M.P.A.: 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.P.A.
Largest movements
- Tangible fixed assets +€1.5m
up €1.5m (+151%), from €985,119 to €2.5m
- Current investments -€1.0m
down €1.0m (-100%), from €1.0m to €0
- Other debts +€329,185
up €329,185 (+69.4%), from €474,416 to €803,601
- Profit (loss) carried forward +€122,696
up €122,696 (+12.0%), from €1.0m to €1.1m
- Financial income +€95,696
up €95,696 (+227%), from €42,154 to €137,850
- Gross operating margin +€9,646
up €9,646, from -€2,852 to €6,794
- Financial charges +€2,848
up €2,848 (+241%), from €1,180 to €4,028
- Other operating charges +€181
up €181 (+3.1%), from €5,846 to €6,027
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 | €2,035,260 | €2,486,560 | +€451,301 | +22.2% |
| Fixed assets | 21/28 | €985,119 | €2,473,214 | +€1.5m | +151% |
| Tangible fixed assets | 22/27 | €985,119 | €2,473,214 | +€1.5m | +151% |
| Land and buildings | 22 | €985,119 | €2,473,214 | +€1.5m | +151% |
| Current assets | 29/58 | €1,050,140 | €13,347 | -€1.0m | -98.7% |
| Amounts receivable within one year | 40/41 | €13,471 | €4,644 | -€8,827 | -65.5% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €13,471 | €4,644 | -€8,827 | -65.5% |
| Current investments | 50/53 | €1,015,029 | €0 | -€1.0m | -100% |
| Cash at bank and in hand | 54/58 | €21,640 | €8,702 | -€12,938 | -59.8% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €2,035,260 | €2,486,560 | +€451,301 | +22.2% |
| Equity | 10/15 | €1,560,264 | €1,682,960 | +€122,696 | +7.9% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €479,980 | €479,980 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,297 | €20,297 | = | 0.0% |
| Legal reserve | 130 | €20,297 | €20,297 | = | 0.0% |
| Tax-exempt reserves | 132 | €250,372 | €251,097 | +€725 | +0.3% |
| Distributable reserves | 133 | €209,311 | €208,586 | -€725 | -0.3% |
| Profit (loss) carried forward | 14 | €1,018,783 | €1,141,479 | +€122,696 | +12.0% |
| Amounts payable | 17/49 | €474,996 | €803,601 | +€328,605 | +69.2% |
| Amounts payable within one year | 42/48 | €474,996 | €803,601 | +€328,605 | +69.2% |
| Trade debts | 44 | €580 | €0 | -€580 | -100% |
| Suppliers | 440/4 | €580 | €0 | -€580 | -100% |
| Other amounts payable | 47/48 | €474,416 | €803,601 | +€329,185 | +69.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,893 | €11,893 | = | 0.0% |
| Other operating charges | 640/8 | €5,846 | €6,027 | +€181 | +3.1% |
| Non-recurring operating charges | 66A | €231,456 | €0 | -€231,456 | -100% |
| Gross operating margin | 9900 | -€2,852 | €6,794 | +€9,646 | |
| Operating profit (loss) | 9901 | -€252,046 | -€11,126 | +€240,920 | +95.6% |
| Financial income | 75/76B | €42,154 | €137,850 | +€95,696 | +227% |
| Recurring financial income | 75 | €42,154 | €137,850 | +€95,696 | +227% |
| Financial charges | 65/66B | €1,180 | €4,028 | +€2,848 | +241% |
| Recurring financial charges | 65 | €1,180 | €4,028 | +€2,848 | +241% |
| Profit (loss) for the period before taxes | 9903 | -€211,072 | €122,696 | +€333,767 | |
| Profit (loss) for the period | 9904 | -€211,072 | €122,696 | +€333,767 | |
| Profit (loss) for the period to be appropriated | 9905 | -€211,072 | €122,696 | +€333,767 |
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 13 October 2026 via checked.be.