MK-Infra: 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-Infra
Largest movements
- Cash +€273,901
up €273,901 (+1667.7%), from €16,424 to €290,326
mainly Net result for the year (+€129,028) and Receivables within one year (+€104,790)
- Receivables within one year -€104,790
down €104,790 (-71.5%), from €146,633 to €41,843
of which Trade receivables: -€139,800
- Tangible fixed assets +€75,531
up €75,531 (+10.8%), from €697,215 to €772,746
of which Land and buildings: +€335,766
- Reserves +€129,028
up €129,028 (+47.0%), from €274,597 to €403,625
- Trade debts +€93,933
up €93,933 (+2133.0%), from €4,404 to €98,337
- Tax, wage and social debts +€88,749
up €88,749 (+212.2%), from €41,822 to €130,571
of which Taxes: +€83,749
- Debts after one year -€80,342
down €80,342 (-19.7%), from €407,006 to €326,663
- Current portion of long-term debt +€17,369
up €17,369 (+14.7%), from €117,844 to €135,213
- Gross operating margin +€69,871
up €69,871 (+36.0%), from €194,326 to €264,197
- Depreciation -€63,731
down €63,731 (-69.6%), from €91,530 to €27,799
- Taxes +€27,790
up €27,790 (+106.1%), from €26,186 to €53,977
- Other operating charges -€12,168
down €12,168 (-65.4%), from €18,619 to €6,452
- Financial charges +€9,047
up €9,047 (+69.6%), from €12,993 to €22,041
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 | €870,643 | €1,106,937 | +€236,294 | +27.1% |
| Fixed assets | 21/28 | €697,215 | €772,746 | +€75,531 | +10.8% |
| Tangible fixed assets | 22/27 | €697,215 | €772,746 | +€75,531 | +10.8% |
| Land and buildings | 22 | €291,607 | €627,373 | +€335,766 | +115.1% |
| Plant, machinery and equipment | 23 | €7,154 | €6,327 | -€827 | -11.6% |
| Furniture and vehicles | 24 | €392,574 | €72,464 | -€320,110 | -81.5% |
| Leasing and similar rights | 25 | - | €63,742 | +€63,742 | |
| Other tangible fixed assets | 26 | €5,880 | €2,840 | -€3,040 | -51.7% |
| Current assets | 29/58 | €173,428 | €334,191 | +€160,763 | +92.7% |
| Amounts receivable within one year | 40/41 | €146,633 | €41,843 | -€104,790 | -71.5% |
| Trade receivables | 40 | €139,800 | €0 | -€139,800 | -100.0% |
| Other amounts receivable | 41 | €6,833 | €41,843 | +€35,010 | +512.4% |
| Cash at bank and in hand | 54/58 | €16,424 | €290,326 | +€273,901 | +1667.7% |
| Deferred charges and accrued income | 490/1 | €10,371 | €2,022 | -€8,349 | -80.5% |
| Total equity and liabilities | 10/49 | €870,643 | €1,106,937 | +€236,294 | +27.1% |
| Equity | 10/15 | €284,597 | €413,625 | +€129,028 | +45.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €274,597 | €403,625 | +€129,028 | +47.0% |
| Distributable reserves | 133 | €274,597 | €403,625 | +€129,028 | +47.0% |
| Amounts payable | 17/49 | €586,046 | €693,312 | +€107,266 | +18.3% |
| Amounts payable after more than one year | 17 | €407,006 | €326,663 | -€80,342 | -19.7% |
| Financial debts | 170/4 | €407,006 | €326,663 | -€80,342 | -19.7% |
| Amounts payable within one year | 42/48 | €177,363 | €366,649 | +€189,286 | +106.7% |
| Current portion of amounts payable after more than one year | 42 | €117,844 | €135,213 | +€17,369 | +14.7% |
| Financial debts | 43 | €5,079 | €2,528 | -€2,551 | -50.2% |
| Credit institutions | 430/8 | €5,079 | €2,528 | -€2,551 | -50.2% |
| Trade debts | 44 | €4,404 | €98,337 | +€93,933 | +2133.0% |
| Suppliers | 440/4 | €4,404 | €98,337 | +€93,933 | +2133.0% |
| Taxes, remuneration and social security | 45 | €41,822 | €130,571 | +€88,749 | +212.2% |
| Taxes | 450/3 | €41,822 | €125,571 | +€83,749 | +200.2% |
| Remuneration and social security | 454/9 | €0 | €5,000 | +€5,000 | |
| Other amounts payable | 47/48 | €8,214 | €0 | -€8,214 | -100.0% |
| Accrued charges and deferred income | 492/3 | €1,677 | €0 | -€1,677 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,530 | €27,799 | -€63,731 | -69.6% |
| Other operating charges | 640/8 | €18,619 | €6,452 | -€12,168 | -65.4% |
| Non-recurring operating charges | 66A | €12,037 | €25,964 | +€13,928 | +115.7% |
| Gross operating margin | 9900 | €194,326 | €264,197 | +€69,871 | +36.0% |
| Operating profit (loss) | 9901 | €72,140 | €203,982 | +€131,843 | +182.8% |
| Financial income | 75/76B | - | €1,063 | +€1,063 | |
| Recurring financial income | 75 | - | €1,063 | +€1,063 | |
| Financial charges | 65/66B | €12,993 | €22,041 | +€9,047 | +69.6% |
| Recurring financial charges | 65 | €12,993 | €22,041 | +€9,047 | +69.6% |
| Profit (loss) for the period before taxes | 9903 | €59,147 | €183,005 | +€123,858 | +209.4% |
| Income taxes | 67/77 | €26,186 | €53,977 | +€27,790 | +106.1% |
| Profit (loss) for the period | 9904 | €32,961 | €129,028 | +€96,067 | +291.5% |
| Profit (loss) for the period to be appropriated | 9905 | €32,961 | €129,028 | +€96,067 | +291.5% |
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 8 October 2026 via checked.be.