AS & MK: 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.
AS & MK
Largest movements
- Cash -€40,726
down €40,726 (-91.1%), from €44,718 to €3,992
mainly Tax, wage and social debts (-€31,844) and Trade debts (-€25,260)
- Receivables within one year -€26,742
down €26,742 (-23.7%), from €112,937 to €86,195
of which Other amounts receivable: -€32,900
- Tangible fixed assets -€6,890
down €6,890 (-28.4%), from €24,280 to €17,390
of which Leasing and similar rights: -€5,783
- Tax, wage and social debts -€31,844
down €31,844 (-97.4%), from €32,690 to €846
of which Taxes: -€19,326
- Trade debts -€25,260
down €25,260 (-94.3%), from €26,779 to €1,519
- Profit (loss) carried forward -€17,573
down €17,573 (-18.4%), from €95,710 to €78,137
- Gross operating margin -€45,496
down €45,496, from €44,109 to -€1,388
- Purchases and services +€31,746
up €31,746 (+14.9%), from €213,282 to €245,027
- Turnover -€13,771
down €13,771 (-5.4%), from €257,387 to €243,617
- Other operating charges +€2,610
up €2,610 (+240.6%), from €1,085 to €3,695
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 | €182,255 | €107,578 | -€74,677 | -41.0% |
| Fixed assets | 21/28 | €24,280 | €17,390 | -€6,890 | -28.4% |
| Tangible fixed assets | 22/27 | €24,280 | €17,390 | -€6,890 | -28.4% |
| Plant, machinery and equipment | 23 | €760 | €552 | -€207 | -27.3% |
| Furniture and vehicles | 24 | €3,698 | €2,799 | -€899 | -24.3% |
| Leasing and similar rights | 25 | €19,822 | €14,039 | -€5,783 | -29.2% |
| Current assets | 29/58 | €157,975 | €90,188 | -€67,787 | -42.9% |
| Amounts receivable within one year | 40/41 | €112,937 | €86,195 | -€26,742 | -23.7% |
| Trade receivables | 40 | €47,997 | €54,155 | +€6,158 | +12.8% |
| Other amounts receivable | 41 | €64,940 | €32,040 | -€32,900 | -50.7% |
| Cash at bank and in hand | 54/58 | €44,718 | €3,992 | -€40,726 | -91.1% |
| Deferred charges and accrued income | 490/1 | €320 | - | -€320 | |
| Total equity and liabilities | 10/49 | €182,255 | €107,578 | -€74,677 | -41.0% |
| Equity | 10/15 | €114,310 | €96,737 | -€17,573 | -15.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €95,710 | €78,137 | -€17,573 | -18.4% |
| Amounts payable | 17/49 | €67,945 | €10,841 | -€57,104 | -84.0% |
| Amounts payable after more than one year | 17 | €8,475 | €8,475 | = | 0.0% |
| Financial debts | 170/4 | €8,475 | €8,475 | = | 0.0% |
| Amounts payable within one year | 42/48 | €59,470 | €2,366 | -€57,104 | -96.0% |
| Trade debts | 44 | €26,779 | €1,519 | -€25,260 | -94.3% |
| Suppliers | 440/4 | €26,779 | €1,519 | -€25,260 | -94.3% |
| Taxes, remuneration and social security | 45 | €32,690 | €846 | -€31,844 | -97.4% |
| Taxes | 450/3 | €19,326 | - | -€19,326 | |
| Remuneration and social security | 454/9 | €13,364 | €846 | -€12,518 | -93.7% |
| Turnover | 70 | €257,387 | €243,617 | -€13,771 | -5.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €213,282 | €245,027 | +€31,746 | +14.9% |
| Remuneration, social security and pensions | 62 | €2,444 | €350 | -€2,095 | -85.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,341 | €6,890 | -€451 | -6.1% |
| Other operating charges | 640/8 | €1,085 | €3,695 | +€2,610 | +240.6% |
| Gross operating margin | 9900 | €44,109 | -€1,388 | -€45,496 | |
| Operating profit (loss) | 9901 | €33,239 | -€12,322 | -€45,561 | |
| Financial income | 75/76B | €558 | - | -€558 | |
| Recurring financial income | 75 | €558 | - | -€558 | |
| Financial charges | 65/66B | €756 | €132 | -€624 | -82.6% |
| Recurring financial charges | 65 | €756 | €132 | -€624 | -82.6% |
| Profit (loss) for the period before taxes | 9903 | €33,041 | -€12,453 | -€45,495 | |
| Income taxes | 67/77 | €6,260 | €5,120 | -€1,140 | -18.2% |
| Profit (loss) for the period | 9904 | €26,781 | -€17,573 | -€44,354 | |
| Profit (loss) for the period to be appropriated | 9905 | €26,781 | -€17,573 | -€44,354 |
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 7 October 2026 via checked.be.