MCO: 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.
MCO
Largest movements
- Cash +€21,333
up €21,333 (+22285.0%), from €96 to €21,429
mainly Net result for the year (+€122,845) and Depreciation (+€17,070)
- Tangible fixed assets -€17,070
down €17,070 (-3.4%), from €496,145 to €479,075
- Profit (loss) carried forward +€20,845
up €20,845 (+20.2%), from €103,354 to €124,199
- Debts after one year -€20,702
down €20,702 (-5.7%), from €366,054 to €345,352
- Tax, wage and social debts +€6,003
up €6,003 (+47.9%), from €12,534 to €18,537
- Other debts -€5,816
down €5,816 (-76.2%), from €7,629 to €1,813
- Gross operating margin +€26,302
up €26,302 (+15.9%), from €165,584 to €191,886
- Taxes +€6,965
up €6,965 (+20.2%), from €34,536 to €41,500
- Financial charges -€2,569
down €2,569 (-26.6%), from €9,642 to €7,074
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 | €514,131 | €515,983 | +€1,852 | +0.4% |
| Fixed assets | 21/28 | €496,145 | €479,075 | -€17,070 | -3.4% |
| Tangible fixed assets | 22/27 | €496,145 | €479,075 | -€17,070 | -3.4% |
| Land and buildings | 22 | €496,145 | €479,075 | -€17,070 | -3.4% |
| Current assets | 29/58 | €17,986 | €36,908 | +€18,922 | +105.2% |
| Amounts receivable within one year | 40/41 | €17,424 | €15,000 | -€2,424 | -13.9% |
| Trade receivables | 40 | €17,424 | €15,000 | -€2,424 | -13.9% |
| Cash at bank and in hand | 54/58 | €96 | €21,429 | +€21,333 | +22285.0% |
| Deferred charges and accrued income | 490/1 | €466 | €479 | +€13 | +2.8% |
| Total equity and liabilities | 10/49 | €514,131 | €515,983 | +€1,852 | +0.4% |
| Equity | 10/15 | €105,854 | €126,699 | +€20,845 | +19.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €103,354 | €124,199 | +€20,845 | +20.2% |
| Amounts payable | 17/49 | €408,277 | €389,284 | -€18,993 | -4.7% |
| Amounts payable after more than one year | 17 | €366,054 | €345,352 | -€20,702 | -5.7% |
| Financial debts | 170/4 | €366,054 | €345,352 | -€20,702 | -5.7% |
| Amounts payable within one year | 42/48 | €42,223 | €43,932 | +€1,709 | +4.0% |
| Current portion of amounts payable after more than one year | 42 | €20,371 | €20,702 | +€331 | +1.6% |
| Trade debts | 44 | €1,689 | €2,880 | +€1,191 | +70.5% |
| Suppliers | 440/4 | €1,689 | €2,880 | +€1,191 | +70.5% |
| Taxes, remuneration and social security | 45 | €12,534 | €18,537 | +€6,003 | +47.9% |
| Taxes | 450/3 | €12,534 | €18,537 | +€6,003 | +47.9% |
| Other amounts payable | 47/48 | €7,629 | €1,813 | -€5,816 | -76.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,070 | €17,070 | = | 0.0% |
| Other operating charges | 640/8 | €3,410 | €3,520 | +€110 | +3.2% |
| Gross operating margin | 9900 | €165,584 | €191,886 | +€26,302 | +15.9% |
| Operating profit (loss) | 9901 | €145,104 | €171,296 | +€26,193 | +18.1% |
| Financial income | 75/76B | €47 | €123 | +€76 | +163.4% |
| Recurring financial income | 75 | €47 | €123 | +€76 | +163.4% |
| Financial charges | 65/66B | €9,642 | €7,074 | -€2,569 | -26.6% |
| Recurring financial charges | 65 | €9,642 | €7,074 | -€2,569 | -26.6% |
| Profit (loss) for the period before taxes | 9903 | €135,508 | €164,346 | +€28,838 | +21.3% |
| Income taxes | 67/77 | €34,536 | €41,500 | +€6,965 | +20.2% |
| Profit (loss) for the period | 9904 | €100,973 | €122,845 | +€21,873 | +21.7% |
| Profit (loss) for the period to be appropriated | 9905 | €100,973 | €122,845 | +€21,873 | +21.7% |
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 10 October 2026 via checked.be.