MEVAKO: 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.
MEVAKO
Largest movements
- Current investments +€216,071
up €216,071 (+8.8%), from €2.5m to €2.7m
- Cash -€132,691
down €132,691 (-45.4%), from €292,396 to €159,704
mainly Current investments (-€216,071) and Trade debts (-€200,312)
- Tangible fixed assets -€37,932
down €37,932 (-40.2%), from €94,367 to €56,435
of which Furniture and vehicles: -€28,637
- Trade debts -€200,312
down €200,312 (-60.0%), from €334,123 to €133,812
- Reserves +€198,054
up €198,054 (+8.2%), from €2.4m to €2.6m
of which Distributable reserves: +€198,054
- Other debts +€36,423
up €36,423 (+41.2%), from €88,417 to €124,839
- Taxes -€91,528
down €91,528 (-52.5%), from €174,178 to €82,650
- Financial income +€54,547
up €54,547 (+103.0%), from €52,946 to €107,494
- Gross operating margin -€36,811
down €36,811 (-11.1%), from €330,817 to €294,006
- Staff costs +€7,653
up €7,653 (+14.8%), from €51,608 to €59,260
- Other operating charges +€3,846
up €3,846 (+45.7%), from €8,426 to €12,272
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 | €3,199,457 | €3,220,082 | +€20,625 | +0.6% |
| Fixed assets | 21/28 | €94,637 | €56,705 | -€37,932 | -40.1% |
| Tangible fixed assets | 22/27 | €94,367 | €56,435 | -€37,932 | -40.2% |
| Plant, machinery and equipment | 23 | €3,353 | €2,250 | -€1,104 | -32.9% |
| Furniture and vehicles | 24 | €77,784 | €49,147 | -€28,637 | -36.8% |
| Other tangible fixed assets | 26 | €13,229 | €5,038 | -€8,191 | -61.9% |
| Financial fixed assets | 28 | €270 | €270 | = | 0.0% |
| Current assets | 29/58 | €3,104,820 | €3,163,377 | +€58,557 | +1.9% |
| Stocks and contracts in progress | 3 | €27,485 | €23,485 | -€4,000 | -14.6% |
| Stocks | 30/36 | €27,485 | €23,485 | -€4,000 | -14.6% |
| Amounts receivable within one year | 40/41 | €325,765 | €300,777 | -€24,988 | -7.7% |
| Trade receivables | 40 | €319,363 | €293,037 | -€26,327 | -8.2% |
| Other amounts receivable | 41 | €6,402 | €7,740 | +€1,338 | +20.9% |
| Current investments | 50/53 | €2,452,038 | €2,668,108 | +€216,071 | +8.8% |
| Cash at bank and in hand | 54/58 | €292,396 | €159,704 | -€132,691 | -45.4% |
| Deferred charges and accrued income | 490/1 | €7,136 | €11,302 | +€4,166 | +58.4% |
| Total equity and liabilities | 10/49 | €3,199,457 | €3,220,082 | +€20,625 | +0.6% |
| Equity | 10/15 | €2,743,621 | €2,941,675 | +€198,054 | +7.2% |
| Contributions | 10/11 | €322,000 | €322,000 | = | 0.0% |
| Capital | 10 | €322,000 | €322,000 | = | 0.0% |
| Issued capital | 100 | €322,000 | €322,000 | = | 0.0% |
| Reserves | 13 | €2,421,543 | €2,619,597 | +€198,054 | +8.2% |
| Non-distributable reserves | 130/1 | €32,200 | €32,200 | = | 0.0% |
| Legal reserve | 130 | €32,200 | €32,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €323,653 | €323,653 | = | 0.0% |
| Distributable reserves | 133 | €2,065,689 | €2,263,743 | +€198,054 | +9.6% |
| Profit (loss) carried forward | 14 | €78 | €78 | +€0 | +0.4% |
| Provisions and deferred taxes | 16 | €9,958 | €9,958 | = | 0.0% |
| Deferred taxes | 168 | €9,958 | €9,958 | = | 0.0% |
| Amounts payable | 17/49 | €445,878 | €268,449 | -€177,429 | -39.8% |
| Amounts payable within one year | 42/48 | €444,209 | €268,449 | -€175,760 | -39.6% |
| Trade debts | 44 | €334,123 | €133,812 | -€200,312 | -60.0% |
| Suppliers | 440/4 | €334,123 | €133,812 | -€200,312 | -60.0% |
| Taxes, remuneration and social security | 45 | €21,669 | €9,797 | -€11,871 | -54.8% |
| Taxes | 450/3 | €12,175 | €719 | -€11,456 | -94.1% |
| Remuneration and social security | 454/9 | €9,494 | €9,078 | -€415 | -4.4% |
| Other amounts payable | 47/48 | €88,417 | €124,839 | +€36,423 | +41.2% |
| Accrued charges and deferred income | 492/3 | €1,669 | €0 | -€1,669 | -100.0% |
| Non-recurring operating income | 76A | €18,595 | €15,000 | -€3,595 | -19.3% |
| Remuneration, social security and pensions | 62 | €51,608 | €59,260 | +€7,653 | +14.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,347 | €39,429 | +€2,083 | +5.6% |
| Other operating charges | 640/8 | €8,426 | €12,272 | +€3,846 | +45.7% |
| Gross operating margin | 9900 | €330,817 | €294,006 | -€36,811 | -11.1% |
| Operating profit (loss) | 9901 | €233,438 | €183,045 | -€50,393 | -21.6% |
| Financial income | 75/76B | €52,946 | €107,494 | +€54,547 | +103.0% |
| Recurring financial income | 75 | €52,946 | €107,494 | +€54,547 | +103.0% |
| Financial charges | 65/66B | €10,743 | €9,834 | -€909 | -8.5% |
| Recurring financial charges | 65 | €10,743 | €9,834 | -€909 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | €275,641 | €280,704 | +€5,064 | +1.8% |
| Income taxes | 67/77 | €174,178 | €82,650 | -€91,528 | -52.5% |
| Profit (loss) for the period | 9904 | €101,462 | €198,054 | +€96,592 | +95.2% |
| Transfer from tax-exempt reserves | 789 | €275,000 | €0 | -€275,000 | -100.0% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €376,462 | €198,054 | -€178,408 | -47.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.