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.
What changed
MCARS
NACE 49.410, Freight transport by road
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€746,752
2024 · €1.1m-€380,620
Equity
€418,944
2024 · €412,192+€6,752
Cash
€530,753
2024 · €115,543+€415,210
Balance sheet total
€3.0m
2024 · €2.7m+€325,466
Largest movements
Assets
- Cash +€415,210
up €415,210 (+359.4%), from €115,543 to €530,753
mainly Net result for the year (+€746,752) and Other debts (+€596,971)
- Receivables within one year -€121,828
down €121,828 (-7.8%), from €1.6m to €1.4m
of which Other amounts receivable: -€173,528
- Stocks and contracts +€36,855
up €36,855 (+11.0%), from €335,098 to €371,953
Equity and liabilities
- Other debts +€596,971
up €596,971 (+41.3%), from €1.4m to €2.0m
- Short-term financial debts -€170,393
down €170,393 (-100.0%), from €170,393 to €0
- Trade debts -€157,872
down €157,872 (-54.7%), from €288,828 to €130,956
Income statement
- Gross operating margin -€374,659
down €374,659 (-19.6%), from €1.9m to €1.5m
- Depreciation +€63,349
up €63,349 (+50.2%), from €126,260 to €189,609
- Write-downs -€48,000
down €48,000, from €36,000 to -€12,000
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
€1.1m
Gross operating margin
-€374,659
Staff costs
+€18,594
Depreciation
-€63,349
Write-downs
+€48,000
Other operating charges
+€4,740
Financial income
+€6,467
Financial charges
-€6,095
Taxes
-€14,318
Result 2025
€746,752
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.
From operations
+€1.5m
Investment
-€166,735
Financing
-€879,756
Cash 2024
€115,543
From operations (derived)
+€1.5m
Net result for the year
+€746,752
Depreciation
+€189,609
Stocks and contracts
-€36,855
Receivables within one year
+€121,828
Deferred charges and accrued income
-€18,104
Trade debts
-€157,872
Tax, wage and social debts
-€4,531
Advances received
+€23,902
Other debts
+€596,971
Investment (derived)
-€166,735
Investment in fixed assets (net)
-€166,735
Financing
-€879,756
Debts after one year
+€17,030
Current portion of long-term debt
+€13,607
Short-term financial debts
-€170,393
Contributions, distributions and other
-€740,000
Cash 2025
€530,753
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,672,615 | €2,998,082 | +€325,466 | +12.2% |
| Fixed assets | 21/28 | €655,622 | €632,747 | -€22,874 | -3.5% |
| Tangible fixed assets | 22/27 | €650,607 | €627,732 | -€22,874 | -3.5% |
| Plant, machinery and equipment | 23 | - | €1,402 | +€1,402 | |
| Furniture and vehicles | 24 | €650,607 | €626,330 | -€24,276 | -3.7% |
| Financial fixed assets | 28 | €5,015 | €5,015 | = | 0.0% |
| Current assets | 29/58 | €2,016,994 | €2,365,334 | +€348,341 | +17.3% |
| Stocks and contracts in progress | 3 | €335,098 | €371,953 | +€36,855 | +11.0% |
| Stocks | 30/36 | €335,098 | €371,953 | +€36,855 | +11.0% |
| Amounts receivable within one year | 40/41 | €1,565,100 | €1,443,272 | -€121,828 | -7.8% |
| Trade receivables | 40 | €196,930 | €248,630 | +€51,700 | +26.3% |
| Other amounts receivable | 41 | €1,368,170 | €1,194,642 | -€173,528 | -12.7% |
| Cash at bank and in hand | 54/58 | €115,543 | €530,753 | +€415,210 | +359.4% |
| Deferred charges and accrued income | 490/1 | €1,253 | €19,357 | +€18,104 | +1444.4% |
| Total equity and liabilities | 10/49 | €2,672,615 | €2,998,082 | +€325,466 | +12.2% |
| Equity | 10/15 | €412,192 | €418,944 | +€6,752 | +1.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €393,592 | €400,344 | +€6,752 | +1.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €50,000 | €50,000 | = | 0.0% |
| Distributable reserves | 133 | €341,732 | €348,484 | +€6,752 | +2.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,260,423 | €2,579,137 | +€318,714 | +14.1% |
| Amounts payable after more than one year | 17 | €225,898 | €242,929 | +€17,030 | +7.5% |
| Financial debts | 170/4 | €225,898 | €242,929 | +€17,030 | +7.5% |
| Amounts payable within one year | 42/48 | €2,034,525 | €2,336,209 | +€301,684 | +14.8% |
| Current portion of amounts payable after more than one year | 42 | €78,253 | €91,859 | +€13,607 | +17.4% |
| Financial debts | 43 | €170,393 | €0 | -€170,393 | -100.0% |
| Other loans | 439 | €170,393 | €0 | -€170,393 | -100.0% |
| Trade debts | 44 | €288,828 | €130,956 | -€157,872 | -54.7% |
| Suppliers | 440/4 | €288,828 | €130,956 | -€157,872 | -54.7% |
| Advances received on contracts in progress | 46 | €5,011 | €28,913 | +€23,902 | +477.0% |
| Taxes, remuneration and social security | 45 | €44,838 | €40,308 | -€4,531 | -10.1% |
| Taxes | 450/3 | €4,143 | €9,700 | +€5,557 | +134.1% |
| Remuneration and social security | 454/9 | €40,695 | €30,607 | -€10,088 | -24.8% |
| Other amounts payable | 47/48 | €1,447,202 | €2,044,173 | +€596,971 | +41.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €3,636 | €0 | -€3,636 | -100.0% |
| Remuneration, social security and pensions | 62 | €603,077 | €584,483 | -€18,594 | -3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126,260 | €189,609 | +€63,349 | +50.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €36,000 | -€12,000 | -€48,000 | |
| Other operating charges | 640/8 | €29,365 | €24,624 | -€4,740 | -16.1% |
| Gross operating margin | 9900 | €1,909,930 | €1,535,271 | -€374,659 | -19.6% |
| Operating profit (loss) | 9901 | €1,115,229 | €748,555 | -€366,674 | -32.9% |
| Financial income | 75/76B | €22,330 | €28,797 | +€6,467 | +29.0% |
| Recurring financial income | 75 | €22,330 | €28,797 | +€6,467 | +29.0% |
| Financial charges | 65/66B | €6,970 | €13,065 | +€6,095 | +87.4% |
| Recurring financial charges | 65 | €6,970 | €13,065 | +€6,095 | +87.4% |
| Profit (loss) for the period before taxes | 9903 | €1,130,589 | €764,287 | -€366,302 | -32.4% |
| Income taxes | 67/77 | €3,217 | €17,535 | +€14,318 | +445.1% |
| Profit (loss) for the period | 9904 | €1,127,372 | €746,752 | -€380,620 | -33.8% |
| Profit (loss) for the period to be appropriated | 9905 | €1,127,372 | €746,752 | -€380,620 | -33.8% |
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 28 September 2026 via checked.be.