MESTANOGLU: what changed
Two fiscal 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.
MESTANOGLU
Largest movements
- Receivables within one year +€26,338
up €26,338 (+44.6%), from €59,003 to €85,341
of which Other amounts receivable: +€28,591
- Cash +€21,934
up €21,934 (+124.4%), from €17,629 to €39,564
mainly Net result for the year (+€38,414) and Depreciation (+€25,252)
- Tangible fixed assets -€2,992
down €2,992 (-5.1%), from €58,190 to €55,198
of which Furniture and vehicles: -€7,098
- Reserves +€38,414
up €38,414 (+59.3%), from €64,751 to €103,166
- Tax, wage and social debts +€16,030
up €16,030 (+131.7%), from €12,170 to €28,200
of which Taxes: +€14,622
- Debts after one year -€13,179
down €13,179 (-71.5%), from €18,438 to €5,258
- Other debts +€3,075
up €3,075 (+332.3%), from €925 to €4,000
- Gross operating margin +€54,576
up €54,576 (+75.1%), from €72,667 to €127,243
- Staff costs +€18,607
up €18,607 (+124.5%), from €14,939 to €33,546
- Taxes +€13,880
up €13,880 (+169.8%), from €8,172 to €22,052
- Depreciation +€3,555
up €3,555 (+16.4%), from €21,697 to €25,252
- Other operating charges -€3,139
down €3,139 (-37.1%), from €8,464 to €5,325
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 | €138,356 | €181,940 | +€43,584 | +31.5% |
| Fixed assets | 21/28 | €58,190 | €55,268 | -€2,922 | -5.0% |
| Tangible fixed assets | 22/27 | €58,190 | €55,198 | -€2,992 | -5.1% |
| Plant, machinery and equipment | 23 | €36,508 | €42,983 | +€6,476 | +17.7% |
| Furniture and vehicles | 24 | €13,310 | €6,212 | -€7,098 | -53.3% |
| Other tangible fixed assets | 26 | €8,372 | €6,003 | -€2,369 | -28.3% |
| Financial fixed assets | 28 | - | €70 | +€70 | |
| Current assets | 29/58 | €80,166 | €126,672 | +€46,505 | +58.0% |
| Amounts receivable within one year | 40/41 | €59,003 | €85,341 | +€26,338 | +44.6% |
| Trade receivables | 40 | €2,253 | - | -€2,253 | |
| Other amounts receivable | 41 | €56,750 | €85,341 | +€28,591 | +50.4% |
| Cash at bank and in hand | 54/58 | €17,629 | €39,564 | +€21,934 | +124.4% |
| Deferred charges and accrued income | 490/1 | €3,534 | €1,767 | -€1,767 | -50.0% |
| Total equity and liabilities | 10/49 | €138,356 | €181,940 | +€43,584 | +31.5% |
| Equity | 10/15 | €70,751 | €109,166 | +€38,414 | +54.3% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €64,751 | €103,166 | +€38,414 | +59.3% |
| Distributable reserves | 133 | €64,751 | €103,166 | +€38,414 | +59.3% |
| Amounts payable | 17/49 | €67,605 | €72,774 | +€5,170 | +7.6% |
| Amounts payable after more than one year | 17 | €18,438 | €5,258 | -€13,179 | -71.5% |
| Financial debts | 170/4 | €18,438 | €5,258 | -€13,179 | -71.5% |
| Amounts payable within one year | 42/48 | €49,167 | €67,516 | +€18,349 | +37.3% |
| Current portion of amounts payable after more than one year | 42 | €13,030 | €13,179 | +€149 | +1.1% |
| Trade debts | 44 | €23,042 | €22,137 | -€905 | -3.9% |
| Suppliers | 440/4 | €23,042 | €22,137 | -€905 | -3.9% |
| Taxes, remuneration and social security | 45 | €12,170 | €28,200 | +€16,030 | +131.7% |
| Taxes | 450/3 | €8,238 | €22,860 | +€14,622 | +177.5% |
| Remuneration and social security | 454/9 | €3,932 | €5,340 | +€1,408 | +35.8% |
| Other amounts payable | 47/48 | €925 | €4,000 | +€3,075 | +332.3% |
| Remuneration, social security and pensions | 62 | €14,939 | €33,546 | +€18,607 | +124.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,697 | €25,252 | +€3,555 | +16.4% |
| Other operating charges | 640/8 | €8,464 | €5,325 | -€3,139 | -37.1% |
| Gross operating margin | 9900 | €72,667 | €127,243 | +€54,576 | +75.1% |
| Operating profit (loss) | 9901 | €27,568 | €63,121 | +€35,553 | +129.0% |
| Financial income | 75/76B | €28 | - | -€28 | |
| Recurring financial income | 75 | €28 | - | -€28 | |
| Financial charges | 65/66B | €2,225 | €2,655 | +€430 | +19.3% |
| Recurring financial charges | 65 | €2,225 | €2,655 | +€430 | +19.3% |
| Profit (loss) for the period before taxes | 9903 | €25,371 | €60,466 | +€35,095 | +138.3% |
| Income taxes | 67/77 | €8,172 | €22,052 | +€13,880 | +169.8% |
| Profit (loss) for the period | 9904 | €17,199 | €38,414 | +€21,215 | +123.4% |
| Profit (loss) for the period to be appropriated | 9905 | €17,199 | €38,414 | +€21,215 | +123.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.