MK 13: 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 13
Largest movements
- Stocks and contracts +€204,695
up €204,695 (+18.4%), from €1.1m to €1.3m
- Cash +€182,978
up €182,978 (+666.7%), from €27,446 to €210,424
mainly Tax, wage and social debts (+€202,696) and Other debts (+€127,879)
- Receivables within one year -€56,883
down €56,883 (-55.3%), from €102,833 to €45,950
- Tax, wage and social debts +€202,696
up €202,696 (+14296.5%), from €1,418 to €204,114
- Other debts +€127,879
up €127,879 (+23.5%), from €545,111 to €672,990
- Gross operating margin -€48,324
down €48,324 (-87.5%), from €55,243 to €6,919
- Staff costs -€18,090
no longer reported in 2025 (was €18,090)
- Taxes -€4,459
down €4,459 (-77.8%), from €5,730 to €1,271
- Depreciation +€2,491
up €2,491 (+55.3%), from €4,501 to €6,992
- Other operating charges -€1,097
down €1,097 (-19.9%), from €5,518 to €4,421
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 | €1,337,981 | €1,661,922 | +€323,942 | +24.2% |
| Fixed assets | 21/28 | €95,787 | €88,268 | -€7,519 | -7.8% |
| Tangible fixed assets | 22/27 | €20,787 | €13,268 | -€7,519 | -36.2% |
| Plant, machinery and equipment | 23 | €7,707 | €5,190 | -€2,517 | -32.7% |
| Furniture and vehicles | 24 | €13,080 | €8,077 | -€5,002 | -38.2% |
| Financial fixed assets | 28 | €75,000 | €75,000 | = | 0.0% |
| Current assets | 29/58 | €1,242,194 | €1,573,654 | +€331,460 | +26.7% |
| Stocks and contracts in progress | 3 | €1,109,557 | €1,314,253 | +€204,695 | +18.4% |
| Stocks | 30/36 | €1,109,557 | €1,314,253 | +€204,695 | +18.4% |
| Amounts receivable within one year | 40/41 | €102,833 | €45,950 | -€56,883 | -55.3% |
| Other amounts receivable | 41 | €102,833 | €45,950 | -€56,883 | -55.3% |
| Cash at bank and in hand | 54/58 | €27,446 | €210,424 | +€182,978 | +666.7% |
| Deferred charges and accrued income | 490/1 | €2,358 | €3,028 | +€670 | +28.4% |
| Total equity and liabilities | 10/49 | €1,337,981 | €1,661,922 | +€323,942 | +24.2% |
| Equity | 10/15 | €790,808 | €784,547 | -€6,261 | -0.8% |
| Contributions | 10/11 | €106,200 | €106,200 | = | 0.0% |
| Reserves | 13 | €10,620 | €10,620 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,620 | €10,620 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,620 | €10,620 | = | 0.0% |
| Profit (loss) carried forward | 14 | €673,988 | €667,727 | -€6,261 | -0.9% |
| Amounts payable | 17/49 | €547,172 | €877,375 | +€330,202 | +60.3% |
| Amounts payable within one year | 42/48 | €547,172 | €877,375 | +€330,202 | +60.3% |
| Trade debts | 44 | €644 | €271 | -€373 | -57.9% |
| Suppliers | 440/4 | €644 | €271 | -€373 | -57.9% |
| Taxes, remuneration and social security | 45 | €1,418 | €204,114 | +€202,696 | +14296.5% |
| Taxes | 450/3 | €1,418 | €204,114 | +€202,696 | +14296.5% |
| Other amounts payable | 47/48 | €545,111 | €672,990 | +€127,879 | +23.5% |
| Remuneration, social security and pensions | 62 | €18,090 | - | -€18,090 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,501 | €6,992 | +€2,491 | +55.3% |
| Other operating charges | 640/8 | €5,518 | €4,421 | -€1,097 | -19.9% |
| Non-recurring operating charges | 66A | - | €27 | +€27 | |
| Gross operating margin | 9900 | €55,243 | €6,919 | -€48,324 | -87.5% |
| Operating profit (loss) | 9901 | €27,134 | -€4,520 | -€31,654 | |
| Financial income | 75/76B | €1 | €2 | +€1 | +200.0% |
| Recurring financial income | 75 | €1 | €2 | +€1 | +200.0% |
| Financial charges | 65/66B | €726 | €472 | -€254 | -35.0% |
| Recurring financial charges | 65 | €726 | €472 | -€254 | -35.0% |
| Profit (loss) for the period before taxes | 9903 | €26,408 | -€4,990 | -€31,399 | |
| Income taxes | 67/77 | €5,730 | €1,271 | -€4,459 | -77.8% |
| Profit (loss) for the period | 9904 | €20,678 | -€6,261 | -€26,939 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,678 | -€6,261 | -€26,939 |
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 8 October 2026 via checked.be.