McSign: 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.
McSign
Largest movements
- Cash +€107,498
up €107,498 (+78.4%), from €137,126 to €244,624
mainly Net result for the year (+€83,496) and Depreciation (+€63,395)
- Stocks and contracts -€37,837
down €37,837 (-100%), from €37,837 to €0
- Tangible fixed assets -€36,013
down €36,013 (-10.4%), from €347,819 to €311,806
of which Plant, machinery and equipment: -€18,142
- Reserves +€83,496
up €83,496 (+34.2%), from €244,297 to €327,793
of which Distributable reserves: +€83,496
- Debts after one year -€50,634
down €50,634 (-23.0%), from €219,815 to €169,182
- Current portion of long-term debt -€6,724
down €6,724 (-11.7%), from €57,357 to €50,634
- Gross operating margin +€45,478
up €45,478 (+21.8%), from €208,466 to €253,943
- Financial charges +€10,417
up €10,417 (+22.6%), from €46,006 to €56,423
- Taxes +€6,395
up €6,395 (+26.6%), from €24,010 to €30,405
- Other operating charges +€4,690
up €4,690 (+94.6%), from €4,958 to €9,649
- Staff costs -€2,719
down €2,719 (-20.4%), from €13,295 to €10,576
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 | €639,015 | €669,025 | +€30,010 | +4.7% |
| Fixed assets | 21/28 | €347,819 | €311,806 | -€36,013 | -10.4% |
| Tangible fixed assets | 22/27 | €347,819 | €311,806 | -€36,013 | -10.4% |
| Land and buildings | 22 | €208,973 | €202,555 | -€6,418 | -3.1% |
| Plant, machinery and equipment | 23 | €75,993 | €57,851 | -€18,142 | -23.9% |
| Furniture and vehicles | 24 | €47,164 | €33,601 | -€13,563 | -28.8% |
| Other tangible fixed assets | 26 | €15,689 | €17,799 | +€2,110 | +13.4% |
| Current assets | 29/58 | €291,196 | €357,219 | +€66,023 | +22.7% |
| Stocks and contracts in progress | 3 | €37,837 | €0 | -€37,837 | -100% |
| Contracts in progress | 37 | €37,837 | €0 | -€37,837 | -100% |
| Amounts receivable within one year | 40/41 | €85,606 | €85,351 | -€255 | -0.3% |
| Trade receivables | 40 | €84,616 | €70,124 | -€14,492 | -17.1% |
| Other amounts receivable | 41 | €990 | €15,227 | +€14,237 | +1,438% |
| Cash at bank and in hand | 54/58 | €137,126 | €244,624 | +€107,498 | +78.4% |
| Deferred charges and accrued income | 490/1 | €30,627 | €27,244 | -€3,383 | -11.0% |
| Total equity and liabilities | 10/49 | €639,015 | €669,025 | +€30,010 | +4.7% |
| Equity | 10/15 | €256,697 | €346,393 | +€89,696 | +34.9% |
| Contributions | 10/11 | €12,400 | €18,600 | +€6,200 | +50.0% |
| Reserves | 13 | €244,297 | €327,793 | +€83,496 | +34.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €244,297 | €327,793 | +€83,496 | +34.2% |
| Amounts payable | 17/49 | €382,318 | €322,632 | -€59,686 | -15.6% |
| Amounts payable after more than one year | 17 | €219,815 | €169,182 | -€50,634 | -23.0% |
| Financial debts | 170/4 | €219,815 | €169,182 | -€50,634 | -23.0% |
| Amounts payable within one year | 42/48 | €161,623 | €153,450 | -€8,173 | -5.1% |
| Current portion of amounts payable after more than one year | 42 | €57,357 | €50,634 | -€6,724 | -11.7% |
| Trade debts | 44 | €13,014 | €16,398 | +€3,384 | +26.0% |
| Suppliers | 440/4 | €13,014 | €16,398 | +€3,384 | +26.0% |
| Taxes, remuneration and social security | 45 | €30,445 | €24,965 | -€5,480 | -18.0% |
| Taxes | 450/3 | €30,445 | €24,965 | -€5,480 | -18.0% |
| Other amounts payable | 47/48 | €60,808 | €61,454 | +€646 | +1.1% |
| Accrued charges and deferred income | 492/3 | €879 | €0 | -€879 | -100% |
| Non-recurring operating income | 76A | €14,992 | €0 | -€14,992 | -100% |
| Remuneration, social security and pensions | 62 | €13,295 | €10,576 | -€2,719 | -20.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,325 | €63,395 | +€1,070 | +1.7% |
| Other operating charges | 640/8 | €4,958 | €9,649 | +€4,690 | +94.6% |
| Gross operating margin | 9900 | €208,466 | €253,943 | +€45,478 | +21.8% |
| Operating profit (loss) | 9901 | €127,887 | €170,323 | +€42,436 | +33.2% |
| Financial charges | 65/66B | €46,006 | €56,423 | +€10,417 | +22.6% |
| Recurring financial charges | 65 | €46,006 | €56,423 | +€10,417 | +22.6% |
| Profit (loss) for the period before taxes | 9903 | €81,882 | €113,900 | +€32,019 | +39.1% |
| Income taxes | 67/77 | €24,010 | €30,405 | +€6,395 | +26.6% |
| Profit (loss) for the period | 9904 | €57,872 | €83,496 | +€25,624 | +44.3% |
| Profit (loss) for the period to be appropriated | 9905 | €57,872 | €83,496 | +€25,624 | +44.3% |
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.