MK MANAGEMENT: 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 MANAGEMENT
Largest movements
- Tangible fixed assets +€3.9m
up €3.9m (+49.3%), from €8.0m to €11.9m
of which Land and buildings: +€3.9m
- Receivables after one year +€3.2m
up €3.2m (+46.4%), from €6.9m to €10.1m
of which Other amounts receivable: +€3.0m
- Cash +€561,618
up €561,618 (+675.5%), from €83,136 to €644,754
mainly Debts after one year (+€6.2m) and Current portion of long-term debt (+€1.8m)
- Receivables within one year +€328,934
up €328,934 (+102.8%), from €319,893 to €648,827
of which Other amounts receivable: +€213,014
- Debts after one year +€6.2m
up €6.2m (+93.5%), from €6.6m to €12.7m
- Current portion of long-term debt +€1.8m
up €1.8m (+434.5%), from €414,258 to €2.2m
- Short-term financial debts +€350,000
up €350,000 (+100.0%), from €350,000 to €700,000
- Depreciation +€484,554
up €484,554 (+71.2%), from €680,401 to €1.2m
- Gross operating margin -€247,664
down €247,664 (-14.4%), from €1.7m to €1.5m
- Taxes -€239,616
down €239,616 (-83.4%), from €287,396 to €47,779
- Financial charges +€210,824
up €210,824 (+86.0%), from €245,029 to €455,853
- Other operating charges -€131,985
down €131,985 (-79.3%), from €166,335 to €34,351
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 | €15,331,212 | €23,436,260 | +€8.1m | +52.9% |
| Fixed assets | 21/28 | €8,004,156 | €12,049,373 | +€4.0m | +50.5% |
| Tangible fixed assets | 22/27 | €7,999,106 | €11,944,323 | +€3.9m | +49.3% |
| Land and buildings | 22 | €7,799,328 | €11,696,884 | +€3.9m | +50.0% |
| Furniture and vehicles | 24 | €107,411 | €155,073 | +€47,662 | +44.4% |
| Other tangible fixed assets | 26 | €92,366 | €92,366 | = | 0.0% |
| Financial fixed assets | 28 | €5,050 | €105,050 | +€100,000 | +1980.2% |
| Current assets | 29/58 | €7,327,056 | €11,386,887 | +€4.1m | +55.4% |
| Amounts receivable after more than one year | 29 | €6,885,169 | €10,079,041 | +€3.2m | +46.4% |
| Trade receivables | 290 | - | €180,000 | +€180,000 | |
| Other amounts receivable | 291 | €6,885,169 | €9,899,041 | +€3.0m | +43.8% |
| Amounts receivable within one year | 40/41 | €319,893 | €648,827 | +€328,934 | +102.8% |
| Trade receivables | 40 | €237,434 | €353,353 | +€115,919 | +48.8% |
| Other amounts receivable | 41 | €82,459 | €295,474 | +€213,014 | +258.3% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €83,136 | €644,754 | +€561,618 | +675.5% |
| Deferred charges and accrued income | 490/1 | €38,859 | €14,266 | -€24,593 | -63.3% |
| Total equity and liabilities | 10/49 | €15,331,212 | €23,436,260 | +€8.1m | +52.9% |
| Equity | 10/15 | €6,553,523 | €6,564,657 | +€11,134 | +0.2% |
| Contributions | 10/11 | €74,400 | €74,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,477,263 | €6,488,397 | +€11,134 | +0.2% |
| Amounts payable | 17/49 | €8,777,689 | €16,871,603 | +€8.1m | +92.2% |
| Amounts payable after more than one year | 17 | €6,578,884 | €12,729,244 | +€6.2m | +93.5% |
| Financial debts | 170/4 | €6,578,884 | €12,729,244 | +€6.2m | +93.5% |
| Amounts payable within one year | 42/48 | €2,195,769 | €4,140,380 | +€1.9m | +88.6% |
| Current portion of amounts payable after more than one year | 42 | €414,258 | €2,214,113 | +€1.8m | +434.5% |
| Financial debts | 43 | €350,000 | €700,000 | +€350,000 | +100.0% |
| Credit institutions | 430/8 | €350,000 | €700,000 | +€350,000 | +100.0% |
| Trade debts | 44 | €19,849 | €68,362 | +€48,512 | +244.4% |
| Suppliers | 440/4 | €19,849 | €68,362 | +€48,512 | +244.4% |
| Taxes, remuneration and social security | 45 | €74,814 | €17,981 | -€56,834 | -76.0% |
| Taxes | 450/3 | €72,558 | €14,887 | -€57,672 | -79.5% |
| Remuneration and social security | 454/9 | €2,256 | €3,094 | +€838 | +37.1% |
| Other amounts payable | 47/48 | €1,336,847 | €1,139,925 | -€196,923 | -14.7% |
| Accrued charges and deferred income | 492/3 | €3,036 | €1,979 | -€1,057 | -34.8% |
| Non-recurring operating income | 76A | - | €21,000 | +€21,000 | |
| Remuneration, social security and pensions | 62 | €3,827 | €22,961 | +€19,134 | +500.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €680,401 | €1,164,954 | +€484,554 | +71.2% |
| Other operating charges | 640/8 | €166,335 | €34,351 | -€131,985 | -79.3% |
| Gross operating margin | 9900 | €1,720,326 | €1,472,662 | -€247,664 | -14.4% |
| Operating profit (loss) | 9901 | €869,763 | €250,397 | -€619,367 | -71.2% |
| Financial income | 75/76B | €203,454 | €264,370 | +€60,916 | +29.9% |
| Recurring financial income | 75 | €203,454 | €264,370 | +€60,916 | +29.9% |
| Financial charges | 65/66B | €245,029 | €455,853 | +€210,824 | +86.0% |
| Recurring financial charges | 65 | €245,029 | €455,853 | +€210,824 | +86.0% |
| Profit (loss) for the period before taxes | 9903 | €828,188 | €58,914 | -€769,275 | -92.9% |
| Income taxes | 67/77 | €287,396 | €47,779 | -€239,616 | -83.4% |
| Profit (loss) for the period | 9904 | €540,792 | €11,134 | -€529,658 | -97.9% |
| Profit (loss) for the period to be appropriated | 9905 | €540,792 | €11,134 | -€529,658 | -97.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.