M.K.M.: 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.M.
Largest movements
- Current investments +€95,080
up €95,080 (+29.1%), from €326,747 to €421,827
- Cash -€83,039
down €83,039 (-57.3%), from €144,811 to €61,771
mainly Current investments (-€95,080) and Investment in fixed assets (net) (-€37,059)
- Tangible fixed assets +€25,200
up €25,200 (+298%), from €8,470 to €33,670
- Reserves +€29,554
up €29,554 (+6.7%), from €440,385 to €469,940
of which Distributable reserves: +€29,554
- Other debts +€5,674
up €5,674 (+18.5%), from €30,657 to €36,331
- Financial charges +€19,190
up €19,190, from -€14,145 to €5,045
- Financial income +€16,059
up €16,059 (+429%), from €3,740 to €19,799
- Depreciation +€5,648
up €5,648 (+90.9%), from €6,211 to €11,859
- Taxes -€1,199
down €1,199 (-10.1%), from €11,861 to €10,662
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 | €497,037 | €532,393 | +€35,356 | +7.1% |
| Fixed assets | 21/28 | €8,470 | €33,670 | +€25,200 | +298% |
| Tangible fixed assets | 22/27 | €8,470 | €33,670 | +€25,200 | +298% |
| Furniture and vehicles | 24 | €8,470 | €33,670 | +€25,200 | +298% |
| Current assets | 29/58 | €488,566 | €498,723 | +€10,156 | +2.1% |
| Amounts receivable within one year | 40/41 | €16,359 | €12,095 | -€4,264 | -26.1% |
| Trade receivables | 40 | €14,601 | €12,095 | -€2,506 | -17.2% |
| Other amounts receivable | 41 | €1,758 | €0 | -€1,758 | -100% |
| Current investments | 50/53 | €326,747 | €421,827 | +€95,080 | +29.1% |
| Cash at bank and in hand | 54/58 | €144,811 | €61,771 | -€83,039 | -57.3% |
| Deferred charges and accrued income | 490/1 | €649 | €3,029 | +€2,379 | +366% |
| Total equity and liabilities | 10/49 | €497,037 | €532,393 | +€35,356 | +7.1% |
| Equity | 10/15 | €452,785 | €482,340 | +€29,554 | +6.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €440,385 | €469,940 | +€29,554 | +6.7% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €438,526 | €468,080 | +€29,554 | +6.7% |
| Amounts payable | 17/49 | €44,252 | €50,053 | +€5,802 | +13.1% |
| Amounts payable within one year | 42/48 | €42,466 | €47,033 | +€4,566 | +10.8% |
| Trade debts | 44 | €571 | €3,305 | +€2,734 | +479% |
| Suppliers | 440/4 | €571 | €3,305 | +€2,734 | +479% |
| Taxes, remuneration and social security | 45 | €11,238 | €7,396 | -€3,842 | -34.2% |
| Taxes | 450/3 | €11,238 | €7,396 | -€3,842 | -34.2% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €30,657 | €36,331 | +€5,674 | +18.5% |
| Accrued charges and deferred income | 492/3 | €1,785 | €3,020 | +€1,235 | +69.2% |
| Non-recurring operating income | 76A | €0 | €2,933 | +€2,933 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,211 | €11,859 | +€5,648 | +90.9% |
| Other operating charges | 640/8 | €848 | €737 | -€111 | -13.1% |
| Gross operating margin | 9900 | €37,729 | €38,059 | +€330 | +0.9% |
| Operating profit (loss) | 9901 | €30,669 | €25,462 | -€5,206 | -17.0% |
| Financial income | 75/76B | €3,740 | €19,799 | +€16,059 | +429% |
| Recurring financial income | 75 | €3,740 | €19,799 | +€16,059 | +429% |
| Financial charges | 65/66B | -€14,145 | €5,045 | +€19,190 | |
| Recurring financial charges | 65 | -€14,145 | €5,045 | +€19,190 | |
| Profit (loss) for the period before taxes | 9903 | €48,553 | €40,216 | -€8,337 | -17.2% |
| Income taxes | 67/77 | €11,861 | €10,662 | -€1,199 | -10.1% |
| Profit (loss) for the period | 9904 | €36,692 | €29,554 | -€7,138 | -19.5% |
| Profit (loss) for the period to be appropriated | 9905 | €36,692 | €29,554 | -€7,138 | -19.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.