MEPETOM: 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.
MEPETOM
Largest movements
- Current investments +€4.0m
up €4.0m (+3,847%), from €104,797 to €4.1m
- Cash -€2.6m
down €2.6m (-38.2%), from €6.7m to €4.2m
mainly Current investments (-€4.0m) and Other debts (-€462,781)
- Tangible fixed assets -€407,232
down €407,232 (-15.0%), from €2.7m to €2.3m
of which Plant, machinery and equipment: -€236,224
- Receivables within one year +€358,490
up €358,490 (+540%), from €66,359 to €424,848
of which Trade receivables: +€370,455
- Reserves +€2.4m
up €2.4m (+29.6%), from €8.1m to €10.5m
of which Distributable reserves: +€2.4m
- Other debts -€462,781
down €462,781 (-88.7%), from €521,570 to €58,789
- Debts after one year -€252,609
down €252,609 (-100%), from €252,609 to €0
- Tax, wage and social debts -€183,430
down €183,430 (-49.4%), from €371,451 to €188,021
of which Taxes: -€180,644
- Gross operating margin +€1.0m
up €1.0m (+26.1%), from €3.9m to €4.9m
- Taxes +€209,603
up €209,603 (+32.7%), from €640,273 to €849,876
- Financial income -€96,397
down €96,397 (-45.6%), from €211,499 to €115,102
- Depreciation -€67,878
down €67,878 (-8.7%), from €778,059 to €710,181
- Financial charges -€61,102
down €61,102 (-70.6%), from €86,578 to €25,476
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 | €10,078,968 | €11,479,224 | +€1.4m | +13.9% |
| Fixed assets | 21/28 | €2,813,588 | €2,414,571 | -€399,017 | -14.2% |
| Intangible fixed assets | 21 | €97,247 | €105,462 | +€8,215 | +8.4% |
| Tangible fixed assets | 22/27 | €2,715,341 | €2,308,109 | -€407,232 | -15.0% |
| Land and buildings | 22 | €1,290,528 | €1,132,920 | -€157,608 | -12.2% |
| Plant, machinery and equipment | 23 | €1,396,343 | €1,160,118 | -€236,224 | -16.9% |
| Furniture and vehicles | 24 | €28,470 | €15,071 | -€13,400 | -47.1% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €7,265,380 | €9,064,653 | +€1.8m | +24.8% |
| Amounts receivable after more than one year | 29 | €11,655 | €58,275 | +€46,620 | +400% |
| Other amounts receivable | 291 | €11,655 | €58,275 | +€46,620 | +400% |
| Stocks and contracts in progress | 3 | €281,904 | €223,205 | -€58,699 | -20.8% |
| Stocks | 30/36 | €281,904 | €223,205 | -€58,699 | -20.8% |
| Amounts receivable within one year | 40/41 | €66,359 | €424,848 | +€358,490 | +540% |
| Trade receivables | 40 | €54,393 | €424,848 | +€370,455 | +681% |
| Other amounts receivable | 41 | €11,966 | €0 | -€11,966 | -100% |
| Current investments | 50/53 | €104,797 | €4,136,354 | +€4.0m | +3,847% |
| Cash at bank and in hand | 54/58 | €6,742,805 | €4,163,780 | -€2.6m | -38.2% |
| Deferred charges and accrued income | 490/1 | €57,860 | €58,191 | +€331 | +0.6% |
| Total equity and liabilities | 10/49 | €10,078,968 | €11,479,224 | +€1.4m | +13.9% |
| Equity | 10/15 | €8,276,780 | €10,642,627 | +€2.4m | +28.6% |
| Contributions | 10/11 | €116,510 | €116,510 | = | 0.0% |
| Reserves | 13 | €8,078,496 | €10,469,046 | +€2.4m | +29.6% |
| Tax-exempt reserves | 132 | €83,112 | €67,583 | -€15,529 | -18.7% |
| Distributable reserves | 133 | €7,995,385 | €10,401,464 | +€2.4m | +30.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Investment grants | 15 | €81,774 | €57,071 | -€24,703 | -30.2% |
| Provisions and deferred taxes | 16 | €59,388 | €13,031 | -€46,356 | -78.1% |
| Provisions for liabilities and charges | 160/5 | €39,880 | €0 | -€39,880 | -100% |
| Major repairs and maintenance | 162 | €39,880 | €0 | -€39,880 | -100% |
| Deferred taxes | 168 | €19,508 | €13,031 | -€6,477 | -33.2% |
| Amounts payable | 17/49 | €1,742,800 | €823,566 | -€919,235 | -52.7% |
| Amounts payable after more than one year | 17 | €252,609 | €0 | -€252,609 | -100% |
| Financial debts | 170/4 | €252,609 | €0 | -€252,609 | -100% |
| Amounts payable within one year | 42/48 | €1,490,191 | €823,566 | -€666,626 | -44.7% |
| Current portion of amounts payable after more than one year | 42 | €252,613 | €252,609 | -€4 | 0.0% |
| Trade debts | 44 | €344,557 | €324,146 | -€20,411 | -5.9% |
| Suppliers | 440/4 | €344,557 | €324,146 | -€20,411 | -5.9% |
| Taxes, remuneration and social security | 45 | €371,451 | €188,021 | -€183,430 | -49.4% |
| Taxes | 450/3 | €254,446 | €73,802 | -€180,644 | -71.0% |
| Remuneration and social security | 454/9 | €117,005 | €114,219 | -€2,786 | -2.4% |
| Other amounts payable | 47/48 | €521,570 | €58,789 | -€462,781 | -88.7% |
| Non-recurring operating income | 76A | €1,529 | €57,116 | +€55,587 | +3,636% |
| Remuneration, social security and pensions | 62 | €1,045,576 | €1,086,112 | +€40,537 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €778,059 | €710,181 | -€67,878 | -8.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€39,880 | -€39,880 | |
| Other operating charges | 640/8 | €34,815 | €35,520 | +€705 | +2.0% |
| Gross operating margin | 9900 | €3,913,052 | €4,936,256 | +€1.0m | +26.1% |
| Operating profit (loss) | 9901 | €2,054,602 | €3,144,323 | +€1.1m | +53.0% |
| Financial income | 75/76B | €211,499 | €115,102 | -€96,397 | -45.6% |
| Recurring financial income | 75 | €211,499 | €115,102 | -€96,397 | -45.6% |
| Financial charges | 65/66B | €86,578 | €25,476 | -€61,102 | -70.6% |
| Recurring financial charges | 65 | €86,578 | €25,476 | -€61,102 | -70.6% |
| Profit (loss) for the period before taxes | 9903 | €2,179,523 | €3,233,950 | +€1.1m | +48.4% |
| Transfer from deferred taxes | 780 | €7,681 | €6,477 | -€1,205 | -15.7% |
| Income taxes | 67/77 | €640,273 | €849,876 | +€209,603 | +32.7% |
| Profit (loss) for the period | 9904 | €1,546,932 | €2,390,550 | +€843,618 | +54.5% |
| Transfer from tax-exempt reserves | 789 | €15,529 | €15,529 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,562,461 | €2,406,079 | +€843,618 | +54.0% |
Source: filed annual accounts (NBB), financial years ended 31 October 2024 and 31 October 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.