MK RED: what changed
Two financial 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 RED
Largest movements
- Tangible fixed assets +€39,106
up €39,106 (+641.2%), from €6,099 to €45,205
of which Furniture and vehicles: +€38,307
- Receivables within one year +€27,263
up €27,263 (+45.9%), from €59,421 to €86,684
of which Trade receivables: +€15,502
- Cash +€12,291
up €12,291 (+23.1%), from €53,289 to €65,580
mainly Net result for the year (+€62,785) and Debts after one year (+€21,845)
- Reserves +€61,952
up €61,952 (+82.1%), from €75,426 to €137,378
- Debts after one year +€21,845
new in 2025: €21,845
- Tax, wage and social debts -€11,175
down €11,175 (-34.6%), from €32,326 to €21,151
- Current portion of long-term debt +€9,622
new in 2025: €9,622
- Contributions -€5,000
down €5,000 (-50.0%), from €10,000 to €5,000
- Gross operating margin +€27,315
up €27,315 (+37.8%), from €72,276 to €99,592
- Taxes +€6,932
up €6,932 (+33.6%), from €20,645 to €27,577
- Other operating charges +€4,856
up €4,856 (+1701.7%), from €285 to €5,142
- Depreciation +€3,752
up €3,752 (+230.3%), from €1,630 to €5,382
- Financial income +€2,477
up €2,477, from €0 to €2,477
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 | €118,809 | €197,469 | +€78,660 | +66.2% |
| Fixed assets | 21/28 | €6,099 | €45,205 | +€39,106 | +641.2% |
| Tangible fixed assets | 22/27 | €6,099 | €45,205 | +€39,106 | +641.2% |
| Plant, machinery and equipment | 23 | €4,154 | €4,954 | +€799 | +19.2% |
| Furniture and vehicles | 24 | €1,944 | €40,251 | +€38,307 | +1970.2% |
| Current assets | 29/58 | €112,710 | €152,264 | +€39,554 | +35.1% |
| Amounts receivable within one year | 40/41 | €59,421 | €86,684 | +€27,263 | +45.9% |
| Trade receivables | 40 | €18,150 | €33,652 | +€15,502 | +85.4% |
| Other amounts receivable | 41 | €41,271 | €53,032 | +€11,761 | +28.5% |
| Cash at bank and in hand | 54/58 | €53,289 | €65,580 | +€12,291 | +23.1% |
| Total equity and liabilities | 10/49 | €118,809 | €197,469 | +€78,660 | +66.2% |
| Equity | 10/15 | €85,426 | €142,378 | +€56,952 | +66.7% |
| Contributions | 10/11 | €10,000 | €5,000 | -€5,000 | -50.0% |
| Reserves | 13 | €75,426 | €137,378 | +€61,952 | +82.1% |
| Distributable reserves | 133 | €75,426 | €137,378 | +€61,952 | +82.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €33,383 | €55,091 | +€21,709 | +65.0% |
| Amounts payable after more than one year | 17 | - | €21,845 | +€21,845 | |
| Financial debts | 170/4 | - | €21,845 | +€21,845 | |
| Amounts payable within one year | 42/48 | €33,383 | €33,246 | -€137 | -0.4% |
| Current portion of amounts payable after more than one year | 42 | - | €9,622 | +€9,622 | |
| Trade debts | 44 | €1,057 | €1,640 | +€584 | +55.2% |
| Suppliers | 440/4 | €1,057 | €1,640 | +€584 | +55.2% |
| Taxes, remuneration and social security | 45 | €32,326 | €21,151 | -€11,175 | -34.6% |
| Taxes | 450/3 | €32,326 | €21,151 | -€11,175 | -34.6% |
| Other amounts payable | 47/48 | €0 | €833 | +€833 | |
| Remuneration, social security and pensions | 62 | €81 | €0 | -€81 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,630 | €5,382 | +€3,752 | +230.3% |
| Other operating charges | 640/8 | €285 | €5,142 | +€4,856 | +1701.7% |
| Gross operating margin | 9900 | €72,276 | €99,592 | +€27,315 | +37.8% |
| Operating profit (loss) | 9901 | €70,280 | €89,068 | +€18,788 | +26.7% |
| Financial income | 75/76B | €0 | €2,477 | +€2,477 | |
| Recurring financial income | 75 | €0 | €2,477 | +€2,477 | |
| Financial charges | 65/66B | €1,157 | €1,183 | +€26 | +2.3% |
| Recurring financial charges | 65 | €1,157 | €1,183 | +€26 | +2.3% |
| Profit (loss) for the period before taxes | 9903 | €69,123 | €90,362 | +€21,238 | +30.7% |
| Income taxes | 67/77 | €20,645 | €27,577 | +€6,932 | +33.6% |
| Profit (loss) for the period | 9904 | €48,478 | €62,785 | +€14,306 | +29.5% |
| Profit (loss) for the period to be appropriated | 9905 | €48,478 | €62,785 | +€14,306 | +29.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.