MKL: 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.
MKL
Largest movements
- Tangible fixed assets +€20,825
up €20,825 (+338%), from €6,170 to €26,994
of which Furniture and vehicles: +€20,624
- Receivables within one year -€12,813
down €12,813 (-87.7%), from €14,606 to €1,793
of which Trade receivables: -€13,411
- Cash -€3,214
down €3,214 (-25.6%), from €12,578 to €9,364
mainly Investment in fixed assets (net) (-€23,887) and Other debts (-€11,346)
- Deferred charges and accrued income +€475
up €475 (+98.8%), from €481 to €956
- Debts after one year +€11,932
new in 2025: €11,932
- Other debts -€11,346
down €11,346 (-86.7%), from €13,094 to €1,748
- Current portion of long-term debt +€6,484
new in 2025: €6,484
- Tax, wage and social debts -€3,188
down €3,188 (-28.4%), from €11,211 to €8,023
- Reserves +€1,000
up €1,000 (+25.0%), from €4,000 to €5,000
- Gross operating margin -€5,690
down €5,690 (-30.6%), from €18,622 to €12,933
- Depreciation -€2,595
down €2,595 (-45.9%), from €5,658 to €3,062
- Taxes -€1,586
down €1,586 (-45.5%), from €3,488 to €1,902
- Other operating charges +€935
up €935 (+80.6%), from €1,159 to €2,094
- Financial charges +€342
up €342 (+292%), from €117 to €459
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 | €33,834 | €39,107 | +€5,273 | +15.6% |
| Fixed assets | 21/28 | €6,170 | €26,994 | +€20,825 | +338% |
| Tangible fixed assets | 22/27 | €6,170 | €26,994 | +€20,825 | +338% |
| Plant, machinery and equipment | 23 | €2,416 | €2,617 | +€201 | +8.3% |
| Furniture and vehicles | 24 | €3,754 | €24,378 | +€20,624 | +549% |
| Current assets | 29/58 | €27,665 | €12,113 | -€15,552 | -56.2% |
| Amounts receivable within one year | 40/41 | €14,606 | €1,793 | -€12,813 | -87.7% |
| Trade receivables | 40 | €14,409 | €998 | -€13,411 | -93.1% |
| Other amounts receivable | 41 | €197 | €796 | +€598 | +303% |
| Cash at bank and in hand | 54/58 | €12,578 | €9,364 | -€3,214 | -25.6% |
| Deferred charges and accrued income | 490/1 | €481 | €956 | +€475 | +98.8% |
| Total equity and liabilities | 10/49 | €33,834 | €39,107 | +€5,273 | +15.6% |
| Equity | 10/15 | €5,851 | €7,267 | +€1,416 | +24.2% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €4,000 | €5,000 | +€1,000 | +25.0% |
| Distributable reserves | 133 | €4,000 | €5,000 | +€1,000 | +25.0% |
| Profit (loss) carried forward | 14 | €351 | €767 | +€416 | +118% |
| Amounts payable | 17/49 | €27,983 | €31,840 | +€3,857 | +13.8% |
| Amounts payable after more than one year | 17 | - | €11,932 | +€11,932 | |
| Financial debts | 170/4 | - | €11,932 | +€11,932 | |
| Amounts payable within one year | 42/48 | €27,983 | €19,909 | -€8,074 | -28.9% |
| Current portion of amounts payable after more than one year | 42 | - | €6,484 | +€6,484 | |
| Trade debts | 44 | €3,678 | €3,654 | -€24 | -0.7% |
| Suppliers | 440/4 | €3,678 | €3,654 | -€24 | -0.7% |
| Taxes, remuneration and social security | 45 | €11,211 | €8,023 | -€3,188 | -28.4% |
| Taxes | 450/3 | €11,211 | €8,023 | -€3,188 | -28.4% |
| Other amounts payable | 47/48 | €13,094 | €1,748 | -€11,346 | -86.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,658 | €3,062 | -€2,595 | -45.9% |
| Other operating charges | 640/8 | €1,159 | €2,094 | +€935 | +80.6% |
| Gross operating margin | 9900 | €18,622 | €12,933 | -€5,690 | -30.6% |
| Operating profit (loss) | 9901 | €11,805 | €7,776 | -€4,029 | -34.1% |
| Financial charges | 65/66B | €117 | €459 | +€342 | +292% |
| Recurring financial charges | 65 | €117 | €459 | +€342 | +292% |
| Profit (loss) for the period before taxes | 9903 | €11,688 | €7,318 | -€4,371 | -37.4% |
| Income taxes | 67/77 | €3,488 | €1,902 | -€1,586 | -45.5% |
| Profit (loss) for the period | 9904 | €8,200 | €5,416 | -€2,784 | -34.0% |
| Profit (loss) for the period to be appropriated | 9905 | €8,200 | €5,416 | -€2,784 | -34.0% |
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.