MC Shine: 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.
What changed
MC Shine
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€105,794
2024 · -€684,435+€578,641
Equity
€24.7m
2024 · €24.8m-€105,794
Cash
€831,796
2024 · €956,520-€124,724
Balance sheet total
€51.7m
2024 · €52.3m-€630,110
Largest movements
Assets
- Receivables within one year -€526,919
down €526,919 (-56.4%), from €934,149 to €407,230
of which Trade receivables: -€299,482
Equity and liabilities
- Debts after one year -€1.6m
down €1.6m (-6.9%), from €23.3m to €21.7m
- Current portion of long-term debt +€970,955
new in 2025: €970,955
Income statement
- Financial income +€442,640
up €442,640 (+48.4%), from €914,564 to €1.4m
- Turnover +€173,344
up €173,344 (+15.2%), from €1.1m to €1.3m
- Services and other goods +€147,404
up €147,404 (+13.7%), from €1.1m to €1.2m
- Financial charges -€104,919
down €104,919 (-6.3%), from €1.7m to €1.6m
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.
Result 2024
-€684,435
Turnover
+€173,344
Services and other goods
-€147,404
Other operating charges
+€142
Financial income
+€442,640
Financial charges
+€104,919
Taxes
+€5,000
Result 2025
-€105,794
raises the resultlowers the result
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.
From operations
+€519,737
Investment
-€2,550
Financing
-€641,910
Cash 2024
€956,520
From operations (derived)
+€519,737
Net result for the year
-€105,794
Receivables within one year
+€526,919
Deferred charges and accrued income
-€18,983
Trade debts
+€265,734
Tax, wage and social debts
-€18,286
Other debts
-€87,551
Accrued charges and deferred income
-€42,303
Investment (derived)
-€2,550
Investment in fixed assets (net)
-€2,550
Financing
-€641,910
Debts after one year
-€1.6m
Current portion of long-term debt
+€970,955
Cash 2025
€831,796
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €52,343,628 | €51,713,518 | -€630,110 | -1.2% |
| Fixed assets | 21/28 | €17,572,113 | €17,574,663 | +€2,550 | 0.0% |
| Financial fixed assets | 28 | €17,572,113 | €17,574,663 | +€2,550 | 0.0% |
| Affiliated companies | 280/1 | €17,572,113 | €17,572,113 | = | 0.0% |
| Participating interests | 280 | €17,572,113 | €17,572,113 | = | 0.0% |
| Other financial fixed assets | 284/8 | - | €2,550 | +€2,550 | |
| Amounts receivable and cash guarantees | 285/8 | - | €2,550 | +€2,550 | |
| Current assets | 29/58 | €34,771,515 | €34,138,855 | -€632,660 | -1.8% |
| Amounts receivable after more than one year | 29 | €31,966,282 | €31,966,282 | = | 0.0% |
| Other amounts receivable | 291 | €31,966,282 | €31,966,282 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €934,149 | €407,230 | -€526,919 | -56.4% |
| Trade receivables | 40 | €695,638 | €396,156 | -€299,482 | -43.1% |
| Other amounts receivable | 41 | €238,511 | €11,074 | -€227,437 | -95.4% |
| Cash at bank and in hand | 54/58 | €956,520 | €831,796 | -€124,724 | -13.0% |
| Deferred charges and accrued income | 490/1 | €914,564 | €933,547 | +€18,983 | +2.1% |
| Total equity and liabilities | 10/49 | €52,343,628 | €51,713,518 | -€630,110 | -1.2% |
| Equity | 10/15 | €24,841,249 | €24,735,456 | -€105,794 | -0.4% |
| Contributions | 10/11 | €25,525,684 | €25,525,684 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€684,435 | -€790,228 | -€105,794 | -15.5% |
| Amounts payable | 17/49 | €27,502,378 | €26,978,062 | -€524,316 | -1.9% |
| Amounts payable after more than one year | 17 | €23,341,295 | €21,728,429 | -€1.6m | -6.9% |
| Financial debts | 170/4 | €23,341,295 | €21,728,429 | -€1.6m | -6.9% |
| Subordinated loans | 170 | - | €1,300,000 | +€1.3m | |
| Credit institutions | 173 | €23,341,295 | €20,428,429 | -€2.9m | -12.5% |
| Amounts payable within one year | 42/48 | €3,738,245 | €4,869,097 | +€1.1m | +30.3% |
| Current portion of amounts payable after more than one year | 42 | - | €970,955 | +€970,955 | |
| Financial debts | 43 | €3,000,000 | €3,000,000 | = | 0.0% |
| Credit institutions | 430/8 | €3,000,000 | €3,000,000 | = | 0.0% |
| Trade debts | 44 | €289,785 | €555,519 | +€265,734 | +91.7% |
| Suppliers | 440/4 | €289,785 | €555,519 | +€265,734 | +91.7% |
| Taxes, remuneration and social security | 45 | €23,286 | €5,000 | -€18,286 | -78.5% |
| Taxes | 450/3 | €23,286 | €5,000 | -€18,286 | -78.5% |
| Other amounts payable | 47/48 | €425,174 | €337,623 | -€87,551 | -20.6% |
| Accrued charges and deferred income | 492/3 | €422,839 | €380,535 | -€42,303 | -10.0% |
| Operating income | 70/76A | €1,142,600 | €1,315,944 | +€173,344 | +15.2% |
| Turnover | 70 | €1,142,600 | €1,315,944 | +€173,344 | +15.2% |
| Operating charges | 60/66A | €1,079,245 | €1,226,507 | +€147,262 | +13.6% |
| Services and other goods | 61 | €1,078,837 | €1,226,241 | +€147,404 | +13.7% |
| Other operating charges | 640/8 | €408 | €265 | -€142 | -34.9% |
| Operating profit (loss) | 9901 | €63,356 | €89,438 | +€26,082 | +41.2% |
| Financial income | 75/76B | €914,564 | €1,357,204 | +€442,640 | +48.4% |
| Recurring financial income | 75 | €914,564 | €1,357,204 | +€442,640 | +48.4% |
| Income from current assets | 751 | €914,564 | €1,357,204 | +€442,640 | +48.4% |
| Financial charges | 65/66B | €1,657,354 | €1,552,435 | -€104,919 | -6.3% |
| Recurring financial charges | 65 | €1,657,354 | €1,552,435 | -€104,919 | -6.3% |
| Debt charges | 650 | €1,652,839 | €1,546,546 | -€106,293 | -6.4% |
| Other financial charges | 652/9 | €4,515 | €5,889 | +€1,374 | +30.4% |
| Profit (loss) for the period before taxes | 9903 | -€679,435 | -€105,794 | +€573,641 | +84.4% |
| Income taxes | 67/77 | €5,000 | - | -€5,000 | |
| Taxes | 670/3 | €5,000 | - | -€5,000 | |
| Profit (loss) for the period | 9904 | -€684,435 | -€105,794 | +€578,641 | +84.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€684,435 | -€105,794 | +€578,641 | +84.5% |
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 24 October 2026 via checked.be.