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
- Tangible fixed assets -€18,160
down €18,160 (-3.9%), from €465,297 to €447,138
of which Furniture and vehicles: -€46,047
- Cash -€14,983
down €14,983 (-63.3%), from €23,658 to €8,674
mainly Debts after one year (-€42,227) and Investment in fixed assets (net) (-€32,363)
- Debts after one year -€42,227
down €42,227 (-10.8%), from €390,386 to €348,159
of which Financial debts: -€37,227
- Reserves +€15,598
up €15,598 (+65.0%), from €24,006 to €39,604
- Other debts -€14,834
down €14,834 (-42.8%), from €34,661 to €19,827
- Gross operating margin +€10,960
up €10,960 (+15.4%), from €70,972 to €81,932
- Financial charges -€4,148
down €4,148 (-27.3%), from €15,171 to €11,022
of which Non-recurring financial charges: -€2,779
- Taxes +€3,145
up €3,145 (+897%), from €351 to €3,496
- Depreciation -€2,369
down €2,369 (-4.5%), from €52,891 to €50,523
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 | €499,899 | €460,885 | -€39,015 | -7.8% |
| Fixed assets | 21/28 | €465,297 | €447,138 | -€18,160 | -3.9% |
| Tangible fixed assets | 22/27 | €465,297 | €447,138 | -€18,160 | -3.9% |
| Plant, machinery and equipment | 23 | €9,221 | €15,715 | +€6,495 | +70.4% |
| Furniture and vehicles | 24 | €456,077 | €410,030 | -€46,047 | -10.1% |
| Other tangible fixed assets | 26 | - | €21,393 | +€21,393 | |
| Current assets | 29/58 | €34,602 | €13,747 | -€20,855 | -60.3% |
| Stocks and contracts in progress | 3 | €4,046 | €2,296 | -€1,749 | -43.2% |
| Stocks | 30/36 | €4,046 | €2,296 | -€1,749 | -43.2% |
| Amounts receivable within one year | 40/41 | €5,250 | €2,776 | -€2,474 | -47.1% |
| Trade receivables | 40 | €5,250 | €1,272 | -€3,978 | -75.8% |
| Other amounts receivable | 41 | €0 | €1,504 | +€1,504 | |
| Cash at bank and in hand | 54/58 | €23,658 | €8,674 | -€14,983 | -63.3% |
| Deferred charges and accrued income | 490/1 | €1,649 | €0 | -€1,649 | -100% |
| Total equity and liabilities | 10/49 | €499,899 | €460,885 | -€39,015 | -7.8% |
| Equity | 10/15 | €34,006 | €49,604 | +€15,598 | +45.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €24,006 | €39,604 | +€15,598 | +65.0% |
| Distributable reserves | 133 | €24,006 | €39,604 | +€15,598 | +65.0% |
| Amounts payable | 17/49 | €465,894 | €411,281 | -€54,613 | -11.7% |
| Amounts payable after more than one year | 17 | €390,386 | €348,159 | -€42,227 | -10.8% |
| Financial debts | 170/4 | €280,386 | €243,159 | -€37,227 | -13.3% |
| Other amounts payable | 178/9 | €110,000 | €105,000 | -€5,000 | -4.5% |
| Amounts payable within one year | 42/48 | €75,508 | €63,122 | -€12,386 | -16.4% |
| Current portion of amounts payable after more than one year | 42 | €36,188 | €37,227 | +€1,039 | +2.9% |
| Trade debts | 44 | €391 | €1,571 | +€1,180 | +301% |
| Suppliers | 440/4 | €391 | €1,571 | +€1,180 | +301% |
| Taxes, remuneration and social security | 45 | €4,268 | €4,497 | +€229 | +5.4% |
| Taxes | 450/3 | €4,268 | €4,497 | +€229 | +5.4% |
| Other amounts payable | 47/48 | €34,661 | €19,827 | -€14,834 | -42.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,891 | €50,523 | -€2,369 | -4.5% |
| Other operating charges | 640/8 | €1,823 | €1,399 | -€424 | -23.3% |
| Gross operating margin | 9900 | €70,972 | €81,932 | +€10,960 | +15.4% |
| Operating profit (loss) | 9901 | €16,258 | €30,011 | +€13,752 | +84.6% |
| Financial income | 75/76B | €4 | €106 | +€102 | +2,629% |
| Recurring financial income | 75 | €4 | €106 | +€102 | +2,629% |
| Financial charges | 65/66B | €15,171 | €11,022 | -€4,148 | -27.3% |
| Recurring financial charges | 65 | €12,392 | €11,022 | -€1,370 | -11.1% |
| Non-recurring financial charges | 66B | €2,779 | €0 | -€2,779 | -100% |
| Profit (loss) for the period before taxes | 9903 | €1,092 | €19,094 | +€18,003 | +1,649% |
| Income taxes | 67/77 | €351 | €3,496 | +€3,145 | +897% |
| Profit (loss) for the period | 9904 | €741 | €15,598 | +€14,857 | +2,005% |
| Profit (loss) for the period to be appropriated | 9905 | €741 | €15,598 | +€14,857 | +2,005% |
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 24 October 2026 via checked.be.