MCW COLLECTION: 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.
MCW COLLECTION
Largest movements
- Receivables within one year -€73,330
down €73,330 (-68.1%), from €107,706 to €34,376
of which Trade receivables: -€47,330
- Stocks and contracts -€61,218
down €61,218 (-6.7%), from €908,255 to €847,037
- Intangible fixed assets -€16,502
down €16,502 (-12.3%), from €134,475 to €117,973
- Trade debts -€127,299
no longer reported in 2025 (was €127,299)
of which Suppliers: -€72,941
- Other debts +€49,955
up €49,955 (+7.5%), from €668,541 to €718,496
- Tax, wage and social debts -€33,940
down €33,940 (-69.7%), from €48,667 to €14,727
of which Taxes: -€30,710
- Debts after one year -€17,778
down €17,778 (-15.9%), from €111,697 to €93,919
- Profit (loss) carried forward -€17,566
down €17,566, from €4,168 to -€13,397
- Gross operating margin +€87,528
up €87,528 (+658%), from €13,307 to €100,835
- Financial charges -€16,377
down €16,377 (-38.0%), from €43,098 to €26,722
- Other operating charges -€2,304
down €2,304 (-68.8%), from €3,352 to €1,047
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 | €1,287,084 | €1,139,859 | -€147,225 | -11.4% |
| Fixed assets | 21/28 | €249,066 | €219,883 | -€29,183 | -11.7% |
| Intangible fixed assets | 21 | €134,475 | €117,973 | -€16,502 | -12.3% |
| Tangible fixed assets | 22/27 | €114,590 | €101,910 | -€12,681 | -11.1% |
| Furniture and vehicles | 24 | €2,980 | €4,476 | +€1,496 | +50.2% |
| Other tangible fixed assets | 26 | €111,610 | €97,433 | -€14,177 | -12.7% |
| Current assets | 29/58 | €1,038,018 | €919,976 | -€118,042 | -11.4% |
| Stocks and contracts in progress | 3 | €908,255 | €847,037 | -€61,218 | -6.7% |
| Stocks | 30/36 | €908,255 | €847,037 | -€61,218 | -6.7% |
| Amounts receivable within one year | 40/41 | €107,706 | €34,376 | -€73,330 | -68.1% |
| Trade receivables | 40 | €61,960 | €14,630 | -€47,330 | -76.4% |
| Other amounts receivable | 41 | €45,746 | €19,746 | -€26,000 | -56.8% |
| Cash at bank and in hand | 54/58 | €16,422 | €29,078 | +€12,656 | +77.1% |
| Deferred charges and accrued income | 490/1 | €5,635 | €9,485 | +€3,850 | +68.3% |
| Total equity and liabilities | 10/49 | €1,287,084 | €1,139,859 | -€147,225 | -11.4% |
| Equity | 10/15 | €309,168 | €291,603 | -€17,566 | -5.7% |
| Contributions | 10/11 | €305,000 | €305,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,168 | -€13,397 | -€17,566 | |
| Amounts payable | 17/49 | €977,915 | €848,256 | -€129,659 | -13.3% |
| Amounts payable after more than one year | 17 | €111,697 | €93,919 | -€17,778 | -15.9% |
| Financial debts | 170/4 | €111,697 | €93,919 | -€17,778 | -15.9% |
| Amounts payable within one year | 42/48 | €861,861 | €751,001 | -€110,860 | -12.9% |
| Current portion of amounts payable after more than one year | 42 | €17,355 | €17,778 | +€423 | +2.4% |
| Trade debts | 44 | €127,299 | - | -€127,299 | |
| Suppliers | 440/4 | €72,941 | - | -€72,941 | |
| Bills of exchange payable | 441 | €54,358 | - | -€54,358 | |
| Taxes, remuneration and social security | 45 | €48,667 | €14,727 | -€33,940 | -69.7% |
| Taxes | 450/3 | €36,022 | €5,312 | -€30,710 | -85.3% |
| Remuneration and social security | 454/9 | €12,645 | €9,415 | -€3,230 | -25.5% |
| Other amounts payable | 47/48 | €668,541 | €718,496 | +€49,955 | +7.5% |
| Accrued charges and deferred income | 492/3 | €4,357 | €3,336 | -€1,021 | -23.4% |
| Remuneration, social security and pensions | 62 | €49,319 | €50,282 | +€963 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,428 | €39,886 | +€458 | +1.2% |
| Other operating charges | 640/8 | €3,352 | €1,047 | -€2,304 | -68.8% |
| Non-recurring operating charges | 66A | €295 | €797 | +€502 | +170% |
| Gross operating margin | 9900 | €13,307 | €100,835 | +€87,528 | +658% |
| Operating profit (loss) | 9901 | -€79,086 | €8,823 | +€87,910 | |
| Financial income | 75/76B | €181 | €333 | +€152 | +84.0% |
| Recurring financial income | 75 | €181 | €333 | +€152 | +84.0% |
| Financial charges | 65/66B | €43,098 | €26,722 | -€16,377 | -38.0% |
| Recurring financial charges | 65 | €43,098 | €26,722 | -€16,377 | -38.0% |
| Profit (loss) for the period before taxes | 9903 | -€122,004 | -€17,566 | +€104,438 | +85.6% |
| Profit (loss) for the period | 9904 | -€122,004 | -€17,566 | +€104,438 | +85.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€122,004 | -€17,566 | +€104,438 | +85.6% |
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 17 October 2026 via checked.be.