M-PROTECTION SECURITY: 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-PROTECTION SECURITY
Largest movements
- Receivables within one year +€73,924
up €73,924 (+92.9%), from €79,569 to €153,493
of which Trade receivables: +€77,165
- Financial fixed assets +€12,500
up €12,500 (+100%), from €12,500 to €25,000
- Tax, wage and social debts +€65,230
up €65,230 (+104%), from €62,653 to €127,883
of which Remuneration and social security: +€45,416
- Reserves +€25,153
up €25,153 (+69.4%), from €36,256 to €61,409
of which Distributable reserves: +€25,281
- Trade debts -€10,302
down €10,302 (-56.0%), from €18,392 to €8,090
- Profit (loss) carried forward +€5,393
up €5,393, from -€5,393 to €0
- Gross operating margin +€200,756
up €200,756 (+59.3%), from €338,772 to €539,528
- Staff costs +€137,600
up €137,600 (+41.7%), from €329,923 to €467,524
- Taxes +€17,497
up €17,497 (+1,210%), from €1,446 to €18,943
- Other operating charges +€17,201
up €17,201 (+551%), from €3,125 to €20,326
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 | €140,561 | €227,578 | +€87,017 | +61.9% |
| Fixed assets | 21/28 | €13,522 | €25,477 | +€11,955 | +88.4% |
| Tangible fixed assets | 22/27 | €1,022 | €477 | -€545 | -53.3% |
| Plant, machinery and equipment | 23 | €1,022 | €477 | -€545 | -53.3% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Leasing and similar rights | 25 | €0 | - | = | |
| Financial fixed assets | 28 | €12,500 | €25,000 | +€12,500 | +100% |
| Current assets | 29/58 | €127,040 | €202,101 | +€75,061 | +59.1% |
| Amounts receivable within one year | 40/41 | €79,569 | €153,493 | +€73,924 | +92.9% |
| Trade receivables | 40 | €74,238 | €151,403 | +€77,165 | +104% |
| Other amounts receivable | 41 | €5,331 | €2,090 | -€3,241 | -60.8% |
| Cash at bank and in hand | 54/58 | €46,941 | €48,069 | +€1,128 | +2.4% |
| Deferred charges and accrued income | 490/1 | €529 | €539 | +€10 | +1.9% |
| Total equity and liabilities | 10/49 | €140,561 | €227,578 | +€87,017 | +61.9% |
| Equity | 10/15 | €49,463 | €80,009 | +€30,546 | +61.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €36,256 | €61,409 | +€25,153 | +69.4% |
| Non-distributable reserves | 130/1 | €128 | €0 | -€128 | -100% |
| Reserves not available under the articles | 1311 | €128 | €0 | -€128 | -100% |
| Distributable reserves | 133 | €36,128 | €61,409 | +€25,281 | +70.0% |
| Profit (loss) carried forward | 14 | -€5,393 | €0 | +€5,393 | |
| Amounts payable | 17/49 | €91,099 | €147,569 | +€56,470 | +62.0% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €91,099 | €147,569 | +€56,470 | +62.0% |
| Current portion of amounts payable after more than one year | 42 | €7,663 | €7,282 | -€381 | -5.0% |
| Trade debts | 44 | €18,392 | €8,090 | -€10,302 | -56.0% |
| Suppliers | 440/4 | €18,392 | €8,090 | -€10,302 | -56.0% |
| Taxes, remuneration and social security | 45 | €62,653 | €127,883 | +€65,230 | +104% |
| Taxes | 450/3 | €20,180 | €39,994 | +€19,814 | +98.2% |
| Remuneration and social security | 454/9 | €42,473 | €87,889 | +€45,416 | +107% |
| Other amounts payable | 47/48 | €2,391 | €4,314 | +€1,923 | +80.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €329,923 | €467,524 | +€137,600 | +41.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,512 | €545 | -€4,967 | -90.1% |
| Other operating charges | 640/8 | €3,125 | €20,326 | +€17,201 | +551% |
| Non-recurring operating charges | 66A | €2,623 | €0 | -€2,623 | -100% |
| Gross operating margin | 9900 | €338,772 | €539,528 | +€200,756 | +59.3% |
| Operating profit (loss) | 9901 | -€2,411 | €51,134 | +€53,544 | |
| Financial income | 75/76B | €5 | €1 | -€5 | -89.5% |
| Recurring financial income | 75 | €5 | €1 | -€5 | -89.5% |
| Financial charges | 65/66B | €1,541 | €1,645 | +€104 | +6.7% |
| Recurring financial charges | 65 | €1,541 | €1,645 | +€104 | +6.7% |
| Profit (loss) for the period before taxes | 9903 | -€3,947 | €49,489 | +€53,436 | |
| Income taxes | 67/77 | €1,446 | €18,943 | +€17,497 | +1,210% |
| Profit (loss) for the period | 9904 | -€5,393 | €30,546 | +€35,939 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,393 | €30,546 | +€35,939 |
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 15 October 2026 via checked.be.