MESTIC: what changed
What changed
MESTIC
NACE 47.241, Retail sale of bread and pastry (bakery outlets)
filed annual accounts (NBB)
Net result for the year
€45,536
2024 · €57,642-€12,107
Equity
€273,764
2024 · €236,630+€37,134
Cash
€307,837
2024 · €205,998+€101,839
Balance sheet total
€875,178
2024 · €786,033+€89,145
Largest movements
Assets
- Cash +€101,839
up €101,839 (+49.4%), from €205,998 to €307,837
mainly Depreciation (+€104,743) and Net result for the year (+€45,536)
- Tangible fixed assets -€63,068
down €63,068 (-12.6%), from €501,278 to €438,209
of which Land and buildings: -€36,800
- Receivables within one year +€52,621
up €52,621 (+207%), from €25,482 to €78,103
of which Trade receivables: +€40,985
Equity and liabilities
- Debts after one year -€56,902
down €56,902 (-21.4%), from €266,180 to €209,278
- Profit (loss) carried forward +€45,536
up €45,536 (+80.0%), from €56,942 to €102,478
- Tax, wage and social debts +€35,280
up €35,280 (+25.0%), from €141,230 to €176,510
of which Remuneration and social security: +€29,199
- Trade debts +€35,000
up €35,000 (+111%), from €31,492 to €66,491
- Other debts +€20,548
up €20,548 (+32.5%), from €63,202 to €83,750
Income statement
- Staff costs +€98,471
up €98,471 (+14.6%), from €673,648 to €772,118
- Gross operating margin +€91,833
up €91,833 (+10.6%), from €870,455 to €962,288
- Depreciation +€13,759
up €13,759 (+15.1%), from €90,984 to €104,743
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
€57,642
Gross operating margin
+€91,833
Staff costs
-€98,471
Depreciation
-€13,759
Other operating charges
+€2,488
Financial income
-€1,283
Financial charges
-€950
Taxes
+€8,034
Result 2025
€45,536
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
+€189,669
Investment
-€41,674
Financing
-€46,156
Cash 2024
€205,998
From operations (derived)
+€189,669
Net result for the year
+€45,536
Depreciation
+€104,743
Stocks and contracts
+€2,808
Receivables within one year
-€52,621
Deferred charges and accrued income
-€561
Trade debts
+€35,000
Tax, wage and social debts
+€35,280
Other debts
+€20,548
Accrued charges and deferred income
-€1,063
Investment (derived)
-€41,674
Investment in fixed assets (net)
-€41,674
Financing
-€46,156
Debts after one year
-€56,902
Current portion of long-term debt
+€19,148
Contributions, distributions and other
-€8,402
Cash 2025
€307,837
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €786,033 | €875,178 | +€89,145 | +11.3% |
| Fixed assets | 21/28 | €505,778 | €442,709 | -€63,068 | -12.5% |
| Tangible fixed assets | 22/27 | €501,278 | €438,209 | -€63,068 | -12.6% |
| Land and buildings | 22 | €103,542 | €66,743 | -€36,800 | -35.5% |
| Plant, machinery and equipment | 23 | €183,914 | €149,766 | -€34,148 | -18.6% |
| Furniture and vehicles | 24 | €8,163 | €35,592 | +€27,429 | +336% |
| Other tangible fixed assets | 26 | €205,658 | €186,109 | -€19,549 | -9.5% |
| Financial fixed assets | 28 | €4,500 | €4,500 | = | 0.0% |
| Current assets | 29/58 | €280,256 | €432,469 | +€152,214 | +54.3% |
| Stocks and contracts in progress | 3 | €43,280 | €40,473 | -€2,808 | -6.5% |
| Stocks | 30/36 | €43,280 | €40,473 | -€2,808 | -6.5% |
| Amounts receivable within one year | 40/41 | €25,482 | €78,103 | +€52,621 | +207% |
| Trade receivables | 40 | €18,831 | €59,817 | +€40,985 | +218% |
| Other amounts receivable | 41 | €6,650 | €18,286 | +€11,636 | +175% |
| Cash at bank and in hand | 54/58 | €205,998 | €307,837 | +€101,839 | +49.4% |
| Deferred charges and accrued income | 490/1 | €5,496 | €6,057 | +€561 | +10.2% |
| Total equity and liabilities | 10/49 | €786,033 | €875,178 | +€89,145 | +11.3% |
| Equity | 10/15 | €236,630 | €273,764 | +€37,134 | +15.7% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €161,139 | €152,737 | -€8,402 | -5.2% |
| Non-distributable reserves | 130/1 | €1,165 | €1,165 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,165 | €1,165 | = | 0.0% |
| Distributable reserves | 133 | €159,974 | €151,572 | -€8,402 | -5.3% |
| Profit (loss) carried forward | 14 | €56,942 | €102,478 | +€45,536 | +80.0% |
| Amounts payable | 17/49 | €549,403 | €601,414 | +€52,011 | +9.5% |
| Amounts payable after more than one year | 17 | €266,180 | €209,278 | -€56,902 | -21.4% |
| Financial debts | 170/4 | €266,180 | €209,278 | -€56,902 | -21.4% |
| Amounts payable within one year | 42/48 | €282,160 | €392,136 | +€109,976 | +39.0% |
| Current portion of amounts payable after more than one year | 42 | €33,675 | €52,823 | +€19,148 | +56.9% |
| Financial debts | 43 | €12,562 | €12,562 | = | 0.0% |
| Credit institutions | 430/8 | €12,562 | €12,562 | = | 0.0% |
| Trade debts | 44 | €31,492 | €66,491 | +€35,000 | +111% |
| Suppliers | 440/4 | €31,492 | €66,491 | +€35,000 | +111% |
| Taxes, remuneration and social security | 45 | €141,230 | €176,510 | +€35,280 | +25.0% |
| Taxes | 450/3 | €34,093 | €40,173 | +€6,080 | +17.8% |
| Remuneration and social security | 454/9 | €107,138 | €136,337 | +€29,199 | +27.3% |
| Other amounts payable | 47/48 | €63,202 | €83,750 | +€20,548 | +32.5% |
| Accrued charges and deferred income | 492/3 | €1,063 | - | -€1,063 | |
| Remuneration, social security and pensions | 62 | €673,648 | €772,118 | +€98,471 | +14.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90,984 | €104,743 | +€13,759 | +15.1% |
| Other operating charges | 640/8 | €11,898 | €9,410 | -€2,488 | -20.9% |
| Gross operating margin | 9900 | €870,455 | €962,288 | +€91,833 | +10.6% |
| Operating profit (loss) | 9901 | €93,925 | €76,017 | -€17,908 | -19.1% |
| Financial income | 75/76B | €2,055 | €772 | -€1,283 | -62.4% |
| Recurring financial income | 75 | €2,055 | €772 | -€1,283 | -62.4% |
| Financial charges | 65/66B | €15,979 | €16,929 | +€950 | +5.9% |
| Recurring financial charges | 65 | €15,979 | €16,929 | +€950 | +5.9% |
| Profit (loss) for the period before taxes | 9903 | €80,001 | €59,860 | -€20,141 | -25.2% |
| Income taxes | 67/77 | €22,359 | €14,324 | -€8,034 | -35.9% |
| Profit (loss) for the period | 9904 | €57,642 | €45,536 | -€12,107 | -21.0% |
| Profit (loss) for the period to be appropriated | 9905 | €57,642 | €45,536 | -€12,107 | -21.0% |
Next steps
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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 4 November 2026 via checked.be.