GROUP MC: 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.
GROUP MC
Largest movements
- Stocks and contracts -€701,886
down €701,886 (-33.3%), from €2.1m to €1.4m
of which Stocks: -€817,885
- Receivables within one year +€147,115
up €147,115 (+105.4%), from €139,634 to €286,749
of which Other amounts receivable: +€94,188
- Debts after one year -€705,165
down €705,165 (-40.0%), from €1.8m to €1.1m
- Other debts +€246,581
up €246,581 (+55.8%), from €441,906 to €688,487
- Profit (loss) carried forward -€235,390
down €235,390 (-32.0%), from -€735,620 to -€971,010
- Trade debts +€101,586
up €101,586 (+95.6%), from €106,282 to €207,868
- Tax, wage and social debts +€36,034
up €36,034 (+8319.4%), from €433 to €36,467
of which Taxes: +€19,248
- Gross operating margin -€58,755
down €58,755 (-208.0%), from -€28,246 to -€87,001
- Staff costs +€54,619
new in 2025: €54,619
- Financial charges +€42,294
up €42,294 (+100.9%), from €41,898 to €84,192
- Other operating charges -€4,601
down €4,601 (-58.2%), from €7,911 to €3,310
- Taxes +€1,215
new in 2025: €1,215
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 | €3,098,384 | €2,542,030 | -€556,354 | -18.0% |
| Fixed assets | 21/28 | €761,571 | €764,941 | +€3,370 | +0.4% |
| Tangible fixed assets | 22/27 | €10,951 | €14,321 | +€3,370 | +30.8% |
| Plant, machinery and equipment | 23 | €2,985 | €6,279 | +€3,293 | +110.3% |
| Furniture and vehicles | 24 | €7,965 | €8,042 | +€77 | +1.0% |
| Financial fixed assets | 28 | €750,620 | €750,620 | = | 0.0% |
| Current assets | 29/58 | €2,336,813 | €1,777,089 | -€559,724 | -24.0% |
| Stocks and contracts in progress | 3 | €2,110,305 | €1,408,419 | -€701,886 | -33.3% |
| Stocks | 30/36 | €817,885 | - | -€817,885 | |
| Contracts in progress | 37 | €1,292,420 | €1,408,419 | +€115,999 | +9.0% |
| Amounts receivable within one year | 40/41 | €139,634 | €286,749 | +€147,115 | +105.4% |
| Trade receivables | 40 | €3,993 | €56,920 | +€52,927 | +1325.5% |
| Other amounts receivable | 41 | €135,641 | €229,829 | +€94,188 | +69.4% |
| Cash at bank and in hand | 54/58 | €86,875 | €81,922 | -€4,954 | -5.7% |
| Total equity and liabilities | 10/49 | €3,098,384 | €2,542,030 | -€556,354 | -18.0% |
| Equity | 10/15 | €785,127 | €549,737 | -€235,390 | -30.0% |
| Contributions | 10/11 | €1,511,973 | €1,511,973 | = | 0.0% |
| Capital | 10 | €1,511,973 | €1,511,973 | = | 0.0% |
| Issued capital | 100 | €1,511,973 | €1,511,973 | = | 0.0% |
| Reserves | 13 | €8,774 | €8,774 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,056 | €5,056 | = | 0.0% |
| Legal reserve | 130 | €5,056 | €5,056 | = | 0.0% |
| Distributable reserves | 133 | €3,718 | €3,718 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€735,620 | -€971,010 | -€235,390 | -32.0% |
| Amounts payable | 17/49 | €2,313,257 | €1,992,293 | -€320,964 | -13.9% |
| Amounts payable after more than one year | 17 | €1,764,636 | €1,059,471 | -€705,165 | -40.0% |
| Financial debts | 170/4 | €1,764,636 | €1,059,471 | -€705,165 | -40.0% |
| Amounts payable within one year | 42/48 | €548,621 | €932,822 | +€384,201 | +70.0% |
| Trade debts | 44 | €106,282 | €207,868 | +€101,586 | +95.6% |
| Suppliers | 440/4 | €106,282 | €207,868 | +€101,586 | +95.6% |
| Taxes, remuneration and social security | 45 | €433 | €36,467 | +€36,034 | +8319.4% |
| Taxes | 450/3 | €433 | €19,681 | +€19,248 | +4443.8% |
| Remuneration and social security | 454/9 | - | €16,786 | +€16,786 | |
| Other amounts payable | 47/48 | €441,906 | €688,487 | +€246,581 | +55.8% |
| Remuneration, social security and pensions | 62 | - | €54,619 | +€54,619 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,948 | €5,053 | +€105 | +2.1% |
| Other operating charges | 640/8 | €7,911 | €3,310 | -€4,601 | -58.2% |
| Gross operating margin | 9900 | -€28,246 | -€87,001 | -€58,755 | -208.0% |
| Operating profit (loss) | 9901 | -€41,105 | -€149,983 | -€108,877 | -264.9% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €41,898 | €84,192 | +€42,294 | +100.9% |
| Recurring financial charges | 65 | €41,898 | €84,192 | +€42,294 | +100.9% |
| Profit (loss) for the period before taxes | 9903 | -€83,004 | -€234,175 | -€151,171 | -182.1% |
| Income taxes | 67/77 | - | €1,215 | +€1,215 | |
| Profit (loss) for the period | 9904 | -€83,004 | -€235,390 | -€152,386 | -183.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€83,004 | -€235,390 | -€152,386 | -183.6% |
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 9 October 2026 via checked.be.