MCONNECT: 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.
What changed
MCONNECT
NACE 46.711, Wholesale of cars and light vans (up to 3.5 tonnes)
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€641,165
2024 · €1.3m-€631,868
Equity
€4.4m
2024 · €4.7m-€358,835
Cash
€618,115
2024 · €380,918+€237,197
Balance sheet total
€7.1m
2024 · €9.6m-€2.5m
Largest movements
Assets
- Stocks and contracts -€3.0m
down €3.0m (-54.2%), from €5.5m to €2.5m
- Current investments +€311,501
up €311,501 (+126%), from €247,855 to €559,355
- Cash +€237,197
up €237,197 (+62.3%), from €380,918 to €618,115
mainly Stocks and contracts (+€3.0m) and Net result for the year (+€641,165)
- Receivables within one year -€195,430
down €195,430 (-20.3%), from €962,066 to €766,635
of which Trade receivables: -€205,595
- Tangible fixed assets +€127,518
up €127,518 (+55.1%), from €231,365 to €358,883
of which Land and buildings: +€139,037
Equity and liabilities
- Other debts -€1.2m
down €1.2m (-94.1%), from €1.3m to €76,269
- Reserves -€421,000
down €421,000 (-31.9%), from €1.3m to €898,590
of which Tax-exempt reserves: -€421,000
- Advances received -€407,714
down €407,714 (-75.5%), from €539,990 to €132,276
- Debts after one year -€271,255
down €271,255 (-15.8%), from €1.7m to €1.5m
- Trade debts -€163,681
down €163,681 (-56.7%), from €288,593 to €124,912
Income statement
- Turnover -€5.8m
down €5.8m (-14.0%), from €41.6m to €35.8m
- Goods and materials -€5.0m
down €5.0m (-12.7%), from €39.0m to €34.0m
of which Purchases: -€6.8m
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.
Result 2024
€1.3m
Turnover
-€5.8m
Other operating income
-€28,970
Goods and materials
+€5.0m
Services and other goods
+€89,187
Staff costs
-€112,825
Depreciation
-€7,508
Other operating charges
-€8,788
Other operating items
+€131,122
Financial income
-€31,485
Financial charges
+€2,374
Taxes
+€204,385
Result 2025
€641,165
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€2.0m
Investment
-€459,322
Financing
-€1.3m
Cash 2024
€380,918
From operations (derived)
+€2.0m
Net result for the year
+€641,165
Depreciation
+€20,565
Receivables after one year
-€17,556
Stocks and contracts
+€3.0m
Receivables within one year
+€195,430
Smaller working-capital items
+€33
Trade debts
-€163,681
Tax, wage and social debts
-€34,533
Advances received
-€407,714
Other debts
-€1.2m
Investment (derived)
-€459,322
Investment in fixed assets (net)
-€147,821
Current investments
-€311,501
Financing
-€1.3m
Debts after one year
-€271,255
Current portion of long-term debt
-€16,337
Contributions, distributions and other
-€1.0m
Cash 2025
€618,115
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,555,602 | €7,092,541 | -€2.5m | -25.8% |
| Fixed assets | 21/28 | €2,461,316 | €2,588,571 | +€127,255 | +5.2% |
| Tangible fixed assets | 22/27 | €231,365 | €358,883 | +€127,518 | +55.1% |
| Land and buildings | 22 | €179,622 | €318,659 | +€139,037 | +77.4% |
| Plant, machinery and equipment | 23 | €4,642 | €2,068 | -€2,574 | -55.5% |
| Furniture and vehicles | 24 | €23,908 | €16,792 | -€7,116 | -29.8% |
| Other tangible fixed assets | 26 | €23,193 | €21,364 | -€1,828 | -7.9% |
| Financial fixed assets | 28 | €2,229,950 | €2,229,688 | -€263 | 0.0% |
| Affiliated companies | 280/1 | €2,225,400 | €2,225,400 | = | 0.0% |
| Participating interests | 280 | €2,225,400 | €2,225,400 | = | 0.0% |
| Other financial fixed assets | 284/8 | €4,550 | €4,288 | -€263 | -5.8% |
| Amounts receivable and cash guarantees | 285/8 | €4,550 | €4,288 | -€263 | -5.8% |
| Current assets | 29/58 | €7,094,287 | €4,503,970 | -€2.6m | -36.5% |
| Amounts receivable after more than one year | 29 | - | €17,556 | +€17,556 | |
| Other amounts receivable | 291 | - | €17,556 | +€17,556 | |
| Stocks and contracts in progress | 3 | €5,453,370 | €2,496,352 | -€3.0m | -54.2% |
| Stocks | 30/36 | €5,453,370 | €2,496,352 | -€3.0m | -54.2% |
| Goods purchased for resale | 34 | €4,436,931 | €1,742,047 | -€2.7m | -60.7% |
| Advance payments | 36 | €1,016,439 | €754,305 | -€262,133 | -25.8% |
| Amounts receivable within one year | 40/41 | €962,066 | €766,635 | -€195,430 | -20.3% |
| Trade receivables | 40 | €379,984 | €174,390 | -€205,595 | -54.1% |
| Other amounts receivable | 41 | €582,081 | €592,246 | +€10,164 | +1.7% |
