MCore Services: 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.
MCore Services
Largest movements
- Receivables within one year +€17,862
up €17,862 (+18.9%), from €94,660 to €112,522
of which Other amounts receivable: +€13,229
- Tangible fixed assets -€2,582
down €2,582 (-42.9%), from €6,019 to €3,438
of which Plant, machinery and equipment: -€1,804
- Deferred charges and accrued income +€2,517
up €2,517 (+99.8%), from €2,522 to €5,039
- Tax, wage and social debts +€28,625
up €28,625 (+112%), from €25,653 to €54,278
- Profit (loss) carried forward +€10,381
up €10,381 (+35.5%), from -€29,219 to -€18,838
- Short-term financial debts -€8,218
down €8,218 (-27.5%), from €29,833 to €21,615
- Debts after one year -€7,898
down €7,898 (-31.2%), from €25,280 to €17,381
- Trade debts -€4,246
down €4,246 (-30.9%), from €13,729 to €9,483
- Taxes -€3,180
down €3,180 (-100%), from €3,180 to €0
- Financial income +€1,893
up €1,893 (+48.7%), from €3,887 to €5,780
- Other operating charges +€1,580
up €1,580, from €0 to €1,580
- Depreciation -€944
down €944 (-26.8%), from €3,526 to €2,582
- Gross operating margin +€672
up €672 (+4.3%), from €15,789 to €16,461
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 | €104,228 | €122,872 | +€18,644 | +17.9% |
| Fixed assets | 21/28 | €6,019 | €3,438 | -€2,582 | -42.9% |
| Tangible fixed assets | 22/27 | €6,019 | €3,438 | -€2,582 | -42.9% |
| Plant, machinery and equipment | 23 | €4,595 | €2,792 | -€1,804 | -39.2% |
| Furniture and vehicles | 24 | €1,424 | €646 | -€778 | -54.7% |
| Current assets | 29/58 | €98,208 | €119,434 | +€21,226 | +21.6% |
| Amounts receivable within one year | 40/41 | €94,660 | €112,522 | +€17,862 | +18.9% |
| Trade receivables | 40 | €13,597 | €18,230 | +€4,633 | +34.1% |
| Other amounts receivable | 41 | €81,063 | €94,292 | +€13,229 | +16.3% |
| Cash at bank and in hand | 54/58 | €1,027 | €1,874 | +€847 | +82.5% |
| Deferred charges and accrued income | 490/1 | €2,522 | €5,039 | +€2,517 | +99.8% |
| Total equity and liabilities | 10/49 | €104,228 | €122,872 | +€18,644 | +17.9% |
| Equity | 10/15 | -€4,219 | €6,162 | +€10,381 | |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€29,219 | -€18,838 | +€10,381 | +35.5% |
| Amounts payable | 17/49 | €108,446 | €116,709 | +€8,263 | +7.6% |
| Amounts payable after more than one year | 17 | €25,280 | €17,381 | -€7,898 | -31.2% |
| Financial debts | 170/4 | €25,280 | €17,381 | -€7,898 | -31.2% |
| Amounts payable within one year | 42/48 | €83,167 | €99,328 | +€16,161 | +19.4% |
| Current portion of amounts payable after more than one year | 42 | €13,952 | €13,952 | = | 0.0% |
| Financial debts | 43 | €29,833 | €21,615 | -€8,218 | -27.5% |
| Credit institutions | 430/8 | €29,833 | €21,615 | -€8,218 | -27.5% |
| Trade debts | 44 | €13,729 | €9,483 | -€4,246 | -30.9% |
| Suppliers | 440/4 | €13,729 | €9,483 | -€4,246 | -30.9% |
| Taxes, remuneration and social security | 45 | €25,653 | €54,278 | +€28,625 | +112% |
| Taxes | 450/3 | €25,653 | €54,278 | +€28,625 | +112% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | -€127 | €0 | +€127 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,526 | €2,582 | -€944 | -26.8% |
| Other operating charges | 640/8 | €0 | €1,580 | +€1,580 | |
| Gross operating margin | 9900 | €15,789 | €16,461 | +€672 | +4.3% |
| Operating profit (loss) | 9901 | €12,390 | €12,300 | -€90 | -0.7% |
| Financial income | 75/76B | €3,887 | €5,780 | +€1,893 | +48.7% |
| Recurring financial income | 75 | €3,887 | €5,780 | +€1,893 | +48.7% |
| Financial charges | 65/66B | €7,307 | €7,699 | +€392 | +5.4% |
| Recurring financial charges | 65 | €7,307 | €7,699 | +€392 | +5.4% |
| Profit (loss) for the period before taxes | 9903 | €8,969 | €10,381 | +€1,412 | +15.7% |
| Income taxes | 67/77 | €3,180 | €0 | -€3,180 | -100% |
| Profit (loss) for the period | 9904 | €5,790 | €10,381 | +€4,591 | +79.3% |
| Profit (loss) for the period to be appropriated | 9905 | €5,790 | €10,381 | +€4,591 | +79.3% |
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 25 October 2026 via checked.be.