MESA Watt: 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 Watt
Largest movements
- Receivables within one year +€11,301
up €11,301 (+102%), from €11,120 to €22,421
of which Trade receivables: +€8,296
- Cash -€4,040
down €4,040 (-17.7%), from €22,860 to €18,820
mainly Receivables within one year (-€11,301) and Deferred charges and accrued income (-€3,944)
- Deferred charges and accrued income +€3,944
up €3,944 (+73.2%), from €5,388 to €9,332
- Tangible fixed assets +€1,754
up €1,754 (+25.0%), from €7,029 to €8,783
of which Furniture and vehicles: +€2,946
- Trade debts +€11,323
up €11,323 (+179%), from €6,339 to €17,662
- Reserves +€848
up €848 (+1.9%), from €44,758 to €45,606
- Gross operating margin -€60,888
down €60,888 (-94.4%), from €64,487 to €3,598
- Taxes -€17,198
down €17,198 (-96.4%), from €17,841 to €643
- Depreciation +€1,811
up €1,811 (+731%), from €248 to €2,059
- Financial charges -€1,594
down €1,594 (-95.4%), from €1,670 to €76
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 | €59,938 | €72,751 | +€12,814 | +21.4% |
| Fixed assets | 21/28 | €7,029 | €8,783 | +€1,754 | +25.0% |
| Tangible fixed assets | 22/27 | €7,029 | €8,783 | +€1,754 | +25.0% |
| Plant, machinery and equipment | 23 | €5,909 | €4,717 | -€1,192 | -20.2% |
| Furniture and vehicles | 24 | €1,120 | €4,066 | +€2,946 | +263% |
| Current assets | 29/58 | €52,909 | €63,968 | +€11,059 | +20.9% |
| Stocks and contracts in progress | 3 | €13,541 | €13,396 | -€145 | -1.1% |
| Stocks | 30/36 | €13,541 | €13,396 | -€145 | -1.1% |
| Amounts receivable within one year | 40/41 | €11,120 | €22,421 | +€11,301 | +102% |
| Trade receivables | 40 | €3,340 | €11,636 | +€8,296 | +248% |
| Other amounts receivable | 41 | €7,780 | €10,785 | +€3,005 | +38.6% |
| Cash at bank and in hand | 54/58 | €22,860 | €18,820 | -€4,040 | -17.7% |
| Deferred charges and accrued income | 490/1 | €5,388 | €9,332 | +€3,944 | +73.2% |
| Total equity and liabilities | 10/49 | €59,938 | €72,751 | +€12,814 | +21.4% |
| Equity | 10/15 | €46,758 | €47,606 | +€848 | +1.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €44,758 | €45,606 | +€848 | +1.9% |
| Distributable reserves | 133 | €44,758 | €45,606 | +€848 | +1.9% |
| Amounts payable | 17/49 | €13,180 | €25,145 | +€11,965 | +90.8% |
| Amounts payable within one year | 42/48 | €13,180 | €25,145 | +€11,965 | +90.8% |
| Trade debts | 44 | €6,339 | €17,662 | +€11,323 | +179% |
| Suppliers | 440/4 | €6,339 | €17,662 | +€11,323 | +179% |
| Taxes, remuneration and social security | 45 | €6,841 | €7,483 | +€643 | +9.4% |
| Taxes | 450/3 | €6,841 | €7,483 | +€643 | +9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €248 | €2,059 | +€1,811 | +731% |
| Other operating charges | 640/8 | €35 | €147 | +€112 | +319% |
| Gross operating margin | 9900 | €64,487 | €3,598 | -€60,888 | -94.4% |
| Operating profit (loss) | 9901 | €64,204 | €1,393 | -€62,811 | -97.8% |
| Financial income | 75/76B | €65 | €174 | +€109 | +169% |
| Recurring financial income | 75 | €65 | €174 | +€109 | +169% |
| Financial charges | 65/66B | €1,670 | €76 | -€1,594 | -95.4% |
| Recurring financial charges | 65 | €1,670 | €76 | -€1,594 | -95.4% |
| Profit (loss) for the period before taxes | 9903 | €62,599 | €1,491 | -€61,108 | -97.6% |
| Income taxes | 67/77 | €17,841 | €643 | -€17,198 | -96.4% |
| Profit (loss) for the period | 9904 | €44,758 | €848 | -€43,910 | -98.1% |
| Profit (loss) for the period to be appropriated | 9905 | €44,758 | €848 | -€43,910 | -98.1% |
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 28 October 2026 via checked.be.