,700 | €12,135 | +€3,435 | +39.5% |
| Profit (loss) for the period | 9904 | €38,597 | €48,760 | +€10,163 | +26.3% |
| Profit (loss) for the period to be appropriated | 9905 | €38,597 | €48,760 | +€10,163 | +26.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.