MK & M: 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 & M
Largest movements
- Receivables within one year -€127,363
down €127,363 (-89.5%), from €142,241 to €14,878
of which Trade receivables: -€128,622
- Cash +€71,036
up €71,036 (+64.3%), from €110,480 to €181,516
mainly Receivables within one year (+€127,363) and Net result for the year (+€36,444)
- Tangible fixed assets -€5,957
down €5,957 (-49.0%), from €12,151 to €6,194
of which Furniture and vehicles: -€4,091
- Trade debts -€94,681
down €94,681 (-91.9%), from €103,045 to €8,365
- Profit (loss) carried forward +€36,444
up €36,444 (+28.2%), from €129,363 to €165,807
- Tax, wage and social debts -€3,243
down €3,243 (-26.7%), from €12,160 to €8,916
of which Remuneration and social security: -€3,899
- Gross operating margin -€70,031
down €70,031 (-29.3%), from €238,608 to €168,577
- Staff costs -€13,084
down €13,084 (-9.5%), from €138,101 to €125,017
- Taxes -€9,902
no longer reported in 2025 (was €9,902)
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 | €264,872 | €202,588 | -€62,284 | -23.5% |
| Fixed assets | 21/28 | €12,151 | €6,194 | -€5,957 | -49.0% |
| Tangible fixed assets | 22/27 | €12,151 | €6,194 | -€5,957 | -49.0% |
| Plant, machinery and equipment | 23 | €3,647 | €1,780 | -€1,867 | -51.2% |
| Furniture and vehicles | 24 | €8,505 | €4,414 | -€4,091 | -48.1% |
| Current assets | 29/58 | €252,721 | €196,394 | -€56,327 | -22.3% |
| Amounts receivable within one year | 40/41 | €142,241 | €14,878 | -€127,363 | -89.5% |
| Trade receivables | 40 | €142,241 | €13,619 | -€128,622 | -90.4% |
| Other amounts receivable | 41 | - | €1,259 | +€1,259 | |
| Cash at bank and in hand | 54/58 | €110,480 | €181,516 | +€71,036 | +64.3% |
| Total equity and liabilities | 10/49 | €264,872 | €202,588 | -€62,284 | -23.5% |
| Equity | 10/15 | €148,863 | €185,307 | +€36,444 | +24.5% |
| Contributions | 10/11 | €19,500 | €19,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €129,363 | €165,807 | +€36,444 | +28.2% |
| Amounts payable | 17/49 | €116,009 | €17,281 | -€98,728 | -85.1% |
| Amounts payable within one year | 42/48 | €116,009 | €17,281 | -€98,728 | -85.1% |
| Trade debts | 44 | €103,045 | €8,365 | -€94,681 | -91.9% |
| Suppliers | 440/4 | €103,045 | €8,365 | -€94,681 | -91.9% |
| Taxes, remuneration and social security | 45 | €12,160 | €8,916 | -€3,243 | -26.7% |
| Taxes | 450/3 | €2,759 | €3,415 | +€656 | +23.8% |
| Remuneration and social security | 454/9 | €9,400 | €5,501 | -€3,899 | -41.5% |
| Other amounts payable | 47/48 | €804 | - | -€804 | |
| Remuneration, social security and pensions | 62 | €138,101 | €125,017 | -€13,084 | -9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,515 | €5,957 | +€442 | +8.0% |
| Other operating charges | 640/8 | €1,593 | €1,056 | -€537 | -33.7% |
| Gross operating margin | 9900 | €238,608 | €168,577 | -€70,031 | -29.3% |
| Operating profit (loss) | 9901 | €93,399 | €36,547 | -€56,852 | -60.9% |
| Financial charges | 65/66B | €191 | €103 | -€88 | -45.8% |
| Recurring financial charges | 65 | €191 | €103 | -€88 | -45.8% |
| Profit (loss) for the period before taxes | 9903 | €93,208 | €36,444 | -€56,764 | -60.9% |
| Income taxes | 67/77 | €9,902 | - | -€9,902 | |
| Profit (loss) for the period | 9904 | €83,307 | €36,444 | -€46,863 | -56.3% |
| Profit (loss) for the period to be appropriated | 9905 | €83,307 | €36,444 | -€46,863 | -56.3% |
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 29 September 2026 via checked.be.