MCM 111: what changed
Two financial 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.
MCM 111
Largest movements
- Tangible fixed assets -€37,117
down €37,117 (-19.6%), from €188,959 to €151,842
of which Furniture and vehicles: -€21,459
- Receivables within one year -€11,241
down €11,241 (-12.9%), from €87,059 to €75,818
of which Other amounts receivable: -€13,226
- Tax, wage and social debts -€16,294
down €16,294 (-99.5%), from €16,372 to €77
- Short-term financial debts -€12,547
down €12,547 (-100%), from €12,547 to €0
- Current portion of long-term debt -€10,000
down €10,000 (-100%), from €10,000 to €0
- Profit (loss) carried forward -€8,402
down €8,402 (-73.0%), from €11,505 to €3,103
- Trade debts +€6,221
up €6,221 (+97.7%), from €6,370 to €12,591
- Gross operating margin -€7,325
down €7,325 (-19.5%), from €37,623 to €30,298
- Depreciation +€7,308
up €7,308 (+22.6%), from €32,386 to €39,694
- Taxes -€1,009
down €1,009 (-87.1%), from €1,159 to €150
- Financial charges +€573
up €573 (+40.8%), from €1,406 to €1,979
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.
Derived cash bridge
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 | €277,840 | €231,817 | -€46,023 | -16.6% |
| Fixed assets | 21/28 | €189,234 | €152,117 | -€37,117 | -19.6% |
| Tangible fixed assets | 22/27 | €188,959 | €151,842 | -€37,117 | -19.6% |
| Plant, machinery and equipment | 23 | €11,531 | €5,481 | -€6,050 | -52.5% |
| Furniture and vehicles | 24 | €101,055 | €79,596 | -€21,459 | -21.2% |
| Other tangible fixed assets | 26 | €76,372 | €66,764 | -€9,608 | -12.6% |
| Financial fixed assets | 28 | €275 | €275 | = | 0.0% |
| Current assets | 29/58 | €88,606 | €79,700 | -€8,906 | -10.1% |
| Amounts receivable within one year | 40/41 | €87,059 | €75,818 | -€11,241 | -12.9% |
| Trade receivables | 40 | €1,850 | €3,835 | +€1,985 | +107% |
| Other amounts receivable | 41 | €85,209 | €71,983 | -€13,226 | -15.5% |
| Cash at bank and in hand | 54/58 | €390 | €1,676 | +€1,287 | +330% |
| Deferred charges and accrued income | 490/1 | €1,157 | €2,206 | +€1,049 | +90.6% |
| Total equity and liabilities | 10/49 | €277,840 | €231,817 | -€46,023 | -16.6% |
| Equity | 10/15 | €232,551 | €219,149 | -€13,402 | -5.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €201,046 | €196,046 | -€5,000 | -2.5% |
| Distributable reserves | 133 | €201,046 | €196,046 | -€5,000 | -2.5% |
| Profit (loss) carried forward | 14 | €11,505 | €3,103 | -€8,402 | -73.0% |
| Amounts payable | 17/49 | €45,288 | €12,668 | -€32,620 | -72.0% |
| Amounts payable within one year | 42/48 | €45,288 | €12,668 | -€32,620 | -72.0% |
| Current portion of amounts payable after more than one year | 42 | €10,000 | €0 | -€10,000 | -100% |
| Financial debts | 43 | €12,547 | €0 | -€12,547 | -100% |
| Credit institutions | 430/8 | €12,547 | €0 | -€12,547 | -100% |
| Trade debts | 44 | €6,370 | €12,591 | +€6,221 | +97.7% |
| Suppliers | 440/4 | €6,370 | €12,591 | +€6,221 | +97.7% |
| Taxes, remuneration and social security | 45 | €16,372 | €77 | -€16,294 | -99.5% |
| Taxes | 450/3 | €16,372 | €77 | -€16,294 | -99.5% |
| Non-recurring operating income | 76A | €20,500 | €0 | -€20,500 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,386 | €39,694 | +€7,308 | +22.6% |
| Other operating charges | 640/8 | €1,978 | €1,896 | -€82 | -4.2% |
| Gross operating margin | 9900 | €37,623 | €30,298 | -€7,325 | -19.5% |
| Operating profit (loss) | 9901 | €3,259 | -€11,292 | -€14,551 | |
| Financial income | 75/76B | €0 | €18 | +€18 | +180,000% |
| Recurring financial income | 75 | €0 | €18 | +€18 | +180,000% |
| Financial charges | 65/66B | €1,406 | €1,979 | +€573 | +40.8% |
| Recurring financial charges | 65 | €1,406 | €1,979 | +€573 | +40.8% |
| Profit (loss) for the period before taxes | 9903 | €1,853 | -€13,253 | -€15,106 | |
| Income taxes | 67/77 | €1,159 | €150 | -€1,009 | -87.1% |
| Profit (loss) for the period | 9904 | €695 | -€13,402 | -€14,097 | |
| Profit (loss) for the period to be appropriated | 9905 | €695 | -€13,402 | -€14,097 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.