MESSEC: 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.
MESSEC
Largest movements
- Cash +€126,421
up €126,421 (+83.0%), from €152,378 to €278,800
mainly Other debts (+€244,392) and Net result for the year (+€127,939)
- Other debts +€244,392
up €244,392 (+1360.7%), from €17,961 to €262,352
- Reserves -€119,992
no longer reported in 2025 (was €119,992)
- Tax, wage and social debts +€5,725
up €5,725 (+30.4%), from €18,843 to €24,568
- Gross operating margin +€63,368
up €63,368 (+55.3%), from €114,654 to €178,022
- Taxes +€10,950
up €10,950 (+54.0%), from €20,263 to €31,212
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 | €227,288 | €355,709 | +€128,421 | +56.5% |
| Fixed assets | 21/28 | €51,621 | €52,840 | +€1,218 | +2.4% |
| Tangible fixed assets | 22/27 | €51,621 | €52,840 | +€1,218 | +2.4% |
| Plant, machinery and equipment | 23 | - | €15,560 | +€15,560 | |
| Furniture and vehicles | 24 | €46,834 | €33,454 | -€13,380 | -28.6% |
| Other tangible fixed assets | 26 | €4,788 | €3,826 | -€961 | -20.1% |
| Current assets | 29/58 | €175,666 | €302,869 | +€127,203 | +72.4% |
| Amounts receivable within one year | 40/41 | €22,183 | €22,904 | +€721 | +3.2% |
| Trade receivables | 40 | €22,183 | €22,904 | +€721 | +3.2% |
| Cash at bank and in hand | 54/58 | €152,378 | €278,800 | +€126,421 | +83.0% |
| Deferred charges and accrued income | 490/1 | €1,105 | €1,165 | +€60 | +5.5% |
| Total equity and liabilities | 10/49 | €227,288 | €355,709 | +€128,421 | +56.5% |
| Equity | 10/15 | €124,992 | €5,000 | -€119,992 | -96.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €119,992 | - | -€119,992 | |
| Distributable reserves | 133 | €119,992 | - | -€119,992 | |
| Amounts payable | 17/49 | €102,296 | €350,709 | +€248,413 | +242.8% |
| Amounts payable after more than one year | 17 | €60,000 | €60,000 | = | 0.0% |
| Financial debts | 170/4 | €60,000 | €60,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €40,356 | €288,993 | +€248,637 | +616.1% |
| Trade debts | 44 | €3,553 | €2,073 | -€1,480 | -41.6% |
| Suppliers | 440/4 | €3,553 | €2,073 | -€1,480 | -41.6% |
| Taxes, remuneration and social security | 45 | €18,843 | €24,568 | +€5,725 | +30.4% |
| Taxes | 450/3 | €18,843 | €24,568 | +€5,725 | +30.4% |
| Other amounts payable | 47/48 | €17,961 | €262,352 | +€244,392 | +1360.7% |
| Accrued charges and deferred income | 492/3 | €1,940 | €1,716 | -€224 | -11.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,756 | €15,369 | +€613 | +4.2% |
| Other operating charges | 640/8 | €579 | €962 | +€383 | +66.2% |
| Gross operating margin | 9900 | €114,654 | €178,022 | +€63,368 | +55.3% |
| Operating profit (loss) | 9901 | €99,320 | €161,692 | +€62,372 | +62.8% |
| Financial income | 75/76B | €0 | €0 | -€0 | -66.7% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -66.7% |
| Financial charges | 65/66B | €2,540 | €2,541 | +€1 | 0.0% |
| Recurring financial charges | 65 | €2,540 | €2,541 | +€1 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €96,780 | €159,151 | +€62,372 | +64.4% |
| Income taxes | 67/77 | €20,263 | €31,212 | +€10,950 | +54.0% |
| Profit (loss) for the period | 9904 | €76,517 | €127,939 | +€51,422 | +67.2% |
| Profit (loss) for the period to be appropriated | 9905 | €76,517 | €127,939 | +€51,422 | +67.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.