MC ARTHUR: 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.
MC ARTHUR
Largest movements
- Current investments +€66,052
up €66,052 (+2.9%), from €2.3m to €2.3m
- Receivables after one year -€45,000
no longer reported in 2025 (was €45,000)
- Tangible fixed assets -€42,705
down €42,705 (-4.4%), from €975,522 to €932,817
of which Land and buildings: -€44,282
- Cash +€42,433
up €42,433 (+24.8%), from €171,296 to €213,729
mainly Net result for the year (+€53,615) and Receivables after one year (+€45,000)
No liability line moved by more than 1% of the balance sheet total.
- Financial charges -€94,694
down €94,694 (-89.7%), from €105,599 to €10,905
- Gross operating margin +€17,683
up €17,683 (+29.4%), from €60,196 to €77,879
- Taxes +€17,035
new in 2025: €17,035
- Financial income -€5,419
down €5,419 (-8.4%), from €64,353 to €58,934
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.
Cash bridge derived
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 | €3,477,608 | €3,481,440 | +€3,832 | +0.1% |
| Fixed assets | 21/28 | €975,522 | €932,817 | -€42,705 | -4.4% |
| Tangible fixed assets | 22/27 | €975,522 | €932,817 | -€42,705 | -4.4% |
| Land and buildings | 22 | €975,093 | €930,812 | -€44,282 | -4.5% |
| Furniture and vehicles | 24 | €429 | €2,005 | +€1,577 | +367.6% |
| Current assets | 29/58 | €2,502,086 | €2,548,623 | +€46,537 | +1.9% |
| Amounts receivable after more than one year | 29 | €45,000 | - | -€45,000 | |
| Trade receivables | 290 | €45,000 | - | -€45,000 | |
| Amounts receivable within one year | 40/41 | €25,570 | €10,720 | -€14,851 | -58.1% |
| Trade receivables | 40 | - | €2,664 | +€2,664 | |
| Other amounts receivable | 41 | €25,570 | €8,056 | -€17,515 | -68.5% |
| Current investments | 50/53 | €2,257,741 | €2,323,793 | +€66,052 | +2.9% |
| Cash at bank and in hand | 54/58 | €171,296 | €213,729 | +€42,433 | +24.8% |
| Deferred charges and accrued income | 490/1 | €2,479 | €382 | -€2,097 | -84.6% |
| Total equity and liabilities | 10/49 | €3,477,608 | €3,481,440 | +€3,832 | +0.1% |
| Equity | 10/15 | €3,449,217 | €3,452,833 | +€3,615 | +0.1% |
| Contributions | 10/11 | €371,840 | €371,840 | = | 0.0% |
| Reserves | 13 | €265,184 | €265,184 | = | 0.0% |
| Non-distributable reserves | 130/1 | €37,184 | €37,184 | = | 0.0% |
| Reserves not available under the articles | 1311 | €37,184 | €37,184 | = | 0.0% |
| Distributable reserves | 133 | €228,000 | €228,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,812,193 | €2,815,808 | +€3,615 | +0.1% |
| Amounts payable | 17/49 | €28,391 | €28,608 | +€217 | +0.8% |
| Amounts payable after more than one year | 17 | €4,430 | €4,430 | = | 0.0% |
| Other amounts payable | 178/9 | €4,430 | €4,430 | = | 0.0% |
| Amounts payable within one year | 42/48 | €22,801 | €22,848 | +€47 | +0.2% |
| Trade debts | 44 | €7,443 | €7,838 | +€395 | +5.3% |
| Suppliers | 440/4 | €7,443 | €7,838 | +€395 | +5.3% |
| Other amounts payable | 47/48 | €15,357 | €15,009 | -€348 | -2.3% |
| Accrued charges and deferred income | 492/3 | €1,160 | €1,330 | +€170 | +14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,441 | €44,938 | +€497 | +1.1% |
| Other operating charges | 640/8 | €9,745 | €10,320 | +€576 | +5.9% |
| Gross operating margin | 9900 | €60,196 | €77,879 | +€17,683 | +29.4% |
| Operating profit (loss) | 9901 | €6,011 | €22,621 | +€16,610 | +276.3% |
| Financial income | 75/76B | €64,353 | €58,934 | -€5,419 | -8.4% |
| Recurring financial income | 75 | €64,353 | €58,934 | -€5,419 | -8.4% |
| Financial charges | 65/66B | €105,599 | €10,905 | -€94,694 | -89.7% |
| Recurring financial charges | 65 | €105,599 | €10,905 | -€94,694 | -89.7% |
| Profit (loss) for the period before taxes | 9903 | -€35,235 | €70,650 | +€105,885 | |
| Income taxes | 67/77 | - | €17,035 | +€17,035 | |
| Profit (loss) for the period | 9904 | -€35,235 | €53,615 | +€88,851 | |
| Profit (loss) for the period to be appropriated | 9905 | -€35,235 | €53,615 | +€88,851 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.