MEY: 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.
What changed
MEY
NACE 68.121, Development of residential building projects
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€11,539
2024 · -€292,916+€304,456
Equity
€2.4m
2024 · €2.4m+€11,539
Cash
€847,534
2024 · €1.1m-€207,729
Balance sheet total
€4.5m
2024 · €5.5m-€984,454
Largest movements
Assets
- Stocks and contracts -€818,689
down €818,689 (-21.0%), from €3.9m to €3.1m
- Cash -€207,729
down €207,729 (-19.7%), from €1.1m to €847,534
mainly Short-term financial debts (-€1.1m) and Trade debts (-€341,857)
Equity and liabilities
- Short-term financial debts -€1.1m
down €1.1m (-46.4%), from €2.3m to €1.2m
- Other debts +€423,352
up €423,352 (+106.5%), from €397,464 to €820,815
- Trade debts -€341,857
down €341,857 (-94.2%), from €363,093 to €21,237
Income statement
- Gross operating margin +€306,542
up €306,542 (+1082.7%), from €28,312 to €334,854
- Depreciation +€6,433
up €6,433 (+13.5%), from €47,688 to €54,121
- Other operating charges -€6,396
down €6,396 (-59.8%), from €10,704 to €4,308
- Financial income -€5,403
down €5,403 (-55.0%), from €9,826 to €4,423
- Staff costs -€4,287
down €4,287 (-1.7%), from €257,031 to €252,744
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.
Result 2024
-€292,916
Gross operating margin
+€306,542
Staff costs
+€4,287
Depreciation
-€6,433
Other operating charges
+€6,396
Financial income
-€5,403
Financial charges
+€1,650
Taxes
-€2,583
Result 2025
€11,539
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.
From operations
+€904,381
Investment
-€51,373
Financing
-€1.1m
Cash 2024
€1.1m
From operations (derived)
+€904,381
Net result for the year
+€11,539
Depreciation
+€54,121
Receivables after one year
-€2,025
Stocks and contracts
+€818,689
Receivables within one year
-€35,766
Deferred charges and accrued income
-€6,921
Trade debts
-€341,857
Tax, wage and social debts
-€4,107
Advances received
-€9,680
Other debts
+€423,352
Accrued charges and deferred income
-€2,964
Investment (derived)
-€51,373
Investment in fixed assets (net)
-€51,373
Financing
-€1.1m
Debts after one year
-€7,360
Current portion of long-term debt
+€95
Short-term financial debts
-€1.1m
Cash 2025
€847,534
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,488,660 | €4,504,206 | -€984,454 | -17.9% |
| Fixed assets | 21/28 | €258,923 | €256,175 | -€2,748 | -1.1% |
| Tangible fixed assets | 22/27 | €257,901 | €250,539 | -€7,362 | -2.9% |
| Plant, machinery and equipment | 23 | €12,500 | €17,500 | +€5,000 | +40.0% |
| Furniture and vehicles | 24 | €181,990 | €188,352 | +€6,362 | +3.5% |
| Leasing and similar rights | 25 | €26,862 | €16,123 | -€10,739 | -40.0% |
| Other tangible fixed assets | 26 | €36,549 | €28,564 | -€7,986 | -21.8% |
| Financial fixed assets | 28 | €1,022 | €5,636 | +€4,614 | +451.3% |
| Current assets | 29/58 | €5,229,737 | €4,248,031 | -€981,705 | -18.8% |
| Amounts receivable after more than one year | 29 | €43,473 | €45,498 | +€2,025 | +4.7% |
| Other amounts receivable | 291 | €43,473 | €45,498 | +€2,025 | +4.7% |
| Stocks and contracts in progress | 3 | €3,889,950 | €3,071,261 | -€818,689 | -21.0% |
| Stocks | 30/36 | €3,889,950 | €3,071,261 | -€818,689 | -21.0% |
| Amounts receivable within one year | 40/41 | €233,881 | €269,646 | +€35,766 | +15.3% |
| Trade receivables | 40 | €94,848 | €46,980 | -€47,868 | -50.5% |
| Other amounts receivable | 41 | €139,033 | €222,666 | +€83,634 | +60.2% |
| Cash at bank and in hand | 54/58 | €1,055,263 | €847,534 | -€207,729 | -19.7% |
| Deferred charges and accrued income | 490/1 | €7,170 | €14,092 | +€6,921 | +96.5% |
| Total equity and liabilities | 10/49 | €5,488,660 | €4,504,206 | -€984,454 | -17.9% |
| Equity | 10/15 | €2,400,829 | €2,412,368 | +€11,539 | +0.5% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €422,855 | €422,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €421,000 | €421,000 | = | 0.0% |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,959,424 | €1,970,963 | +€11,539 | +0.6% |
| Amounts payable | 17/49 | €3,087,831 | €2,091,838 | -€995,993 | -32.3% |
| Amounts payable after more than one year | 17 | €12,603 | €5,243 | -€7,360 | -58.4% |
| Financial debts | 170/4 | €12,603 | €5,243 | -€7,360 | -58.4% |
| Amounts payable within one year | 42/48 | €3,072,264 | €2,086,595 | -€985,669 | -32.1% |
| Current portion of amounts payable after more than one year | 42 | €7,266 | €7,360 | +€95 | +1.3% |
| Financial debts | 43 | €2,271,812 | €1,218,340 | -€1.1m | -46.4% |
| Credit institutions | 430/8 | €2,271,812 | €1,218,340 | -€1.1m | -46.4% |
| Trade debts | 44 | €363,093 | €21,237 | -€341,857 | -94.2% |
| Suppliers | 440/4 | €363,093 | €21,237 | -€341,857 | -94.2% |
| Advances received on contracts in progress | 46 | €9,680 | €0 | -€9,680 | -100.0% |
| Taxes, remuneration and social security | 45 | €22,950 | €18,843 | -€4,107 | -17.9% |
| Taxes | 450/3 | €26 | €0 | -€26 | -100.0% |
| Remuneration and social security | 454/9 | €22,924 | €18,843 | -€4,081 | -17.8% |
| Other amounts payable | 47/48 | €397,464 | €820,815 | +€423,352 | +106.5% |
| Accrued charges and deferred income | 492/3 | €2,964 | €0 | -€2,964 | -100.0% |
| Non-recurring operating income | 76A | - | €7,723 | +€7,723 | |
| Remuneration, social security and pensions | 62 | €257,031 | €252,744 | -€4,287 | -1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,688 | €54,121 | +€6,433 | +13.5% |
| Other operating charges | 640/8 | €10,704 | €4,308 | -€6,396 | -59.8% |
| Gross operating margin | 9900 | €28,312 | €334,854 | +€306,542 | +1082.7% |
| Operating profit (loss) | 9901 | -€287,110 | €23,682 | +€310,792 | |
| Financial income | 75/76B | €9,826 | €4,423 | -€5,403 | -55.0% |
| Recurring financial income | 75 | €9,826 | €4,423 | -€5,403 | -55.0% |
| Financial charges | 65/66B | €14,422 | €12,772 | -€1,650 | -11.4% |
| Recurring financial charges | 65 | €14,422 | €12,772 | -€1,650 | -11.4% |
| Profit (loss) for the period before taxes | 9903 | -€291,706 | €15,332 | +€307,038 | |
| Income taxes | 67/77 | €1,210 | €3,793 | +€2,583 | +213.4% |
| Profit (loss) for the period | 9904 | -€292,916 | €11,539 | +€304,456 | |
| Profit (loss) for the period to be appropriated | 9905 | -€292,916 | €11,539 | +€304,456 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.