MKKM: 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.
MKKM
Largest movements
- Receivables within one year +€597,527
up €597,527 (+412%), from €145,071 to €742,598
of which Other amounts receivable: +€411,867
- Cash -€489,540
down €489,540 (-97.4%), from €502,696 to €13,156
mainly Receivables within one year (-€597,527) and Net result for the year (-€43,308)
- Deferred charges and accrued income -€15,897
down €15,897 (-28.2%), from €56,459 to €40,562
- Intangible fixed assets +€11,738
up €11,738 (+565%), from €2,079 to €13,817
- Short-term financial debts +€73,071
up €73,071 (+211%), from €34,711 to €107,782
of which Credit institutions: +€66,864
- Profit (loss) carried forward -€43,308
down €43,308 (-15.0%), from €289,450 to €246,142
- Tax, wage and social debts +€32,357
up €32,357 (+42.2%), from €76,591 to €108,948
of which Remuneration and social security: +€21,244
- Trade debts +€19,997
up €19,997 (+11.2%), from €178,516 to €198,513
- Other debts +€18,116
up €18,116 (+89.3%), from €20,279 to €38,395
- Gross operating margin -€116,985
down €116,985 (-28.9%), from €405,113 to €288,128
- Taxes -€33,082
down €33,082 (-97.7%), from €33,860 to €778
- Financial income -€9,308
down €9,308 (-43.7%), from €21,297 to €11,989
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 | €707,151 | €810,706 | +€103,555 | +14.6% |
| Fixed assets | 21/28 | €2,925 | €14,390 | +€11,465 | +392% |
| Intangible fixed assets | 21 | €2,079 | €13,817 | +€11,738 | +565% |
| Tangible fixed assets | 22/27 | €273 | - | -€273 | |
| Plant, machinery and equipment | 23 | €273 | - | -€273 | |
| Financial fixed assets | 28 | €573 | €573 | = | 0.0% |
| Current assets | 29/58 | €704,226 | €796,316 | +€92,090 | +13.1% |
| Amounts receivable within one year | 40/41 | €145,071 | €742,598 | +€597,527 | +412% |
| Trade receivables | 40 | €109,299 | €294,959 | +€185,660 | +170% |
| Other amounts receivable | 41 | €35,772 | €447,639 | +€411,867 | +1,151% |
| Cash at bank and in hand | 54/58 | €502,696 | €13,156 | -€489,540 | -97.4% |
| Deferred charges and accrued income | 490/1 | €56,459 | €40,562 | -€15,897 | -28.2% |
| Total equity and liabilities | 10/49 | €707,151 | €810,706 | +€103,555 | +14.6% |
| Equity | 10/15 | €354,917 | €311,609 | -€43,308 | -12.2% |
| Contributions | 10/11 | €53,606 | €53,606 | = | 0.0% |
| Reserves | 13 | €11,861 | €11,861 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,861 | €1,861 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,861 | €1,861 | = | 0.0% |
| Distributable reserves | 133 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €289,450 | €246,142 | -€43,308 | -15.0% |
| Amounts payable | 17/49 | €352,234 | €499,097 | +€146,863 | +41.7% |
| Amounts payable within one year | 42/48 | €310,097 | €453,638 | +€143,541 | +46.3% |
| Financial debts | 43 | €34,711 | €107,782 | +€73,071 | +211% |
| Credit institutions | 430/8 | €34,711 | €101,575 | +€66,864 | +193% |
| Other loans | 439 | - | €6,207 | +€6,207 | |
| Trade debts | 44 | €178,516 | €198,513 | +€19,997 | +11.2% |
| Suppliers | 440/4 | €178,516 | €198,513 | +€19,997 | +11.2% |
| Taxes, remuneration and social security | 45 | €76,591 | €108,948 | +€32,357 | +42.2% |
| Taxes | 450/3 | €48,468 | €59,581 | +€11,113 | +22.9% |
| Remuneration and social security | 454/9 | €28,123 | €49,367 | +€21,244 | +75.5% |
| Other amounts payable | 47/48 | €20,279 | €38,395 | +€18,116 | +89.3% |
| Accrued charges and deferred income | 492/3 | €42,137 | €45,459 | +€3,322 | +7.9% |
| Non-recurring operating income | 76A | €770 | - | -€770 | |
| Remuneration, social security and pensions | 62 | €331,547 | €331,683 | +€136 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,202 | €2,747 | -€1,455 | -34.6% |
| Other operating charges | 640/8 | €1,140 | €1,016 | -€124 | -10.9% |
| Gross operating margin | 9900 | €405,113 | €288,128 | -€116,985 | -28.9% |
| Operating profit (loss) | 9901 | €68,224 | -€47,318 | -€115,542 | |
| Financial income | 75/76B | €21,297 | €11,989 | -€9,308 | -43.7% |
| Recurring financial income | 75 | €21,297 | €11,989 | -€9,308 | -43.7% |
| Financial charges | 65/66B | €7,701 | €7,201 | -€500 | -6.5% |
| Recurring financial charges | 65 | €7,701 | €7,201 | -€500 | -6.5% |
| Profit (loss) for the period before taxes | 9903 | €81,820 | -€42,530 | -€124,350 | |
| Income taxes | 67/77 | €33,860 | €778 | -€33,082 | -97.7% |
| Profit (loss) for the period | 9904 | €47,960 | -€43,308 | -€91,268 | |
| Profit (loss) for the period to be appropriated | 9905 | €47,960 | -€43,308 | -€91,268 |
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 13 October 2026 via checked.be.