MEJA: 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.
What changed
MEJA
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€9,372
2024 · €397,602-€388,229
Equity
€734,028
2024 · €724,655+€9,372
Cash
€56,859
2024 · €55,407+€1,453
Balance sheet total
€6.2m
2024 · €5.3m+€907,636
Largest movements
Assets
- Current investments +€400,000
new in 2025: €400,000
- Financial fixed assets +€253,995
up €253,995 (+6.7%), from €3.8m to €4.0m
- Receivables after one year +€213,343
up €213,343 (+18.2%), from €1.2m to €1.4m
Equity and liabilities
- Debts after one year +€971,761
up €971,761 (+23.5%), from €4.1m to €5.1m
- Current portion of long-term debt -€190,720
down €190,720 (-81.4%), from €234,295 to €43,575
- Other debts +€93,958
up €93,958 (+97.7%), from €96,172 to €190,130
Income statement
- Financial income -€423,289
down €423,289 (-86.1%), from €491,458 to €68,169
of which Non-recurring financial income: -€443,646
- Gross operating margin +€118,364
up €118,364, from -€52,118 to €66,247
- Financial charges +€82,864
up €82,864 (+204%), from €40,576 to €123,441
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
€397,602
Gross operating margin
+€118,364
Depreciation
-€439
Other operating charges
-€2
Financial income
-€423,289
Financial charges
-€82,864
Result 2025
€9,372
raises the resultlowers the result
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.
From operations
-€115,406
Investment
-€664,183
Financing
+€781,042
Cash 2024
€55,407
From operations (derived)
-€115,406
Net result for the year
+€9,372
Depreciation
+€1,483
Receivables after one year
-€213,343
Receivables within one year
-€26,237
Deferred charges and accrued income
-€3,904
Trade debts
+€24,711
Smaller working-capital items
-€1,446
Other debts
+€93,958
Investment (derived)
-€664,183
Investment in fixed assets (net)
-€264,183
Current investments
-€400,000
Financing
+€781,042
Debts after one year
+€971,761
Current portion of long-term debt
-€190,720
Cash 2025
€56,859
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,309,484 | €6,217,120 | +€907,636 | +17.1% |
| Fixed assets | 21/28 | €3,788,898 | €4,051,598 | +€262,700 | +6.9% |
| Intangible fixed assets | 21 | €6,370 | €15,074 | +€8,705 | +137% |
| Financial fixed assets | 28 | €3,782,529 | €4,036,524 | +€253,995 | +6.7% |
| Current assets | 29/58 | €1,520,586 | €2,165,522 | +€644,936 | +42.4% |
| Amounts receivable after more than one year | 29 | €1,173,692 | €1,387,035 | +€213,343 | +18.2% |
| Other amounts receivable | 291 | €1,173,692 | €1,387,035 | +€213,343 | +18.2% |
| Amounts receivable within one year | 40/41 | €291,487 | €317,724 | +€26,237 | +9.0% |
| Trade receivables | 40 | €96,800 | €184,512 | +€87,712 | +90.6% |
| Other amounts receivable | 41 | €194,687 | €133,212 | -€61,475 | -31.6% |
| Current investments | 50/53 | - | €400,000 | +€400,000 | |
| Cash at bank and in hand | 54/58 | €55,407 | €56,859 | +€1,453 | +2.6% |
| Deferred charges and accrued income | 490/1 | €0 | €3,904 | +€3,904 | |
| Total equity and liabilities | 10/49 | €5,309,484 | €6,217,120 | +€907,636 | +17.1% |
| Equity | 10/15 | €724,655 | €734,028 | +€9,372 | +1.3% |
| Contributions | 10/11 | €255,000 | €255,000 | = | 0.0% |
| Reserves | 13 | €9,351 | €9,351 | = | 0.0% |
| Distributable reserves | 133 | €9,351 | €9,351 | = | 0.0% |
| Profit (loss) carried forward | 14 | €460,304 | €469,677 | +€9,372 | +2.0% |
| Amounts payable | 17/49 | €4,584,829 | €5,483,093 | +€898,264 | +19.6% |
| Amounts payable after more than one year | 17 | €4,142,209 | €5,113,970 | +€971,761 | +23.5% |
| Financial debts | 170/4 | €4,142,209 | €5,113,970 | +€971,761 | +23.5% |
| Amounts payable within one year | 42/48 | €442,468 | €369,123 | -€73,345 | -16.6% |
| Current portion of amounts payable after more than one year | 42 | €234,295 | €43,575 | -€190,720 | -81.4% |
| Trade debts | 44 | €110,707 | €135,417 | +€24,711 | +22.3% |
| Suppliers | 440/4 | €110,707 | €135,417 | +€24,711 | +22.3% |
| Taxes, remuneration and social security | 45 | €1,294 | €0 | -€1,294 | -100% |
| Taxes | 450/3 | €1,294 | €0 | -€1,294 | -100% |
| Other amounts payable | 47/48 | €96,172 | €190,130 | +€93,958 | +97.7% |
| Accrued charges and deferred income | 492/3 | €152 | €0 | -€152 | -100% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,044 | €1,483 | +€439 | +42.1% |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | -€52,118 | €66,247 | +€118,364 | |
| Operating profit (loss) | 9901 | -€53,279 | €64,644 | +€117,923 | |
| Financial income | 75/76B | €491,458 | €68,169 | -€423,289 | -86.1% |
| Recurring financial income | 75 | €47,812 | €68,169 | +€20,357 | +42.6% |
| Non-recurring financial income | 76B | €443,646 | €0 | -€443,646 | -100% |
| Financial charges | 65/66B | €40,576 | €123,441 | +€82,864 | +204% |
| Recurring financial charges | 65 | €40,576 | €123,441 | +€82,864 | +204% |
| Profit (loss) for the period before taxes | 9903 | €397,602 | €9,372 | -€388,229 | -97.6% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €397,602 | €9,372 | -€388,229 | -97.6% |
| Profit (loss) for the period to be appropriated | 9905 | €397,602 | €9,372 | -€388,229 | -97.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.