MC2: 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.
MC2
Largest movements
- Tangible fixed assets -€197,188
down €197,188 (-4.8%), from €4.1m to €3.9m
- Current investments +€130,000
new in 2025: €130,000
- Receivables within one year -€71,399
down €71,399 (-94.7%), from €75,358 to €3,959
of which Trade receivables: -€71,845
- Debts after one year -€233,357
down €233,357 (-12.0%), from €1.9m to €1.7m
of which Financial debts: -€233,357
- Profit (loss) carried forward +€68,363
up €68,363 (+15.9%), from -€429,481 to -€361,118
- Gross operating margin +€30,013
up €30,013 (+7.2%), from €416,094 to €446,107
- Financial charges -€29,726
down €29,726 (-24.0%), from €123,855 to €94,129
- Other operating charges +€21,996
up €21,996 (+33.2%), from €66,184 to €88,180
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 | €4,269,229 | €4,140,471 | -€128,758 | -3.0% |
| Fixed assets | 21/28 | €4,099,454 | €3,902,266 | -€197,188 | -4.8% |
| Tangible fixed assets | 22/27 | €4,099,454 | €3,902,266 | -€197,188 | -4.8% |
| Land and buildings | 22 | €4,099,454 | €3,902,266 | -€197,188 | -4.8% |
| Current assets | 29/58 | €169,775 | €238,205 | +€68,429 | +40.3% |
| Amounts receivable within one year | 40/41 | €75,358 | €3,959 | -€71,399 | -94.7% |
| Trade receivables | 40 | €75,358 | €3,513 | -€71,845 | -95.3% |
| Other amounts receivable | 41 | - | €446 | +€446 | |
| Current investments | 50/53 | - | €130,000 | +€130,000 | |
| Cash at bank and in hand | 54/58 | €92,491 | €102,382 | +€9,891 | +10.7% |
| Deferred charges and accrued income | 490/1 | €1,926 | €1,864 | -€62 | -3.2% |
| Total equity and liabilities | 10/49 | €4,269,229 | €4,140,471 | -€128,758 | -3.0% |
| Equity | 10/15 | -€409,481 | -€341,118 | +€68,363 | +16.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€429,481 | -€361,118 | +€68,363 | +15.9% |
| Amounts payable | 17/49 | €4,678,710 | €4,481,589 | -€197,121 | -4.2% |
| Amounts payable after more than one year | 17 | €1,940,514 | €1,707,156 | -€233,357 | -12.0% |
| Financial debts | 170/4 | €1,940,214 | €1,706,856 | -€233,357 | -12.0% |
| Other amounts payable | 178/9 | €300 | €300 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,648,924 | €2,666,967 | +€18,043 | +0.7% |
| Current portion of amounts payable after more than one year | 42 | €229,373 | €233,357 | +€3,985 | +1.7% |
| Financial debts | 43 | €2,000,000 | €2,000,000 | = | 0.0% |
| Credit institutions | 430/8 | €2,000,000 | €2,000,000 | = | 0.0% |
| Trade debts | 44 | €11,284 | €22,667 | +€11,383 | +100.9% |
| Suppliers | 440/4 | €11,259 | €18,410 | +€7,151 | +63.5% |
| Bills of exchange payable | 441 | €25 | €4,256 | +€4,232 | +17174.5% |
| Other amounts payable | 47/48 | €408,268 | €410,943 | +€2,675 | +0.7% |
| Accrued charges and deferred income | 492/3 | €89,272 | €107,466 | +€18,194 | +20.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €194,407 | €197,786 | +€3,380 | +1.7% |
| Other operating charges | 640/8 | €66,184 | €88,180 | +€21,996 | +33.2% |
| Gross operating margin | 9900 | €416,094 | €446,107 | +€30,013 | +7.2% |
| Operating profit (loss) | 9901 | €155,503 | €160,141 | +€4,638 | +3.0% |
| Financial income | 75/76B | €0 | €1,752 | +€1,752 | |
| Recurring financial income | 75 | €0 | €1,752 | +€1,752 | |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €123,855 | €94,129 | -€29,726 | -24.0% |
| Recurring financial charges | 65 | €123,855 | €94,129 | -€29,726 | -24.0% |
| Profit (loss) for the period before taxes | 9903 | €31,648 | €67,764 | +€36,116 | +114.1% |
| Profit (loss) for the period | 9904 | €31,648 | €67,764 | +€36,116 | +114.1% |
| Profit (loss) for the period to be appropriated | 9905 | €31,648 | €67,764 | +€36,116 | +114.1% |
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 1 October 2026 via checked.be.