MCN: 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.
MCN
Largest movements
- Receivables within one year -€111,782
down €111,782 (-34.0%), from €328,721 to €216,939
of which Trade receivables: -€103,675
- Cash -€51,287
down €51,287 (-55.2%), from €92,892 to €41,604
mainly Trade debts (-€138,539) and Other debts (-€16,464)
- Stocks and contracts +€4,320
up €4,320 (+224.4%), from €1,925 to €6,245
- Trade debts -€138,539
down €138,539 (-57.7%), from €240,308 to €101,769
- Other debts -€16,464
down €16,464 (-29.3%), from €56,146 to €39,682
- Profit (loss) carried forward -€4,843
down €4,843 (-4.5%), from €107,039 to €102,196
- Accrued charges and deferred income -€4,724
down €4,724 (-33.3%), from €14,183 to €9,459
- Other operating charges -€104,196
down €104,196 (-92.1%), from €113,166 to €8,970
- Staff costs +€64,078
up €64,078 (+43.7%), from €146,724 to €210,802
- Gross operating margin -€48,110
down €48,110 (-17.8%), from €270,323 to €222,213
- Depreciation -€3,100
down €3,100 (-84.9%), from €3,650 to €550
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €429,938 | €268,567 | -€161,371 | -37.5% |
| Fixed assets | 21/28 | €4,329 | €3,779 | -€550 | -12.7% |
| Tangible fixed assets | 22/27 | €3,850 | €3,300 | -€550 | -14.3% |
| Plant, machinery and equipment | 23 | €3,850 | €3,300 | -€550 | -14.3% |
| Financial fixed assets | 28 | €479 | €479 | = | 0.0% |
| Current assets | 29/58 | €425,609 | €264,788 | -€160,821 | -37.8% |
| Stocks and contracts in progress | 3 | €1,925 | €6,245 | +€4,320 | +224.4% |
| Stocks | 30/36 | €1,925 | €6,245 | +€4,320 | +224.4% |
| Amounts receivable within one year | 40/41 | €328,721 | €216,939 | -€111,782 | -34.0% |
| Trade receivables | 40 | €298,316 | €194,641 | -€103,675 | -34.8% |
| Other amounts receivable | 41 | €30,405 | €22,298 | -€8,108 | -26.7% |
| Cash at bank and in hand | 54/58 | €92,892 | €41,604 | -€51,287 | -55.2% |
| Deferred charges and accrued income | 490/1 | €2,071 | - | -€2,071 | |
| Total equity and liabilities | 10/49 | €429,938 | €268,567 | -€161,371 | -37.5% |
| Equity | 10/15 | €115,099 | €110,256 | -€4,843 | -4.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €107,039 | €102,196 | -€4,843 | -4.5% |
| Amounts payable | 17/49 | €314,839 | €158,311 | -€156,528 | -49.7% |
| Amounts payable within one year | 42/48 | €300,656 | €148,852 | -€151,804 | -50.5% |
| Trade debts | 44 | €240,308 | €101,769 | -€138,539 | -57.7% |
| Suppliers | 440/4 | €240,308 | €101,769 | -€138,539 | -57.7% |
| Taxes, remuneration and social security | 45 | €4,202 | €7,401 | +€3,199 | +76.1% |
| Taxes | 450/3 | €3,578 | €7,401 | +€3,823 | +106.9% |
| Remuneration and social security | 454/9 | €624 | - | -€624 | |
| Other amounts payable | 47/48 | €56,146 | €39,682 | -€16,464 | -29.3% |
| Accrued charges and deferred income | 492/3 | €14,183 | €9,459 | -€4,724 | -33.3% |
| Remuneration, social security and pensions | 62 | €146,724 | €210,802 | +€64,078 | +43.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,650 | €550 | -€3,100 | -84.9% |
| Other operating charges | 640/8 | €113,166 | €8,970 | -€104,196 | -92.1% |
| Gross operating margin | 9900 | €270,323 | €222,213 | -€48,110 | -17.8% |
| Operating profit (loss) | 9901 | €6,783 | €1,890 | -€4,892 | -72.1% |
| Financial charges | 65/66B | €944 | €688 | -€256 | -27.1% |
| Recurring financial charges | 65 | €944 | €688 | -€256 | -27.1% |
| Profit (loss) for the period before taxes | 9903 | €5,838 | €1,202 | -€4,636 | -79.4% |
| Income taxes | 67/77 | €6,342 | €6,045 | -€297 | -4.7% |
| Profit (loss) for the period | 9904 | -€504 | -€4,843 | -€4,339 | -861.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€504 | -€4,843 | -€4,339 | -861.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.