MEVA: 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.
MEVA
Largest movements
- Stocks and contracts +€25,394
up €25,394 (+9.6%), from €265,669 to €291,064
- Tangible fixed assets -€7,475
down €7,475 (-5.5%), from €136,541 to €129,066
of which Land and buildings: -€14,159
- Trade debts +€161,988
up €161,988 (+88.9%), from €182,179 to €344,167
- Profit (loss) carried forward -€96,547
down €96,547 (-19.0%), from -€508,880 to -€605,427
- Debts after one year -€39,469
down €39,469 (-13.0%), from €303,008 to €263,539
of which Other amounts payable: -€26,321
- Financial charges +€5,529
up €5,529 (+18.9%), from €29,273 to €34,802
- Staff costs +€5,179
up €5,179 (+2.1%), from €252,229 to €257,408
- Gross operating margin -€4,864
down €4,864 (-2.1%), from €231,336 to €226,472
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 | €454,920 | €474,676 | +€19,756 | +4.3% |
| Fixed assets | 21/28 | €137,171 | €129,696 | -€7,475 | -5.4% |
| Tangible fixed assets | 22/27 | €136,541 | €129,066 | -€7,475 | -5.5% |
| Land and buildings | 22 | €113,732 | €99,573 | -€14,159 | -12.4% |
| Plant, machinery and equipment | 23 | €22,809 | €29,493 | +€6,684 | +29.3% |
| Financial fixed assets | 28 | €630 | €630 | = | 0.0% |
| Current assets | 29/58 | €317,749 | €344,980 | +€27,231 | +8.6% |
| Stocks and contracts in progress | 3 | €265,669 | €291,064 | +€25,394 | +9.6% |
| Stocks | 30/36 | €265,669 | €291,064 | +€25,394 | +9.6% |
| Amounts receivable within one year | 40/41 | €42,303 | €43,994 | +€1,691 | +4.0% |
| Trade receivables | 40 | €41,249 | €42,283 | +€1,035 | +2.5% |
| Other amounts receivable | 41 | €1,054 | €1,710 | +€656 | +62.2% |
| Cash at bank and in hand | 54/58 | €5,984 | €7,042 | +€1,058 | +17.7% |
| Deferred charges and accrued income | 490/1 | €3,793 | €2,881 | -€912 | -24.0% |
| Total equity and liabilities | 10/49 | €454,920 | €474,676 | +€19,756 | +4.3% |
| Equity | 10/15 | -€151,353 | -€247,900 | -€96,547 | -63.8% |
| Contributions | 10/11 | €231,000 | €231,000 | = | 0.0% |
| Capital | 10 | €231,000 | €231,000 | = | 0.0% |
| Issued capital | 100 | €231,000 | €231,000 | = | 0.0% |
| Reserves | 13 | €126,527 | €126,527 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Legal reserve | 130 | €3,099 | €3,099 | = | 0.0% |
| Distributable reserves | 133 | €123,429 | €123,429 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€508,880 | -€605,427 | -€96,547 | -19.0% |
| Amounts payable | 17/49 | €606,273 | €722,576 | +€116,303 | +19.2% |
| Amounts payable after more than one year | 17 | €303,008 | €263,539 | -€39,469 | -13.0% |
| Trade debts | 175 | €268,008 | €254,860 | -€13,147 | -4.9% |
| Other amounts payable | 178/9 | €35,000 | €8,679 | -€26,321 | -75.2% |
| Amounts payable within one year | 42/48 | €301,615 | €457,479 | +€155,864 | +51.7% |
| Financial debts | 43 | €68,943 | €66,109 | -€2,835 | -4.1% |
| Credit institutions | 430/8 | €68,943 | €66,109 | -€2,835 | -4.1% |
| Trade debts | 44 | €182,179 | €344,167 | +€161,988 | +88.9% |
| Suppliers | 440/4 | €182,179 | €344,167 | +€161,988 | +88.9% |
| Taxes, remuneration and social security | 45 | €48,059 | €46,121 | -€1,938 | -4.0% |
| Taxes | 450/3 | €1,713 | €1,173 | -€540 | -31.5% |
| Remuneration and social security | 454/9 | €46,346 | €44,948 | -€1,399 | -3.0% |
| Other amounts payable | 47/48 | €2,433 | €1,082 | -€1,350 | -55.5% |
| Accrued charges and deferred income | 492/3 | €1,651 | €1,558 | -€93 | -5.6% |
| Remuneration, social security and pensions | 62 | €252,229 | €257,408 | +€5,179 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,383 | €19,170 | +€787 | +4.3% |
| Other operating charges | 640/8 | €10,888 | €11,280 | +€392 | +3.6% |
| Gross operating margin | 9900 | €231,336 | €226,472 | -€4,864 | -2.1% |
| Operating profit (loss) | 9901 | -€50,164 | -€61,386 | -€11,222 | -22.4% |
| Financial charges | 65/66B | €29,273 | €34,802 | +€5,529 | +18.9% |
| Recurring financial charges | 65 | €29,273 | €34,802 | +€5,529 | +18.9% |
| Profit (loss) for the period before taxes | 9903 | -€79,438 | -€96,188 | -€16,751 | -21.1% |
| Income taxes | 67/77 | €351 | €358 | +€7 | +2.0% |
| Profit (loss) for the period | 9904 | -€79,789 | -€96,547 | -€16,758 | -21.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€79,789 | -€96,547 | -€16,758 | -21.0% |
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.