M.K.B.: 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.K.B.
Largest movements
- Tangible fixed assets -€35,756
down €35,756 (-3.7%), from €966,144 to €930,387
of which Land and buildings: -€28,676
- Cash -€21,838
down €21,838 (-22.4%), from €97,515 to €75,677
mainly Trade debts (-€58,686) and Debts after one year (-€55,142)
- Profit (loss) carried forward +€74,267
up €74,267 (+18.6%), from €399,198 to €473,465
- Trade debts -€58,686
down €58,686 (-87.5%), from €67,080 to €8,394
- Debts after one year -€55,142
down €55,142 (-14.9%), from €369,311 to €314,169
of which Financial debts: -€55,142
- Accrued charges and deferred income -€49,140
no longer reported in 2025 (was €49,140)
- Tax, wage and social debts +€23,542
new in 2025: €23,542
- Taxes +€25,479
up €25,479 (+1,235%), from €2,063 to €27,542
- Gross operating margin +€17,272
up €17,272 (+8.3%), from €207,074 to €224,346
- Other operating charges -€4,580
down €4,580 (-5.5%), from €83,171 to €78,590
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 | €1,105,610 | €1,036,244 | -€69,366 | -6.3% |
| Fixed assets | 21/28 | €966,144 | €930,387 | -€35,756 | -3.7% |
| Tangible fixed assets | 22/27 | €966,144 | €930,387 | -€35,756 | -3.7% |
| Land and buildings | 22 | €921,786 | €893,110 | -€28,676 | -3.1% |
| Other tangible fixed assets | 26 | €44,358 | €37,277 | -€7,081 | -16.0% |
| Current assets | 29/58 | €139,466 | €105,856 | -€33,609 | -24.1% |
| Amounts receivable within one year | 40/41 | €1,937 | €1,000 | -€937 | -48.4% |
| Other amounts receivable | 41 | €1,937 | €1,000 | -€937 | -48.4% |
| Cash at bank and in hand | 54/58 | €97,515 | €75,677 | -€21,838 | -22.4% |
| Deferred charges and accrued income | 490/1 | €40,014 | €29,179 | -€10,835 | -27.1% |
| Total equity and liabilities | 10/49 | €1,105,610 | €1,036,244 | -€69,366 | -6.3% |
| Equity | 10/15 | €467,369 | €541,636 | +€74,267 | +15.9% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €6,197 | €6,197 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | €399,198 | €473,465 | +€74,267 | +18.6% |
| Amounts payable | 17/49 | €638,241 | €494,608 | -€143,633 | -22.5% |
| Amounts payable after more than one year | 17 | €369,311 | €314,169 | -€55,142 | -14.9% |
| Financial debts | 170/4 | €358,561 | €303,419 | -€55,142 | -15.4% |
| Other amounts payable | 178/9 | €10,750 | €10,750 | = | 0.0% |
| Amounts payable within one year | 42/48 | €219,789 | €180,438 | -€39,351 | -17.9% |
| Current portion of amounts payable after more than one year | 42 | €55,064 | €56,167 | +€1,103 | +2.0% |
| Trade debts | 44 | €67,080 | €8,394 | -€58,686 | -87.5% |
| Suppliers | 440/4 | €67,080 | €8,394 | -€58,686 | -87.5% |
| Taxes, remuneration and social security | 45 | - | €23,542 | +€23,542 | |
| Taxes | 450/3 | - | €23,542 | +€23,542 | |
| Other amounts payable | 47/48 | €97,646 | €92,335 | -€5,311 | -5.4% |
| Accrued charges and deferred income | 492/3 | €49,140 | - | -€49,140 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,203 | €35,756 | -€447 | -1.2% |
| Other operating charges | 640/8 | €83,171 | €78,590 | -€4,580 | -5.5% |
| Gross operating margin | 9900 | €207,074 | €224,346 | +€17,272 | +8.3% |
| Operating profit (loss) | 9901 | €87,700 | €109,999 | +€22,299 | +25.4% |
| Financial income | 75/76B | - | €68 | +€68 | |
| Recurring financial income | 75 | - | €68 | +€68 | |
| Financial charges | 65/66B | €9,518 | €8,258 | -€1,260 | -13.2% |
| Recurring financial charges | 65 | €9,518 | €8,258 | -€1,260 | -13.2% |
| Profit (loss) for the period before taxes | 9903 | €78,182 | €101,809 | +€23,627 | +30.2% |
| Income taxes | 67/77 | €2,063 | €27,542 | +€25,479 | +1,235% |
| Profit (loss) for the period | 9904 | €76,118 | €74,267 | -€1,852 | -2.4% |
| Profit (loss) for the period to be appropriated | 9905 | €76,118 | €74,267 | -€1,852 | -2.4% |
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 13 October 2026 via checked.be.