MES INVESTS: 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.
MES INVESTS
Largest movements
- Tangible fixed assets -€46,072
down €46,072 (-7.6%), from €607,869 to €561,797
- Cash -€9,233
down €9,233 (-38.2%), from €24,150 to €14,917
mainly Debts after one year (-€29,555) and Net result for the year (-€22,821)
- Debts after one year -€29,555
down €29,555 (-6.6%), from €447,095 to €417,540
- Profit (loss) carried forward -€22,821
down €22,821 (-163007.1%), from -€14 to -€22,835
- Gross operating margin -€27,101
down €27,101 (-35.1%), from €77,250 to €50,149
- Depreciation +€17,479
up €17,479 (+57.8%), from €30,243 to €47,722
- Financial charges -€2,688
down €2,688 (-13.9%), from €19,277 to €16,589
- Other operating charges -€1,482
down €1,482 (-14.6%), from €10,141 to €8,659
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 | €688,355 | €632,122 | -€56,233 | -8.2% |
| Fixed assets | 21/28 | €607,869 | €561,797 | -€46,072 | -7.6% |
| Tangible fixed assets | 22/27 | €607,869 | €561,797 | -€46,072 | -7.6% |
| Land and buildings | 22 | €607,869 | €561,797 | -€46,072 | -7.6% |
| Current assets | 29/58 | €80,486 | €70,325 | -€10,161 | -12.6% |
| Stocks and contracts in progress | 3 | €53,600 | €53,600 | = | 0.0% |
| Stocks | 30/36 | €53,600 | €53,600 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,736 | €1,808 | -€928 | -33.9% |
| Other amounts receivable | 41 | €2,736 | €1,808 | -€928 | -33.9% |
| Cash at bank and in hand | 54/58 | €24,150 | €14,917 | -€9,233 | -38.2% |
| Total equity and liabilities | 10/49 | €688,355 | €632,122 | -€56,233 | -8.2% |
| Equity | 10/15 | €23,586 | €765 | -€22,821 | -96.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €5,000 | €5,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14 | -€22,835 | -€22,821 | -163007.1% |
| Amounts payable | 17/49 | €664,769 | €631,357 | -€33,412 | -5.0% |
| Amounts payable after more than one year | 17 | €447,095 | €417,540 | -€29,555 | -6.6% |
| Financial debts | 170/4 | €447,095 | €417,540 | -€29,555 | -6.6% |
| Amounts payable within one year | 42/48 | €217,674 | €213,817 | -€3,857 | -1.8% |
| Current portion of amounts payable after more than one year | 42 | €28,365 | €29,555 | +€1,190 | +4.2% |
| Trade debts | 44 | €2,342 | €1,927 | -€415 | -17.7% |
| Suppliers | 440/4 | €2,342 | €1,927 | -€415 | -17.7% |
| Taxes, remuneration and social security | 45 | €1,965 | €545 | -€1,420 | -72.3% |
| Taxes | 450/3 | €1,965 | €545 | -€1,420 | -72.3% |
| Other amounts payable | 47/48 | €185,002 | €181,790 | -€3,212 | -1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,243 | €47,722 | +€17,479 | +57.8% |
| Other operating charges | 640/8 | €10,141 | €8,659 | -€1,482 | -14.6% |
| Gross operating margin | 9900 | €77,250 | €50,149 | -€27,101 | -35.1% |
| Operating profit (loss) | 9901 | €36,866 | -€6,232 | -€43,098 | |
| Financial income | 75/76B | €9 | - | -€9 | |
| Recurring financial income | 75 | €9 | - | -€9 | |
| Financial charges | 65/66B | €19,277 | €16,589 | -€2,688 | -13.9% |
| Recurring financial charges | 65 | €19,277 | €16,589 | -€2,688 | -13.9% |
| Profit (loss) for the period before taxes | 9903 | €17,598 | -€22,821 | -€40,419 | |
| Profit (loss) for the period | 9904 | €17,598 | -€22,821 | -€40,419 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,598 | -€22,821 | -€40,419 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.