MCIM: 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.
MCIM
Largest movements
- Tangible fixed assets -€86,395
down €86,395 (-7.0%), from €1.2m to €1.1m
of which Land and buildings: -€83,742
- Receivables within one year +€65,391
up €65,391 (+27.6%), from €236,758 to €302,148
of which Other amounts receivable: +€108,931
- Cash +€45,122
up €45,122 (+145.7%), from €30,961 to €76,083
mainly Other debts (+€219,434) and Net result for the year (+€124,006)
- Receivables after one year +€43,195
up €43,195 (+19.8%), from €218,380 to €261,576
- Other debts +€219,434
up €219,434 (+2887.3%), from €7,600 to €227,034
- Reserves -€89,728
down €89,728 (-12.7%), from €707,866 to €618,138
- Debts after one year -€55,504
down €55,504 (-6.3%), from €879,566 to €824,062
- Gross operating margin +€36,263
up €36,263 (+14.7%), from €246,652 to €282,915
- Staff costs -€23,285
no longer reported in 2025 (was €23,285)
- Taxes +€14,191
up €14,191 (+56.6%), from €25,073 to €39,264
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 | €1,729,734 | €1,801,676 | +€71,942 | +4.2% |
| Fixed assets | 21/28 | €1,233,783 | €1,150,139 | -€83,645 | -6.8% |
| Tangible fixed assets | 22/27 | €1,233,783 | €1,147,389 | -€86,395 | -7.0% |
| Land and buildings | 22 | €1,218,380 | €1,134,638 | -€83,742 | -6.9% |
| Furniture and vehicles | 24 | €15,404 | €12,751 | -€2,653 | -17.2% |
| Financial fixed assets | 28 | - | €2,750 | +€2,750 | |
| Current assets | 29/58 | €495,950 | €651,537 | +€155,587 | +31.4% |
| Amounts receivable after more than one year | 29 | €218,380 | €261,576 | +€43,195 | +19.8% |
| Other amounts receivable | 291 | €218,380 | €261,576 | +€43,195 | +19.8% |
| Amounts receivable within one year | 40/41 | €236,758 | €302,148 | +€65,391 | +27.6% |
| Trade receivables | 40 | €104,860 | €61,320 | -€43,540 | -41.5% |
| Other amounts receivable | 41 | €131,897 | €240,828 | +€108,931 | +82.6% |
| Cash at bank and in hand | 54/58 | €30,961 | €76,083 | +€45,122 | +145.7% |
| Deferred charges and accrued income | 490/1 | €9,851 | €11,730 | +€1,879 | +19.1% |
| Total equity and liabilities | 10/49 | €1,729,734 | €1,801,676 | +€71,942 | +4.2% |
| Equity | 10/15 | €726,466 | €636,738 | -€89,728 | -12.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €707,866 | €618,138 | -€89,728 | -12.7% |
| Distributable reserves | 133 | €707,866 | €618,138 | -€89,728 | -12.7% |
| Amounts payable | 17/49 | €1,003,268 | €1,164,938 | +€161,670 | +16.1% |
| Amounts payable after more than one year | 17 | €879,566 | €824,062 | -€55,504 | -6.3% |
| Financial debts | 170/4 | €879,566 | €824,062 | -€55,504 | -6.3% |
| Amounts payable within one year | 42/48 | €117,973 | €335,147 | +€217,174 | +184.1% |
| Current portion of amounts payable after more than one year | 42 | €61,010 | €61,824 | +€814 | +1.3% |
| Trade debts | 44 | €19,523 | €9,336 | -€10,187 | -52.2% |
| Suppliers | 440/4 | €19,523 | €9,336 | -€10,187 | -52.2% |
| Taxes, remuneration and social security | 45 | €29,840 | €36,952 | +€7,113 | +23.8% |
| Taxes | 450/3 | €24,407 | €36,952 | +€12,545 | +51.4% |
| Remuneration and social security | 454/9 | €5,432 | - | -€5,432 | |
| Other amounts payable | 47/48 | €7,600 | €227,034 | +€219,434 | +2887.3% |
| Accrued charges and deferred income | 492/3 | €5,729 | €5,729 | = | 0.0% |
| Non-recurring operating income | 76A | - | €659 | +€659 | |
| Remuneration, social security and pensions | 62 | €23,285 | - | -€23,285 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €99,146 | €99,852 | +€706 | +0.7% |
| Other operating charges | 640/8 | €9,852 | €12,343 | +€2,491 | +25.3% |
| Gross operating margin | 9900 | €246,652 | €282,915 | +€36,263 | +14.7% |
| Operating profit (loss) | 9901 | €114,369 | €170,720 | +€56,352 | +49.3% |
| Financial income | 75/76B | €6,245 | €7,568 | +€1,323 | +21.2% |
| Recurring financial income | 75 | €6,245 | €7,568 | +€1,323 | +21.2% |
| Financial charges | 65/66B | €15,735 | €15,018 | -€717 | -4.6% |
| Recurring financial charges | 65 | €15,735 | €15,018 | -€717 | -4.6% |
| Profit (loss) for the period before taxes | 9903 | €104,878 | €163,270 | +€58,392 | +55.7% |
| Income taxes | 67/77 | €25,073 | €39,264 | +€14,191 | +56.6% |
| Profit (loss) for the period | 9904 | €79,805 | €124,006 | +€44,201 | +55.4% |
| Profit (loss) for the period to be appropriated | 9905 | €79,805 | €124,006 | +€44,201 | +55.4% |
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 28 September 2026 via checked.be.