MEPOK: 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.
MEPOK
Largest movements
- Cash -€79,788
down €79,788 (-66.7%), from €119,613 to €39,824
mainly Debts after one year (-€58,859) and Investment in fixed assets (net) (-€45,220)
- Debts after one year -€58,859
down €58,859 (-11.7%), from €503,489 to €444,630
- Reserves +€22,522
up €22,522 (+11.5%), from €196,019 to €218,540
of which Distributable reserves: +€22,522
- Tax, wage and social debts -€13,884
down €13,884 (-45.4%), from €30,575 to €16,692
of which Taxes: -€12,866
- Gross operating margin -€29,796
down €29,796 (-14.7%), from €203,111 to €173,315
- Taxes -€16,134
down €16,134 (-65.6%), from €24,599 to €8,465
- Financial charges +€11,657
up €11,657 (+95.3%), from €12,231 to €23,888
- Staff costs +€2,893
up €2,893 (+5.0%), from €57,814 to €60,707
- Depreciation +€2,817
up €2,817 (+5.6%), from €50,643 to €53,460
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.
Cash bridge derived
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 | €1,082,156 | €1,009,090 | -€73,066 | -6.8% |
| Fixed assets | 21/28 | €772,543 | €764,303 | -€8,240 | -1.1% |
| Tangible fixed assets | 22/27 | €772,543 | €764,303 | -€8,240 | -1.1% |
| Land and buildings | 22 | €699,013 | €709,911 | +€10,899 | +1.6% |
| Plant, machinery and equipment | 23 | €67,725 | €51,582 | -€16,143 | -23.8% |
| Furniture and vehicles | 24 | - | €2,810 | +€2,810 | |
| Leasing and similar rights | 25 | €5,806 | €0 | -€5,806 | -100.0% |
| Current assets | 29/58 | €309,613 | €244,787 | -€64,826 | -20.9% |
| Stocks and contracts in progress | 3 | €158,547 | €162,717 | +€4,170 | +2.6% |
| Stocks | 30/36 | €158,547 | €162,717 | +€4,170 | +2.6% |
| Amounts receivable within one year | 40/41 | €29,741 | €38,512 | +€8,771 | +29.5% |
| Trade receivables | 40 | €29,741 | €31,368 | +€1,627 | +5.5% |
| Other amounts receivable | 41 | - | €7,144 | +€7,144 | |
| Cash at bank and in hand | 54/58 | €119,613 | €39,824 | -€79,788 | -66.7% |
| Deferred charges and accrued income | 490/1 | €1,712 | €3,733 | +€2,021 | +118.0% |
| Total equity and liabilities | 10/49 | €1,082,156 | €1,009,090 | -€73,066 | -6.8% |
| Equity | 10/15 | €403,176 | €425,698 | +€22,522 | +5.6% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €196,019 | €218,540 | +€22,522 | +11.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €196,019 | €218,540 | +€22,522 | +11.5% |
| Profit (loss) carried forward | 14 | €107,158 | €107,158 | = | 0.0% |
| Amounts payable | 17/49 | €678,980 | €583,392 | -€95,588 | -14.1% |
| Amounts payable after more than one year | 17 | €503,489 | €444,630 | -€58,859 | -11.7% |
| Financial debts | 170/4 | €503,489 | €444,630 | -€58,859 | -11.7% |
| Amounts payable within one year | 42/48 | €173,841 | €138,762 | -€35,079 | -20.2% |
| Current portion of amounts payable after more than one year | 42 | €55,065 | €46,335 | -€8,729 | -15.9% |
| Trade debts | 44 | €8,921 | €3,023 | -€5,898 | -66.1% |
| Suppliers | 440/4 | €8,921 | €3,023 | -€5,898 | -66.1% |
| Taxes, remuneration and social security | 45 | €30,575 | €16,692 | -€13,884 | -45.4% |
| Taxes | 450/3 | €15,019 | €2,153 | -€12,866 | -85.7% |
| Remuneration and social security | 454/9 | €15,556 | €14,539 | -€1,018 | -6.5% |
| Other amounts payable | 47/48 | €79,280 | €72,712 | -€6,568 | -8.3% |
| Accrued charges and deferred income | 492/3 | €1,650 | €0 | -€1,650 | -100.0% |
| Remuneration, social security and pensions | 62 | €57,814 | €60,707 | +€2,893 | +5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,643 | €53,460 | +€2,817 | +5.6% |
| Other operating charges | 640/8 | €5,946 | €5,683 | -€263 | -4.4% |
| Non-recurring operating charges | 66A | €167 | €0 | -€167 | -100.0% |
| Gross operating margin | 9900 | €203,111 | €173,315 | -€29,796 | -14.7% |
| Operating profit (loss) | 9901 | €88,540 | €53,465 | -€35,076 | -39.6% |
| Financial income | 75/76B | €138 | €1,409 | +€1,272 | +924.2% |
| Recurring financial income | 75 | €138 | €1,409 | +€1,272 | +924.2% |
| Financial charges | 65/66B | €12,231 | €23,888 | +€11,657 | +95.3% |
| Recurring financial charges | 65 | €12,231 | €23,888 | +€11,657 | +95.3% |
| Profit (loss) for the period before taxes | 9903 | €76,447 | €30,986 | -€45,460 | -59.5% |
| Income taxes | 67/77 | €24,599 | €8,465 | -€16,134 | -65.6% |
| Profit (loss) for the period | 9904 | €51,848 | €22,522 | -€29,326 | -56.6% |
| Profit (loss) for the period to be appropriated | 9905 | €51,848 | €22,522 | -€29,326 | -56.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.