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
- Receivables within one year +€51,655
up €51,655 (+24.5%), from €211,108 to €262,763
of which Other amounts receivable: +€55,860
- Reserves +€43,522
up €43,522 (+38.5%), from €112,913 to €156,434
- Other debts +€20,035
up €20,035 (+16.7%), from €120,214 to €140,249
- Accrued charges and deferred income +€9,078
up €9,078 (+11,593%), from €78 to €9,156
- Debts after one year -€7,343
down €7,343 (-46.6%), from €15,770 to €8,428
- Current portion of long-term debt -€6,678
down €6,678 (-31.5%), from €21,182 to €14,504
- Gross operating margin +€15,855
up €15,855 (+32.2%), from €49,242 to €65,097
- Other operating charges +€4,304
up €4,304 (+284%), from €1,515 to €5,820
- Financial charges +€2,398
up €2,398 (+31.3%), from €7,651 to €10,048
- Financial income +€1,953
up €1,953 (+18.1%), from €10,772 to €12,726
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 | €334,231 | €387,210 | +€52,980 | +15.9% |
| Fixed assets | 21/28 | €123,123 | €121,321 | -€1,801 | -1.5% |
| Tangible fixed assets | 22/27 | €13,123 | €11,321 | -€1,801 | -13.7% |
| Plant, machinery and equipment | 23 | €12,182 | €10,694 | -€1,488 | -12.2% |
| Furniture and vehicles | 24 | €941 | €627 | -€314 | -33.3% |
| Financial fixed assets | 28 | €110,000 | €110,000 | = | 0.0% |
| Current assets | 29/58 | €211,108 | €265,889 | +€54,781 | +25.9% |
| Amounts receivable within one year | 40/41 | €211,108 | €262,763 | +€51,655 | +24.5% |
| Trade receivables | 40 | €4,205 | - | -€4,205 | |
| Other amounts receivable | 41 | €206,903 | €262,763 | +€55,860 | +27.0% |
| Cash at bank and in hand | 54/58 | - | €3,125 | +€3,125 | |
| Total equity and liabilities | 10/49 | €334,231 | €387,210 | +€52,980 | +15.9% |
| Equity | 10/15 | €126,613 | €170,134 | +€43,522 | +34.4% |
| Contributions | 10/11 | €13,700 | €13,700 | = | 0.0% |
| Reserves | 13 | €112,913 | €156,434 | +€43,522 | +38.5% |
| Distributable reserves | 133 | €112,913 | €156,434 | +€43,522 | +38.5% |
| Amounts payable | 17/49 | €207,618 | €217,076 | +€9,458 | +4.6% |
| Amounts payable after more than one year | 17 | €15,770 | €8,428 | -€7,343 | -46.6% |
| Financial debts | 170/4 | €15,770 | €8,428 | -€7,343 | -46.6% |
| Amounts payable within one year | 42/48 | €191,769 | €199,492 | +€7,723 | +4.0% |
| Current portion of amounts payable after more than one year | 42 | €21,182 | €14,504 | -€6,678 | -31.5% |
| Financial debts | 43 | €3,743 | - | -€3,743 | |
| Credit institutions | 430/8 | €3,743 | - | -€3,743 | |
| Trade debts | 44 | €22,783 | €21,444 | -€1,340 | -5.9% |
| Suppliers | 440/4 | €22,783 | €21,444 | -€1,340 | -5.9% |
| Taxes, remuneration and social security | 45 | €23,846 | €23,295 | -€551 | -2.3% |
| Taxes | 450/3 | €23,846 | €23,295 | -€551 | -2.3% |
| Other amounts payable | 47/48 | €120,214 | €140,249 | +€20,035 | +16.7% |
| Accrued charges and deferred income | 492/3 | €78 | €9,156 | +€9,078 | +11,593% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,655 | €1,801 | +€146 | +8.8% |
| Other operating charges | 640/8 | €1,515 | €5,820 | +€4,304 | +284% |
| Gross operating margin | 9900 | €49,242 | €65,097 | +€15,855 | +32.2% |
| Operating profit (loss) | 9901 | €46,072 | €57,477 | +€11,404 | +24.8% |
| Financial income | 75/76B | €10,772 | €12,726 | +€1,953 | +18.1% |
| Recurring financial income | 75 | €10,772 | €12,726 | +€1,953 | +18.1% |
| Financial charges | 65/66B | €7,651 | €10,048 | +€2,398 | +31.3% |
| Recurring financial charges | 65 | €7,651 | €10,048 | +€2,398 | +31.3% |
| Profit (loss) for the period before taxes | 9903 | €49,194 | €60,154 | +€10,960 | +22.3% |
| Income taxes | 67/77 | €17,199 | €16,632 | -€567 | -3.3% |
| Profit (loss) for the period | 9904 | €31,994 | €43,522 | +€11,527 | +36.0% |
| Profit (loss) for the period to be appropriated | 9905 | €31,994 | €43,522 | +€11,527 | +36.0% |
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.