MK: 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.
MK
Largest movements
- Tangible fixed assets -€5,045
down €5,045 (-16.1%), from €31,361 to €26,316
of which Land and buildings: -€4,390
- Receivables within one year +€3,473
up €3,473 (+31.1%), from €11,180 to €14,654
of which Trade receivables: +€2,022
- Deferred charges and accrued income +€1,852
up €1,852 (+5.5%), from €33,790 to €35,642
- Profit (loss) carried forward +€3,501
up €3,501 (+34.9%), from €10,039 to €13,540
- Tax, wage and social debts -€3,239
no longer reported in 2025 (was €3,239)
- Trade debts +€1,148
up €1,148 (+67.9%), from €1,690 to €2,838
- Other debts -€851
down €851 (-25.2%), from €3,380 to €2,528
- Gross operating margin -€7,505
down €7,505 (-36.5%), from €20,583 to €13,078
- Taxes -€3,482
down €3,482 (-94.1%), from €3,701 to €219
- Other operating charges -€579
down €579 (-12.4%), from €4,676 to €4,097
- Financial charges -€555
down €555 (-71.9%), from €773 to €217
- Depreciation +€330
up €330 (+7.0%), from €4,715 to €5,045
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 | €79,601 | €79,435 | -€166 | -0.2% |
| Fixed assets | 21/28 | €31,463 | €26,418 | -€5,045 | -16.0% |
| Tangible fixed assets | 22/27 | €31,361 | €26,316 | -€5,045 | -16.1% |
| Land and buildings | 22 | €29,622 | €25,232 | -€4,390 | -14.8% |
| Furniture and vehicles | 24 | €1,739 | €1,085 | -€654 | -37.6% |
| Financial fixed assets | 28 | €102 | €102 | = | 0.0% |
| Current assets | 29/58 | €48,138 | €53,017 | +€4,878 | +10.1% |
| Amounts receivable within one year | 40/41 | €11,180 | €14,654 | +€3,473 | +31.1% |
| Trade receivables | 40 | €1,010 | €3,032 | +€2,022 | +200.2% |
| Other amounts receivable | 41 | €10,170 | €11,622 | +€1,451 | +14.3% |
| Cash at bank and in hand | 54/58 | €3,168 | €2,721 | -€447 | -14.1% |
| Deferred charges and accrued income | 490/1 | €33,790 | €35,642 | +€1,852 | +5.5% |
| Total equity and liabilities | 10/49 | €79,601 | €79,435 | -€166 | -0.2% |
| Equity | 10/15 | €70,567 | €74,068 | +€3,501 | +5.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €41,936 | €41,936 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €40,077 | €40,077 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,039 | €13,540 | +€3,501 | +34.9% |
| Amounts payable | 17/49 | €9,034 | €5,367 | -€3,667 | -40.6% |
| Amounts payable within one year | 42/48 | €8,309 | €5,367 | -€2,942 | -35.4% |
| Trade debts | 44 | €1,690 | €2,838 | +€1,148 | +67.9% |
| Suppliers | 440/4 | €1,690 | €2,838 | +€1,148 | +67.9% |
| Taxes, remuneration and social security | 45 | €3,239 | - | -€3,239 | |
| Taxes | 450/3 | €3,239 | - | -€3,239 | |
| Other amounts payable | 47/48 | €3,380 | €2,528 | -€851 | -25.2% |
| Accrued charges and deferred income | 492/3 | €725 | - | -€725 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,715 | €5,045 | +€330 | +7.0% |
| Other operating charges | 640/8 | €4,676 | €4,097 | -€579 | -12.4% |
| Gross operating margin | 9900 | €20,583 | €13,078 | -€7,505 | -36.5% |
| Operating profit (loss) | 9901 | €11,192 | €3,936 | -€7,255 | -64.8% |
| Financial income | 75/76B | €4 | €0 | -€4 | -91.6% |
| Recurring financial income | 75 | €4 | €0 | -€4 | -91.6% |
| Non-recurring financial income | 76B | €4 | €0 | -€4 | -91.6% |
| Financial charges | 65/66B | €773 | €217 | -€555 | -71.9% |
| Recurring financial charges | 65 | €773 | €217 | -€555 | -71.9% |
| Profit (loss) for the period before taxes | 9903 | €10,423 | €3,719 | -€6,704 | -64.3% |
| Income taxes | 67/77 | €3,701 | €219 | -€3,482 | -94.1% |
| Profit (loss) for the period | 9904 | €6,723 | €3,501 | -€3,222 | -47.9% |
| Profit (loss) for the period to be appropriated | 9905 | €6,723 | €3,501 | -€3,222 | -47.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.