MCR Operations: 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.
MCR Operations
Largest movements
- Tangible fixed assets -€116,440
down €116,440 (-6.3%), from €1.8m to €1.7m
of which Other tangible fixed assets: -€112,990
- Receivables within one year -€27,893
down €27,893 (-30.9%), from €90,185 to €62,292
of which Other amounts receivable: -€15,871
- Profit (loss) carried forward -€266,292
down €266,292 (-368.4%), from -€72,275 to -€338,567
- Other debts +€181,443
up €181,443 (+385.6%), from €47,049 to €228,492
- Debts after one year -€67,428
down €67,428 (-3.8%), from €1.8m to €1.7m
- Advances received -€58,838
down €58,838 (-65.4%), from €89,920 to €31,082
- Tax, wage and social debts +€57,219
up €57,219 (+3474.9%), from €1,647 to €58,866
of which Remuneration and social security: +€48,038
- Staff costs +€209,858
new in 2025: €209,858
- Gross operating margin +€140,759
up €140,759 (+1358.2%), from €10,364 to €151,123
- Depreciation +€70,096
up €70,096 (+103.4%), from €67,787 to €137,883
- Financial charges +€48,335
up €48,335 (+229.6%), from €21,052 to €69,387
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 | €1,948,540 | €1,813,445 | -€135,094 | -6.9% |
| Formation expenses | 20 | €1,141 | €686 | -€455 | -39.9% |
| Fixed assets | 21/28 | €1,841,138 | €1,730,795 | -€110,343 | -6.0% |
| Intangible fixed assets | 21 | - | €6,097 | +€6,097 | |
| Tangible fixed assets | 22/27 | €1,841,138 | €1,724,698 | -€116,440 | -6.3% |
| Plant, machinery and equipment | 23 | - | €1,850 | +€1,850 | |
| Furniture and vehicles | 24 | €52,149 | €46,849 | -€5,300 | -10.2% |
| Other tangible fixed assets | 26 | €1,788,989 | €1,675,999 | -€112,990 | -6.3% |
| Current assets | 29/58 | €106,261 | €81,965 | -€24,296 | -22.9% |
| Amounts receivable within one year | 40/41 | €90,185 | €62,292 | -€27,893 | -30.9% |
| Trade receivables | 40 | €74,314 | €62,292 | -€12,022 | -16.2% |
| Other amounts receivable | 41 | €15,871 | - | -€15,871 | |
| Cash at bank and in hand | 54/58 | €11,855 | €15,200 | +€3,346 | +28.2% |
| Deferred charges and accrued income | 490/1 | €4,221 | €4,473 | +€251 | +5.9% |
| Total equity and liabilities | 10/49 | €1,948,540 | €1,813,445 | -€135,094 | -6.9% |
| Equity | 10/15 | -€71,975 | -€338,267 | -€266,292 | -370.0% |
| Contributions | 10/11 | €300 | €300 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€72,275 | -€338,567 | -€266,292 | -368.4% |
| Amounts payable | 17/49 | €2,020,515 | €2,151,713 | +€131,198 | +6.5% |
| Amounts payable after more than one year | 17 | €1,771,848 | €1,704,420 | -€67,428 | -3.8% |
| Financial debts | 170/4 | €1,771,848 | €1,704,420 | -€67,428 | -3.8% |
| Amounts payable within one year | 42/48 | €248,666 | €447,291 | +€198,624 | +79.9% |
| Current portion of amounts payable after more than one year | 42 | €38,152 | €72,931 | +€34,778 | +91.2% |
| Trade debts | 44 | €71,898 | €55,920 | -€15,978 | -22.2% |
| Suppliers | 440/4 | €71,898 | €55,920 | -€15,978 | -22.2% |
| Advances received on contracts in progress | 46 | €89,920 | €31,082 | -€58,838 | -65.4% |
| Taxes, remuneration and social security | 45 | €1,647 | €58,866 | +€57,219 | +3474.9% |
| Taxes | 450/3 | €1,647 | €10,828 | +€9,181 | +557.6% |
| Remuneration and social security | 454/9 | - | €48,038 | +€48,038 | |
| Other amounts payable | 47/48 | €47,049 | €228,492 | +€181,443 | +385.6% |
| Accrued charges and deferred income | 492/3 | €1 | €2 | +€1 | +100.0% |
| Remuneration, social security and pensions | 62 | - | €209,858 | +€209,858 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,787 | €137,883 | +€70,096 | +103.4% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €10,364 | €151,123 | +€140,759 | +1358.2% |
| Operating profit (loss) | 9901 | -€57,810 | -€197,017 | -€139,207 | -240.8% |
| Financial income | 75/76B | €0 | €112 | +€112 | +139975.0% |
| Recurring financial income | 75 | €0 | €112 | +€112 | +139975.0% |
| Financial charges | 65/66B | €21,052 | €69,387 | +€48,335 | +229.6% |
| Recurring financial charges | 65 | €21,052 | €69,387 | +€48,335 | +229.6% |
| Profit (loss) for the period before taxes | 9903 | -€78,862 | -€266,292 | -€187,430 | -237.7% |
| Profit (loss) for the period | 9904 | -€78,862 | -€266,292 | -€187,430 | -237.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€78,862 | -€266,292 | -€187,430 | -237.7% |
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 9 October 2026 via checked.be.