M.P.'S.: 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.'S.
Largest movements
- Stocks and contracts -€201,542
down €201,542 (-73.5%), from €274,084 to €72,542
- Current investments +€62,000
new in 2025: €62,000
- Receivables within one year -€46,564
down €46,564 (-39.0%), from €119,407 to €72,843
of which Trade receivables: -€44,261
- Cash -€22,465
down €22,465 (-92.3%), from €24,350 to €1,885
mainly Current portion of long-term debt (-€174,821) and Current investments (-€62,000)
- Tangible fixed assets -€6,989
down €6,989 (-14.9%), from €46,942 to €39,953
of which Leasing and similar rights: -€4,103
- Current portion of long-term debt -€174,821
down €174,821 (-71.3%), from €245,031 to €70,210
- Tax, wage and social debts -€23,871
down €23,871 (-55.5%), from €42,974 to €19,103
- Trade debts -€18,976
down €18,976 (-73.2%), from €25,909 to €6,933
- Reserves +€9,107
up €9,107 (+11.9%), from €76,550 to €85,658
of which Distributable reserves: +€9,107
- Debts after one year -€9,085
down €9,085 (-22.9%), from €39,643 to €30,558
of which Financial debts: -€7,710
- Taxes +€10,744
up €10,744 (+146%), from €7,375 to €18,119
- Other operating charges +€7,386
up €7,386 (+23.5%), from €31,425 to €38,811
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 | €467,628 | €254,479 | -€213,149 | -45.6% |
| Fixed assets | 21/28 | €46,942 | €39,953 | -€6,989 | -14.9% |
| Tangible fixed assets | 22/27 | €46,942 | €39,953 | -€6,989 | -14.9% |
| Land and buildings | 22 | €30,409 | €28,689 | -€1,720 | -5.7% |
| Plant, machinery and equipment | 23 | €3,730 | €3,247 | -€483 | -12.9% |
| Furniture and vehicles | 24 | €3,219 | €2,536 | -€683 | -21.2% |
| Leasing and similar rights | 25 | €7,835 | €3,732 | -€4,103 | -52.4% |
| Other tangible fixed assets | 26 | €1,750 | €1,750 | = | 0.0% |
| Current assets | 29/58 | €420,686 | €214,526 | -€206,160 | -49.0% |
| Stocks and contracts in progress | 3 | €274,084 | €72,542 | -€201,542 | -73.5% |
| Stocks | 30/36 | €274,084 | €72,542 | -€201,542 | -73.5% |
| Amounts receivable within one year | 40/41 | €119,407 | €72,843 | -€46,564 | -39.0% |
| Trade receivables | 40 | €75,248 | €30,987 | -€44,261 | -58.8% |
| Other amounts receivable | 41 | €44,159 | €41,855 | -€2,303 | -5.2% |
| Current investments | 50/53 | - | €62,000 | +€62,000 | |
| Cash at bank and in hand | 54/58 | €24,350 | €1,885 | -€22,465 | -92.3% |
| Deferred charges and accrued income | 490/1 | €2,846 | €5,256 | +€2,410 | +84.7% |
| Total equity and liabilities | 10/49 | €467,628 | €254,479 | -€213,149 | -45.6% |
| Equity | 10/15 | €113,716 | €122,823 | +€9,107 | +8.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €76,550 | €85,658 | +€9,107 | +11.9% |
| Tax-exempt reserves | 132 | €7,300 | €7,300 | = | 0.0% |
| Distributable reserves | 133 | €69,250 | €78,358 | +€9,107 | +13.2% |
| Profit (loss) carried forward | 14 | €18,574 | €18,574 | = | 0.0% |
| Amounts payable | 17/49 | €353,912 | €131,656 | -€222,256 | -62.8% |
| Amounts payable after more than one year | 17 | €39,643 | €30,558 | -€9,085 | -22.9% |
| Financial debts | 170/4 | €38,268 | €30,558 | -€7,710 | -20.1% |
| Other amounts payable | 178/9 | €1,375 | - | -€1,375 | |
| Amounts payable within one year | 42/48 | €314,135 | €100,796 | -€213,339 | -67.9% |
| Current portion of amounts payable after more than one year | 42 | €245,031 | €70,210 | -€174,821 | -71.3% |
| Financial debts | 43 | €221 | - | -€221 | |
| Credit institutions | 430/8 | €221 | - | -€221 | |
| Trade debts | 44 | €25,909 | €6,933 | -€18,976 | -73.2% |
| Suppliers | 440/4 | €25,909 | €6,933 | -€18,976 | -73.2% |
| Taxes, remuneration and social security | 45 | €42,974 | €19,103 | -€23,871 | -55.5% |
| Taxes | 450/3 | €42,974 | €19,103 | -€23,871 | -55.5% |
| Other amounts payable | 47/48 | - | €4,550 | +€4,550 | |
| Accrued charges and deferred income | 492/3 | €134 | €301 | +€167 | +125% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,340 | €8,862 | -€478 | -5.1% |
| Other operating charges | 640/8 | €31,425 | €38,811 | +€7,386 | +23.5% |
| Gross operating margin | 9900 | €74,884 | €75,072 | +€188 | +0.3% |
| Operating profit (loss) | 9901 | €34,119 | €27,399 | -€6,720 | -19.7% |
| Financial income | 75/76B | €1,691 | €1,723 | +€32 | +1.9% |
| Recurring financial income | 75 | €1,691 | €1,723 | +€32 | +1.9% |
| Financial charges | 65/66B | €1,962 | €1,896 | -€66 | -3.3% |
| Recurring financial charges | 65 | €1,962 | €1,896 | -€66 | -3.3% |
| Profit (loss) for the period before taxes | 9903 | €33,848 | €27,226 | -€6,622 | -19.6% |
| Income taxes | 67/77 | €7,375 | €18,119 | +€10,744 | +146% |
| Profit (loss) for the period | 9904 | €26,474 | €9,107 | -€17,366 | -65.6% |
| Profit (loss) for the period to be appropriated | 9905 | €26,474 | €9,107 | -€17,366 | -65.6% |
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 17 October 2026 via checked.be.