Dr. E. L. MKA: 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.
Dr. E. L. MKA
Largest movements
- Tangible fixed assets +€55,685
up €55,685 (+1470.2%), from €3,788 to €59,473
of which Furniture and vehicles: +€52,886
- Intangible fixed assets -€40,000
down €40,000 (-25.0%), from €160,000 to €120,000
- Cash -€36,328
down €36,328 (-25.2%), from €143,894 to €107,566
mainly Contributions, distributions and other (-€422,201) and Investment in fixed assets (net) (-€67,391)
- Receivables within one year +€35,460
up €35,460 (+15.7%), from €225,550 to €261,010
- Other debts +€47,525
up €47,525 (+11.1%), from €428,291 to €475,816
- Tax, wage and social debts -€21,929
down €21,929 (-66.9%), from €32,766 to €10,837
- Debts after one year -€13,544
down €13,544 (-30.6%), from €44,313 to €30,770
- Depreciation +€7,747
up €7,747 (+17.6%), from €43,959 to €51,706
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 | €538,226 | €554,348 | +€16,122 | +3.0% |
| Fixed assets | 21/28 | €163,788 | €179,473 | +€15,685 | +9.6% |
| Intangible fixed assets | 21 | €160,000 | €120,000 | -€40,000 | -25.0% |
| Tangible fixed assets | 22/27 | €3,788 | €59,473 | +€55,685 | +1470.2% |
| Plant, machinery and equipment | 23 | - | €2,799 | +€2,799 | |
| Furniture and vehicles | 24 | €3,788 | €56,674 | +€52,886 | +1396.3% |
| Current assets | 29/58 | €374,439 | €374,876 | +€437 | +0.1% |
| Amounts receivable within one year | 40/41 | €225,550 | €261,010 | +€35,460 | +15.7% |
| Trade receivables | 40 | €225,550 | €261,010 | +€35,460 | +15.7% |
| Cash at bank and in hand | 54/58 | €143,894 | €107,566 | -€36,328 | -25.2% |
| Deferred charges and accrued income | 490/1 | €4,994 | €6,299 | +€1,305 | +26.1% |
| Total equity and liabilities | 10/49 | €538,226 | €554,348 | +€16,122 | +3.0% |
| Equity | 10/15 | €18,550 | €18,550 | = | 0.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €519,676 | €535,798 | +€16,122 | +3.1% |
| Amounts payable after more than one year | 17 | €44,313 | €30,770 | -€13,544 | -30.6% |
| Financial debts | 170/4 | €44,313 | €30,770 | -€13,544 | -30.6% |
| Amounts payable within one year | 42/48 | €475,363 | €505,029 | +€29,666 | +6.2% |
| Current portion of amounts payable after more than one year | 42 | €14,171 | €14,051 | -€121 | -0.9% |
| Trade debts | 44 | €135 | €4,325 | +€4,191 | +3114.9% |
| Suppliers | 440/4 | €135 | €4,325 | +€4,191 | +3114.9% |
| Taxes, remuneration and social security | 45 | €32,766 | €10,837 | -€21,929 | -66.9% |
| Taxes | 450/3 | €32,766 | €10,837 | -€21,929 | -66.9% |
| Other amounts payable | 47/48 | €428,291 | €475,816 | +€47,525 | +11.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,959 | €51,706 | +€7,747 | +17.6% |
| Other operating charges | 640/8 | €1,214 | €929 | -€285 | -23.5% |
| Non-recurring operating charges | 66A | - | €1 | +€1 | |
| Gross operating margin | 9900 | €609,309 | €612,396 | +€3,087 | +0.5% |
| Operating profit (loss) | 9901 | €564,136 | €559,760 | -€4,376 | -0.8% |
| Financial income | 75/76B | €0 | €0 | -€0 | -50.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -50.0% |
| Financial charges | 65/66B | €678 | €1,723 | +€1,045 | +154.1% |
| Recurring financial charges | 65 | €678 | €1,723 | +€1,045 | +154.1% |
| Profit (loss) for the period before taxes | 9903 | €563,458 | €558,037 | -€5,420 | -1.0% |
| Income taxes | 67/77 | €135,477 | €135,837 | +€360 | +0.3% |
| Profit (loss) for the period | 9904 | €427,981 | €422,201 | -€5,780 | -1.4% |
| Profit (loss) for the period to be appropriated | 9905 | €427,981 | €422,201 | -€5,780 | -1.4% |
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 8 October 2026 via checked.be.