MCST BELGIUM: 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.
MCST BELGIUM
Largest movements
- Receivables within one year -€4,733
down €4,733 (-24.3%), from €19,440 to €14,707
of which Trade receivables: -€5,543
- Cash -€2,668
down €2,668 (-43.9%), from €6,070 to €3,403
mainly Trade debts (-€8,192) and Investment in fixed assets (net) (-€6,690)
- Tangible fixed assets +€1,422
up €1,422 (+1.4%), from €98,809 to €100,231
of which Land and buildings: +€6,422
- Other debts +€8,842
up €8,842 (+10.1%), from €87,230 to €96,072
- Trade debts -€8,192
down €8,192 (-91.2%), from €8,984 to €792
- Profit (loss) carried forward -€6,079
down €6,079, from €5,566 to -€512
- Gross operating margin -€7,677
down €7,677 (-83.0%), from €9,248 to €1,571
- Other operating charges +€1,430
up €1,430 (+96.7%), from €1,479 to €2,908
- Depreciation +€1,422
up €1,422 (+37.0%), from €3,845 to €5,268
- Financial income +€562
up €562 (+5,336%), from €11 to €572
- Taxes -€152
no longer reported in 2025 (was €152)
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 | €124,320 | €118,351 | -€5,968 | -4.8% |
| Fixed assets | 21/28 | €98,809 | €100,231 | +€1,422 | +1.4% |
| Tangible fixed assets | 22/27 | €98,809 | €100,231 | +€1,422 | +1.4% |
| Land and buildings | 22 | €93,809 | €100,231 | +€6,422 | +6.8% |
| Assets under construction and advance payments | 27 | €5,000 | - | -€5,000 | |
| Current assets | 29/58 | €25,510 | €18,120 | -€7,391 | -29.0% |
| Amounts receivable within one year | 40/41 | €19,440 | €14,707 | -€4,733 | -24.3% |
| Trade receivables | 40 | €10,065 | €4,521 | -€5,543 | -55.1% |
| Other amounts receivable | 41 | €9,375 | €10,185 | +€810 | +8.6% |
| Cash at bank and in hand | 54/58 | €6,070 | €3,403 | -€2,668 | -43.9% |
| Deferred charges and accrued income | 490/1 | - | €11 | +€11 | |
| Total equity and liabilities | 10/49 | €124,320 | €118,351 | -€5,968 | -4.8% |
| Equity | 10/15 | €27,566 | €21,488 | -€6,079 | -22.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Capital | 10 | €20,000 | €20,000 | = | 0.0% |
| Issued capital | 100 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Legal reserve | 130 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,566 | -€512 | -€6,079 | |
| Amounts payable | 17/49 | €96,753 | €96,864 | +€111 | +0.1% |
| Amounts payable within one year | 42/48 | €96,366 | €96,864 | +€498 | +0.5% |
| Trade debts | 44 | €8,984 | €792 | -€8,192 | -91.2% |
| Suppliers | 440/4 | €8,984 | €792 | -€8,192 | -91.2% |
| Taxes, remuneration and social security | 45 | €152 | - | -€152 | |
| Taxes | 450/3 | €152 | - | -€152 | |
| Other amounts payable | 47/48 | €87,230 | €96,072 | +€8,842 | +10.1% |
| Accrued charges and deferred income | 492/3 | €387 | - | -€387 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,845 | €5,268 | +€1,422 | +37.0% |
| Other operating charges | 640/8 | €1,479 | €2,908 | +€1,430 | +96.7% |
| Gross operating margin | 9900 | €9,248 | €1,571 | -€7,677 | -83.0% |
| Operating profit (loss) | 9901 | €3,924 | -€6,605 | -€10,529 | |
| Financial income | 75/76B | €11 | €572 | +€562 | +5,336% |
| Recurring financial income | 75 | €11 | €572 | +€562 | +5,336% |
| Financial charges | 65/66B | €42 | €46 | +€4 | +10.2% |
| Recurring financial charges | 65 | €42 | €46 | +€4 | +10.2% |
| Profit (loss) for the period before taxes | 9903 | €3,892 | -€6,079 | -€9,971 | |
| Income taxes | 67/77 | €152 | - | -€152 | |
| Profit (loss) for the period | 9904 | €3,740 | -€6,079 | -€9,819 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,740 | -€6,079 | -€9,819 |
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 19 October 2026 via checked.be.