MEWODASU: 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.
MEWODASU
Largest movements
- Receivables within one year +€189,212
up €189,212 (+697%), from €27,166 to €216,378
of which Other amounts receivable: +€147,779
- Cash -€120,662
down €120,662 (-62.0%), from €194,661 to €73,999
mainly Receivables within one year (-€189,212) and Contributions, distributions and other (-€55,000)
- Tangible fixed assets -€28,458
down €28,458 (-26.2%), from €108,573 to €80,115
of which Plant, machinery and equipment: -€17,241
- Deferred charges and accrued income -€19,451
down €19,451 (-81.0%), from €24,014 to €4,563
- Stocks and contracts -€7,891
down €7,891 (-36.3%), from €21,755 to €13,864
- Other debts +€55,000
new in 2026: €55,000
- Tax, wage and social debts -€42,841
down €42,841 (-48.1%), from €89,118 to €46,277
of which Taxes: -€37,301
- Trade debts +€40,998
up €40,998 (+190%), from €21,582 to €62,580
- Debts after one year -€38,965
down €38,965 (-59.0%), from €65,994 to €27,029
- Reserves +€20,884
up €20,884 (+16.4%), from €127,453 to €148,337
- Staff costs +€65,779
up €65,779 (+49.7%), from €132,478 to €198,256
- Taxes -€41,668
down €41,668 (-84.3%), from €49,455 to €7,787
- Gross operating margin -€37,340
down €37,340 (-10.4%), from €359,058 to €321,718
- Depreciation -€9,361
down €9,361 (-23.7%), from €39,515 to €30,154
- Financial charges -€3,946
down €3,946 (-46.5%), from €8,479 to €4,533
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €378,266 | €390,443 | +€12,177 | +3.2% |
| Fixed assets | 21/28 | €110,670 | €81,640 | -€29,030 | -26.2% |
| Intangible fixed assets | 21 | €2,097 | €1,524 | -€573 | -27.3% |
| Tangible fixed assets | 22/27 | €108,573 | €80,115 | -€28,458 | -26.2% |
| Plant, machinery and equipment | 23 | €66,075 | €48,835 | -€17,241 | -26.1% |
| Furniture and vehicles | 24 | €38,897 | €28,628 | -€10,269 | -26.4% |
| Other tangible fixed assets | 26 | €3,601 | €2,653 | -€948 | -26.3% |
| Current assets | 29/58 | €267,596 | €308,804 | +€41,208 | +15.4% |
| Stocks and contracts in progress | 3 | €21,755 | €13,864 | -€7,891 | -36.3% |
| Stocks | 30/36 | €21,755 | €13,864 | -€7,891 | -36.3% |
| Amounts receivable within one year | 40/41 | €27,166 | €216,378 | +€189,212 | +697% |
| Trade receivables | 40 | €20,380 | €61,812 | +€41,433 | +203% |
| Other amounts receivable | 41 | €6,786 | €154,566 | +€147,779 | +2,178% |
| Cash at bank and in hand | 54/58 | €194,661 | €73,999 | -€120,662 | -62.0% |
| Deferred charges and accrued income | 490/1 | €24,014 | €4,563 | -€19,451 | -81.0% |
| Total equity and liabilities | 10/49 | €378,266 | €390,443 | +€12,177 | +3.2% |
| Equity | 10/15 | €130,453 | €151,337 | +€20,884 | +16.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €127,453 | €148,337 | +€20,884 | +16.4% |
| Distributable reserves | 133 | €127,453 | €148,337 | +€20,884 | +16.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €247,813 | €239,107 | -€8,706 | -3.5% |
| Amounts payable after more than one year | 17 | €65,994 | €27,029 | -€38,965 | -59.0% |
| Financial debts | 170/4 | €65,994 | €27,029 | -€38,965 | -59.0% |
| Amounts payable within one year | 42/48 | €160,997 | €211,426 | +€50,429 | +31.3% |
| Current portion of amounts payable after more than one year | 42 | €40,167 | €42,129 | +€1,963 | +4.9% |
| Trade debts | 44 | €21,582 | €62,580 | +€40,998 | +190% |
| Suppliers | 440/4 | €21,582 | €62,580 | +€40,998 | +190% |
| Advances received on contracts in progress | 46 | €10,131 | €5,440 | -€4,690 | -46.3% |
| Taxes, remuneration and social security | 45 | €89,118 | €46,277 | -€42,841 | -48.1% |
| Taxes | 450/3 | €63,689 | €26,388 | -€37,301 | -58.6% |
| Remuneration and social security | 454/9 | €25,429 | €19,889 | -€5,540 | -21.8% |
| Other amounts payable | 47/48 | - | €55,000 | +€55,000 | |
| Accrued charges and deferred income | 492/3 | €20,822 | €652 | -€20,170 | -96.9% |
| Remuneration, social security and pensions | 62 | €132,478 | €198,256 | +€65,779 | +49.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,515 | €30,154 | -€9,361 | -23.7% |
| Other operating charges | 640/8 | €1,679 | €5,304 | +€3,625 | +216% |
| Gross operating margin | 9900 | €359,058 | €321,718 | -€37,340 | -10.4% |
| Operating profit (loss) | 9901 | €185,387 | €88,003 | -€97,383 | -52.5% |
| Financial income | 75/76B | €0 | €200 | +€200 | +333,567% |
| Recurring financial income | 75 | €0 | €200 | +€200 | +333,567% |
| Financial charges | 65/66B | €8,479 | €4,533 | -€3,946 | -46.5% |
| Recurring financial charges | 65 | €8,479 | €4,533 | -€3,946 | -46.5% |
| Profit (loss) for the period before taxes | 9903 | €176,908 | €83,670 | -€93,237 | -52.7% |
| Income taxes | 67/77 | €49,455 | €7,787 | -€41,668 | -84.3% |
| Profit (loss) for the period | 9904 | €127,453 | €75,884 | -€51,569 | -40.5% |
| Profit (loss) for the period to be appropriated | 9905 | €127,453 | €75,884 | -€51,569 | -40.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.