MC²: 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.
MC²
Largest movements
- Receivables within one year -€47,970
down €47,970 (-27.3%), from €175,660 to €127,689
of which Trade receivables: -€58,528
- Tangible fixed assets -€3,509
down €3,509 (-10.1%), from €34,835 to €31,326
of which Furniture and vehicles: -€9,686
- Stocks and contracts +€3,143
up €3,143 (+92.9%), from €3,383 to €6,526
- Profit (loss) carried forward -€66,904
down €66,904 (-889%), from -€7,525 to -€74,430
- Other debts +€27,438
up €27,438 (+19.8%), from €138,517 to €165,955
- Debts after one year -€5,123
down €5,123 (-54.1%), from €9,475 to €4,353
- Gross operating margin -€60,338
down €60,338, from €9,202 to -€51,136
- Other operating charges +€1,433
up €1,433 (+100%), from €1,427 to €2,860
- Depreciation +€585
up €585 (+5.1%), from €11,518 to €12,103
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 | €224,587 | €178,051 | -€46,536 | -20.7% |
| Fixed assets | 21/28 | €37,760 | €34,251 | -€3,509 | -9.3% |
| Tangible fixed assets | 22/27 | €34,835 | €31,326 | -€3,509 | -10.1% |
| Plant, machinery and equipment | 23 | €2,043 | €8,962 | +€6,919 | +339% |
| Furniture and vehicles | 24 | €25,907 | €16,221 | -€9,686 | -37.4% |
| Other tangible fixed assets | 26 | €6,885 | €6,143 | -€743 | -10.8% |
| Financial fixed assets | 28 | €2,925 | €2,925 | = | 0.0% |
| Current assets | 29/58 | €186,827 | €143,800 | -€43,027 | -23.0% |
| Stocks and contracts in progress | 3 | €3,383 | €6,526 | +€3,143 | +92.9% |
| Stocks | 30/36 | €3,383 | €6,526 | +€3,143 | +92.9% |
| Amounts receivable within one year | 40/41 | €175,660 | €127,689 | -€47,970 | -27.3% |
| Trade receivables | 40 | €165,587 | €107,059 | -€58,528 | -35.3% |
| Other amounts receivable | 41 | €10,073 | €20,631 | +€10,558 | +105% |
| Cash at bank and in hand | 54/58 | €1,413 | €1,987 | +€574 | +40.6% |
| Deferred charges and accrued income | 490/1 | €6,371 | €7,598 | +€1,227 | +19.3% |
| Total equity and liabilities | 10/49 | €224,587 | €178,051 | -€46,536 | -20.7% |
| Equity | 10/15 | €69,223 | €2,319 | -€66,904 | -96.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €70,549 | €70,549 | = | 0.0% |
| Tax-exempt reserves | 132 | €412 | €412 | = | 0.0% |
| Distributable reserves | 133 | €70,136 | €70,136 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,525 | -€74,430 | -€66,904 | -889% |
| Amounts payable | 17/49 | €155,364 | €175,732 | +€20,368 | +13.1% |
| Amounts payable after more than one year | 17 | €9,475 | €4,353 | -€5,123 | -54.1% |
| Financial debts | 170/4 | €9,475 | €4,353 | -€5,123 | -54.1% |
| Amounts payable within one year | 42/48 | €145,859 | €171,349 | +€25,490 | +17.5% |
| Current portion of amounts payable after more than one year | 42 | €5,015 | €5,123 | +€107 | +2.1% |
| Trade debts | 44 | €2,327 | €271 | -€2,055 | -88.3% |
| Suppliers | 440/4 | €2,327 | €271 | -€2,055 | -88.3% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €138,517 | €165,955 | +€27,438 | +19.8% |
| Accrued charges and deferred income | 492/3 | €30 | €30 | +€1 | +2.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,518 | €12,103 | +€585 | +5.1% |
| Other operating charges | 640/8 | €1,427 | €2,860 | +€1,433 | +100% |
| Gross operating margin | 9900 | €9,202 | -€51,136 | -€60,338 | |
| Operating profit (loss) | 9901 | -€3,743 | -€66,099 | -€62,356 | -1,666% |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €815 | €691 | -€124 | -15.2% |
| Recurring financial charges | 65 | €815 | €691 | -€124 | -15.2% |
| Profit (loss) for the period before taxes | 9903 | -€4,558 | -€66,789 | -€62,232 | -1,365% |
| Income taxes | 67/77 | €304 | €115 | -€189 | -62.2% |
| Profit (loss) for the period | 9904 | -€4,861 | -€66,904 | -€62,043 | -1,276% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,861 | -€66,904 | -€62,043 | -1,276% |
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 25 October 2026 via checked.be.