Mestdagh Projects: what changed
What changed
Mestdagh Projects
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€77,374
2024 · €27,519+€49,856
Equity
€177,176
2024 · €99,801+€77,374
Cash
€182,639
2024 · €43,942+€138,697
Balance sheet total
€222,250
2024 · €147,845+€74,405
Largest movements
Assets
- Cash +€138,697
up €138,697 (+316%), from €43,942 to €182,639
mainly Net result for the year (+€77,374) and Current investments (+€50,000)
- Current investments -€50,000
down €50,000 (-100%), from €50,000 to €0
- Tangible fixed assets -€11,691
down €11,691 (-31.7%), from €36,898 to €25,207
- Deferred charges and accrued income -€2,353
down €2,353 (-79.4%), from €2,963 to €610
Equity and liabilities
- Reserves +€77,374
up €77,374 (+79.9%), from €96,801 to €174,176
- Debts after one year -€13,899
down €13,899 (-85.4%), from €16,267 to €2,368
- Tax, wage and social debts +€12,266
up €12,266 (+83.8%), from €14,633 to €26,898
- Trade debts -€2,875
down €2,875 (-98.2%), from €2,929 to €54
Income statement
- Gross operating margin +€61,970
up €61,970 (+129%), from €48,177 to €110,147
- Taxes +€12,769
up €12,769 (+171%), from €7,462 to €20,231
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.
Result 2024
€27,519
Gross operating margin
+€61,970
Depreciation
-€0
Other operating charges
-€142
Financial income
+€368
Financial charges
+€429
Taxes
-€12,769
Result 2025
€77,374
raises the resultlowers the result
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.
From operations
+€102,078
Investment
+€50,000
Financing
-€13,381
Cash 2024
€43,942
From operations (derived)
+€102,078
Net result for the year
+€77,374
Depreciation
+€11,691
Receivables within one year
+€248
Deferred charges and accrued income
+€2,353
Trade debts
-€2,875
Tax, wage and social debts
+€12,266
Other debts
-€478
Accrued charges and deferred income
+€1,500
Investment (derived)
+€50,000
Current investments
+€50,000
Financing
-€13,381
Debts after one year
-€13,899
Current portion of long-term debt
+€518
Cash 2025
€182,639
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €147,845 | €222,250 | +€74,405 | +50.3% |
| Fixed assets | 21/28 | €36,898 | €25,207 | -€11,691 | -31.7% |
| Tangible fixed assets | 22/27 | €36,898 | €25,207 | -€11,691 | -31.7% |
| Furniture and vehicles | 24 | €36,898 | €25,207 | -€11,691 | -31.7% |
| Current assets | 29/58 | €110,947 | €197,043 | +€86,096 | +77.6% |
| Amounts receivable within one year | 40/41 | €14,042 | €13,794 | -€248 | -1.8% |
| Trade receivables | 40 | €13,794 | €13,794 | = | 0.0% |
| Other amounts receivable | 41 | €248 | €0 | -€248 | -100% |
| Current investments | 50/53 | €50,000 | €0 | -€50,000 | -100% |
| Cash at bank and in hand | 54/58 | €43,942 | €182,639 | +€138,697 | +316% |
| Deferred charges and accrued income | 490/1 | €2,963 | €610 | -€2,353 | -79.4% |
| Total equity and liabilities | 10/49 | €147,845 | €222,250 | +€74,405 | +50.3% |
| Equity | 10/15 | €99,801 | €177,176 | +€77,374 | +77.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €96,801 | €174,176 | +€77,374 | +79.9% |
| Distributable reserves | 133 | €96,801 | €174,176 | +€77,374 | +79.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €48,043 | €45,075 | -€2,969 | -6.2% |
| Amounts payable after more than one year | 17 | €16,267 | €2,368 | -€13,899 | -85.4% |
| Financial debts | 170/4 | €16,267 | €2,368 | -€13,899 | -85.4% |
| Amounts payable within one year | 42/48 | €31,776 | €41,206 | +€9,430 | +29.7% |
| Current portion of amounts payable after more than one year | 42 | €13,381 | €13,899 | +€518 | +3.9% |
| Trade debts | 44 | €2,929 | €54 | -€2,875 | -98.2% |
| Suppliers | 440/4 | €2,929 | €54 | -€2,875 | -98.2% |
| Taxes, remuneration and social security | 45 | €14,633 | €26,898 | +€12,266 | +83.8% |
| Taxes | 450/3 | €14,633 | €26,898 | +€12,266 | +83.8% |
| Other amounts payable | 47/48 | €833 | €355 | -€478 | -57.4% |
| Accrued charges and deferred income | 492/3 | - | €1,500 | +€1,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,691 | €11,691 | +€0 | 0.0% |
| Other operating charges | 640/8 | €448 | €590 | +€142 | +31.7% |
| Gross operating margin | 9900 | €48,177 | €110,147 | +€61,970 | +129% |
| Operating profit (loss) | 9901 | €36,038 | €97,866 | +€61,828 | +172% |
| Financial income | 75/76B | €464 | €832 | +€368 | +79.2% |
| Recurring financial income | 75 | €464 | €832 | +€368 | +79.2% |
| Financial charges | 65/66B | €1,522 | €1,093 | -€429 | -28.2% |
| Recurring financial charges | 65 | €1,522 | €1,093 | -€429 | -28.2% |
| Profit (loss) for the period before taxes | 9903 | €34,981 | €97,605 | +€62,625 | +179% |
| Income taxes | 67/77 | €7,462 | €20,231 | +€12,769 | +171% |
| Profit (loss) for the period | 9904 | €27,519 | €77,374 | +€49,856 | +181% |
| Profit (loss) for the period to be appropriated | 9905 | €27,519 | €77,374 | +€49,856 | +181% |
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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 6 November 2026 via checked.be.