MKM: what changed
Two fiscal 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.
MKM
Largest movements
- Stocks and contracts -€564,005
down €564,005 (-65.0%), from €867,755 to €303,750
- Deferred charges and accrued income -€33,059
no longer reported in 2025 (was €33,059)
- Receivables within one year -€28,000
down €28,000 (-24.5%), from €114,314 to €86,314
of which Trade receivables: -€28,000
- Profit (loss) carried forward -€593,441
down €593,441 (-4.6%), from -€12.8m to -€13.4m
- Accrued charges and deferred income -€231,738
down €231,738 (-89.4%), from €259,088 to €27,350
- Debts after one year +€190,459
up €190,459 (+2.6%), from €7.3m to €7.5m
of which Other amounts payable: +€190,459
- Tax, wage and social debts +€55,879
up €55,879 (+1.4%), from €4.1m to €4.1m
of which Taxes: +€46,767
- Provisions -€23,000
down €23,000 (-47.9%), from €48,000 to €25,000
- Turnover -€6.4m
no longer reported in 2025 (was €6.4m)
- Purchases and services -€5.8m
no longer reported in 2025 (was €5.8m)
- Staff costs -€4.8m
down €4.8m (-96.2%), from €5.0m to €190,205
- Depreciation -€1.7m
down €1.7m (-100.0%), from €1.7m to €669
- Write-downs -€616,558
down €616,558 (-48.4%), from €1.3m to €657,206
From the 31-01-2025 result to the 07-03-2025 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 31-01-2025 | 07-03-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,132,440 | €501,011 | -€631,428 | -55.8% |
| Fixed assets | 21/28 | €12,865 | €8,222 | -€4,642 | -36.1% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €12,465 | €7,822 | -€4,642 | -37.2% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €8,130 | €7,822 | -€308 | -3.8% |
| Leasing and similar rights | 25 | €4,335 | - | -€4,335 | |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €1,119,575 | €492,789 | -€626,786 | -56.0% |
| Stocks and contracts in progress | 3 | €867,755 | €303,750 | -€564,005 | -65.0% |
| Stocks | 30/36 | €867,755 | €303,750 | -€564,005 | -65.0% |
| Amounts receivable within one year | 40/41 | €114,314 | €86,314 | -€28,000 | -24.5% |
| Trade receivables | 40 | €86,141 | €58,141 | -€28,000 | -32.5% |
| Other amounts receivable | 41 | €28,173 | €28,173 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €104,447 | €102,724 | -€1,723 | -1.6% |
| Deferred charges and accrued income | 490/1 | €33,059 | - | -€33,059 | |
| Total equity and liabilities | 10/49 | €1,132,440 | €501,011 | -€631,428 | -55.8% |
| Equity | 10/15 | -€12,337,485 | -€12,930,927 | -€593,441 | -4.8% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,837,485 | -€13,430,927 | -€593,441 | -4.6% |
| Provisions and deferred taxes | 16 | €48,000 | €25,000 | -€23,000 | -47.9% |
| Provisions for liabilities and charges | 160/5 | €48,000 | €25,000 | -€23,000 | -47.9% |
| Environmental obligations | 163 | €48,000 | - | -€48,000 | |
| Other liabilities and charges | 164/5 | - | €25,000 | +€25,000 | |
| Amounts payable | 17/49 | €13,421,925 | €13,406,938 | -€14,987 | -0.1% |
| Amounts payable after more than one year | 17 | €7,286,086 | €7,476,545 | +€190,459 | +2.6% |
| Financial debts | 170/4 | €903,755 | €903,755 | = | 0.0% |
| Other amounts payable | 178/9 | €6,382,331 | €6,572,790 | +€190,459 | +3.0% |
| Amounts payable within one year | 42/48 | €5,876,751 | €5,903,043 | +€26,292 | +0.4% |
| Current portion of amounts payable after more than one year | 42 | €150,112 | €127,935 | -€22,177 | -14.8% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €1,660,305 | €1,652,895 | -€7,410 | -0.4% |
| Suppliers | 440/4 | €1,660,305 | €1,652,895 | -€7,410 | -0.4% |
| Taxes, remuneration and social security | 45 | €4,061,177 | €4,117,056 | +€55,879 | +1.4% |
| Taxes | 450/3 | €486,794 | €533,561 | +€46,767 | +9.6% |
| Remuneration and social security | 454/9 | €3,574,383 | €3,583,495 | +€9,111 | +0.3% |
| Other amounts payable | 47/48 | €5,157 | €5,157 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €259,088 | €27,350 | -€231,738 | -89.4% |
| Turnover | 70 | €6,384,528 | - | -€6.4m | |
| Goods, raw materials, services and sundry goods | 60/61 | €5,847,212 | - | -€5.8m | |
| Remuneration, social security and pensions | 62 | €4,986,686 | €190,205 | -€4.8m | -96.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,656,732 | €669 | -€1.7m | -100.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,273,763 | €657,206 | -€616,558 | -48.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€23,000 | -€23,000 | |
| Other operating charges | 640/8 | €79,992 | €1,972 | -€78,021 | -97.5% |
| Gross operating margin | 9900 | €575,685 | €243,112 | -€332,573 | -57.8% |
| Operating profit (loss) | 9901 | -€7,421,488 | -€583,939 | +€6.8m | +92.1% |
| Financial income | 75/76B | €1,124 | - | -€1,124 | |
| Recurring financial income | 75 | €1,124 | - | -€1,124 | |
| Financial charges | 65/66B | €370,712 | €9,234 | -€361,478 | -97.5% |
| Recurring financial charges | 65 | €370,712 | €9,234 | -€361,478 | -97.5% |
| Profit (loss) for the period before taxes | 9903 | -€7,791,076 | -€593,173 | +€7.2m | +92.4% |
| Income taxes | 67/77 | €2,222 | €269 | -€1,953 | -87.9% |
| Profit (loss) for the period | 9904 | -€7,793,297 | -€593,441 | +€7.2m | +92.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,793,297 | -€593,441 | +€7.2m | +92.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 January 2025 and 7 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.