MESA: 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.
MESA
Largest movements
- Cash -€49,784
down €49,784 (-85.2%), from €58,461 to €8,677
mainly Net result for the year (-€36,241) and Investment in fixed assets (net) (-€31,780)
- Tangible fixed assets +€29,142
up €29,142 (+959.1%), from €3,038 to €32,181
of which Furniture and vehicles: +€28,481
- Receivables within one year -€4,941
down €4,941 (-50.8%), from €9,732 to €4,791
of which Other amounts receivable: -€4,987
- Deferred charges and accrued income +€1,097
up €1,097 (+40.8%), from €2,686 to €3,784
- Reserves -€24,179
no longer reported in 2025 (was €24,179)
- Debts after one year +€18,741
new in 2025: €18,741
- Trade debts +€18,574
up €18,574 (+109.6%), from €16,944 to €35,517
- Current portion of long-term debt -€18,096
down €18,096 (-78.7%), from €23,000 to €4,904
- Profit (loss) carried forward -€12,062
new in 2025: -€12,062
- Gross operating margin -€39,168
down €39,168, from €9,247 to -€29,922
- Taxes -€10,198
no longer reported in 2025 (was €10,198)
- Financial charges +€1,714
up €1,714 (+572.4%), from €299 to €2,013
- Depreciation +€1,658
up €1,658 (+169.4%), from €979 to €2,637
- Other operating charges -€358
down €358 (-17.5%), from €2,041 to €1,683
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 | €83,485 | €58,920 | -€24,566 | -29.4% |
| Fixed assets | 21/28 | €3,120 | €32,262 | +€29,142 | +934.0% |
| Tangible fixed assets | 22/27 | €3,038 | €32,181 | +€29,142 | +959.1% |
| Plant, machinery and equipment | 23 | €878 | €2,080 | +€1,201 | +136.8% |
| Furniture and vehicles | 24 | - | €28,481 | +€28,481 | |
| Other tangible fixed assets | 26 | €2,160 | €1,620 | -€540 | -25.0% |
| Financial fixed assets | 28 | €82 | €82 | = | 0.0% |
| Current assets | 29/58 | €80,365 | €26,657 | -€53,708 | -66.8% |
| Stocks and contracts in progress | 3 | €9,486 | €9,405 | -€81 | -0.9% |
| Stocks | 30/36 | €9,486 | €9,405 | -€81 | -0.9% |
| Amounts receivable within one year | 40/41 | €9,732 | €4,791 | -€4,941 | -50.8% |
| Trade receivables | 40 | €2,937 | €2,984 | +€47 | +1.6% |
| Other amounts receivable | 41 | €6,795 | €1,807 | -€4,987 | -73.4% |
| Cash at bank and in hand | 54/58 | €58,461 | €8,677 | -€49,784 | -85.2% |
| Deferred charges and accrued income | 490/1 | €2,686 | €3,784 | +€1,097 | +40.8% |
| Total equity and liabilities | 10/49 | €83,485 | €58,920 | -€24,566 | -29.4% |
| Equity | 10/15 | €32,771 | -€3,470 | -€36,241 | |
| Contributions | 10/11 | €8,592 | €8,592 | = | 0.0% |
| Contributions outside capital | 11 | €8,592 | €8,592 | = | 0.0% |
| Share premium | 1100/10 | €8,592 | €8,592 | = | 0.0% |
| Reserves | 13 | €24,179 | - | -€24,179 | |
| Distributable reserves | 133 | €24,179 | - | -€24,179 | |
| Profit (loss) carried forward | 14 | - | -€12,062 | -€12,062 | |
| Amounts payable | 17/49 | €50,715 | €62,390 | +€11,675 | +23.0% |
| Amounts payable after more than one year | 17 | - | €18,741 | +€18,741 | |
| Financial debts | 170/4 | - | €18,741 | +€18,741 | |
| Amounts payable within one year | 42/48 | €50,715 | €43,649 | -€7,066 | -13.9% |
| Current portion of amounts payable after more than one year | 42 | €23,000 | €4,904 | -€18,096 | -78.7% |
| Financial debts | 43 | €1,870 | €2,324 | +€455 | +24.3% |
| Credit institutions | 430/8 | €1,870 | €2,324 | +€455 | +24.3% |
| Trade debts | 44 | €16,944 | €35,517 | +€18,574 | +109.6% |
| Suppliers | 440/4 | €16,944 | €35,517 | +€18,574 | +109.6% |
| Taxes, remuneration and social security | 45 | €8,901 | €904 | -€7,998 | -89.8% |
| Taxes | 450/3 | €2,467 | €904 | -€1,564 | -63.4% |
| Remuneration and social security | 454/9 | €6,434 | - | -€6,434 | |
| Non-recurring operating income | 76A | €8,695 | €9,151 | +€456 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €979 | €2,637 | +€1,658 | +169.4% |
| Other operating charges | 640/8 | €2,041 | €1,683 | -€358 | -17.5% |
| Non-recurring operating charges | 66A | €1,972 | - | -€1,972 | |
| Gross operating margin | 9900 | €9,247 | -€29,922 | -€39,168 | |
| Operating profit (loss) | 9901 | €4,255 | -€34,242 | -€38,497 | |
| Financial income | 75/76B | €101 | €14 | -€87 | -86.1% |
| Recurring financial income | 75 | €101 | €14 | -€87 | -86.1% |
| Financial charges | 65/66B | €299 | €2,013 | +€1,714 | +572.4% |
| Recurring financial charges | 65 | €299 | €2,013 | +€1,714 | +572.4% |
| Profit (loss) for the period before taxes | 9903 | €4,056 | -€36,241 | -€40,298 | |
| Income taxes | 67/77 | €10,198 | - | -€10,198 | |
| Profit (loss) for the period | 9904 | -€6,142 | -€36,241 | -€30,100 | -490.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,142 | -€36,241 | -€30,100 | -490.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.