M.C.L.: 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
M.C.L.
NACE 46.841, Wholesale trade
financial year 2026 compared with 2025filed annual accounts (NBB)
Net result for the year
€914,498
2025 · €837,004+€77,494
Equity
€2.5m
2025 · €2.5m
Cash
€545,467
2025 · €840,358-€294,891
Balance sheet total
€6.7m
2025 · €6.7m-€16,641
Largest movements
Assets
- Stocks and contracts +€423,461
up €423,461 (+21.4%), from €2.0m to €2.4m
- Cash -€294,891
down €294,891 (-35.1%), from €840,358 to €545,467
mainly Contributions, distributions and other (-€914,498) and Stocks and contracts (-€423,461)
- Tangible fixed assets -€91,372
down €91,372 (-9.3%), from €980,353 to €888,981
Equity and liabilities
- Debts after one year -€264,871
down €264,871 (-11.1%), from €2.4m to €2.1m
- Trade debts +€195,589
up €195,589 (+39.3%), from €498,204 to €693,792
- Other debts +€77,494
up €77,494 (+9.3%), from €837,004 to €914,498
Income statement
- Goods and materials -€2.2m
down €2.2m (-21.8%), from €10.3m to €8.1m
of which Purchases: -€1.8m
- Turnover -€2.0m
down €2.0m (-16.4%), from €12.5m to €10.4m
From the 2025 result to the 2026 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 2025
€837,004
Turnover
-€2.0m
Other operating income
-€32,139
Goods and materials
+€2.2m
Services and other goods
+€101,002
Staff costs
+€2,107
Depreciation
-€2,686
Write-downs
-€1,846
Other operating charges
+€140
Other operating items
-€2,000
Financial income
-€88,114
Financial charges
+€1,907
Taxes
-€96,392
Result 2026
€914,498
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€845,317
Investment
+€36,783
Financing
-€1.2m
Cash 2025
€840,358
From operations (derived)
+€845,317
Net result for the year
+€914,498
Depreciation
+€94,429
Stocks and contracts
-€423,461
Receivables within one year
+€10,926
Deferred charges and accrued income
+€3,073
Trade debts
+€195,589
Tax, wage and social debts
-€15,437
Other debts
+€77,494
Accrued charges and deferred income
-€11,794
Investment (derived)
+€36,783
Investment in fixed assets (net)
-€8,594
Current investments
+€45,376
Financing
-€1.2m
Debts after one year
-€264,871
Current portion of long-term debt
+€2,378
Contributions, distributions and other
-€914,498
Cash 2026
€545,467
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,727,367 | €6,710,725 | -€16,641 | -0.2% |
| Fixed assets | 21/28 | €980,353 | €894,518 | -€85,835 | -8.8% |
| Intangible fixed assets | 21 | - | €5,537 | +€5,537 | |
| Tangible fixed assets | 22/27 | €980,353 | €888,981 | -€91,372 | -9.3% |
| Land and buildings | 22 | €639,809 | €619,355 | -€20,454 | -3.2% |
| Plant, machinery and equipment | 23 | €263,879 | €224,869 | -€39,010 | -14.8% |
| Furniture and vehicles | 24 | €76,665 | €44,758 | -€31,908 | -41.6% |
| Current assets | 29/58 | €5,747,013 | €5,816,207 | +€69,194 | +1.2% |
| Stocks and contracts in progress | 3 | €1,981,093 | €2,404,553 | +€423,461 | +21.4% |
| Stocks | 30/36 | €1,981,093 | €2,404,553 | +€423,461 | +21.4% |
| Goods purchased for resale | 34 | €1,981,093 | €2,404,553 | +€423,461 | +21.4% |
| Amounts receivable within one year | 40/41 | €1,598,894 | €1,587,967 | -€10,926 | -0.7% |
| Trade receivables | 40 | €1,595,063 | €1,587,967 | -€7,095 | -0.4% |
| Other amounts receivable | 41 | €3,831 | - | -€3,831 | |
| Current investments | 50/53 | €1,300,000 | €1,254,624 | -€45,376 | -3.5% |
| Other investments | 51/53 | €1,300,000 | €1,254,624 | -€45,376 | -3.5% |
| Cash at bank and in hand | 54/58 | €840,358 | €545,467 | -€294,891 | -35.1% |
| Deferred charges and accrued income | 490/1 | €26,669 | €23,596 | -€3,073 | -11.5% |
| Total equity and liabilities | 10/49 | €6,727,367 | €6,710,725 | -€16,641 | -0.2% |
