MEVAR: 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.
MEVAR
Largest movements
- Stocks and contracts -€148,431
down €148,431 (-52.3%), from €283,938 to €135,506
- Tangible fixed assets -€89,557
down €89,557 (-16.1%), from €556,490 to €466,933
of which Land and buildings: -€65,046
- Cash +€23,215
up €23,215 (+37.7%), from €61,590 to €84,805
mainly Stocks and contracts (+€148,431) and Depreciation (+€110,571)
- Trade debts -€148,472
down €148,472 (-59.4%), from €249,877 to €101,405
- Profit (loss) carried forward -€33,010
down €33,010 (-7.9%), from -€418,138 to -€451,148
- Debts after one year -€19,542
down €19,542 (-2.5%), from €777,116 to €757,574
- Reserves -€10,278
down €10,278 (-8.4%), from €122,130 to €111,851
of which Tax-exempt reserves: -€10,278
- Gross operating margin +€45,688
up €45,688 (+139%), from €32,877 to €78,566
- Depreciation +€3,263
up €3,263 (+3.0%), from €107,308 to €110,571
- Financial income +€1,360
up €1,360 (+115%), from €1,180 to €2,540
- Financial charges +€1,189
up €1,189 (+8.8%), from €13,484 to €14,672
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 | €968,879 | €755,628 | -€213,251 | -22.0% |
| Fixed assets | 21/28 | €556,490 | €466,933 | -€89,557 | -16.1% |
| Tangible fixed assets | 22/27 | €556,490 | €466,933 | -€89,557 | -16.1% |
| Land and buildings | 22 | €406,038 | €340,993 | -€65,046 | -16.0% |
| Plant, machinery and equipment | 23 | €70,490 | €63,007 | -€7,483 | -10.6% |
| Leasing and similar rights | 25 | €79,962 | €62,934 | -€17,028 | -21.3% |
| Current assets | 29/58 | €412,389 | €288,695 | -€123,694 | -30.0% |
| Stocks and contracts in progress | 3 | €283,938 | €135,506 | -€148,431 | -52.3% |
| Stocks | 30/36 | €283,938 | €135,506 | -€148,431 | -52.3% |
| Amounts receivable within one year | 40/41 | €62,933 | €62,286 | -€647 | -1.0% |
| Trade receivables | 40 | €49,470 | €59,467 | +€9,997 | +20.2% |
| Other amounts receivable | 41 | €13,463 | €2,819 | -€10,644 | -79.1% |
| Cash at bank and in hand | 54/58 | €61,590 | €84,805 | +€23,215 | +37.7% |
| Deferred charges and accrued income | 490/1 | €3,929 | €6,098 | +€2,169 | +55.2% |
| Total equity and liabilities | 10/49 | €968,879 | €755,628 | -€213,251 | -22.0% |
| Equity | 10/15 | -€115,009 | -€158,297 | -€43,288 | -37.6% |
| Contributions | 10/11 | €181,000 | €181,000 | = | 0.0% |
| Reserves | 13 | €122,130 | €111,851 | -€10,278 | -8.4% |
| Tax-exempt reserves | 132 | €72,660 | €62,382 | -€10,278 | -14.1% |
| Distributable reserves | 133 | €49,470 | €49,470 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€418,138 | -€451,148 | -€33,010 | -7.9% |
| Provisions and deferred taxes | 16 | €24,220 | €20,794 | -€3,426 | -14.1% |
| Deferred taxes | 168 | €24,220 | €20,794 | -€3,426 | -14.1% |
| Amounts payable | 17/49 | €1,059,668 | €893,131 | -€166,537 | -15.7% |
| Amounts payable after more than one year | 17 | €777,116 | €757,574 | -€19,542 | -2.5% |
| Financial debts | 170/4 | €777,116 | €757,574 | -€19,542 | -2.5% |
| Amounts payable within one year | 42/48 | €269,527 | €121,057 | -€148,470 | -55.1% |
| Current portion of amounts payable after more than one year | 42 | €19,540 | €19,542 | +€2 | 0.0% |
| Trade debts | 44 | €249,877 | €101,405 | -€148,472 | -59.4% |
| Suppliers | 440/4 | €249,877 | €101,405 | -€148,472 | -59.4% |
| Other amounts payable | 47/48 | €110 | €110 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €13,025 | €14,500 | +€1,475 | +11.3% |
| Non-recurring operating income | 76A | €3,674 | €83 | -€3,591 | -97.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €107,308 | €110,571 | +€3,263 | +3.0% |
| Other operating charges | 640/8 | €3,128 | €2,577 | -€551 | -17.6% |
| Gross operating margin | 9900 | €32,877 | €78,566 | +€45,688 | +139% |
| Operating profit (loss) | 9901 | -€77,558 | -€34,582 | +€42,976 | +55.4% |
| Financial income | 75/76B | €1,180 | €2,540 | +€1,360 | +115% |
| Recurring financial income | 75 | €1,180 | €2,540 | +€1,360 | +115% |
| Financial charges | 65/66B | €13,484 | €14,672 | +€1,189 | +8.8% |
| Recurring financial charges | 65 | €13,484 | €14,672 | +€1,189 | +8.8% |
| Profit (loss) for the period before taxes | 9903 | -€89,862 | -€46,714 | +€43,148 | +48.0% |
| Transfer from deferred taxes | 780 | €4,663 | €3,426 | -€1,237 | -26.5% |
| Profit (loss) for the period | 9904 | -€85,199 | -€43,288 | +€41,911 | +49.2% |
| Transfer from tax-exempt reserves | 789 | €13,990 | €10,278 | -€3,712 | -26.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€71,209 | -€33,010 | +€38,199 | +53.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.