MCAS: what changed
What changed
MCAS
NACE 46.130, Agents in the wholesale of timber and building materials
filed annual accounts (NBB)
Net result for the year
€3,731
2024 · -€18,657+€22,388
Equity
€77,881
2024 · €74,150+€3,731
Cash
€12,457
2024 · -+€12,457
Balance sheet total
€1.3m
2024 · €1.4m-€88,686
Largest movements
Assets
- Tangible fixed assets -€149,067
down €149,067 (-11.2%), from €1.3m to €1.2m
of which Land and buildings: -€152,994
- Receivables within one year +€53,281
up €53,281 (+203%), from €26,300 to €79,581
of which Other amounts receivable: +€45,424
Equity and liabilities
- Debts after one year -€201,212
down €201,212 (-17.7%), from €1.1m to €933,316
- Current portion of long-term debt +€67,827
up €67,827 (+51.7%), from €131,301 to €199,128
- Trade debts +€30,389
up €30,389 (+363%), from €8,367 to €38,757
- Other debts -€20,006
no longer reported in 2025 (was €20,006)
- Short-term financial debts +€19,207
up €19,207 (+212%), from €9,071 to €28,278
Income statement
- Gross operating margin +€52,761
up €52,761 (+30.7%), from €171,654 to €224,415
- Depreciation +€6,571
up €6,571 (+7.6%), from €86,268 to €92,839
- Taxes +€5,325
up €5,325 (+1,999%), from €266 to €5,591
- Other operating charges +€4,441
up €4,441 (+75.9%), from €5,854 to €10,295
- Staff costs +€4,268
up €4,268 (+7.9%), from €53,777 to €58,045
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€18,657
Gross operating margin
+€52,761
Staff costs
-€4,268
Depreciation
-€6,571
Other operating charges
-€4,441
Financial income
-€15
Financial charges
-€4,220
Taxes
-€5,325
Deferred taxes and other
-€5,533
Result 2025
€3,731
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€69,291
Investment
+€57,344
Financing
-€114,178
Cash 2024
€0
From operations (derived)
+€69,291
Net result for the year
+€3,731
Depreciation
+€92,839
Stocks and contracts
+€900
Receivables within one year
-€53,281
Deferred charges and accrued income
+€3,341
Provisions
+€5,533
Trade debts
+€30,389
Tax, wage and social debts
+€5,845
Other debts
-€20,006
Investment (derived)
+€57,344
Investment in fixed assets (net)
+€57,344
Financing
-€114,178
Debts after one year
-€201,212
Current portion of long-term debt
+€67,827
Short-term financial debts
+€19,207
Cash 2025
€12,457
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,384,682 | €1,295,997 | -€88,686 | -6.4% |
| Fixed assets | 21/28 | €1,347,083 | €1,196,901 | -€150,183 | -11.1% |
| Intangible fixed assets | 21 | €10,274 | €9,158 | -€1,116 | -10.9% |
| Tangible fixed assets | 22/27 | €1,335,640 | €1,186,573 | -€149,067 | -11.2% |
| Land and buildings | 22 | €1,316,632 | €1,163,638 | -€152,994 | -11.6% |
| Plant, machinery and equipment | 23 | €14,652 | €18,230 | +€3,577 | +24.4% |
| Furniture and vehicles | 24 | €4,355 | €4,705 | +€350 | +8.0% |
| Financial fixed assets | 28 | €1,170 | €1,170 | = | 0.0% |
| Current assets | 29/58 | €37,599 | €99,096 | +€61,497 | +164% |
| Stocks and contracts in progress | 3 | €7,300 | €6,400 | -€900 | -12.3% |
| Stocks | 30/36 | €7,300 | €6,400 | -€900 | -12.3% |
| Amounts receivable within one year | 40/41 | €26,300 | €79,581 | +€53,281 | +203% |
| Trade receivables | 40 | €20,980 | €28,836 | +€7,856 | +37.4% |
| Other amounts receivable | 41 | €5,320 | €50,744 | +€45,424 | +854% |
| Cash at bank and in hand | 54/58 | - | €12,457 | +€12,457 | |
| Deferred charges and accrued income | 490/1 | €3,999 | €658 | -€3,341 | -83.5% |
| Total equity and liabilities | 10/49 | €1,384,682 | €1,295,997 | -€88,686 | -6.4% |
| Equity | 10/15 | €74,150 | €77,881 | +€3,731 | +5.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €74,207 | €90,805 | +€16,599 | +22.4% |
| Tax-exempt reserves | 132 | - | €16,599 | +€16,599 | |
| Distributable reserves | 133 | €74,207 | €74,207 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,657 | -€31,524 | -€12,868 | -69.0% |
| Provisions and deferred taxes | 16 | - | €5,533 | +€5,533 | |
| Deferred taxes | 168 | - | €5,533 | +€5,533 | |
| Amounts payable | 17/49 | €1,310,532 | €1,212,583 | -€97,949 | -7.5% |
| Amounts payable after more than one year | 17 | €1,134,528 | €933,316 | -€201,212 | -17.7% |
| Financial debts | 170/4 | €1,134,528 | €933,316 | -€201,212 | -17.7% |
| Amounts payable within one year | 42/48 | €176,005 | €279,267 | +€103,262 | +58.7% |
| Current portion of amounts payable after more than one year | 42 | €131,301 | €199,128 | +€67,827 | +51.7% |
| Financial debts | 43 | €9,071 | €28,278 | +€19,207 | +212% |
| Credit institutions | 430/8 | €9,071 | €28,278 | +€19,207 | +212% |
| Trade debts | 44 | €8,367 | €38,757 | +€30,389 | +363% |
| Suppliers | 440/4 | €8,367 | €38,757 | +€30,389 | +363% |
| Taxes, remuneration and social security | 45 | €7,260 | €13,105 | +€5,845 | +80.5% |
| Taxes | 450/3 | €4,156 | €7,689 | +€3,533 | +85.0% |
| Remuneration and social security | 454/9 | €3,104 | €5,416 | +€2,312 | +74.5% |
| Other amounts payable | 47/48 | €20,006 | - | -€20,006 | |
| Non-recurring operating income | 76A | - | €22,131 | +€22,131 | |
| Remuneration, social security and pensions | 62 | €53,777 | €58,045 | +€4,268 | +7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,268 | €92,839 | +€6,571 | +7.6% |
| Other operating charges | 640/8 | €5,854 | €10,295 | +€4,441 | +75.9% |
| Gross operating margin | 9900 | €171,654 | €224,415 | +€52,761 | +30.7% |
| Operating profit (loss) | 9901 | €25,755 | €63,236 | +€37,481 | +146% |
| Financial income | 75/76B | €75 | €59 | -€15 | -20.7% |
| Recurring financial income | 75 | €75 | €59 | -€15 | -20.7% |
| Financial charges | 65/66B | €44,221 | €48,441 | +€4,220 | +9.5% |
| Recurring financial charges | 65 | €44,221 | €48,441 | +€4,220 | +9.5% |
| Profit (loss) for the period before taxes | 9903 | -€18,390 | €14,855 | +€33,245 | |
| Transfer to deferred taxes | 680 | - | €5,533 | +€5,533 | |
| Income taxes | 67/77 | €266 | €5,591 | +€5,325 | +1,999% |
| Profit (loss) for the period | 9904 | -€18,657 | €3,731 | +€22,388 | |
| Transfer to tax-exempt reserves | 689 | - | €16,599 | +€16,599 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,657 | -€12,868 | +€5,789 | +31.0% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.