M-CARE: 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-CARE
Largest movements
- Cash +€146,104
up €146,104 (+733%), from €19,922 to €166,026
mainly Other debts (+€112,021) and Current investments (+€110,000)
- Current investments -€110,000
down €110,000 (-100%), from €110,000 to €0
- Tangible fixed assets -€13,719
down €13,719 (-6.1%), from €224,968 to €211,249
- Other debts +€112,021
up €112,021 (+3,596%), from €3,116 to €115,136
- Reserves -€77,151
down €77,151 (-60.5%), from €127,423 to €50,272
- Debts after one year -€12,808
down €12,808 (-6.8%), from €188,718 to €175,909
- Trade debts +€9,079
up €9,079 (+2,287%), from €397 to €9,476
- Tax, wage and social debts -€4,366
down €4,366 (-12.9%), from €33,836 to €29,470
of which Taxes: -€4,289
- Gross operating margin -€12,355
down €12,355 (-11.8%), from €104,772 to €92,417
- Taxes -€5,529
down €5,529 (-27.3%), from €20,243 to €14,715
- Staff costs -€1,881
down €1,881 (-22.0%), from €8,541 to €6,661
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 | €374,419 | €398,072 | +€23,653 | +6.3% |
| Fixed assets | 21/28 | €224,968 | €211,249 | -€13,719 | -6.1% |
| Tangible fixed assets | 22/27 | €224,968 | €211,249 | -€13,719 | -6.1% |
| Land and buildings | 22 | €119,775 | €114,300 | -€5,475 | -4.6% |
| Plant, machinery and equipment | 23 | €96,826 | €93,226 | -€3,600 | -3.7% |
| Furniture and vehicles | 24 | €4,865 | €3,723 | -€1,142 | -23.5% |
| Leasing and similar rights | 25 | €3,503 | €0 | -€3,503 | -100% |
| Current assets | 29/58 | €149,451 | €186,822 | +€37,371 | +25.0% |
| Amounts receivable within one year | 40/41 | €15,737 | €15,324 | -€413 | -2.6% |
| Trade receivables | 40 | €15,737 | €11,705 | -€4,033 | -25.6% |
| Other amounts receivable | 41 | - | €3,620 | +€3,620 | |
| Current investments | 50/53 | €110,000 | €0 | -€110,000 | -100% |
| Cash at bank and in hand | 54/58 | €19,922 | €166,026 | +€146,104 | +733% |
| Deferred charges and accrued income | 490/1 | €3,792 | €5,472 | +€1,680 | +44.3% |
| Total equity and liabilities | 10/49 | €374,419 | €398,072 | +€23,653 | +6.3% |
| Equity | 10/15 | €132,423 | €55,272 | -€77,151 | -58.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €127,423 | €50,272 | -€77,151 | -60.5% |
| Distributable reserves | 133 | €127,423 | €50,272 | -€77,151 | -60.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €241,996 | €342,800 | +€100,804 | +41.7% |
| Amounts payable after more than one year | 17 | €188,718 | €175,909 | -€12,808 | -6.8% |
| Financial debts | 170/4 | €188,718 | €175,909 | -€12,808 | -6.8% |
| Amounts payable within one year | 42/48 | €53,231 | €166,890 | +€113,659 | +214% |
| Current portion of amounts payable after more than one year | 42 | €15,883 | €12,808 | -€3,075 | -19.4% |
| Trade debts | 44 | €397 | €9,476 | +€9,079 | +2,287% |
| Suppliers | 440/4 | €397 | €9,476 | +€9,079 | +2,287% |
| Taxes, remuneration and social security | 45 | €33,836 | €29,470 | -€4,366 | -12.9% |
| Taxes | 450/3 | €19,759 | €15,470 | -€4,289 | -21.7% |
| Remuneration and social security | 454/9 | €14,077 | €14,000 | -€77 | -0.6% |
| Other amounts payable | 47/48 | €3,116 | €115,136 | +€112,021 | +3,596% |
| Accrued charges and deferred income | 492/3 | €47 | €0 | -€47 | -100% |
| Remuneration, social security and pensions | 62 | €8,541 | €6,661 | -€1,881 | -22.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,672 | €18,686 | +€14 | +0.1% |
| Other operating charges | 640/8 | €501 | €516 | +€15 | +2.9% |
| Gross operating margin | 9900 | €104,772 | €92,417 | -€12,355 | -11.8% |
| Operating profit (loss) | 9901 | €77,057 | €66,554 | -€10,503 | -13.6% |
| Financial income | 75/76B | €2,421 | €1,642 | -€779 | -32.2% |
| Recurring financial income | 75 | €2,421 | €1,642 | -€779 | -32.2% |
| Financial charges | 65/66B | €3,023 | €3,209 | +€186 | +6.2% |
| Recurring financial charges | 65 | €3,023 | €3,209 | +€186 | +6.2% |
| Profit (loss) for the period before taxes | 9903 | €76,455 | €64,987 | -€11,468 | -15.0% |
| Income taxes | 67/77 | €20,243 | €14,715 | -€5,529 | -27.3% |
| Profit (loss) for the period | 9904 | €56,212 | €50,272 | -€5,940 | -10.6% |
| Profit (loss) for the period to be appropriated | 9905 | €56,212 | €50,272 | -€5,940 | -10.6% |
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 23 October 2026 via checked.be.