M & K GENERALE: 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 GENERALE
Largest movements
- Cash -€52,040
down €52,040 (-57.1%), from €91,179 to €39,139
mainly Receivables within one year (-€42,824) and Other debts (-€15,550)
- Receivables within one year +€42,824
up €42,824 (+93.5%), from €45,788 to €88,612
of which Trade receivables: +€41,711
- Tangible fixed assets -€8,096
down €8,096 (-34.9%), from €23,177 to €15,081
of which Leasing and similar rights: -€9,090
- Other debts -€15,550
down €15,550 (-86.4%), from €18,000 to €2,450
- Trade debts +€13,017
up €13,017 (+221%), from €5,880 to €18,897
- Tax, wage and social debts -€11,668
down €11,668 (-59.4%), from €19,657 to €7,989
of which Taxes: -€18,679
- Debts after one year -€9,339
no longer reported in 2025 (was €9,339)
- Profit (loss) carried forward +€3,285
up €3,285 (+3.2%), from €102,110 to €105,395
- Gross operating margin -€57,035
down €57,035 (-71.1%), from €80,263 to €23,227
- Taxes -€10,714
down €10,714 (-91.6%), from €11,691 to €977
- Depreciation -€2,383
down €2,383 (-14.8%), from €16,056 to €13,673
- Financial charges +€1,839
up €1,839 (+69.4%), from €2,651 to €4,490
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 | €169,257 | €150,825 | -€18,432 | -10.9% |
| Fixed assets | 21/28 | €27,677 | €19,581 | -€8,096 | -29.3% |
| Tangible fixed assets | 22/27 | €23,177 | €15,081 | -€8,096 | -34.9% |
| Plant, machinery and equipment | 23 | €4,005 | €5,907 | +€1,901 | +47.5% |
| Furniture and vehicles | 24 | €1,291 | €383 | -€907 | -70.3% |
| Leasing and similar rights | 25 | €17,881 | €8,791 | -€9,090 | -50.8% |
| Financial fixed assets | 28 | €4,500 | €4,500 | = | 0.0% |
| Current assets | 29/58 | €141,579 | €131,244 | -€10,335 | -7.3% |
| Amounts receivable within one year | 40/41 | €45,788 | €88,612 | +€42,824 | +93.5% |
| Trade receivables | 40 | €17,796 | €59,508 | +€41,711 | +234% |
| Other amounts receivable | 41 | €27,991 | €29,104 | +€1,113 | +4.0% |
| Cash at bank and in hand | 54/58 | €91,179 | €39,139 | -€52,040 | -57.1% |
| Deferred charges and accrued income | 490/1 | €4,612 | €3,493 | -€1,120 | -24.3% |
| Total equity and liabilities | 10/49 | €169,257 | €150,825 | -€18,432 | -10.9% |
| Equity | 10/15 | €108,865 | €112,150 | +€3,285 | +3.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €555 | €555 | = | 0.0% |
| Non-distributable reserves | 130/1 | €555 | €555 | = | 0.0% |
| Reserves not available under the articles | 1311 | €555 | €555 | = | 0.0% |
| Profit (loss) carried forward | 14 | €102,110 | €105,395 | +€3,285 | +3.2% |
| Amounts payable | 17/49 | €60,392 | €38,675 | -€21,717 | -36.0% |
| Amounts payable after more than one year | 17 | €9,339 | - | -€9,339 | |
| Financial debts | 170/4 | €9,339 | - | -€9,339 | |
| Amounts payable within one year | 42/48 | €51,052 | €38,675 | -€12,377 | -24.2% |
| Current portion of amounts payable after more than one year | 42 | €7,516 | €9,339 | +€1,823 | +24.3% |
| Trade debts | 44 | €5,880 | €18,897 | +€13,017 | +221% |
| Suppliers | 440/4 | €5,880 | €18,897 | +€13,017 | +221% |
| Taxes, remuneration and social security | 45 | €19,657 | €7,989 | -€11,668 | -59.4% |
| Taxes | 450/3 | €19,657 | €977 | -€18,679 | -95.0% |
| Remuneration and social security | 454/9 | - | €7,011 | +€7,011 | |
| Other amounts payable | 47/48 | €18,000 | €2,450 | -€15,550 | -86.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,056 | €13,673 | -€2,383 | -14.8% |
| Other operating charges | 640/8 | €1,091 | €858 | -€233 | -21.4% |
| Gross operating margin | 9900 | €80,263 | €23,227 | -€57,035 | -71.1% |
| Operating profit (loss) | 9901 | €63,115 | €8,696 | -€54,419 | -86.2% |
| Financial income | 75/76B | €404 | €56 | -€348 | -86.2% |
| Recurring financial income | 75 | €404 | €16 | -€388 | -96.1% |
| Non-recurring financial income | 76B | - | €40 | +€40 | |
| Financial charges | 65/66B | €2,651 | €4,490 | +€1,839 | +69.4% |
| Recurring financial charges | 65 | €2,651 | €4,490 | +€1,839 | +69.4% |
| Profit (loss) for the period before taxes | 9903 | €60,869 | €4,262 | -€56,607 | -93.0% |
| Income taxes | 67/77 | €11,691 | €977 | -€10,714 | -91.6% |
| Profit (loss) for the period | 9904 | €49,178 | €3,285 | -€45,892 | -93.3% |
| Profit (loss) for the period to be appropriated | 9905 | €49,178 | €3,285 | -€45,892 | -93.3% |
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 30 October 2026 via checked.be.