NO - MEK: 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.
NO - MEK
Largest movements
- Cash +€91,952
up €91,952 (+36.5%), from €251,905 to €343,857
mainly Net result for the year (+€86,736) and Depreciation (+€32,038)
- Tangible fixed assets -€29,588
down €29,588 (-1.7%), from €1.7m to €1.7m
of which Land and buildings: -€28,909
- Reserves +€86,736
up €86,736 (+15.1%), from €573,797 to €660,533
of which Distributable reserves: +€86,736
- Debts after one year -€22,435
down €22,435 (-23.2%), from €96,817 to €74,381
of which Financial debts: -€37,223
- Gross operating margin +€6,953
up €6,953 (+3.7%), from €190,300 to €197,254
- Taxes +€2,808
up €2,808 (+8.8%), from €32,029 to €34,837
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 | €1,996,708 | €2,059,292 | +€62,584 | +3.1% |
| Fixed assets | 21/28 | €1,722,510 | €1,692,922 | -€29,588 | -1.7% |
| Tangible fixed assets | 22/27 | €1,722,510 | €1,692,922 | -€29,588 | -1.7% |
| Land and buildings | 22 | €1,721,355 | €1,692,447 | -€28,909 | -1.7% |
| Furniture and vehicles | 24 | €1,155 | €475 | -€680 | -58.9% |
| Current assets | 29/58 | €274,198 | €366,370 | +€92,172 | +33.6% |
| Amounts receivable within one year | 40/41 | €19,267 | €18,477 | -€790 | -4.1% |
| Trade receivables | 40 | €19,267 | €14,640 | -€4,627 | -24.0% |
| Other amounts receivable | 41 | - | €3,836 | +€3,836 | |
| Cash at bank and in hand | 54/58 | €251,905 | €343,857 | +€91,952 | +36.5% |
| Deferred charges and accrued income | 490/1 | €3,026 | €4,036 | +€1,011 | +33.4% |
| Total equity and liabilities | 10/49 | €1,996,708 | €2,059,292 | +€62,584 | +3.1% |
| Equity | 10/15 | €1,835,797 | €1,922,533 | +€86,736 | +4.7% |
| Contributions | 10/11 | €122,000 | €122,000 | = | 0.0% |
| Capital | 10 | €122,000 | €122,000 | = | 0.0% |
| Issued capital | 100 | €122,000 | €122,000 | = | 0.0% |
| Revaluation surpluses | 12 | €1,140,000 | €1,140,000 | = | 0.0% |
| Reserves | 13 | €573,797 | €660,533 | +€86,736 | +15.1% |
| Non-distributable reserves | 130/1 | €12,200 | €12,200 | = | 0.0% |
| Legal reserve | 130 | €12,200 | €12,200 | = | 0.0% |
| Distributable reserves | 133 | €561,597 | €648,333 | +€86,736 | +15.4% |
| Amounts payable | 17/49 | €160,911 | €136,759 | -€24,152 | -15.0% |
| Amounts payable after more than one year | 17 | €96,817 | €74,381 | -€22,435 | -23.2% |
| Financial debts | 170/4 | €76,434 | €39,211 | -€37,223 | -48.7% |
| Other amounts payable | 178/9 | €20,383 | €35,170 | +€14,787 | +72.5% |
| Amounts payable within one year | 42/48 | €61,613 | €60,585 | -€1,027 | -1.7% |
| Current portion of amounts payable after more than one year | 42 | €35,333 | €37,223 | +€1,889 | +5.3% |
| Trade debts | 44 | €336 | €361 | +€25 | +7.4% |
| Suppliers | 440/4 | €336 | €361 | +€25 | +7.4% |
| Taxes, remuneration and social security | 45 | €6,248 | €12,892 | +€6,644 | +106.3% |
| Taxes | 450/3 | €6,248 | €12,892 | +€6,644 | +106.3% |
| Other amounts payable | 47/48 | €19,695 | €10,110 | -€9,585 | -48.7% |
| Accrued charges and deferred income | 492/3 | €2,481 | €1,792 | -€690 | -27.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,779 | €32,038 | -€741 | -2.3% |
| Other operating charges | 640/8 | €36,928 | €38,080 | +€1,152 | +3.1% |
| Gross operating margin | 9900 | €190,300 | €197,254 | +€6,953 | +3.7% |
| Operating profit (loss) | 9901 | €120,593 | €127,136 | +€6,542 | +5.4% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €7,420 | €5,562 | -€1,858 | -25.0% |
| Recurring financial charges | 65 | €7,420 | €5,562 | -€1,858 | -25.0% |
| Profit (loss) for the period before taxes | 9903 | €113,174 | €121,573 | +€8,399 | +7.4% |
| Income taxes | 67/77 | €32,029 | €34,837 | +€2,808 | +8.8% |
| Profit (loss) for the period | 9904 | €81,145 | €86,736 | +€5,591 | +6.9% |
| Profit (loss) for the period to be appropriated | 9905 | €81,145 | €86,736 | +€5,591 | +6.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.