MESALCO: 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.
MESALCO
Largest movements
- Cash +€25,168
up €25,168 (+63.0%), from €39,935 to €65,104
mainly Net result for the year (+€19,635) and Trade debts (+€7,155)
- Tangible fixed assets -€1,360
down €1,360 (-36.8%), from €3,696 to €2,336
- Reserves +€19,635
up €19,635 (+44.3%), from €44,327 to €63,963
- Trade debts +€7,155
up €7,155 (+105.1%), from €6,808 to €13,964
- Accrued charges and deferred income -€1,568
no longer reported in 2025 (was €1,568)
- Other debts -€1,070
down €1,070 (-37.3%), from €2,870 to €1,800
- Gross operating margin -€29,316
down €29,316 (-50.6%), from €57,957 to €28,641
- Taxes -€5,562
down €5,562 (-46.4%), from €11,979 to €6,417
- Depreciation +€975
up €975 (+253.6%), from €385 to €1,360
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 | €74,553 | €98,123 | +€23,570 | +31.6% |
| Fixed assets | 21/28 | €3,696 | €2,336 | -€1,360 | -36.8% |
| Tangible fixed assets | 22/27 | €3,696 | €2,336 | -€1,360 | -36.8% |
| Furniture and vehicles | 24 | €3,696 | €2,336 | -€1,360 | -36.8% |
| Current assets | 29/58 | €70,857 | €95,787 | +€24,930 | +35.2% |
| Amounts receivable within one year | 40/41 | €29,353 | €28,517 | -€837 | -2.9% |
| Trade receivables | 40 | €24,984 | €23,358 | -€1,626 | -6.5% |
| Other amounts receivable | 41 | €4,369 | €5,159 | +€789 | +18.1% |
| Cash at bank and in hand | 54/58 | €39,935 | €65,104 | +€25,168 | +63.0% |
| Deferred charges and accrued income | 490/1 | €1,568 | €2,167 | +€598 | +38.1% |
| Total equity and liabilities | 10/49 | €74,553 | €98,123 | +€23,570 | +31.6% |
| Equity | 10/15 | €49,327 | €68,963 | +€19,635 | +39.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €44,327 | €63,963 | +€19,635 | +44.3% |
| Distributable reserves | 133 | €44,327 | €63,963 | +€19,635 | +44.3% |
| Amounts payable | 17/49 | €25,226 | €29,160 | +€3,934 | +15.6% |
| Amounts payable within one year | 42/48 | €23,657 | €29,160 | +€5,503 | +23.3% |
| Trade debts | 44 | €6,808 | €13,964 | +€7,155 | +105.1% |
| Suppliers | 440/4 | €6,808 | €13,964 | +€7,155 | +105.1% |
| Taxes, remuneration and social security | 45 | €13,979 | €13,396 | -€583 | -4.2% |
| Taxes | 450/3 | €13,979 | €13,396 | -€583 | -4.2% |
| Other amounts payable | 47/48 | €2,870 | €1,800 | -€1,070 | -37.3% |
| Accrued charges and deferred income | 492/3 | €1,568 | - | -€1,568 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €385 | €1,360 | +€975 | +253.6% |
| Other operating charges | 640/8 | €62 | €62 | = | 0.0% |
| Gross operating margin | 9900 | €57,957 | €28,641 | -€29,316 | -50.6% |
| Operating profit (loss) | 9901 | €57,510 | €27,219 | -€30,292 | -52.7% |
| Financial income | 75/76B | €0 | €0 | +€0 | +200.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +200.0% |
| Financial charges | 65/66B | €1,204 | €1,166 | -€38 | -3.1% |
| Recurring financial charges | 65 | €1,204 | €1,166 | -€38 | -3.1% |
| Profit (loss) for the period before taxes | 9903 | €56,306 | €26,053 | -€30,254 | -53.7% |
| Income taxes | 67/77 | €11,979 | €6,417 | -€5,562 | -46.4% |
| Profit (loss) for the period | 9904 | €44,327 | €19,635 | -€24,692 | -55.7% |
| Profit (loss) for the period to be appropriated | 9905 | €44,327 | €19,635 | -€24,692 | -55.7% |
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 11 October 2026 via checked.be.