MCW MANAGEMENT: what changed
Two fiscal 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 MANAGEMENT
Largest movements
- Cash -€9,460
down €9,460 (-44.2%), from €21,424 to €11,964
mainly Debts after one year (-€32,465) and Contributions, distributions and other (-€27,719)
- Tangible fixed assets -€9,393
down €9,393 (-48.1%), from €19,530 to €10,137
of which Furniture and vehicles: -€8,633
- Receivables within one year +€6,171
up €6,171 (+7.1%), from €87,293 to €93,465
of which Other amounts receivable: +€13,992
- Profit (loss) carried forward +€33,637
up €33,637 (+26.5%), from €126,954 to €160,591
- Debts after one year -€32,465
down €32,465 (-30.1%), from €107,966 to €75,501
- Other debts +€29,957
up €29,957, from €0 to €29,957
- Reserves -€27,719
down €27,719 (-100.0%), from €27,719 to €0
- Tax, wage and social debts -€8,271
down €8,271 (-20.7%), from €39,959 to €31,688
- Gross operating margin -€22,877
down €22,877 (-26.1%), from €87,519 to €64,642
- Taxes -€4,516
down €4,516 (-22.9%), from €19,756 to €15,241
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 | €356,083 | €343,362 | -€12,721 | -3.6% |
| Fixed assets | 21/28 | €247,326 | €237,933 | -€9,393 | -3.8% |
| Tangible fixed assets | 22/27 | €19,530 | €10,137 | -€9,393 | -48.1% |
| Land and buildings | 22 | €5,980 | €5,220 | -€760 | -12.7% |
| Furniture and vehicles | 24 | €13,550 | €4,917 | -€8,633 | -63.7% |
| Financial fixed assets | 28 | €227,796 | €227,796 | = | 0.0% |
| Current assets | 29/58 | €108,757 | €105,429 | -€3,328 | -3.1% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €87,293 | €93,465 | +€6,171 | +7.1% |
| Trade receivables | 40 | €80,128 | €72,308 | -€7,820 | -9.8% |
| Other amounts receivable | 41 | €7,165 | €21,157 | +€13,992 | +195.3% |
| Cash at bank and in hand | 54/58 | €21,424 | €11,964 | -€9,460 | -44.2% |
| Deferred charges and accrued income | 490/1 | €40 | €0 | -€39 | -98.9% |
| Total equity and liabilities | 10/49 | €356,083 | €343,362 | -€12,721 | -3.6% |
| Equity | 10/15 | €159,673 | €165,591 | +€5,918 | +3.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €27,719 | €0 | -€27,719 | -100.0% |
| Non-distributable reserves | 130/1 | €27,719 | €0 | -€27,719 | -100.0% |
| Reserves not available under the articles | 1311 | €27,719 | €0 | -€27,719 | -100.0% |
| Profit (loss) carried forward | 14 | €126,954 | €160,591 | +€33,637 | +26.5% |
| Amounts payable | 17/49 | €196,410 | €177,770 | -€18,639 | -9.5% |
| Amounts payable after more than one year | 17 | €107,966 | €75,501 | -€32,465 | -30.1% |
| Financial debts | 170/4 | €107,966 | €75,501 | -€32,465 | -30.1% |
| Amounts payable within one year | 42/48 | €80,712 | €94,589 | +€13,877 | +17.2% |
| Current portion of amounts payable after more than one year | 42 | €40,664 | €32,465 | -€8,198 | -20.2% |
| Trade debts | 44 | €89 | €479 | +€389 | +435.1% |
| Suppliers | 440/4 | €89 | €479 | +€389 | +435.1% |
| Taxes, remuneration and social security | 45 | €39,959 | €31,688 | -€8,271 | -20.7% |
| Taxes | 450/3 | €39,959 | €31,688 | -€8,271 | -20.7% |
| Other amounts payable | 47/48 | €0 | €29,957 | +€29,957 | |
| Accrued charges and deferred income | 492/3 | €7,731 | €7,680 | -€51 | -0.7% |
| Turnover | 70 | €0 | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,164 | €13,869 | +€705 | +5.4% |
| Other operating charges | 640/8 | €899 | €916 | +€17 | +1.9% |
| Gross operating margin | 9900 | €87,519 | €64,642 | -€22,877 | -26.1% |
| Operating profit (loss) | 9901 | €73,456 | €49,857 | -€23,599 | -32.1% |
| Financial income | 75/76B | €151 | €767 | +€617 | +409.7% |
| Recurring financial income | 75 | €151 | €767 | +€617 | +409.7% |
| Financial charges | 65/66B | €2,358 | €1,746 | -€611 | -25.9% |
| Recurring financial charges | 65 | €2,358 | €1,746 | -€611 | -25.9% |
| Profit (loss) for the period before taxes | 9903 | €71,249 | €48,878 | -€22,371 | -31.4% |
| Income taxes | 67/77 | €19,756 | €15,241 | -€4,516 | -22.9% |
| Profit (loss) for the period | 9904 | €51,493 | €33,637 | -€17,856 | -34.7% |
| Profit (loss) for the period to be appropriated | 9905 | €51,493 | €33,637 | -€17,856 | -34.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.