THE MEXICAN: what changed
THE MEXICAN
Largest movements
- Tangible fixed assets -€3,248
down €3,248 (-9.7%), from €33,358 to €30,110
of which Other tangible fixed assets: -€2,358
- Receivables within one year -€2,562
no longer reported in 2025 (was €2,562)
- Cash -€1,354
down €1,354 (-29.1%), from €4,660 to €3,306
mainly Tax, wage and social debts (-€4,842) and Current portion of long-term debt (-€3,953)
- Financial fixed assets +€700
up €700 (+122%), from €572 to €1,272
- Deferred charges and accrued income -€610
down €610 (-56.2%), from €1,085 to €475
- Profit (loss) carried forward +€5,483
up €5,483 (+9.0%), from -€60,652 to -€55,170
- Tax, wage and social debts -€4,842
down €4,842 (-26.7%), from €18,114 to €13,271
of which Taxes: -€4,557
- Current portion of long-term debt -€3,953
no longer reported in 2025 (was €3,953)
- Trade debts -€2,215
down €2,215 (-9.6%), from €23,065 to €20,850
- Other debts -€1,748
down €1,748 (-13.4%), from €13,083 to €11,335
- Staff costs -€5,407
down €5,407 (-16.1%), from €33,560 to €28,152
- Gross operating margin -€2,868
down €2,868 (-5.7%), from €50,762 to €47,894
- Other operating charges +€2,579
up €2,579 (+59.5%), from €4,338 to €6,917
- Financial charges -€931
down €931 (-19.0%), from €4,889 to €3,958
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €43,023 | €35,900 | -€7,123 | -16.6% |
| Fixed assets | 21/28 | €33,930 | €31,382 | -€2,548 | -7.5% |
| Tangible fixed assets | 22/27 | €33,358 | €30,110 | -€3,248 | -9.7% |
| Plant, machinery and equipment | 23 | €890 | €0 | -€890 | -100% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Other tangible fixed assets | 26 | €32,468 | €30,110 | -€2,358 | -7.3% |
| Financial fixed assets | 28 | €572 | €1,272 | +€700 | +122% |
| Current assets | 29/58 | €9,093 | €4,518 | -€4,575 | -50.3% |
| Stocks and contracts in progress | 3 | €786 | €737 | -€48 | -6.1% |
| Stocks | 30/36 | €786 | €737 | -€48 | -6.1% |
| Amounts receivable within one year | 40/41 | €2,562 | - | -€2,562 | |
| Trade receivables | 40 | €2,562 | - | -€2,562 | |
| Cash at bank and in hand | 54/58 | €4,660 | €3,306 | -€1,354 | -29.1% |
| Deferred charges and accrued income | 490/1 | €1,085 | €475 | -€610 | -56.2% |
| Total equity and liabilities | 10/49 | €43,023 | €35,900 | -€7,123 | -16.6% |
| Equity | 10/15 | -€40,192 | -€34,710 | +€5,483 | +13.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€60,652 | -€55,170 | +€5,483 | +9.0% |
| Amounts payable | 17/49 | €83,215 | €70,610 | -€12,605 | -15.1% |
| Amounts payable after more than one year | 17 | €25,000 | €25,000 | = | 0.0% |
| Financial debts | 170/4 | €25,000 | €25,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €58,215 | €45,457 | -€12,759 | -21.9% |
| Current portion of amounts payable after more than one year | 42 | €3,953 | - | -€3,953 | |
| Trade debts | 44 | €23,065 | €20,850 | -€2,215 | -9.6% |
| Suppliers | 440/4 | €23,065 | €20,850 | -€2,215 | -9.6% |
| Taxes, remuneration and social security | 45 | €18,114 | €13,271 | -€4,842 | -26.7% |
| Taxes | 450/3 | €15,797 | €11,240 | -€4,557 | -28.8% |
| Remuneration and social security | 454/9 | €2,317 | €2,032 | -€285 | -12.3% |
| Other amounts payable | 47/48 | €13,083 | €11,335 | -€1,748 | -13.4% |
| Accrued charges and deferred income | 492/3 | - | €153 | +€153 | |
| Non-recurring operating income | 76A | €2,011 | - | -€2,011 | |
| Remuneration, social security and pensions | 62 | €33,560 | €28,152 | -€5,407 | -16.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,630 | €3,248 | -€382 | -10.5% |
| Other operating charges | 640/8 | €4,338 | €6,917 | +€2,579 | +59.5% |
| Gross operating margin | 9900 | €50,762 | €47,894 | -€2,868 | -5.7% |
| Operating profit (loss) | 9901 | €9,235 | €9,576 | +€341 | +3.7% |
| Financial income | 75/76B | €90 | €109 | +€19 | +21.5% |
| Recurring financial income | 75 | €90 | €109 | +€19 | +21.5% |
| Financial charges | 65/66B | €4,889 | €3,958 | -€931 | -19.0% |
| Recurring financial charges | 65 | €4,889 | €3,958 | -€931 | -19.0% |
| Profit (loss) for the period before taxes | 9903 | €4,436 | €5,727 | +€1,292 | +29.1% |
| Income taxes | 67/77 | €255 | €245 | -€10 | -4.1% |
| Profit (loss) for the period | 9904 | €4,181 | €5,483 | +€1,302 | +31.1% |
| Profit (loss) for the period to be appropriated | 9905 | €4,181 | €5,483 | +€1,302 | +31.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.