MK PNEUS ATH: what changed
MK PNEUS ATH
Largest movements
- Cash -€55,155
down €55,155 (-38.3%), from €144,124 to €88,969
mainly Debts after one year (-€84,329) and Investment in fixed assets (net) (-€32,084)
- Receivables within one year +€15,007
up €15,007 (+22.4%), from €67,038 to €82,045
of which Trade receivables: +€14,857
- Tangible fixed assets -€13,424
down €13,424 (-3.5%), from €382,644 to €369,220
of which Land and buildings: -€23,010
- Debts after one year -€84,329
down €84,329 (-26.8%), from €314,475 to €230,146
- Profit (loss) carried forward +€23,830
up €23,830 (+14.4%), from €165,126 to €188,956
- Tax, wage and social debts +€7,117
up €7,117 (+16.0%), from €44,401 to €51,518
of which Taxes: +€5,701
- Gross operating margin +€30,426
up €30,426 (+11.5%), from €265,328 to €295,753
- Staff costs +€15,293
up €15,293 (+8.3%), from €183,190 to €198,484
- Taxes +€5,922
up €5,922 (+189%), from €3,131 to €9,053
- Other operating charges -€5,400
down €5,400 (-24.3%), from €22,232 to €16,831
- Financial income +€4,227
up €4,227 (+248%), from €1,702 to €5,929
of which Non-recurring financial income: +€3,744
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €658,045 | €604,980 | -€53,064 | -8.1% |
| Fixed assets | 21/28 | €382,794 | €369,370 | -€13,424 | -3.5% |
| Tangible fixed assets | 22/27 | €382,644 | €369,220 | -€13,424 | -3.5% |
| Land and buildings | 22 | €327,535 | €304,525 | -€23,010 | -7.0% |
| Plant, machinery and equipment | 23 | €13,635 | €20,460 | +€6,826 | +50.1% |
| Furniture and vehicles | 24 | €41,474 | €44,235 | +€2,761 | +6.7% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €275,250 | €235,610 | -€39,640 | -14.4% |
| Stocks and contracts in progress | 3 | €64,088 | €64,596 | +€508 | +0.8% |
| Stocks | 30/36 | €64,088 | €64,596 | +€508 | +0.8% |
| Amounts receivable within one year | 40/41 | €67,038 | €82,045 | +€15,007 | +22.4% |
| Trade receivables | 40 | €64,332 | €79,189 | +€14,857 | +23.1% |
| Other amounts receivable | 41 | €2,706 | €2,856 | +€150 | +5.5% |
| Cash at bank and in hand | 54/58 | €144,124 | €88,969 | -€55,155 | -38.3% |
| Total equity and liabilities | 10/49 | €658,045 | €604,980 | -€53,064 | -8.1% |
| Equity | 10/15 | €185,586 | €209,416 | +€23,830 | +12.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €165,126 | €188,956 | +€23,830 | +14.4% |
| Amounts payable | 17/49 | €472,459 | €395,565 | -€76,894 | -16.3% |
| Amounts payable after more than one year | 17 | €314,475 | €230,146 | -€84,329 | -26.8% |
| Financial debts | 170/4 | €314,475 | €230,146 | -€84,329 | -26.8% |
| Amounts payable within one year | 42/48 | €157,983 | €165,419 | +€7,436 | +4.7% |
| Current portion of amounts payable after more than one year | 42 | €46,205 | €42,903 | -€3,302 | -7.1% |
| Trade debts | 44 | €67,027 | €70,979 | +€3,952 | +5.9% |
| Suppliers | 440/4 | €67,027 | €70,979 | +€3,952 | +5.9% |
| Advances received on contracts in progress | 46 | €350 | - | -€350 | |
| Taxes, remuneration and social security | 45 | €44,401 | €51,518 | +€7,117 | +16.0% |
| Taxes | 450/3 | €25,836 | €31,537 | +€5,701 | +22.1% |
| Remuneration and social security | 454/9 | €18,565 | €19,980 | +€1,415 | +7.6% |
| Other amounts payable | 47/48 | - | €19 | +€19 | |
| Non-recurring operating income | 76A | €5,788 | - | -€5,788 | |
| Remuneration, social security and pensions | 62 | €183,190 | €198,484 | +€15,293 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,270 | €45,508 | +€2,238 | +5.2% |
| Other operating charges | 640/8 | €22,232 | €16,831 | -€5,400 | -24.3% |
| Gross operating margin | 9900 | €265,328 | €295,753 | +€30,426 | +11.5% |
| Operating profit (loss) | 9901 | €16,635 | €34,930 | +€18,295 | +110% |
| Financial income | 75/76B | €1,702 | €5,929 | +€4,227 | +248% |
| Recurring financial income | 75 | €1,702 | €2,185 | +€484 | +28.4% |
| Non-recurring financial income | 76B | - | €3,744 | +€3,744 | |
| Financial charges | 65/66B | €8,704 | €7,977 | -€727 | -8.4% |
| Recurring financial charges | 65 | €8,704 | €7,977 | -€727 | -8.4% |
| Profit (loss) for the period before taxes | 9903 | €9,633 | €32,883 | +€23,250 | +241% |
| Income taxes | 67/77 | €3,131 | €9,053 | +€5,922 | +189% |
| Profit (loss) for the period | 9904 | €6,501 | €23,830 | +€17,328 | +267% |
| Profit (loss) for the period to be appropriated | 9905 | €6,501 | €23,830 | +€17,328 | +267% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.