MC.ETAF: 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.ETAF
Largest movements
- Deferred charges and accrued income +€8,250
new in 2025: €8,250
- Receivables within one year -€3,556
down €3,556 (-35.8%), from €9,938 to €6,382
of which Trade receivables: -€3,396
- Cash -€2,668
down €2,668 (-25.8%), from €10,360 to €7,692
mainly Deferred charges and accrued income (-€8,250) and Net result for the year (-€2,775)
- Trade debts +€4,711
up €4,711 (+6,130%), from €77 to €4,788
- Profit (loss) carried forward -€2,775
down €2,775 (-6.0%), from -€46,060 to -€48,835
- Financial charges +€802
up €802 (+27.4%), from €2,925 to €3,727
- Other operating charges -€373
down €373 (-74.8%), from €499 to €126
- Gross operating margin -€261
down €261 (-19.5%), from €1,339 to €1,078
- Financial income -€250
down €250 (-100%), from €250 to €0
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 | €20,298 | €22,324 | +€2,026 | +10.0% |
| Current assets | 29/58 | €20,298 | €22,324 | +€2,026 | +10.0% |
| Amounts receivable within one year | 40/41 | €9,938 | €6,382 | -€3,556 | -35.8% |
| Trade receivables | 40 | €9,692 | €6,296 | -€3,396 | -35.0% |
| Other amounts receivable | 41 | €246 | €87 | -€160 | -64.9% |
| Cash at bank and in hand | 54/58 | €10,360 | €7,692 | -€2,668 | -25.8% |
| Deferred charges and accrued income | 490/1 | - | €8,250 | +€8,250 | |
| Total equity and liabilities | 10/49 | €20,298 | €22,324 | +€2,026 | +10.0% |
| Equity | 10/15 | -€16,060 | -€18,835 | -€2,775 | -17.3% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€46,060 | -€48,835 | -€2,775 | -6.0% |
| Amounts payable | 17/49 | €36,357 | €41,158 | +€4,801 | +13.2% |
| Amounts payable within one year | 42/48 | €36,357 | €41,158 | +€4,801 | +13.2% |
| Trade debts | 44 | €77 | €4,788 | +€4,711 | +6,130% |
| Suppliers | 440/4 | €77 | €4,788 | +€4,711 | +6,130% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €0 | €55 | +€55 | |
| Taxes | 450/3 | €0 | €55 | +€55 | |
| Other amounts payable | 47/48 | €36,281 | €36,316 | +€35 | +0.1% |
| Other operating charges | 640/8 | €499 | €126 | -€373 | -74.8% |
| Gross operating margin | 9900 | €1,339 | €1,078 | -€261 | -19.5% |
| Operating profit (loss) | 9901 | €840 | €952 | +€112 | +13.4% |
| Financial income | 75/76B | €250 | €0 | -€250 | -100% |
| Recurring financial income | 75 | €250 | €0 | -€250 | -100% |
| Financial charges | 65/66B | €2,925 | €3,727 | +€802 | +27.4% |
| Recurring financial charges | 65 | €2,925 | €3,727 | +€802 | +27.4% |
| Profit (loss) for the period before taxes | 9903 | -€1,835 | -€2,775 | -€939 | -51.2% |
| Profit (loss) for the period | 9904 | -€1,835 | -€2,775 | -€939 | -51.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,835 | -€2,775 | -€939 | -51.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.