M.C.S.: 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.S.
Largest movements
- Cash +€96,482
up €96,482 (+21.1%), from €457,769 to €554,251
mainly Net result for the year (+€65,793) and Current investments (+€22,771)
- Current investments -€22,771
down €22,771 (-31.2%), from €72,991 to €50,220
- Reserves +€65,793
up €65,793 (+22.3%), from €294,528 to €360,321
of which Distributable reserves: +€65,793
- Gross operating margin +€9,786
up €9,786 (+13.5%), from €72,266 to €82,053
- Taxes +€2,039
up €2,039 (+7.4%), from €27,671 to €29,710
- Financial charges -€932
down €932 (-41.8%), from -€2,233 to -€3,165
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 | €612,028 | €685,552 | +€73,524 | +12.0% |
| Current assets | 29/58 | €612,028 | €685,552 | +€73,524 | +12.0% |
| Amounts receivable within one year | 40/41 | €79,886 | €81,082 | +€1,195 | +1.5% |
| Trade receivables | 40 | €79,886 | €81,082 | +€1,195 | +1.5% |
| Current investments | 50/53 | €72,991 | €50,220 | -€22,771 | -31.2% |
| Cash at bank and in hand | 54/58 | €457,769 | €554,251 | +€96,482 | +21.1% |
| Deferred charges and accrued income | 490/1 | €1,382 | €0 | -€1,382 | -100% |
| Total equity and liabilities | 10/49 | €612,028 | €685,552 | +€73,524 | +12.0% |
| Equity | 10/15 | €601,771 | €667,564 | +€65,793 | +10.9% |
| Contributions | 10/11 | €307,243 | €307,243 | = | 0.0% |
| Reserves | 13 | €294,528 | €360,321 | +€65,793 | +22.3% |
| Non-distributable reserves | 130/1 | €31,984 | €31,984 | = | 0.0% |
| Reserves not available under the articles | 1311 | €31,984 | €31,984 | = | 0.0% |
| Distributable reserves | 133 | €262,544 | €328,337 | +€65,793 | +25.1% |
| Amounts payable | 17/49 | €10,257 | €17,988 | +€7,731 | +75.4% |
| Amounts payable within one year | 42/48 | €10,257 | €17,988 | +€7,731 | +75.4% |
| Trade debts | 44 | €2,952 | €9,037 | +€6,085 | +206% |
| Suppliers | 440/4 | €2,952 | €9,037 | +€6,085 | +206% |
| Taxes, remuneration and social security | 45 | €7,304 | €8,951 | +€1,647 | +22.5% |
| Taxes | 450/3 | €7,304 | €8,951 | +€1,647 | +22.5% |
| Other operating charges | 640/8 | €727 | €736 | +€8 | +1.2% |
| Gross operating margin | 9900 | €72,266 | €82,053 | +€9,786 | +13.5% |
| Operating profit (loss) | 9901 | €71,539 | €81,317 | +€9,778 | +13.7% |
| Financial income | 75/76B | €11,547 | €11,022 | -€526 | -4.6% |
| Recurring financial income | 75 | €11,547 | €11,022 | -€526 | -4.6% |
| Financial charges | 65/66B | -€2,233 | -€3,165 | -€932 | -41.8% |
| Recurring financial charges | 65 | -€2,233 | -€3,165 | -€932 | -41.8% |
| Profit (loss) for the period before taxes | 9903 | €85,319 | €95,504 | +€10,185 | +11.9% |
| Income taxes | 67/77 | €27,671 | €29,710 | +€2,039 | +7.4% |
| Profit (loss) for the period | 9904 | €57,648 | €65,793 | +€8,145 | +14.1% |
| Profit (loss) for the period to be appropriated | 9905 | €57,648 | €65,793 | +€8,145 | +14.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.