Mesh: what changed
Mesh
Largest movements
- Tangible fixed assets +€89,693
up €89,693 (+3,612%), from €2,483 to €92,177
of which Leasing and similar rights: +€88,472
- Receivables within one year +€42,205
up €42,205 (+43.3%), from €97,381 to €139,586
of which Trade receivables: +€59,792
- Cash +€37,207
up €37,207 (+23.3%), from €159,412 to €196,619
mainly Debts after one year (+€263,269) and Net result for the year (+€150,898)
- Debts after one year +€263,269
new in 2025: €263,269
of which Other amounts payable: +€212,566
- Reserves -€99,102
down €99,102 (-43.1%), from €229,710 to €130,609
- Other debts -€30,600
down €30,600 (-100%), from €30,600 to €0
- Tax, wage and social debts +€23,538
up €23,538 (+84.0%), from €28,017 to €51,555
of which Taxes: +€19,482
- Current portion of long-term debt +€13,609
new in 2025: €13,609
- Gross operating margin +€92,141
up €92,141 (+75.8%), from €121,582 to €213,723
- Taxes +€18,841
up €18,841 (+72.3%), from €26,073 to €44,915
- Depreciation +€15,707
up €15,707 (+2,855%), from €550 to €16,258
- Financial income +€5,995
up €5,995 (+138%), from €4,358 to €10,354
- Financial charges +€4,970
up €4,970 (+303%), from €1,642 to €6,612
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €292,735 | €464,628 | +€171,893 | +58.7% |
| Fixed assets | 21/28 | €2,483 | €92,177 | +€89,693 | +3,612% |
| Tangible fixed assets | 22/27 | €2,483 | €92,177 | +€89,693 | +3,612% |
| Land and buildings | 22 | €1,491 | €1,284 | -€207 | -13.9% |
| Furniture and vehicles | 24 | €992 | €2,421 | +€1,428 | +144% |
| Leasing and similar rights | 25 | - | €88,472 | +€88,472 | |
| Current assets | 29/58 | €290,252 | €372,451 | +€82,199 | +28.3% |
| Amounts receivable within one year | 40/41 | €97,381 | €139,586 | +€42,205 | +43.3% |
| Trade receivables | 40 | €78,650 | €138,442 | +€59,792 | +76.0% |
| Other amounts receivable | 41 | €18,731 | €1,144 | -€17,586 | -93.9% |
| Current investments | 50/53 | €33,459 | €34,555 | +€1,096 | +3.3% |
| Cash at bank and in hand | 54/58 | €159,412 | €196,619 | +€37,207 | +23.3% |
| Deferred charges and accrued income | 490/1 | €0 | €1,691 | +€1,691 | |
| Total equity and liabilities | 10/49 | €292,735 | €464,628 | +€171,893 | +58.7% |
| Equity | 10/15 | €232,210 | €133,109 | -€99,102 | -42.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €229,710 | €130,609 | -€99,102 | -43.1% |
| Distributable reserves | 133 | €229,710 | €130,609 | -€99,102 | -43.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €60,525 | €331,519 | +€270,994 | +448% |
| Amounts payable after more than one year | 17 | - | €263,269 | +€263,269 | |
| Financial debts | 170/4 | - | €50,704 | +€50,704 | |
| Other amounts payable | 178/9 | - | €212,566 | +€212,566 | |
| Amounts payable within one year | 42/48 | €60,375 | €68,250 | +€7,875 | +13.0% |
| Current portion of amounts payable after more than one year | 42 | - | €13,609 | +€13,609 | |
| Financial debts | 43 | €1,014 | €674 | -€339 | -33.5% |
| Credit institutions | 430/8 | €1,014 | €674 | -€339 | -33.5% |
| Trade debts | 44 | €744 | €2,412 | +€1,668 | +224% |
| Suppliers | 440/4 | €744 | €2,412 | +€1,668 | +224% |
| Taxes, remuneration and social security | 45 | €28,017 | €51,555 | +€23,538 | +84.0% |
| Taxes | 450/3 | €28,017 | €47,499 | +€19,482 | +69.5% |
| Remuneration and social security | 454/9 | - | €4,056 | +€4,056 | |
| Other amounts payable | 47/48 | €30,600 | €0 | -€30,600 | -100% |
| Accrued charges and deferred income | 492/3 | €150 | €0 | -€150 | -100% |
| Non-recurring operating income | 76A | - | €21,479 | +€21,479 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €550 | €16,258 | +€15,707 | +2,855% |
| Other operating charges | 640/8 | €948 | €5,394 | +€4,446 | +469% |
| Gross operating margin | 9900 | €121,582 | €213,723 | +€92,141 | +75.8% |
| Operating profit (loss) | 9901 | €120,083 | €192,072 | +€71,988 | +59.9% |
| Financial income | 75/76B | €4,358 | €10,354 | +€5,995 | +138% |
| Recurring financial income | 75 | €4,358 | €10,354 | +€5,995 | +138% |
| Financial charges | 65/66B | €1,642 | €6,612 | +€4,970 | +303% |
| Recurring financial charges | 65 | €1,642 | €6,612 | +€4,970 | +303% |
| Profit (loss) for the period before taxes | 9903 | €122,800 | €195,813 | +€73,013 | +59.5% |
| Income taxes | 67/77 | €26,073 | €44,915 | +€18,841 | +72.3% |
| Profit (loss) for the period | 9904 | €96,726 | €150,898 | +€54,172 | +56.0% |
| Profit (loss) for the period to be appropriated | 9905 | €96,726 | €150,898 | +€54,172 | +56.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.