MCS PROJECTS: 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.
MCS PROJECTS
Largest movements
- Receivables within one year +€28,932
up €28,932 (+77.7%), from €37,234 to €66,166
of which Trade receivables: +€14,611
- Tangible fixed assets -€8,540
down €8,540 (-42.7%), from €19,986 to €11,446
- Cash -€7,375
down €7,375 (-49.2%), from €15,002 to €7,628
mainly Receivables within one year (-€28,932) and Tax, wage and social debts (-€14,051)
- Profit (loss) carried forward +€27,201
up €27,201 (+50.6%), from €53,733 to €80,934
- Tax, wage and social debts -€14,051
down €14,051 (-86.4%), from €16,267 to €2,216
- Gross operating margin +€60,364
up €60,364, from -€17,392 to €42,972
- Financial charges +€1,963
up €1,963 (+29.5%), from €6,652 to €8,614
- Depreciation -€1,200
down €1,200 (-13.4%), from €8,964 to €7,764
- Financial income +€936
up €936 (+231%), from €405 to €1,341
- Taxes +€445
up €445 (+347%), from €128 to €573
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 | €72,223 | €85,240 | +€13,017 | +18.0% |
| Fixed assets | 21/28 | €19,986 | €11,446 | -€8,540 | -42.7% |
| Tangible fixed assets | 22/27 | €19,986 | €11,446 | -€8,540 | -42.7% |
| Furniture and vehicles | 24 | €19,986 | €11,446 | -€8,540 | -42.7% |
| Current assets | 29/58 | €52,236 | €73,794 | +€21,557 | +41.3% |
| Amounts receivable within one year | 40/41 | €37,234 | €66,166 | +€28,932 | +77.7% |
| Trade receivables | 40 | €17,634 | €32,246 | +€14,611 | +82.9% |
| Other amounts receivable | 41 | €19,600 | €33,920 | +€14,321 | +73.1% |
| Cash at bank and in hand | 54/58 | €15,002 | €7,628 | -€7,375 | -49.2% |
| Total equity and liabilities | 10/49 | €72,223 | €85,240 | +€13,017 | +18.0% |
| Equity | 10/15 | €54,733 | €81,934 | +€27,201 | +49.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €53,733 | €80,934 | +€27,201 | +50.6% |
| Amounts payable | 17/49 | €17,489 | €3,306 | -€14,184 | -81.1% |
| Amounts payable within one year | 42/48 | €17,489 | €3,306 | -€14,184 | -81.1% |
| Trade debts | 44 | €1,223 | €1,090 | -€133 | -10.9% |
| Suppliers | 440/4 | €1,223 | €1,090 | -€133 | -10.9% |
| Taxes, remuneration and social security | 45 | €16,267 | €2,216 | -€14,051 | -86.4% |
| Taxes | 450/3 | €16,267 | €2,216 | -€14,051 | -86.4% |
| Non-recurring operating income | 76A | - | €224 | +€224 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,964 | €7,764 | -€1,200 | -13.4% |
| Other operating charges | 640/8 | €503 | €161 | -€342 | -68.0% |
| Gross operating margin | 9900 | -€17,392 | €42,972 | +€60,364 | |
| Operating profit (loss) | 9901 | -€26,859 | €35,047 | +€61,906 | |
| Financial income | 75/76B | €405 | €1,341 | +€936 | +231% |
| Recurring financial income | 75 | €405 | €1,341 | +€936 | +231% |
| Financial charges | 65/66B | €6,652 | €8,614 | +€1,963 | +29.5% |
| Recurring financial charges | 65 | €6,652 | €8,614 | +€1,963 | +29.5% |
| Profit (loss) for the period before taxes | 9903 | -€33,105 | €27,774 | +€60,879 | |
| Income taxes | 67/77 | €128 | €573 | +€445 | +347% |
| Profit (loss) for the period | 9904 | -€33,233 | €27,201 | +€60,434 | |
| Profit (loss) for the period to be appropriated | 9905 | -€33,233 | €27,201 | +€60,434 |
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 14 October 2026 via checked.be.