MES.M: 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.M
Largest movements
- Stocks and contracts +€99,937
up €99,937 (+159.1%), from €62,800 to €162,737
- Cash -€99,302
down €99,302 (-79.7%), from €124,632 to €25,329
mainly Stocks and contracts (-€99,937) and Investment in fixed assets (net) (-€13,311)
- Tangible fixed assets +€8,922
new in 2025: €8,922
of which Other tangible fixed assets: +€6,618
- Financial fixed assets +€4,050
new in 2025: €4,050
- Other debts +€17,613
up €17,613 (+10.9%), from €161,895 to €179,508
- Tax, wage and social debts -€8,200
down €8,200 (-91.1%), from €9,000 to €800
- Profit (loss) carried forward +€2,938
up €2,938 (+8.3%), from €35,473 to €38,410
- Turnover -€106,029
down €106,029 (-10.2%), from €1.0m to €929,649
- Purchases and services -€65,417
down €65,417 (-6.6%), from €990,694 to €925,276
- Gross operating margin -€40,612
down €40,612 (-90.3%), from €44,985 to €4,373
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 | €208,368 | €221,286 | +€12,918 | +6.2% |
| Fixed assets | 21/28 | - | €12,972 | +€12,972 | |
| Tangible fixed assets | 22/27 | - | €8,922 | +€8,922 | |
| Furniture and vehicles | 24 | - | €2,303 | +€2,303 | |
| Other tangible fixed assets | 26 | - | €6,618 | +€6,618 | |
| Financial fixed assets | 28 | - | €4,050 | +€4,050 | |
| Current assets | 29/58 | €208,368 | €208,314 | -€53 | 0.0% |
| Stocks and contracts in progress | 3 | €62,800 | €162,737 | +€99,937 | +159.1% |
| Stocks | 30/36 | €62,800 | €162,737 | +€99,937 | +159.1% |
| Amounts receivable within one year | 40/41 | €20,936 | €20,248 | -€688 | -3.3% |
| Trade receivables | 40 | €5,532 | - | -€5,532 | |
| Other amounts receivable | 41 | €15,404 | €20,248 | +€4,844 | +31.4% |
| Cash at bank and in hand | 54/58 | €124,632 | €25,329 | -€99,302 | -79.7% |
| Total equity and liabilities | 10/49 | €208,368 | €221,286 | +€12,918 | +6.2% |
| Equity | 10/15 | €37,473 | €40,410 | +€2,938 | +7.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Outside capital | 11 | €2,000 | €2,000 | = | 0.0% |
| Other | 1109/19 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35,473 | €38,410 | +€2,938 | +8.3% |
| Amounts payable | 17/49 | €170,895 | €180,875 | +€9,980 | +5.8% |
| Amounts payable within one year | 42/48 | €170,895 | €180,875 | +€9,980 | +5.8% |
| Trade debts | 44 | - | €567 | +€567 | |
| Suppliers | 440/4 | - | €567 | +€567 | |
| Taxes, remuneration and social security | 45 | €9,000 | €800 | -€8,200 | -91.1% |
| Taxes | 450/3 | €9,000 | €800 | -€8,200 | -91.1% |
| Other amounts payable | 47/48 | €161,895 | €179,508 | +€17,613 | +10.9% |
| Turnover | 70 | €1,035,678 | €929,649 | -€106,029 | -10.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €990,694 | €925,276 | -€65,417 | -6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €340 | +€340 | |
| Other operating charges | 640/8 | €422 | €248 | -€174 | -41.3% |
| Gross operating margin | 9900 | €44,985 | €4,373 | -€40,612 | -90.3% |
| Operating profit (loss) | 9901 | €44,563 | €3,785 | -€40,778 | -91.5% |
| Financial charges | 65/66B | €90 | €68 | -€22 | -24.4% |
| Recurring financial charges | 65 | €90 | €68 | -€22 | -24.4% |
| Profit (loss) for the period before taxes | 9903 | €44,473 | €3,717 | -€40,756 | -91.6% |
| Income taxes | 67/77 | €9,000 | €779 | -€8,221 | -91.3% |
| Profit (loss) for the period | 9904 | €35,473 | €2,938 | -€32,535 | -91.7% |
| Profit (loss) for the period to be appropriated | 9905 | €35,473 | €2,938 | -€32,535 | -91.7% |
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 28 September 2026 via checked.be.