MCO developpement: what changed
MCO developpement
Largest movements
- Financial fixed assets +€420,922
up €420,922 (+121%), from €347,252 to €768,174
- Cash +€35,487
up €35,487 (+253%), from €14,028 to €49,514
mainly Debts after one year (+€302,289) and Current portion of long-term debt (+€61,728)
- Receivables within one year -€20,770
down €20,770 (-100%), from €20,770 to €0
of which Trade receivables: -€15,925
- Debts after one year +€302,289
up €302,289 (+132%), from €229,156 to €531,445
- Current portion of long-term debt +€61,728
up €61,728 (+151%), from €40,983 to €102,711
- Profit (loss) carried forward +€48,035
up €48,035 (+70.4%), from €68,203 to €116,238
- Tax, wage and social debts +€35,324
up €35,324 (+187%), from €18,889 to €54,214
- Trade debts -€13,448
down €13,448 (-90.8%), from €14,817 to €1,369
- Gross operating margin +€34,649
up €34,649 (+61.9%), from €55,945 to €90,595
- Taxes +€5,733
up €5,733 (+40.9%), from €14,004 to €19,738
- Financial charges +€1,866
up €1,866 (+17.7%), from €10,556 to €12,422
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €382,049 | €817,688 | +€435,639 | +114% |
| Fixed assets | 21/28 | €347,252 | €768,174 | +€420,922 | +121% |
| Financial fixed assets | 28 | €347,252 | €768,174 | +€420,922 | +121% |
| Current assets | 29/58 | €34,797 | €49,514 | +€14,717 | +42.3% |
| Amounts receivable within one year | 40/41 | €20,770 | €0 | -€20,770 | -100% |
| Trade receivables | 40 | €15,925 | €0 | -€15,925 | -100% |
| Other amounts receivable | 41 | €4,845 | €0 | -€4,845 | -100% |
| Cash at bank and in hand | 54/58 | €14,028 | €49,514 | +€35,487 | +253% |
| Total equity and liabilities | 10/49 | €382,049 | €817,688 | +€435,639 | +114% |
| Equity | 10/15 | €78,203 | €126,238 | +€48,035 | +61.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €68,203 | €116,238 | +€48,035 | +70.4% |
| Amounts payable | 17/49 | €303,846 | €691,451 | +€387,604 | +128% |
| Amounts payable after more than one year | 17 | €229,156 | €531,445 | +€302,289 | +132% |
| Financial debts | 170/4 | €229,156 | €531,445 | +€302,289 | +132% |
| Amounts payable within one year | 42/48 | €74,690 | €160,006 | +€85,315 | +114% |
| Current portion of amounts payable after more than one year | 42 | €40,983 | €102,711 | +€61,728 | +151% |
| Trade debts | 44 | €14,817 | €1,369 | -€13,448 | -90.8% |
| Suppliers | 440/4 | €14,817 | €1,369 | -€13,448 | -90.8% |
| Taxes, remuneration and social security | 45 | €18,889 | €54,214 | +€35,324 | +187% |
| Taxes | 450/3 | €18,889 | €54,214 | +€35,324 | +187% |
| Other amounts payable | 47/48 | - | €1,711 | +€1,711 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €0 | €400 | +€400 | |
| Gross operating margin | 9900 | €55,945 | €90,595 | +€34,649 | +61.9% |
| Operating profit (loss) | 9901 | €55,945 | €90,195 | +€34,250 | +61.2% |
| Financial charges | 65/66B | €10,556 | €12,422 | +€1,866 | +17.7% |
| Recurring financial charges | 65 | €10,556 | €12,422 | +€1,866 | +17.7% |
| Profit (loss) for the period before taxes | 9903 | €45,390 | €77,773 | +€32,383 | +71.3% |
| Income taxes | 67/77 | €14,004 | €19,738 | +€5,733 | +40.9% |
| Profit (loss) for the period | 9904 | €31,385 | €58,035 | +€26,650 | +84.9% |
| Profit (loss) for the period to be appropriated | 9905 | €31,385 | €58,035 | +€26,650 | +84.9% |
Next steps
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 4 November 2026 via checked.be.