MCars: 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.
MCars
Largest movements
- Tangible fixed assets +€490,382
up €490,382 (+378.7%), from €129,493 to €619,875
of which Land and buildings: +€381,532
- Receivables within one year -€167,059
down €167,059 (-60.1%), from €278,131 to €111,073
of which Trade receivables: -€159,857
- Cash +€98,602
up €98,602 (+265.0%), from €37,208 to €135,810
mainly Debts after one year (+€521,649) and Receivables within one year (+€167,059)
- Stocks and contracts -€27,785
down €27,785 (-13.0%), from €214,248 to €186,463
- Debts after one year +€521,649
up €521,649 (+3988.6%), from €13,078 to €534,728
- Trade debts -€275,448
down €275,448 (-63.0%), from €437,474 to €162,026
- Short-term financial debts +€75,500
up €75,500 (+629.2%), from €12,000 to €87,500
- Advances received +€23,250
new in 2025: €23,250
- Reserves +€19,000
new in 2025: €19,000
- Staff costs +€72,596
up €72,596 (+54.9%), from €132,286 to €204,882
- Gross operating margin +€62,386
up €62,386 (+26.3%), from €237,184 to €299,570
- Depreciation +€41,931
up €41,931 (+507.8%), from €8,257 to €50,188
- Taxes -€21,999
down €21,999 (-88.2%), from €24,943 to €2,943
- Other operating charges +€9,641
up €9,641 (+136.3%), from €7,075 to €16,716
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 | €673,174 | €1,065,179 | +€392,005 | +58.2% |
| Fixed assets | 21/28 | €139,460 | €628,417 | +€488,957 | +350.6% |
| Intangible fixed assets | 21 | €9,250 | €8,325 | -€925 | -10.0% |
| Tangible fixed assets | 22/27 | €129,493 | €619,875 | +€490,382 | +378.7% |
| Land and buildings | 22 | €114,473 | €496,005 | +€381,532 | +333.3% |
| Plant, machinery and equipment | 23 | €1,375 | €30,340 | +€28,965 | +2106.7% |
| Furniture and vehicles | 24 | €13,646 | €93,530 | +€79,885 | +585.4% |
| Financial fixed assets | 28 | €717 | €217 | -€500 | -69.7% |
| Current assets | 29/58 | €533,714 | €436,762 | -€96,952 | -18.2% |
| Stocks and contracts in progress | 3 | €214,248 | €186,463 | -€27,785 | -13.0% |
| Stocks | 30/36 | €214,248 | €186,463 | -€27,785 | -13.0% |
| Amounts receivable within one year | 40/41 | €278,131 | €111,073 | -€167,059 | -60.1% |
| Trade receivables | 40 | €270,929 | €111,073 | -€159,857 | -59.0% |
| Other amounts receivable | 41 | €7,202 | - | -€7,202 | |
| Cash at bank and in hand | 54/58 | €37,208 | €135,810 | +€98,602 | +265.0% |
| Deferred charges and accrued income | 490/1 | €4,127 | €3,416 | -€711 | -17.2% |
| Total equity and liabilities | 10/49 | €673,174 | €1,065,179 | +€392,005 | +58.2% |
| Equity | 10/15 | €95,460 | €114,979 | +€19,518 | +20.4% |
| Contributions | 10/11 | €5,100 | €5,100 | = | 0.0% |
| Reserves | 13 | - | €19,000 | +€19,000 | |
| Distributable reserves | 133 | - | €19,000 | +€19,000 | |
| Profit (loss) carried forward | 14 | €90,360 | €90,879 | +€518 | +0.6% |
| Provisions and deferred taxes | 16 | €3,000 | - | -€3,000 | |
| Provisions for liabilities and charges | 160/5 | €3,000 | - | -€3,000 | |
| Other liabilities and charges | 164/5 | €3,000 | - | -€3,000 | |
| Amounts payable | 17/49 | €574,714 | €950,201 | +€375,487 | +65.3% |
| Amounts payable after more than one year | 17 | €13,078 | €534,728 | +€521,649 | +3988.6% |
| Financial debts | 170/4 | €13,078 | €534,728 | +€521,649 | +3988.6% |
| Amounts payable within one year | 42/48 | €561,635 | €415,473 | -€146,163 | -26.0% |
| Current portion of amounts payable after more than one year | 42 | €6,377 | €15,288 | +€8,911 | +139.7% |
| Financial debts | 43 | €12,000 | €87,500 | +€75,500 | +629.2% |
| Credit institutions | 430/8 | €12,000 | €87,500 | +€75,500 | +629.2% |
| Trade debts | 44 | €437,474 | €162,026 | -€275,448 | -63.0% |
| Suppliers | 440/4 | €437,474 | €162,026 | -€275,448 | -63.0% |
| Advances received on contracts in progress | 46 | - | €23,250 | +€23,250 | |
| Taxes, remuneration and social security | 45 | €61,550 | €67,335 | +€5,785 | +9.4% |
| Taxes | 450/3 | €27,308 | €51,550 | +€24,242 | +88.8% |
| Remuneration and social security | 454/9 | €34,242 | €15,785 | -€18,458 | -53.9% |
| Other amounts payable | 47/48 | €44,234 | €60,074 | +€15,840 | +35.8% |
| Remuneration, social security and pensions | 62 | €132,286 | €204,882 | +€72,596 | +54.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,257 | €50,188 | +€41,931 | +507.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €3,000 | - | -€3,000 | |
| Other operating charges | 640/8 | €7,075 | €16,716 | +€9,641 | +136.3% |
| Non-recurring operating charges | 66A | €2,250 | €874 | -€1,376 | -61.2% |
| Gross operating margin | 9900 | €237,184 | €299,570 | +€62,386 | +26.3% |
| Operating profit (loss) | 9901 | €84,317 | €26,910 | -€57,407 | -68.1% |
| Financial income | 75/76B | €119 | €2,539 | +€2,421 | +2038.0% |
| Recurring financial income | 75 | €119 | €2,539 | +€2,421 | +2038.0% |
| Financial charges | 65/66B | €3,678 | €6,988 | +€3,310 | +90.0% |
| Recurring financial charges | 65 | €3,678 | €6,988 | +€3,310 | +90.0% |
| Profit (loss) for the period before taxes | 9903 | €80,758 | €22,462 | -€58,296 | -72.2% |
| Income taxes | 67/77 | €24,943 | €2,943 | -€21,999 | -88.2% |
| Profit (loss) for the period | 9904 | €55,815 | €19,518 | -€36,297 | -65.0% |
| Profit (loss) for the period to be appropriated | 9905 | €55,815 | €19,518 | -€36,297 | -65.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.