MESTDAGH WIM: what changed
MESTDAGH WIM
Largest movements
- Current investments +€622,181
up €622,181 (+113%), from €549,899 to €1.2m
- Cash -€68,202
down €68,202 (-3.6%), from €1.9m to €1.8m
mainly Current investments (-€622,181) and Contributions, distributions and other (-€118,727)
- Receivables within one year -€49,200
down €49,200 (-20.2%), from €243,761 to €194,561
of which Trade receivables: -€62,746
- Reserves +€419,490
up €419,490 (+16.1%), from €2.6m to €3.0m
of which Tax-exempt reserves: +€315,750
- Other debts +€133,159
up €133,159 (+91.2%), from €146,071 to €279,230
- Tax, wage and social debts -€47,007
down €47,007 (-44.0%), from €106,876 to €59,869
- Gross operating margin -€206,826
down €206,826 (-20.2%), from €1.0m to €815,047
- Taxes -€118,036
down €118,036 (-38.7%), from €304,792 to €186,757
- Financial charges +€78,202
up €78,202 (+749%), from €10,440 to €88,642
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 | €2,883,008 | €3,395,622 | +€512,614 | +17.8% |
| Fixed assets | 21/28 | €175,049 | €159,169 | -€15,880 | -9.1% |
| Tangible fixed assets | 22/27 | €175,049 | €159,169 | -€15,880 | -9.1% |
| Land and buildings | 22 | €106,316 | €101,417 | -€4,899 | -4.6% |
| Plant, machinery and equipment | 23 | €15,523 | €12,942 | -€2,581 | -16.6% |
| Furniture and vehicles | 24 | €53,210 | €44,811 | -€8,400 | -15.8% |
| Current assets | 29/58 | €2,707,958 | €3,236,453 | +€528,495 | +19.5% |
| Amounts receivable within one year | 40/41 | €243,761 | €194,561 | -€49,200 | -20.2% |
| Trade receivables | 40 | €214,669 | €151,923 | -€62,746 | -29.2% |
| Other amounts receivable | 41 | €29,093 | €42,638 | +€13,545 | +46.6% |
| Current investments | 50/53 | €549,899 | €1,172,080 | +€622,181 | +113% |
| Cash at bank and in hand | 54/58 | €1,912,514 | €1,844,312 | -€68,202 | -3.6% |
| Deferred charges and accrued income | 490/1 | €1,784 | €25,500 | +€23,716 | +1,329% |
| Total equity and liabilities | 10/49 | €2,883,008 | €3,395,622 | +€512,614 | +17.8% |
| Equity | 10/15 | €2,619,178 | €3,038,668 | +€419,490 | +16.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €2,606,778 | €3,026,268 | +€419,490 | +16.1% |
| Tax-exempt reserves | 132 | €229,250 | €545,000 | +€315,750 | +138% |
| Distributable reserves | 133 | €2,377,528 | €2,481,268 | +€103,740 | +4.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €263,830 | €356,954 | +€93,125 | +35.3% |
| Amounts payable within one year | 42/48 | €263,830 | €356,954 | +€93,125 | +35.3% |
| Trade debts | 44 | €10,883 | €17,855 | +€6,972 | +64.1% |
| Suppliers | 440/4 | €10,883 | €17,855 | +€6,972 | +64.1% |
| Taxes, remuneration and social security | 45 | €106,876 | €59,869 | -€47,007 | -44.0% |
| Taxes | 450/3 | €106,876 | €59,869 | -€47,007 | -44.0% |
| Other amounts payable | 47/48 | €146,071 | €279,230 | +€133,159 | +91.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €4,621 | €0 | -€4,621 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,055 | €29,280 | +€3,225 | +12.4% |
| Other operating charges | 640/8 | €2,806 | €2,849 | +€43 | +1.5% |
| Gross operating margin | 9900 | €1,021,873 | €815,047 | -€206,826 | -20.2% |
| Operating profit (loss) | 9901 | €993,012 | €782,917 | -€210,094 | -21.2% |
| Financial income | 75/76B | €29,473 | €30,698 | +€1,225 | +4.2% |
| Recurring financial income | 75 | €29,473 | €30,698 | +€1,225 | +4.2% |
| Financial charges | 65/66B | €10,440 | €88,642 | +€78,202 | +749% |
| Recurring financial charges | 65 | €10,440 | €88,642 | +€78,202 | +749% |
| Profit (loss) for the period before taxes | 9903 | €1,012,045 | €724,973 | -€287,071 | -28.4% |
| Income taxes | 67/77 | €304,792 | €186,757 | -€118,036 | -38.7% |
| Profit (loss) for the period | 9904 | €707,252 | €538,217 | -€169,036 | -23.9% |
| Transfer to tax-exempt reserves | 689 | €210,500 | €315,750 | +€105,250 | +50.0% |
| Profit (loss) for the period to be appropriated | 9905 | €496,752 | €222,467 | -€274,286 | -55.2% |
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 2 November 2026 via checked.be.