MC Stables: 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 Stables
Largest movements
- Receivables within one year +€328,366
up €328,366 (+12602.2%), from €2,606 to €330,972
of which Trade receivables: +€320,656
- Stocks and contracts +€327,940
new in 2025: €327,940
- Tangible fixed assets -€124,362
down €124,362 (-59.2%), from €210,104 to €85,742
of which Other tangible fixed assets: -€71,583
- Intangible fixed assets -€41,493
down €41,493 (-12.8%), from €325,212 to €283,718
- Cash -€17,195
down €17,195 (-90.3%), from €19,039 to €1,844
mainly Receivables within one year (-€328,366) and Stocks and contracts (-€327,940)
- Debts after one year +€743,625
up €743,625 (+79.3%), from €938,033 to €1.7m
- Profit (loss) carried forward -€299,673
down €299,673 (-65.3%), from -€458,897 to -€758,570
- Other debts +€40,784
up €40,784 (+2691.5%), from €1,515 to €42,299
- Gross operating margin -€20,654
down €20,654 (-13.5%), from -€153,325 to -€173,979
- Depreciation -€13,933
down €13,933 (-19.6%), from €71,248 to €57,316
- Staff costs +€10,097
up €10,097 (+23.0%), from €43,993 to €54,090
- Other operating charges +€8,724
up €8,724 (+626.2%), from €1,393 to €10,117
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 | €556,960 | €1,034,890 | +€477,930 | +85.8% |
| Fixed assets | 21/28 | €535,315 | €369,460 | -€165,855 | -31.0% |
| Intangible fixed assets | 21 | €325,212 | €283,718 | -€41,493 | -12.8% |
| Tangible fixed assets | 22/27 | €210,104 | €85,742 | -€124,362 | -59.2% |
| Plant, machinery and equipment | 23 | €37,095 | €29,472 | -€7,622 | -20.5% |
| Furniture and vehicles | 24 | €57,904 | €12,747 | -€45,156 | -78.0% |
| Other tangible fixed assets | 26 | €115,105 | €43,522 | -€71,583 | -62.2% |
| Current assets | 29/58 | €21,644 | €665,430 | +€643,785 | +2974.4% |
| Stocks and contracts in progress | 3 | - | €327,940 | +€327,940 | |
| Stocks | 30/36 | - | €327,940 | +€327,940 | |
| Amounts receivable within one year | 40/41 | €2,606 | €330,972 | +€328,366 | +12602.2% |
| Trade receivables | 40 | €721 | €321,378 | +€320,656 | +44455.9% |
| Other amounts receivable | 41 | €1,884 | €9,594 | +€7,710 | +409.2% |
| Cash at bank and in hand | 54/58 | €19,039 | €1,844 | -€17,195 | -90.3% |
| Deferred charges and accrued income | 490/1 | €0 | €4,674 | +€4,674 | |
| Total equity and liabilities | 10/49 | €556,960 | €1,034,890 | +€477,930 | +85.8% |
| Equity | 10/15 | -€438,897 | -€738,570 | -€299,673 | -68.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€458,897 | -€758,570 | -€299,673 | -65.3% |
| Amounts payable | 17/49 | €995,857 | €1,773,460 | +€777,603 | +78.1% |
| Amounts payable after more than one year | 17 | €938,033 | €1,681,657 | +€743,625 | +79.3% |
| Financial debts | 170/4 | €938,033 | €1,681,657 | +€743,625 | +79.3% |
| Amounts payable within one year | 42/48 | €57,440 | €91,418 | +€33,978 | +59.2% |
| Current portion of amounts payable after more than one year | 42 | €20,616 | €21,375 | +€759 | +3.7% |
| Trade debts | 44 | €22,239 | €18,982 | -€3,257 | -14.6% |
| Suppliers | 440/4 | €22,239 | €18,982 | -€3,257 | -14.6% |
| Taxes, remuneration and social security | 45 | €13,070 | €8,762 | -€4,308 | -33.0% |
| Taxes | 450/3 | €2,315 | - | -€2,315 | |
| Remuneration and social security | 454/9 | €10,755 | €8,762 | -€1,993 | -18.5% |
| Other amounts payable | 47/48 | €1,515 | €42,299 | +€40,784 | +2691.5% |
| Accrued charges and deferred income | 492/3 | €384 | €384 | = | 0.0% |
| Non-recurring operating income | 76A | €553 | €9,592 | +€9,039 | +1634.6% |
| Remuneration, social security and pensions | 62 | €43,993 | €54,090 | +€10,097 | +23.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,248 | €57,316 | -€13,933 | -19.6% |
| Other operating charges | 640/8 | €1,393 | €10,117 | +€8,724 | +626.2% |
| Gross operating margin | 9900 | -€153,325 | -€173,979 | -€20,654 | -13.5% |
| Operating profit (loss) | 9901 | -€269,959 | -€295,501 | -€25,543 | -9.5% |
| Financial income | 75/76B | €0 | €41 | +€41 | |
| Recurring financial income | 75 | €0 | €41 | +€41 | |
| Financial charges | 65/66B | €4,637 | €4,212 | -€425 | -9.2% |
| Recurring financial charges | 65 | €4,637 | €4,212 | -€425 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | -€274,596 | -€299,673 | -€25,077 | -9.1% |
| Profit (loss) for the period | 9904 | -€274,596 | -€299,673 | -€25,077 | -9.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€274,596 | -€299,673 | -€25,077 | -9.1% |
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 8 October 2026 via checked.be.