MC + S Trading: 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 + S Trading
Largest movements
- Tangible fixed assets -€43,980
down €43,980 (-14.7%), from €298,659 to €254,679
- Receivables within one year +€6,580
up €6,580 (+312%), from €2,110 to €8,690
of which Trade receivables: +€4,481
- Profit (loss) carried forward -€80,137
down €80,137 (-276%), from -€29,073 to -€109,211
- Other debts +€57,407
up €57,407 (+54.1%), from €106,096 to €163,502
- Debts after one year -€21,816
down €21,816 (-52.4%), from €41,650 to €19,834
- Trade debts +€21,178
up €21,178 (+60.9%), from €34,759 to €55,937
- Tax, wage and social debts -€19,649
down €19,649 (-50.5%), from €38,923 to €19,274
of which Taxes: -€11,699
- Gross operating margin -€51,828
down €51,828 (-31.6%), from €163,754 to €111,926
- Other operating charges -€5,842
down €5,842 (-42.5%), from €13,748 to €7,906
- Depreciation +€2,585
up €2,585 (+6.2%), from €41,863 to €44,449
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 | €301,452 | €265,328 | -€36,124 | -12.0% |
| Fixed assets | 21/28 | €299,209 | €255,229 | -€43,980 | -14.7% |
| Tangible fixed assets | 22/27 | €298,659 | €254,679 | -€43,980 | -14.7% |
| Land and buildings | 22 | €161,495 | €147,685 | -€13,811 | -8.6% |
| Plant, machinery and equipment | 23 | €79,064 | €62,413 | -€16,651 | -21.1% |
| Furniture and vehicles | 24 | €58,100 | €44,581 | -€13,518 | -23.3% |
| Financial fixed assets | 28 | €550 | €550 | = | 0.0% |
| Current assets | 29/58 | €2,243 | €10,099 | +€7,856 | +350% |
| Amounts receivable within one year | 40/41 | €2,110 | €8,690 | +€6,580 | +312% |
| Trade receivables | 40 | €2,110 | €6,591 | +€4,481 | +212% |
| Other amounts receivable | 41 | - | €2,099 | +€2,099 | |
| Cash at bank and in hand | 54/58 | €133 | €1,408 | +€1,276 | +962% |
| Total equity and liabilities | 10/49 | €301,452 | €265,328 | -€36,124 | -12.0% |
| Equity | 10/15 | €60,229 | -€19,909 | -€80,137 | |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €70,710 | €70,710 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €11,350 | €11,350 | = | 0.0% |
| Distributable reserves | 133 | €57,500 | €57,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€29,073 | -€109,211 | -€80,137 | -276% |
| Amounts payable | 17/49 | €241,223 | €285,236 | +€44,013 | +18.2% |
| Amounts payable after more than one year | 17 | €41,650 | €19,834 | -€21,816 | -52.4% |
| Financial debts | 170/4 | €41,650 | €19,834 | -€21,816 | -52.4% |
| Amounts payable within one year | 42/48 | €199,573 | €265,403 | +€65,830 | +33.0% |
| Current portion of amounts payable after more than one year | 42 | €9,720 | €12,475 | +€2,755 | +28.3% |
| Financial debts | 43 | €9,704 | €14,214 | +€4,509 | +46.5% |
| Credit institutions | 430/8 | €9,704 | €14,214 | +€4,509 | +46.5% |
| Trade debts | 44 | €34,759 | €55,937 | +€21,178 | +60.9% |
| Suppliers | 440/4 | €34,759 | €55,937 | +€21,178 | +60.9% |
| Advances received on contracts in progress | 46 | €370 | - | -€370 | |
| Taxes, remuneration and social security | 45 | €38,923 | €19,274 | -€19,649 | -50.5% |
| Taxes | 450/3 | €13,649 | €1,950 | -€11,699 | -85.7% |
| Remuneration and social security | 454/9 | €25,275 | €17,324 | -€7,950 | -31.5% |
| Other amounts payable | 47/48 | €106,096 | €163,502 | +€57,407 | +54.1% |
| Remuneration, social security and pensions | 62 | €138,373 | €138,191 | -€182 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,863 | €44,449 | +€2,585 | +6.2% |
| Other operating charges | 640/8 | €13,748 | €7,906 | -€5,842 | -42.5% |
| Gross operating margin | 9900 | €163,754 | €111,926 | -€51,828 | -31.6% |
| Operating profit (loss) | 9901 | -€30,231 | -€78,620 | -€48,389 | -160% |
| Financial income | 75/76B | €3 | - | -€3 | |
| Recurring financial income | 75 | €3 | - | -€3 | |
| Financial charges | 65/66B | €2,166 | €1,518 | -€648 | -29.9% |
| Recurring financial charges | 65 | €2,166 | €1,518 | -€648 | -29.9% |
| Profit (loss) for the period before taxes | 9903 | -€32,394 | -€80,137 | -€47,743 | -147% |
| Profit (loss) for the period | 9904 | -€32,394 | -€80,137 | -€47,743 | -147% |
| Profit (loss) for the period to be appropriated | 9905 | -€32,394 | -€80,137 | -€47,743 | -147% |
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.