M.C.O.: 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.
M.C.O.
Largest movements
- Cash +€12,971
up €12,971 (+12.9%), from €100,547 to €113,518
mainly Receivables within one year (+€7,887) and Tax, wage and social debts (+€3,423)
- Receivables within one year -€7,887
down €7,887 (-13.4%), from €58,714 to €50,826
of which Trade receivables: -€9,945
- Tangible fixed assets -€2,725
down €2,725 (-80.9%), from €3,367 to €642
of which Furniture and vehicles: -€2,046
- Tax, wage and social debts +€3,423
up €3,423 (+82.9%), from €4,127 to €7,549
- Trade debts -€3,198
down €3,198 (-51.6%), from €6,192 to €2,994
- Profit (loss) carried forward +€2,159
up €2,159 (+726%), from €297 to €2,457
- Turnover -€41,221
down €41,221 (-27.3%), from €151,204 to €109,983
- Gross operating margin -€35,539
down €35,539 (-83.0%), from €42,828 to €7,290
- Purchases and services -€6,334
down €6,334 (-5.8%), from €109,028 to €102,694
- Taxes -€2,849
down €2,849 (-75.3%), from €3,786 to €937
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €164,828 | €167,186 | +€2,358 | +1.4% |
| Fixed assets | 21/28 | €3,367 | €642 | -€2,725 | -80.9% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €3,367 | €642 | -€2,725 | -80.9% |
| Plant, machinery and equipment | 23 | €1,321 | €642 | -€679 | -51.4% |
| Furniture and vehicles | 24 | €2,046 | - | -€2,046 | |
| Current assets | 29/58 | €161,461 | €166,544 | +€5,083 | +3.1% |
| Stocks and contracts in progress | 3 | €2,200 | €2,200 | = | 0.0% |
| Stocks | 30/36 | €2,200 | €2,200 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €58,714 | €50,826 | -€7,887 | -13.4% |
| Trade receivables | 40 | €55,995 | €46,051 | -€9,945 | -17.8% |
| Other amounts receivable | 41 | €2,718 | €4,775 | +€2,057 | +75.7% |
| Cash at bank and in hand | 54/58 | €100,547 | €113,518 | +€12,971 | +12.9% |
| Total equity and liabilities | 10/49 | €164,828 | €167,186 | +€2,358 | +1.4% |
| Equity | 10/15 | €12,697 | €14,857 | +€2,159 | +17.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €297 | €2,457 | +€2,159 | +726% |
| Amounts payable | 17/49 | €152,131 | €152,330 | +€199 | +0.1% |
| Amounts payable after more than one year | 17 | €65,692 | €65,692 | = | 0.0% |
| Financial debts | 170/4 | €65,692 | €65,692 | = | 0.0% |
| Amounts payable within one year | 42/48 | €73,678 | €73,902 | +€225 | +0.3% |
| Trade debts | 44 | €6,192 | €2,994 | -€3,198 | -51.6% |
| Suppliers | 440/4 | €6,192 | €2,994 | -€3,198 | -51.6% |
| Taxes, remuneration and social security | 45 | €4,127 | €7,549 | +€3,423 | +82.9% |
| Taxes | 450/3 | €4,127 | €7,549 | +€3,423 | +82.9% |
| Other amounts payable | 47/48 | €63,359 | €63,359 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €12,761 | €12,735 | -€26 | -0.2% |
| Turnover | 70 | €151,204 | €109,983 | -€41,221 | -27.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €109,028 | €102,694 | -€6,334 | -5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,155 | €2,725 | -€1,430 | -34.4% |
| Other operating charges | 640/8 | €568 | €1,142 | +€574 | +101% |
| Gross operating margin | 9900 | €42,828 | €7,290 | -€35,539 | -83.0% |
| Operating profit (loss) | 9901 | €38,105 | €3,423 | -€34,683 | -91.0% |
| Financial charges | 65/66B | €285 | €326 | +€41 | +14.4% |
| Recurring financial charges | 65 | €285 | €326 | +€41 | +14.4% |
| Profit (loss) for the period before taxes | 9903 | €37,820 | €3,096 | -€34,724 | -91.8% |
| Income taxes | 67/77 | €3,786 | €937 | -€2,849 | -75.3% |
| Profit (loss) for the period | 9904 | €34,034 | €2,159 | -€31,874 | -93.7% |
| Profit (loss) for the period to be appropriated | 9905 | €34,034 | €2,159 | -€31,874 | -93.7% |
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 17 October 2026 via checked.be.