MC LINE: what changed
Two fiscal 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 LINE
Largest movements
- Receivables within one year +€112,188
up €112,188 (+63.3%), from €177,336 to €289,523
of which Other amounts receivable: +€60,856
- Cash -€8,145
down €8,145 (-42.0%), from €19,395 to €11,249
mainly Receivables within one year (-€112,188) and Investment in fixed assets (net) (-€31,001)
- Tangible fixed assets +€4,075
up €4,075 (+8.2%), from €49,584 to €53,659
of which Plant, machinery and equipment: +€3,556
- Reserves +€80,707
up €80,707 (+107.2%), from €75,279 to €155,986
of which Distributable reserves: +€80,707
- Trade debts +€13,905
up €13,905 (+48.3%), from €28,777 to €42,682
- Current portion of long-term debt +€7,169
up €7,169 (+42.9%), from €16,721 to €23,891
- Tax, wage and social debts +€4,626
up €4,626 (+11.3%), from €40,851 to €45,477
of which Taxes: +€3,460
- Gross operating margin +€91,943
up €91,943 (+120.0%), from €76,604 to €168,547
- Taxes +€39,281
up €39,281 (+2976.7%), from €1,320 to €40,600
- Staff costs +€11,021
up €11,021 (+117.9%), from €9,347 to €20,368
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 | €268,163 | €377,636 | +€109,473 | +40.8% |
| Fixed assets | 21/28 | €49,674 | €53,749 | +€4,075 | +8.2% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €49,584 | €53,659 | +€4,075 | +8.2% |
| Plant, machinery and equipment | 23 | €4,699 | €8,255 | +€3,556 | +75.7% |
| Furniture and vehicles | 24 | €44,885 | €45,403 | +€519 | +1.2% |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €218,489 | €323,887 | +€105,398 | +48.2% |
| Stocks and contracts in progress | 3 | €7,625 | €10,901 | +€3,276 | +43.0% |
| Stocks | 30/36 | €7,625 | €10,901 | +€3,276 | +43.0% |
| Amounts receivable within one year | 40/41 | €177,336 | €289,523 | +€112,188 | +63.3% |
| Trade receivables | 40 | €43,662 | €94,993 | +€51,332 | +117.6% |
| Other amounts receivable | 41 | €133,674 | €194,530 | +€60,856 | +45.5% |
| Cash at bank and in hand | 54/58 | €19,395 | €11,249 | -€8,145 | -42.0% |
| Deferred charges and accrued income | 490/1 | €14,134 | €12,214 | -€1,920 | -13.6% |
| Total equity and liabilities | 10/49 | €268,163 | €377,636 | +€109,473 | +40.8% |
| Equity | 10/15 | €144,383 | €225,090 | +€80,707 | +55.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €75,279 | €155,986 | +€80,707 | +107.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €73,419 | €154,126 | +€80,707 | +109.9% |
| Profit (loss) carried forward | 14 | €62,904 | €62,904 | = | 0.0% |
| Amounts payable | 17/49 | €123,780 | €152,545 | +€28,766 | +23.2% |
| Amounts payable after more than one year | 17 | €36,846 | €40,496 | +€3,650 | +9.9% |
| Financial debts | 170/4 | €36,846 | €40,496 | +€3,650 | +9.9% |
| Amounts payable within one year | 42/48 | €86,349 | €112,049 | +€25,700 | +29.8% |
| Current portion of amounts payable after more than one year | 42 | €16,721 | €23,891 | +€7,169 | +42.9% |
| Trade debts | 44 | €28,777 | €42,682 | +€13,905 | +48.3% |
| Suppliers | 440/4 | €28,777 | €42,682 | +€13,905 | +48.3% |
| Taxes, remuneration and social security | 45 | €40,851 | €45,477 | +€4,626 | +11.3% |
| Taxes | 450/3 | €37,141 | €40,600 | +€3,460 | +9.3% |
| Remuneration and social security | 454/9 | €3,710 | €4,877 | +€1,166 | +31.4% |
| Accrued charges and deferred income | 492/3 | €585 | - | -€585 | |
| Remuneration, social security and pensions | 62 | €9,347 | €20,368 | +€11,021 | +117.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,784 | €26,926 | +€1,142 | +4.4% |
| Other operating charges | 640/8 | €485 | €492 | +€7 | +1.5% |
| Non-recurring operating charges | 66A | €37,303 | - | -€37,303 | |
| Gross operating margin | 9900 | €76,604 | €168,547 | +€91,943 | +120.0% |
| Operating profit (loss) | 9901 | €3,685 | €120,760 | +€117,075 | +3177.4% |
| Financial income | 75/76B | €456 | €1,919 | +€1,463 | +320.8% |
| Recurring financial income | 75 | €456 | €1,919 | +€1,463 | +320.8% |
| Financial charges | 65/66B | €984 | €1,371 | +€387 | +39.3% |
| Recurring financial charges | 65 | €984 | €1,371 | +€387 | +39.3% |
| Profit (loss) for the period before taxes | 9903 | €3,157 | €121,308 | +€118,151 | +3742.9% |
| Income taxes | 67/77 | €1,320 | €40,600 | +€39,281 | +2976.7% |
| Profit (loss) for the period | 9904 | €1,837 | €80,707 | +€78,870 | +4293.2% |
| Profit (loss) for the period to be appropriated | 9905 | €1,837 | €80,707 | +€78,870 | +4293.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.