MEVAH: what changed
Two financial 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.
MEVAH
Largest movements
- Cash +€388,992
up €388,992 (+266%), from €146,256 to €535,248
mainly Receivables within one year (+€341,559) and Depreciation (+€45,463)
- Receivables within one year -€341,559
down €341,559 (-90.7%), from €376,510 to €34,951
- Tangible fixed assets -€45,463
down €45,463 (-8.1%), from €560,321 to €514,858
of which Land and buildings: -€33,682
- Reserves +€19,637
up €19,637 (+2.2%), from €875,085 to €894,722
of which Distributable reserves: +€31,700
- Gross operating margin -€141,107
down €141,107 (-64.1%), from €220,235 to €79,127
- Taxes -€46,878
down €46,878 (-77.4%), from €60,584 to €13,707
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.
Derived cash bridge
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 | €1,085,632 | €1,088,815 | +€3,183 | +0.3% |
| Fixed assets | 21/28 | €560,321 | €514,858 | -€45,463 | -8.1% |
| Tangible fixed assets | 22/27 | €560,321 | €514,858 | -€45,463 | -8.1% |
| Land and buildings | 22 | €543,632 | €509,949 | -€33,682 | -6.2% |
| Furniture and vehicles | 24 | €16,689 | €4,909 | -€11,781 | -70.6% |
| Current assets | 29/58 | €525,311 | €573,957 | +€48,646 | +9.3% |
| Amounts receivable within one year | 40/41 | €376,510 | €34,951 | -€341,559 | -90.7% |
| Other amounts receivable | 41 | €376,510 | €34,951 | -€341,559 | -90.7% |
| Cash at bank and in hand | 54/58 | €146,256 | €535,248 | +€388,992 | +266% |
| Deferred charges and accrued income | 490/1 | €2,546 | €3,758 | +€1,212 | +47.6% |
| Total equity and liabilities | 10/49 | €1,085,632 | €1,088,815 | +€3,183 | +0.3% |
| Equity | 10/15 | €897,270 | €917,007 | +€19,738 | +2.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €875,085 | €894,722 | +€19,637 | +2.2% |
| Non-distributable reserves | 130/1 | €4,870 | €4,870 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,870 | €4,870 | = | 0.0% |
| Tax-exempt reserves | 132 | €213,815 | €201,752 | -€12,063 | -5.6% |
| Distributable reserves | 133 | €656,400 | €688,100 | +€31,700 | +4.8% |
| Profit (loss) carried forward | 14 | €2,184 | €2,285 | +€101 | +4.6% |
| Provisions and deferred taxes | 16 | €110,083 | €103,872 | -€6,211 | -5.6% |
| Deferred taxes | 168 | €110,083 | €103,872 | -€6,211 | -5.6% |
| Amounts payable | 17/49 | €78,280 | €67,936 | -€10,344 | -13.2% |
| Amounts payable within one year | 42/48 | €77,680 | €67,936 | -€9,744 | -12.5% |
| Trade debts | 44 | €3,197 | €5,291 | +€2,094 | +65.5% |
| Suppliers | 440/4 | €3,197 | €5,291 | +€2,094 | +65.5% |
| Taxes, remuneration and social security | 45 | €64,357 | €60,644 | -€3,712 | -5.8% |
| Taxes | 450/3 | €64,357 | €60,644 | -€3,712 | -5.8% |
| Other amounts payable | 47/48 | €10,126 | €2,000 | -€8,126 | -80.2% |
| Accrued charges and deferred income | 492/3 | €600 | - | -€600 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,280 | €45,463 | -€817 | -1.8% |
| Other operating charges | 640/8 | €5,371 | €5,515 | +€144 | +2.7% |
| Non-recurring operating charges | 66A | €306 | - | -€306 | |
| Gross operating margin | 9900 | €220,235 | €79,127 | -€141,107 | -64.1% |
| Operating profit (loss) | 9901 | €168,277 | €28,149 | -€140,128 | -83.3% |
| Financial income | 75/76B | €1,079 | €1,267 | +€188 | +17.5% |
| Recurring financial income | 75 | €1,079 | €1,267 | +€188 | +17.5% |
| Financial charges | 65/66B | €104 | €183 | +€79 | +75.5% |
| Recurring financial charges | 65 | €104 | €183 | +€79 | +75.5% |
| Profit (loss) for the period before taxes | 9903 | €169,252 | €29,233 | -€140,018 | -82.7% |
| Transfer from deferred taxes | 780 | €6,536 | €6,211 | -€325 | -5.0% |
| Income taxes | 67/77 | €60,584 | €13,707 | -€46,878 | -77.4% |
| Profit (loss) for the period | 9904 | €115,204 | €21,738 | -€93,466 | -81.1% |
| Transfer from tax-exempt reserves | 789 | €12,687 | €12,063 | -€624 | -4.9% |
| Profit (loss) for the period to be appropriated | 9905 | €127,891 | €33,801 | -€94,090 | -73.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.