M.L.C.S.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.
What changed
M.L.C.S.M.
NACE 55.100, Hotels and similar accommodation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€62,994
2024 · -€57,466-€5,528
Equity
-€150,485
2024 · -€87,491-€62,994
Cash
€4,446
2024 · €5,660-€1,214
Balance sheet total
€787,019
2024 · €841,867-€54,848
Largest movements
Assets
- Tangible fixed assets -€63,947
down €63,947 (-8.2%), from €784,113 to €720,165
of which Land and buildings: -€35,642
- Receivables within one year +€12,424
up €12,424 (+34.2%), from €36,317 to €48,741
of which Trade receivables: +€18,713
Equity and liabilities
- Profit (loss) carried forward -€62,994
down €62,994 (-28.3%), from -€222,589 to -€285,583
- Trade debts +€29,697
up €29,697 (+83.0%), from €35,791 to €65,488
- Debts after one year -€19,201
down €19,201 (-5.5%), from €351,617 to €332,416
of which Financial debts: -€28,801
Income statement
- Gross operating margin +€8,152
up €8,152 (+35.9%), from €22,737 to €30,890
- Other operating charges -€1,051
down €1,051 (-9.3%), from €11,286 to €10,235
- Financial charges -€317
down €317 (-1.9%), from €16,906 to €16,588
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.
Result 2024
-€57,466
Gross operating margin
+€8,152
Depreciation
-€72
Other operating charges
+€1,051
Financial income
-€10
Financial charges
+€317
Taxes
+€7
Deferred taxes and other
-€14,973
Result 2025
-€62,994
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€20,318
Investment
-€3,000
Financing
-€18,532
Cash 2024
€5,660
From operations (derived)
+€20,318
Net result for the year
-€62,994
Depreciation
+€67,065
Receivables within one year
-€12,424
Deferred charges and accrued income
+€1,993
Trade debts
+€29,697
Tax, wage and social debts
-€53
Advances received
+€3,000
Other debts
-€5,795
Accrued charges and deferred income
-€171
Investment (derived)
-€3,000
Investment in fixed assets (net)
-€3,000
Financing
-€18,532
Debts after one year
-€19,201
Current portion of long-term debt
+€669
Cash 2025
€4,446
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €841,867 | €787,019 | -€54,848 | -6.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €788,537 | €724,473 | -€64,065 | -8.1% |
| Intangible fixed assets | 21 | €545 | €427 | -€117 | -21.5% |
| Tangible fixed assets | 22/27 | €784,113 | €720,165 | -€63,947 | -8.2% |
| Land and buildings | 22 | €644,247 | €608,605 | -€35,642 | -5.5% |
| Plant, machinery and equipment | 23 | €116,976 | €94,236 | -€22,739 | -19.4% |
| Furniture and vehicles | 24 | €22,890 | €17,324 | -€5,566 | -24.3% |
| Financial fixed assets | 28 | €3,880 | €3,880 | = | 0.0% |
| Current assets | 29/58 | €53,330 | €62,547 | +€9,217 | +17.3% |
| Amounts receivable within one year | 40/41 | €36,317 | €48,741 | +€12,424 | +34.2% |
| Trade receivables | 40 | €29,156 | €47,869 | +€18,713 | +64.2% |
| Other amounts receivable | 41 | €7,161 | €872 | -€6,289 | -87.8% |
| Cash at bank and in hand | 54/58 | €5,660 | €4,446 | -€1,214 | -21.5% |
| Deferred charges and accrued income | 490/1 | €11,353 | €9,360 | -€1,993 | -17.6% |
| Total equity and liabilities | 10/49 | €841,867 | €787,019 | -€54,848 | -6.5% |
| Equity | 10/15 | -€87,491 | -€150,485 | -€62,994 | -72.0% |
| Contributions | 10/11 | €21,000 | €21,000 | = | 0.0% |
| Reserves | 13 | €114,098 | €114,098 | = | 0.0% |
| Tax-exempt reserves | 132 | €114,098 | €114,098 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€222,589 | -€285,583 | -€62,994 | -28.3% |
| Investment grants | 15 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €38,033 | €38,033 | = | 0.0% |
| Deferred taxes | 168 | €38,033 | €38,033 | = | 0.0% |
| Amounts payable | 17/49 | €891,325 | €899,472 | +€8,146 | +0.9% |
| Amounts payable after more than one year | 17 | €351,617 | €332,416 | -€19,201 | -5.5% |
| Financial debts | 170/4 | €351,617 | €322,816 | -€28,801 | -8.2% |
| Other amounts payable | 178/9 | - | €9,600 | +€9,600 | |
| Amounts payable within one year | 42/48 | €536,736 | €564,255 | +€27,518 | +5.1% |
| Current portion of amounts payable after more than one year | 42 | €28,902 | €29,571 | +€669 | +2.3% |
| Trade debts | 44 | €35,791 | €65,488 | +€29,697 | +83.0% |
| Suppliers | 440/4 | €35,791 | €65,488 | +€29,697 | +83.0% |
| Advances received on contracts in progress | 46 | - | €3,000 | +€3,000 | |
| Taxes, remuneration and social security | 45 | €56 | €3 | -€53 | -95.1% |
| Taxes | 450/3 | €56 | €3 | -€53 | -95.1% |
| Other amounts payable | 47/48 | €471,988 | €466,193 | -€5,795 | -1.2% |
| Accrued charges and deferred income | 492/3 | €2,972 | €2,801 | -€171 | -5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,992 | €67,065 | +€72 | +0.1% |
| Other operating charges | 640/8 | €11,286 | €10,235 | -€1,051 | -9.3% |
| Gross operating margin | 9900 | €22,737 | €30,890 | +€8,152 | +35.9% |
| Operating profit (loss) | 9901 | -€55,541 | -€46,410 | +€9,131 | +16.4% |
| Financial income | 75/76B | €11 | €1 | -€10 | -90.9% |
| Recurring financial income | 75 | €11 | €1 | -€10 | -90.9% |
| Financial charges | 65/66B | €16,906 | €16,588 | -€317 | -1.9% |
| Recurring financial charges | 65 | €16,906 | €16,588 | -€317 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | -€72,435 | -€62,997 | +€9,438 | +13.0% |
| Transfer from deferred taxes | 780 | €14,973 | - | -€14,973 | |
| Income taxes | 67/77 | €3 | -€3 | -€7 | |
| Profit (loss) for the period | 9904 | -€57,466 | -€62,994 | -€5,528 | -9.6% |
| Transfer from tax-exempt reserves | 789 | €44,918 | - | -€44,918 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,547 | -€62,994 | -€50,447 | -402% |
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 1 November 2026 via checked.be.