MK ADVISORY: 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 ADVISORY
Largest movements
- Cash +€142,956
up €142,956 (+71.3%), from €200,529 to €343,485
mainly Net result for the year (+€178,234) and Tax, wage and social debts (+€15,826)
- Receivables after one year +€51,841
new in 2025: €51,841
- Profit (loss) carried forward +€178,234
up €178,234 (+80.8%), from €220,634 to €398,868
- Tax, wage and social debts +€15,826
up €15,826 (+29.9%), from €52,929 to €68,755
of which Taxes: +€14,385
- Gross operating margin +€49,923
up €49,923 (+27.6%), from €181,113 to €231,036
- Taxes +€12,656
up €12,656 (+30.7%), from €41,196 to €53,852
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 | €279,286 | €472,632 | +€193,346 | +69.2% |
| Fixed assets | 21/28 | €2,172 | €1,036 | -€1,136 | -52.3% |
| Tangible fixed assets | 22/27 | €2,172 | €1,036 | -€1,136 | -52.3% |
| Furniture and vehicles | 24 | €2,172 | €1,036 | -€1,136 | -52.3% |
| Current assets | 29/58 | €277,114 | €471,596 | +€194,482 | +70.2% |
| Amounts receivable after more than one year | 29 | - | €51,841 | +€51,841 | |
| Other amounts receivable | 291 | - | €51,841 | +€51,841 | |
| Amounts receivable within one year | 40/41 | €76,045 | €76,003 | -€41 | -0.1% |
| Trade receivables | 40 | €66,903 | €66,120 | -€783 | -1.2% |
| Other amounts receivable | 41 | €9,142 | €9,883 | +€742 | +8.1% |
| Cash at bank and in hand | 54/58 | €200,529 | €343,485 | +€142,956 | +71.3% |
| Deferred charges and accrued income | 490/1 | €541 | €267 | -€273 | -50.6% |
| Total equity and liabilities | 10/49 | €279,286 | €472,632 | +€193,346 | +69.2% |
| Equity | 10/15 | €224,634 | €402,868 | +€178,234 | +79.3% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €220,634 | €398,868 | +€178,234 | +80.8% |
| Amounts payable | 17/49 | €54,652 | €69,764 | +€15,112 | +27.7% |
| Amounts payable within one year | 42/48 | €53,489 | €69,764 | +€16,275 | +30.4% |
| Trade debts | 44 | €560 | €1,009 | +€449 | +80.2% |
| Suppliers | 440/4 | €560 | €1,009 | +€449 | +80.2% |
| Taxes, remuneration and social security | 45 | €52,929 | €68,755 | +€15,826 | +29.9% |
| Taxes | 450/3 | €52,929 | €67,313 | +€14,385 | +27.2% |
| Remuneration and social security | 454/9 | - | €1,441 | +€1,441 | |
| Accrued charges and deferred income | 492/3 | €1,163 | - | -€1,163 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,136 | €1,136 | = | 0.0% |
| Gross operating margin | 9900 | €181,113 | €231,036 | +€49,923 | +27.6% |
| Operating profit (loss) | 9901 | €179,977 | €229,900 | +€49,923 | +27.7% |
| Financial income | 75/76B | €1,163 | €2,358 | +€1,195 | +102.7% |
| Recurring financial income | 75 | €1,163 | €2,358 | +€1,195 | +102.7% |
| Financial charges | 65/66B | €119 | €173 | +€54 | +45.0% |
| Recurring financial charges | 65 | €119 | €173 | +€54 | +45.0% |
| Profit (loss) for the period before taxes | 9903 | €181,022 | €232,086 | +€51,064 | +28.2% |
| Income taxes | 67/77 | €41,196 | €53,852 | +€12,656 | +30.7% |
| Profit (loss) for the period | 9904 | €139,826 | €178,234 | +€38,408 | +27.5% |
| Profit (loss) for the period to be appropriated | 9905 | €139,826 | €178,234 | +€38,408 | +27.5% |
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.