MESTRAL: 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.
MESTRAL
Largest movements
- Receivables within one year +€15,757
up €15,757 (+61.4%), from €25,649 to €41,406
of which Trade receivables: +€8,083
- Tangible fixed assets +€14,039
new in 2025: €14,039
- Cash -€986
down €986 (-45.2%), from €2,180 to €1,194
mainly Investment in fixed assets (net) (-€17,549) and Receivables within one year (-€15,757)
- Other debts +€15,863
new in 2025: €15,863
- Profit (loss) carried forward -€12,845
down €12,845, from €1,832 to -€11,013
- Trade debts +€12,292
up €12,292 (+292.4%), from €4,204 to €16,496
- Debts after one year +€11,467
up €11,467, from €0 to €11,467
of which Financial debts: +€11,467
- Current portion of long-term debt +€3,366
new in 2025: €3,366
- Gross operating margin -€150,583
down €150,583, from €142,251 to -€8,332
- Depreciation +€3,510
new in 2025: €3,510
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 | €27,829 | €56,905 | +€29,077 | +104.5% |
| Fixed assets | 21/28 | - | €14,039 | +€14,039 | |
| Tangible fixed assets | 22/27 | - | €14,039 | +€14,039 | |
| Furniture and vehicles | 24 | - | €14,039 | +€14,039 | |
| Current assets | 29/58 | €27,829 | €42,866 | +€15,037 | +54.0% |
| Amounts receivable within one year | 40/41 | €25,649 | €41,406 | +€15,757 | +61.4% |
| Trade receivables | 40 | - | €8,083 | +€8,083 | |
| Other amounts receivable | 41 | €25,649 | €33,322 | +€7,674 | +29.9% |
| Cash at bank and in hand | 54/58 | €2,180 | €1,194 | -€986 | -45.2% |
| Deferred charges and accrued income | 490/1 | - | €266 | +€266 | |
| Total equity and liabilities | 10/49 | €27,829 | €56,905 | +€29,077 | +104.5% |
| Equity | 10/15 | €22,292 | €9,447 | -€12,845 | -57.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,832 | -€11,013 | -€12,845 | |
| Amounts payable | 17/49 | €5,537 | €47,458 | +€41,921 | +757.1% |
| Amounts payable after more than one year | 17 | €0 | €11,467 | +€11,467 | |
| Financial debts | 170/4 | - | €11,467 | +€11,467 | |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €5,537 | €35,725 | +€30,188 | +545.2% |
| Current portion of amounts payable after more than one year | 42 | - | €3,366 | +€3,366 | |
| Trade debts | 44 | €4,204 | €16,496 | +€12,292 | +292.4% |
| Suppliers | 440/4 | €4,204 | €16,496 | +€12,292 | +292.4% |
| Taxes, remuneration and social security | 45 | €1,333 | €0 | -€1,333 | -100.0% |
| Taxes | 450/3 | €1,333 | €0 | -€1,333 | -100.0% |
| Other amounts payable | 47/48 | - | €15,863 | +€15,863 | |
| Accrued charges and deferred income | 492/3 | - | €266 | +€266 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €3,510 | +€3,510 | |
| Other operating charges | 640/8 | €387 | €541 | +€154 | +39.7% |
| Gross operating margin | 9900 | €142,251 | -€8,332 | -€150,583 | |
| Operating profit (loss) | 9901 | €141,864 | -€12,383 | -€154,247 | |
| Financial income | 75/76B | €449 | €1,205 | +€756 | +168.2% |
| Recurring financial income | 75 | €449 | €1,205 | +€756 | +168.2% |
| Financial charges | 65/66B | €295 | €1,667 | +€1,372 | +465.7% |
| Recurring financial charges | 65 | €295 | €1,667 | +€1,372 | +465.7% |
| Profit (loss) for the period before taxes | 9903 | €142,018 | -€12,845 | -€154,863 | |
| Income taxes | 67/77 | €1,333 | €0 | -€1,333 | -100.0% |
| Profit (loss) for the period | 9904 | €140,686 | -€12,845 | -€153,530 | |
| Profit (loss) for the period to be appropriated | 9905 | €140,686 | -€12,845 | -€153,530 |
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 4 October 2026 via checked.be.