MC-SQUARE Belgium: what changed
MC-SQUARE Belgium
Largest movements
- Tangible fixed assets -€660,909
down €660,909 (-23.2%), from €2.8m to €2.2m
of which Leasing and similar rights: -€545,090
- Deferred charges and accrued income -€255,686
down €255,686 (-28.4%), from €901,841 to €646,154
- Receivables within one year -€94,936
down €94,936 (-10.3%), from €922,786 to €827,850
of which Trade receivables: -€68,545
- Financial fixed assets +€81,955
up €81,955 (+47.3%), from €173,405 to €255,360
- Cash -€52,173
down €52,173 (-34.6%), from €150,767 to €98,594
mainly Debts after one year (-€689,770) and Trade debts (-€312,054)
- Debts after one year -€689,770
down €689,770 (-16.9%), from €4.1m to €3.4m
of which Financial debts: -€763,333
- Trade debts -€312,054
down €312,054 (-21.4%), from €1.5m to €1.1m
- Tax, wage and social debts -€118,064
down €118,064 (-40.8%), from €289,391 to €171,327
of which Taxes: -€122,061
- Accrued charges and deferred income +€71,980
new in 2024: €71,980
- Profit (loss) carried forward +€53,177
up €53,177 (+3.4%), from -€1.6m to -€1.5m
- Gross operating margin -€100,480
down €100,480 (-7.6%), from €1.3m to €1.2m
- Financial charges +€39,905
up €39,905 (+74.4%), from €53,648 to €93,553
- Other operating charges -€34,256
down €34,256 (-19.1%), from €178,988 to €144,732
- Staff costs +€24,979
up €24,979 (+15.7%), from €159,167 to €184,146
- Depreciation +€13,940
up €13,940 (+2.0%), from €686,358 to €700,298
Change in the result, 2023 to 2024
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 2023 and 2024 balance sheets and the 2024 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 | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,991,657 | €4,009,907 | -€981,750 | -19.7% |
| Fixed assets | 21/28 | €3,016,263 | €2,437,309 | -€578,954 | -19.2% |
| Tangible fixed assets | 22/27 | €2,842,859 | €2,181,949 | -€660,909 | -23.2% |
| Plant, machinery and equipment | 23 | €484,290 | €374,262 | -€110,028 | -22.7% |
| Furniture and vehicles | 24 | €152,379 | €127,344 | -€25,035 | -16.4% |
| Leasing and similar rights | 25 | €2,180,358 | €1,635,268 | -€545,090 | -25.0% |
| Other tangible fixed assets | 26 | €25,831 | €45,075 | +€19,243 | +74.5% |
| Financial fixed assets | 28 | €173,405 | €255,360 | +€81,955 | +47.3% |
| Current assets | 29/58 | €1,975,393 | €1,572,598 | -€402,796 | -20.4% |
| Amounts receivable within one year | 40/41 | €922,786 | €827,850 | -€94,936 | -10.3% |
| Trade receivables | 40 | €879,553 | €811,008 | -€68,545 | -7.8% |
| Other amounts receivable | 41 | €43,233 | €16,842 | -€26,392 | -61.0% |
| Cash at bank and in hand | 54/58 | €150,767 | €98,594 | -€52,173 | -34.6% |
| Deferred charges and accrued income | 490/1 | €901,841 | €646,154 | -€255,686 | -28.4% |
| Total equity and liabilities | 10/49 | €4,991,657 | €4,009,907 | -€981,750 | -19.7% |
| Equity | 10/15 | -€1,562,916 | -€1,509,739 | +€53,177 | +3.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,581,508 | -€1,528,331 | +€53,177 | +3.4% |
| Amounts payable | 17/49 | €6,554,573 | €5,519,646 | -€1.0m | -15.8% |
| Amounts payable after more than one year | 17 | €4,084,316 | €3,394,546 | -€689,770 | -16.9% |
| Financial debts | 170/4 | €3,677,056 | €2,913,723 | -€763,333 | -20.8% |
| Other amounts payable | 178/9 | €407,261 | €480,823 | +€73,563 | +18.1% |
| Amounts payable within one year | 42/48 | €2,470,257 | €2,053,120 | -€417,137 | -16.9% |
| Current portion of amounts payable after more than one year | 42 | €631,008 | €631,008 | = | 0.0% |
| Financial debts | 43 | €17,809 | €17,809 | = | 0.0% |
| Credit institutions | 430/8 | €17,809 | €17,809 | = | 0.0% |
| Trade debts | 44 | €1,460,179 | €1,148,125 | -€312,054 | -21.4% |
| Suppliers | 440/4 | €1,460,179 | €1,148,125 | -€312,054 | -21.4% |
| Taxes, remuneration and social security | 45 | €289,391 | €171,327 | -€118,064 | -40.8% |
| Taxes | 450/3 | €274,076 | €152,014 | -€122,061 | -44.5% |
| Remuneration and social security | 454/9 | €15,315 | €19,312 | +€3,997 | +26.1% |
| Other amounts payable | 47/48 | €71,870 | €84,851 | +€12,982 | +18.1% |
| Accrued charges and deferred income | 492/3 | - | €71,980 | +€71,980 | |
| Non-recurring operating income | 76A | €6,107 | €6,001 | -€106 | -1.7% |
| Remuneration, social security and pensions | 62 | €159,167 | €184,146 | +€24,979 | +15.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €686,358 | €700,298 | +€13,940 | +2.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,661 | €0 | -€3,661 | -100% |
| Other operating charges | 640/8 | €178,988 | €144,732 | -€34,256 | -19.1% |
| Non-recurring operating charges | 66A | €4,153 | €55,729 | +€51,575 | +1,242% |
| Gross operating margin | 9900 | €1,323,236 | €1,222,755 | -€100,480 | -7.6% |
| Operating profit (loss) | 9901 | €290,907 | €137,851 | -€153,056 | -52.6% |
| Financial income | 75/76B | €28 | €8,889 | +€8,861 | +31,300% |
| Recurring financial income | 75 | €28 | €8,889 | +€8,861 | +31,300% |
| Financial charges | 65/66B | €53,648 | €93,553 | +€39,905 | +74.4% |
| Recurring financial charges | 65 | €53,648 | €93,553 | +€39,905 | +74.4% |
| Profit (loss) for the period before taxes | 9903 | €237,287 | €53,187 | -€184,100 | -77.6% |
| Income taxes | 67/77 | €0 | €9 | +€9 | |
| Profit (loss) for the period | 9904 | €237,287 | €53,177 | -€184,110 | -77.6% |
| Profit (loss) for the period to be appropriated | 9905 | €237,287 | €53,177 | -€184,110 | -77.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.