MK28: 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.
MK28
Largest movements
- Financial fixed assets +€50,000
new in 2025: €50,000
- Cash -€26,941
down €26,941 (-48.6%), from €55,488 to €28,547
mainly Investment in fixed assets (net) (-€49,907) and Receivables within one year (-€20,165)
- Receivables within one year +€20,165
up €20,165 (+296%), from €6,822 to €26,987
of which Trade receivables: +€23,298
- Other debts +€43,667
up €43,667 (+5,165%), from €845 to €44,513
- Tax, wage and social debts -€2,312
down €2,312 (-98.3%), from €2,352 to €40
- Reserves +€1,420
up €1,420 (+2.0%), from €71,860 to €73,280
of which Distributable reserves: +€1,420
- Gross operating margin +€27,551
up €27,551, from -€25,749 to €1,803
- Depreciation -€560
no longer reported in 2025 (was €560)
- Financial income +€376
up €376 (+125%), from €300 to €676
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.
Derived cash bridge
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 | €62,515 | €105,645 | +€43,130 | +69.0% |
| Fixed assets | 21/28 | €93 | €50,000 | +€49,907 | +53,502% |
| Tangible fixed assets | 22/27 | €93 | - | -€93 | |
| Plant, machinery and equipment | 23 | €93 | - | -€93 | |
| Financial fixed assets | 28 | - | €50,000 | +€50,000 | |
| Current assets | 29/58 | €62,422 | €55,645 | -€6,777 | -10.9% |
| Amounts receivable within one year | 40/41 | €6,822 | €26,987 | +€20,165 | +296% |
| Trade receivables | 40 | €3,482 | €26,780 | +€23,298 | +669% |
| Other amounts receivable | 41 | €3,340 | €207 | -€3,133 | -93.8% |
| Cash at bank and in hand | 54/58 | €55,488 | €28,547 | -€26,941 | -48.6% |
| Deferred charges and accrued income | 490/1 | €112 | €111 | -€1 | -1.1% |
| Total equity and liabilities | 10/49 | €62,515 | €105,645 | +€43,130 | +69.0% |
| Equity | 10/15 | €57,608 | €59,172 | +€1,565 | +2.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €71,860 | €73,280 | +€1,420 | +2.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €70,000 | €71,420 | +€1,420 | +2.0% |
| Profit (loss) carried forward | 14 | -€20,452 | -€20,308 | +€145 | +0.7% |
| Amounts payable | 17/49 | €4,908 | €46,473 | +€41,565 | +847% |
| Amounts payable within one year | 42/48 | €4,908 | €46,473 | +€41,565 | +847% |
| Trade debts | 44 | €1,710 | €1,920 | +€210 | +12.3% |
| Suppliers | 440/4 | €1,710 | €1,920 | +€210 | +12.3% |
| Taxes, remuneration and social security | 45 | €2,352 | €40 | -€2,312 | -98.3% |
| Taxes | 450/3 | €2,352 | €40 | -€2,312 | -98.3% |
| Other amounts payable | 47/48 | €845 | €44,513 | +€43,667 | +5,165% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €560 | - | -€560 | |
| Other operating charges | 640/8 | €676 | €643 | -€33 | -4.9% |
| Gross operating margin | 9900 | -€25,749 | €1,803 | +€27,551 | |
| Operating profit (loss) | 9901 | -€26,985 | €1,160 | +€28,144 | |
| Financial income | 75/76B | €300 | €676 | +€376 | +125% |
| Recurring financial income | 75 | €300 | €676 | +€376 | +125% |
| Financial charges | 65/66B | €26 | €129 | +€103 | +395% |
| Recurring financial charges | 65 | €26 | €129 | +€103 | +395% |
| Profit (loss) for the period before taxes | 9903 | -€26,710 | €1,707 | +€28,417 | |
| Income taxes | 67/77 | €191 | €142 | -€49 | -25.5% |
| Profit (loss) for the period | 9904 | -€26,901 | €1,565 | +€28,466 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,901 | €1,565 | +€28,466 |
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 17 October 2026 via checked.be.