| Equity | 10/15 | €2,480,325 | €2,480,325 | = | 0.0% |
| Contributions | 10/11 | €594,944 | €594,944 | = | 0.0% |
| Capital | 10 | €594,944 | €594,944 | = | 0.0% |
| Issued capital | 100 | €594,944 | €594,944 | = | 0.0% |
| Reserves | 13 | €1,885,380 | €1,885,380 | = | 0.0% |
| Non-distributable reserves | 130/1 | €59,494 | €59,494 | = | 0.0% |
| Legal reserve | 130 | €59,494 | €59,494 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,000 | €4,000 | = | 0.0% |
| Distributable reserves | 133 | €1,821,886 | €1,821,886 | = | 0.0% |
| Amounts payable | 17/49 | €4,247,042 | €4,230,401 | -€16,641 | -0.4% |
| Amounts payable after more than one year | 17 | €2,376,844 | €2,111,972 | -€264,871 | -11.1% |
| Financial debts | 170/4 | €2,376,844 | €2,111,972 | -€264,871 | -11.1% |
| Credit institutions | 173 | €2,376,844 | €2,111,972 | -€264,871 | -11.1% |
| Amounts payable within one year | 42/48 | €1,843,665 | €2,103,689 | +€260,024 | +14.1% |
| Current portion of amounts payable after more than one year | 42 | €262,493 | €264,871 | +€2,378 | +0.9% |
| Trade debts | 44 | €498,204 | €693,792 | +€195,589 | +39.3% |
| Suppliers | 440/4 | €498,204 | €693,792 | +€195,589 | +39.3% |
| Taxes, remuneration and social security | 45 | €245,963 | €230,527 | -€15,437 | -6.3% |
| Taxes | 450/3 | €175,511 | €167,137 | -€8,375 | -4.8% |
| Remuneration and social security | 454/9 | €70,452 | €63,390 | -€7,062 | -10.0% |
| Other amounts payable | 47/48 | €837,004 | €914,498 | +€77,494 | +9.3% |
| Accrued charges and deferred income | 492/3 | €26,534 | €14,740 | -€11,794 | -44.4% |
| Operating income | 70/76A | €12,540,173 | €10,458,517 | -€2.1m | -16.6% |
| Turnover | 70 | €12,470,874 | €10,423,358 | -€2.0m | -16.4% |
| Other operating income | 74 | €67,299 | €35,160 | -€32,139 | -47.8% |
| Non-recurring operating income | 76A | €2,000 | - | -€2,000 | |
| Operating charges | 60/66A | €11,707,933 | €9,366,184 | -€2.3m | -20.0% |
| Goods for resale, raw materials and consumables | 60 | €10,301,003 | €8,057,972 | -€2.2m | -21.8% |
| Purchases | 600/8 | €10,236,701 | €8,481,433 | -€1.8m | -17.1% |
| Change in stocks: decrease (increase) | 609 | €64,302 | -€423,461 | -€487,763 | |
| Services and other goods | 61 | €811,120 | €710,119 | -€101,002 | -12.5% |
| Remuneration, social security and pensions | 62 | €453,714 | €451,607 | -€2,107 | -0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,743 | €94,429 | +€2,686 | +2.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €770 | €2,615 | +€1,846 | +240% |
| Other operating charges | 640/8 | €49,583 | €49,443 | -€140 | -0.3% |
| Operating profit (loss) | 9901 | €832,240 | €1,092,333 | +€260,093 | +31.3% |
| Financial income | 75/76B | €214,586 | €126,471 | -€88,114 | -41.1% |
| Recurring financial income | 75 | €214,586 | €126,471 | -€88,114 | -41.1% |
| Income from financial fixed assets | 750 | €26,559 | €23,570 | -€2,989 | -11.3% |
| Other financial income | 752/9 | €188,026 | €102,901 | -€85,125 | -45.3% |
| Financial charges | 65/66B | €26,758 | €24,850 | -€1,907 | -7.1% |
| Recurring financial charges | 65 | €26,758 | €24,850 | -€1,907 | -7.1% |
| Debt charges | 650 | €25,912 | €23,573 | -€2,338 | -9.0% |
| Other financial charges | 652/9 | €846 | €1,277 | +€431 | +50.9% |
| Profit (loss) for the period before taxes | 9903 | €1,020,068 | €1,193,954 | +€173,886 | +17.0% |
| Income taxes | 67/77 | €183,063 | €279,456 | +€96,392 | +52.7% |
| Taxes | 670/3 | €183,063 | €279,456 | +€96,392 | +52.7% |
| Profit (loss) for the period | 9904 | €837,004 | €914,498 | +€77,494 | +9.3% |
| Profit (loss) for the period to be appropriated | 9905 | €837,004 | €914,498 | +€77,494 | +9.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.