MK 29/4: 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 29/4
Largest movements
- Tangible fixed assets +€400,137
up €400,137 (+58.9%), from €679,428 to €1.1m
of which Land and buildings: +€400,137
- Cash +€324,602
up €324,602 (+3040.6%), from €10,676 to €335,278
mainly Current portion of long-term debt (+€500,000) and Trade debts (+€151,168)
- Receivables within one year -€67,365
down €67,365 (-94.6%), from €71,225 to €3,860
of which Trade receivables: -€66,884
- Current portion of long-term debt +€500,000
new in 2025: €500,000
- Trade debts +€151,168
up €151,168 (+167.9%), from €90,046 to €241,214
- Other debts +€60,000
up €60,000 (+8.4%), from €717,000 to €777,000
- Profit (loss) carried forward -€54,163
down €54,163 (-113.0%), from -€47,928 to -€102,091
- Depreciation +€4,666
up €4,666 (+70.3%), from €6,635 to €11,301
- Other operating charges +€4,081
up €4,081 (+1797.8%), from €227 to €4,308
- Gross operating margin +€2,511
up €2,511 (+6.1%), from -€41,038 to -€38,527
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 | €763,829 | €1,421,218 | +€657,389 | +86.1% |
| Fixed assets | 21/28 | €681,928 | €1,082,065 | +€400,137 | +58.7% |
| Intangible fixed assets | 21 | €2,500 | €2,500 | = | 0.0% |
| Tangible fixed assets | 22/27 | €679,428 | €1,079,565 | +€400,137 | +58.9% |
| Land and buildings | 22 | €670,503 | €1,070,640 | +€400,137 | +59.7% |
| Plant, machinery and equipment | 23 | €8,925 | €8,925 | = | 0.0% |
| Current assets | 29/58 | €81,901 | €339,153 | +€257,252 | +314.1% |
| Amounts receivable within one year | 40/41 | €71,225 | €3,860 | -€67,365 | -94.6% |
| Trade receivables | 40 | €67,255 | €371 | -€66,884 | -99.4% |
| Other amounts receivable | 41 | €3,970 | €3,489 | -€481 | -12.1% |
| Cash at bank and in hand | 54/58 | €10,676 | €335,278 | +€324,602 | +3040.6% |
| Deferred charges and accrued income | 490/1 | - | €15 | +€15 | |
| Total equity and liabilities | 10/49 | €763,829 | €1,421,218 | +€657,389 | +86.1% |
| Equity | 10/15 | -€44,928 | -€99,091 | -€54,163 | -120.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€47,928 | -€102,091 | -€54,163 | -113.0% |
| Amounts payable | 17/49 | €808,757 | €1,520,310 | +€711,552 | +88.0% |
| Amounts payable within one year | 42/48 | €807,046 | €1,518,214 | +€711,168 | +88.1% |
| Current portion of amounts payable after more than one year | 42 | - | €500,000 | +€500,000 | |
| Trade debts | 44 | €90,046 | €241,214 | +€151,168 | +167.9% |
| Suppliers | 440/4 | €90,046 | €241,214 | +€151,168 | +167.9% |
| Other amounts payable | 47/48 | €717,000 | €777,000 | +€60,000 | +8.4% |
| Accrued charges and deferred income | 492/3 | €1,711 | €2,095 | +€384 | +22.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,635 | €11,301 | +€4,666 | +70.3% |
| Other operating charges | 640/8 | €227 | €4,308 | +€4,081 | +1797.8% |
| Gross operating margin | 9900 | -€41,038 | -€38,527 | +€2,511 | +6.1% |
| Operating profit (loss) | 9901 | -€47,900 | -€54,136 | -€6,236 | -13.0% |
| Financial charges | 65/66B | €28 | €27 | -€1 | -3.6% |
| Recurring financial charges | 65 | €28 | €27 | -€1 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | -€47,928 | -€54,163 | -€6,235 | -13.0% |
| Profit (loss) for the period | 9904 | -€47,928 | -€54,163 | -€6,235 | -13.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€47,928 | -€54,163 | -€6,235 | -13.0% |
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 7 October 2026 via checked.be.