MC Project: what changed
MC Project
Largest movements
- Cash -€41,281
down €41,281 (-20.4%), from €202,617 to €161,336
mainly Investment in fixed assets (net) (-€48,520) and Tax, wage and social debts (-€25,667)
- Tangible fixed assets +€33,544
up €33,544 (+29.1%), from €115,442 to €148,986
of which Furniture and vehicles: +€40,635
- Receivables within one year +€18,360
up €18,360 (+99.1%), from €18,534 to €36,894
of which Trade receivables: +€9,216
- Reserves +€45,336
up €45,336 (+20.5%), from €221,473 to €266,810
- Tax, wage and social debts -€25,667
no longer reported in 2025 (was €25,667)
- Debts after one year -€13,793
down €13,793 (-37.1%), from €37,163 to €23,370
- Trade debts +€13,220
up €13,220 (+125%), from €10,593 to €23,812
- Other debts -€8,383
down €8,383 (-73.5%), from €11,405 to €3,022
- Gross operating margin -€39,258
down €39,258 (-32.1%), from €122,429 to €83,171
- Taxes -€16,075
down €16,075 (-44.0%), from €36,572 to €20,496
- Depreciation +€5,050
up €5,050 (+50.9%), from €9,926 to €14,976
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €338,525 | €349,407 | +€10,882 | +3.2% |
| Fixed assets | 21/28 | €115,442 | €148,986 | +€33,544 | +29.1% |
| Tangible fixed assets | 22/27 | €115,442 | €148,986 | +€33,544 | +29.1% |
| Land and buildings | 22 | €105,894 | €101,342 | -€4,552 | -4.3% |
| Plant, machinery and equipment | 23 | €5,394 | €3,135 | -€2,259 | -41.9% |
| Furniture and vehicles | 24 | €3,873 | €44,508 | +€40,635 | +1,049% |
| Other tangible fixed assets | 26 | €281 | - | -€281 | |
| Current assets | 29/58 | €223,082 | €200,420 | -€22,662 | -10.2% |
| Amounts receivable within one year | 40/41 | €18,534 | €36,894 | +€18,360 | +99.1% |
| Trade receivables | 40 | €18,534 | €27,750 | +€9,216 | +49.7% |
| Other amounts receivable | 41 | - | €9,144 | +€9,144 | |
| Cash at bank and in hand | 54/58 | €202,617 | €161,336 | -€41,281 | -20.4% |
| Deferred charges and accrued income | 490/1 | €1,932 | €2,191 | +€259 | +13.4% |
| Total equity and liabilities | 10/49 | €338,525 | €349,407 | +€10,882 | +3.2% |
| Equity | 10/15 | €240,073 | €285,410 | +€45,336 | +18.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €221,473 | €266,810 | +€45,336 | +20.5% |
| Distributable reserves | 133 | €221,473 | €266,810 | +€45,336 | +20.5% |
| Amounts payable | 17/49 | €98,451 | €63,997 | -€34,454 | -35.0% |
| Amounts payable after more than one year | 17 | €37,163 | €23,370 | -€13,793 | -37.1% |
| Financial debts | 170/4 | €37,163 | €23,370 | -€13,793 | -37.1% |
| Amounts payable within one year | 42/48 | €61,288 | €40,627 | -€20,661 | -33.7% |
| Current portion of amounts payable after more than one year | 42 | €13,623 | €13,793 | +€169 | +1.2% |
| Trade debts | 44 | €10,593 | €23,812 | +€13,220 | +125% |
| Suppliers | 440/4 | €10,593 | €23,812 | +€13,220 | +125% |
| Taxes, remuneration and social security | 45 | €25,667 | - | -€25,667 | |
| Taxes | 450/3 | €25,667 | - | -€25,667 | |
| Other amounts payable | 47/48 | €11,405 | €3,022 | -€8,383 | -73.5% |
| Non-recurring operating income | 76A | - | €702 | +€702 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,926 | €14,976 | +€5,050 | +50.9% |
| Other operating charges | 640/8 | €1,035 | €1,066 | +€31 | +3.0% |
| Gross operating margin | 9900 | €122,429 | €83,171 | -€39,258 | -32.1% |
| Operating profit (loss) | 9901 | €111,468 | €67,129 | -€44,339 | -39.8% |
| Financial income | 75/76B | €226 | €503 | +€277 | +123% |
| Recurring financial income | 75 | €226 | €503 | +€277 | +123% |
| Financial charges | 65/66B | €1,806 | €1,799 | -€7 | -0.4% |
| Recurring financial charges | 65 | €1,806 | €1,799 | -€7 | -0.4% |
| Profit (loss) for the period before taxes | 9903 | €109,888 | €65,833 | -€44,055 | -40.1% |
| Income taxes | 67/77 | €36,572 | €20,496 | -€16,075 | -44.0% |
| Profit (loss) for the period | 9904 | €73,316 | €45,336 | -€27,980 | -38.2% |
| Profit (loss) for the period to be appropriated | 9905 | €73,316 | €45,336 | -€27,980 | -38.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.