| Current investments | 50/53 | €247,855 | €559,355 | +€311,501 | +126% |
| Other investments | 51/53 | €247,855 | €559,355 | +€311,501 | +126% |
| Cash at bank and in hand | 54/58 | €380,918 | €618,115 | +€237,197 | +62.3% |
| Deferred charges and accrued income | 490/1 | €50,080 | €45,957 | -€4,123 | -8.2% |
| Total equity and liabilities | 10/49 | €9,555,602 | €7,092,541 | -€2.5m | -25.8% |
| Equity | 10/15 | €4,737,310 | €4,378,475 | -€358,835 | -7.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,319,590 | €898,590 | -€421,000 | -31.9% |
| Tax-exempt reserves | 132 | €1,317,730 | €896,730 | -€421,000 | -31.9% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,399,120 | €3,461,285 | +€62,165 | +1.8% |
| Amounts payable | 17/49 | €4,818,292 | €2,714,067 | -€2.1m | -43.7% |
| Amounts payable after more than one year | 17 | €1,721,579 | €1,450,324 | -€271,255 | -15.8% |
| Financial debts | 170/4 | €1,721,579 | €1,450,324 | -€271,255 | -15.8% |
| Credit institutions | 173 | €1,721,579 | €1,450,324 | -€271,255 | -15.8% |
| Amounts payable within one year | 42/48 | €3,092,484 | €1,263,604 | -€1.8m | -59.1% |
| Current portion of amounts payable after more than one year | 42 | €704,259 | €687,922 | -€16,337 | -2.3% |
| Trade debts | 44 | €288,593 | €124,912 | -€163,681 | -56.7% |
| Suppliers | 440/4 | €288,593 | €124,912 | -€163,681 | -56.7% |
| Advances received on contracts in progress | 46 | €539,990 | €132,276 | -€407,714 | -75.5% |
| Taxes, remuneration and social security | 45 | €276,758 | €242,226 | -€34,533 | -12.5% |
| Taxes | 450/3 | €249,524 | €202,475 | -€47,049 | -18.9% |
| Remuneration and social security | 454/9 | €27,234 | €39,751 | +€12,517 | +46.0% |
| Other amounts payable | 47/48 | €1,282,884 | €76,269 | -€1.2m | -94.1% |
| Accrued charges and deferred income | 492/3 | €4,229 | €138 | -€4,090 | -96.7% |
| Operating income | 70/76A | €41,773,551 | €36,001,443 | -€5.8m | -13.8% |
| Turnover | 70 | €41,625,317 | €35,785,629 | -€5.8m | -14.0% |
| Other operating income | 74 | €63,812 | €34,842 | -€28,970 | -45.4% |
| Non-recurring operating income | 76A | €84,423 | €180,972 | +€96,549 | +114% |
| Operating charges | 60/66A | €40,049,282 | €35,084,316 | -€5.0m | -12.4% |
| Goods for resale, raw materials and consumables | 60 | €39,004,630 | €34,034,302 | -€5.0m | -12.7% |
| Purchases | 600/8 | €38,135,498 | €31,339,418 | -€6.8m | -17.8% |
| Change in stocks: decrease (increase) | 609 | €869,131 | €2,694,884 | +€1.8m | +210% |
| Services and other goods | 61 | €726,731 | €637,544 | -€89,187 | -12.3% |
| Remuneration, social security and pensions | 62 | €237,932 | €350,757 | +€112,825 | +47.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,057 | €20,565 | +€7,508 | +57.5% |
| Other operating charges | 640/8 | €5,587 | €14,375 | +€8,788 | +157% |
| Non-recurring operating charges | 66A | €61,345 | €26,773 | -€34,573 | -56.4% |
| Operating profit (loss) | 9901 | €1,724,269 | €917,127 | -€807,142 | -46.8% |
| Financial income | 75/76B | €109,482 | €77,997 | -€31,485 | -28.8% |
| Recurring financial income | 75 | €109,482 | €77,997 | -€31,485 | -28.8% |
| Income from current assets | 751 | €23,303 | €51,118 | +€27,815 | +119% |
| Other financial income | 752/9 | €86,178 | €26,878 | -€59,300 | -68.8% |
| Financial charges | 65/66B | €123,293 | €120,919 | -€2,374 | -1.9% |
| Recurring financial charges | 65 | €123,293 | €120,919 | -€2,374 | -1.9% |
| Debt charges | 650 | €110,325 | €102,430 | -€7,895 | -7.2% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €0 | - | = | |
| Other financial charges | 652/9 | €12,967 | €18,489 | +€5,522 | +42.6% |
| Profit (loss) for the period before taxes | 9903 | €1,710,458 | €874,205 | -€836,253 | -48.9% |
| Income taxes | 67/77 | €437,425 | €233,041 | -€204,385 | -46.7% |
| Taxes | 670/3 | €437,425 | €233,041 | -€204,385 | -46.7% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €1,273,032 | €641,165 | -€631,868 | -49.6% |
| Transfer from tax-exempt reserves | 789 | - | €421,000 | +€421,000 | |
| Transfer to tax-exempt reserves | 689 | €159,980 | €0 | -€159,980 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €1,113,052 | €1,062,165 | -€50,888 | -4.6% |
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 28 October 2026 via checked.be.