MKR: 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.
MKR
Largest movements
- Receivables within one year +€5,239
up €5,239 (+54.6%), from €9,600 to €14,839
of which Other amounts receivable: +€7,739
- Cash +€2,536
up €2,536 (+9.4%), from €27,098 to €29,634
mainly Net result for the year (+€26,742) and Depreciation (+€470)
- Reserves +€26,742
up €26,742 (+106%), from €25,119 to €51,861
- Debts after one year -€7,935
down €7,935 (-30.2%), from €26,240 to €18,305
- Current portion of long-term debt -€7,893
down €7,893 (-49.9%), from €15,828 to €7,935
- Trade debts -€1,497
down €1,497 (-74.1%), from €2,020 to €524
- Gross operating margin +€2,180
up €2,180 (+5.8%), from €37,752 to €39,932
- Taxes +€1,454
up €1,454 (+15.1%), from €9,631 to €11,084
- Depreciation +€433
up €433 (+1,168%), from €37 to €470
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 | €79,752 | €88,349 | +€8,597 | +10.8% |
| Fixed assets | 21/28 | €41,160 | €41,716 | +€555 | +1.3% |
| Tangible fixed assets | 22/27 | €1,160 | €1,716 | +€555 | +47.8% |
| Plant, machinery and equipment | 23 | €1,160 | €1,716 | +€555 | +47.8% |
| Financial fixed assets | 28 | €40,000 | €40,000 | = | 0.0% |
| Current assets | 29/58 | €38,592 | €46,634 | +€8,042 | +20.8% |
| Amounts receivable within one year | 40/41 | €9,600 | €14,839 | +€5,239 | +54.6% |
| Trade receivables | 40 | €9,600 | €7,100 | -€2,500 | -26.0% |
| Other amounts receivable | 41 | - | €7,739 | +€7,739 | |
| Cash at bank and in hand | 54/58 | €27,098 | €29,634 | +€2,536 | +9.4% |
| Deferred charges and accrued income | 490/1 | €1,893 | €2,160 | +€267 | +14.1% |
| Total equity and liabilities | 10/49 | €79,752 | €88,349 | +€8,597 | +10.8% |
| Equity | 10/15 | €25,119 | €51,861 | +€26,742 | +106% |
| Reserves | 13 | €25,119 | €51,861 | +€26,742 | +106% |
| Distributable reserves | 133 | €25,119 | €51,861 | +€26,742 | +106% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €54,633 | €36,489 | -€18,145 | -33.2% |
| Amounts payable after more than one year | 17 | €26,240 | €18,305 | -€7,935 | -30.2% |
| Financial debts | 170/4 | €26,240 | €18,305 | -€7,935 | -30.2% |
| Amounts payable within one year | 42/48 | €28,393 | €18,183 | -€10,210 | -36.0% |
| Current portion of amounts payable after more than one year | 42 | €15,828 | €7,935 | -€7,893 | -49.9% |
| Trade debts | 44 | €2,020 | €524 | -€1,497 | -74.1% |
| Suppliers | 440/4 | €2,020 | €524 | -€1,497 | -74.1% |
| Taxes, remuneration and social security | 45 | €9,711 | €9,725 | +€13 | +0.1% |
| Taxes | 450/3 | €6,949 | €9,725 | +€2,776 | +39.9% |
| Remuneration and social security | 454/9 | €2,763 | €0 | -€2,763 | -100% |
| Other amounts payable | 47/48 | €833 | €0 | -€833 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37 | €470 | +€433 | +1,168% |
| Other operating charges | 640/8 | €118 | €381 | +€263 | +223% |
| Gross operating margin | 9900 | €37,752 | €39,932 | +€2,180 | +5.8% |
| Operating profit (loss) | 9901 | €37,597 | €39,081 | +€1,484 | +3.9% |
| Financial income | 75/76B | €0 | €206 | +€206 | +187,045% |
| Recurring financial income | 75 | €0 | €206 | +€206 | +187,045% |
| Financial charges | 65/66B | €1,263 | €1,461 | +€198 | +15.7% |
| Recurring financial charges | 65 | €1,263 | €1,461 | +€198 | +15.7% |
| Profit (loss) for the period before taxes | 9903 | €36,335 | €37,826 | +€1,492 | +4.1% |
| Income taxes | 67/77 | €9,631 | €11,084 | +€1,454 | +15.1% |
| Profit (loss) for the period | 9904 | €26,704 | €26,742 | +€38 | +0.1% |
| Profit (loss) for the period to be appropriated | 9905 | €26,704 | €26,742 | +€38 | +0.1% |
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 14 October 2026 via checked.be.