ML Angelino: what changed
What changed
ML Angelino
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€33,514
2025 · €17,898+€15,616
Equity
€88,587
2025 · €55,072+€33,514
Cash
€52
2025 · €17+€34
Balance sheet total
€220,421
2025 · €185,588+€34,833
Largest movements
Assets
- Receivables within one year +€34,103
up €34,103 (+46.7%), from €73,071 to €107,174
of which Other amounts receivable: +€35,334
Equity and liabilities
- Profit (loss) carried forward +€33,514
up €33,514 (+64.4%), from €52,072 to €85,587
- Other debts +€27,243
up €27,243 (+157%), from €17,316 to €44,560
- Debts after one year -€17,464
down €17,464 (-25.3%), from €69,092 to €51,628
- Trade debts -€6,317
no longer reported in 2026 (was €6,317)
- Tax, wage and social debts -€6,067
down €6,067 (-55.0%), from €11,021 to €4,954
Income statement
- Gross operating margin +€26,850
up €26,850 (+104%), from €25,708 to €52,558
- Other operating charges +€6,276
new in 2026: €6,276
- Taxes +€2,465
up €2,465 (+41.3%), from €5,966 to €8,431
- Financial charges +€2,399
up €2,399 (+130%), from €1,844 to €4,243
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
€17,898
Gross operating margin
+€26,850
Depreciation
-€105
Other operating charges
-€6,276
Financial income
+€12
Financial charges
-€2,399
Taxes
-€2,465
Result 2026
€33,514
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€17,576
Investment
-€801
Financing
-€16,740
Cash 2025
€17
From operations (derived)
+€17,576
Net result for the year
+€33,514
Depreciation
+€105
Receivables within one year
-€34,103
Trade debts
-€6,317
Tax, wage and social debts
-€6,067
Advances received
+€3,200
Other debts
+€27,243
Investment (derived)
-€801
Investment in fixed assets (net)
-€801
Financing
-€16,740
Debts after one year
-€17,464
Current portion of long-term debt
+€711
Short-term financial debts
+€12
Cash 2026
€52
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €185,588 | €220,421 | +€34,833 | +18.8% |
| Fixed assets | 21/28 | €112,500 | €113,196 | +€696 | +0.6% |
| Tangible fixed assets | 22/27 | - | €696 | +€696 | |
| Furniture and vehicles | 24 | - | €696 | +€696 | |
| Financial fixed assets | 28 | €112,500 | €112,500 | = | 0.0% |
| Current assets | 29/58 | €73,088 | €107,225 | +€34,138 | +46.7% |
| Amounts receivable within one year | 40/41 | €73,071 | €107,174 | +€34,103 | +46.7% |
| Trade receivables | 40 | €1,231 | - | -€1,231 | |
| Other amounts receivable | 41 | €71,840 | €107,174 | +€35,334 | +49.2% |
| Cash at bank and in hand | 54/58 | €17 | €52 | +€34 | +201% |
| Total equity and liabilities | 10/49 | €185,588 | €220,421 | +€34,833 | +18.8% |
| Equity | 10/15 | €55,072 | €88,587 | +€33,514 | +60.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,072 | €85,587 | +€33,514 | +64.4% |
| Amounts payable | 17/49 | €130,515 | €131,834 | +€1,319 | +1.0% |
| Amounts payable after more than one year | 17 | €69,092 | €51,628 | -€17,464 | -25.3% |
| Financial debts | 170/4 | €69,092 | €51,628 | -€17,464 | -25.3% |
| Amounts payable within one year | 42/48 | €61,423 | €80,206 | +€18,783 | +30.6% |
| Current portion of amounts payable after more than one year | 42 | €18,178 | €18,889 | +€711 | +3.9% |
| Financial debts | 43 | €8,591 | €8,603 | +€12 | +0.1% |
| Credit institutions | 430/8 | €8,591 | €8,603 | +€12 | +0.1% |
| Trade debts | 44 | €6,317 | - | -€6,317 | |
| Suppliers | 440/4 | €6,317 | - | -€6,317 | |
| Advances received on contracts in progress | 46 | - | €3,200 | +€3,200 | |
| Taxes, remuneration and social security | 45 | €11,021 | €4,954 | -€6,067 | -55.0% |
| Taxes | 450/3 | €11,021 | €4,954 | -€6,067 | -55.0% |
| Other amounts payable | 47/48 | €17,316 | €44,560 | +€27,243 | +157% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €105 | +€105 | |
| Other operating charges | 640/8 | - | €6,276 | +€6,276 | |
| Gross operating margin | 9900 | €25,708 | €52,558 | +€26,850 | +104% |
| Operating profit (loss) | 9901 | €25,708 | €46,177 | +€20,468 | +79.6% |
| Financial income | 75/76B | - | €12 | +€12 | |
| Recurring financial income | 75 | - | €12 | +€12 | |
| Financial charges | 65/66B | €1,844 | €4,243 | +€2,399 | +130% |
| Recurring financial charges | 65 | €1,844 | €4,243 | +€2,399 | +130% |
| Profit (loss) for the period before taxes | 9903 | €23,864 | €41,945 | +€18,081 | +75.8% |
| Income taxes | 67/77 | €5,966 | €8,431 | +€2,465 | +41.3% |
| Profit (loss) for the period | 9904 | €17,898 | €33,514 | +€15,616 | +87.3% |
| Profit (loss) for the period to be appropriated | 9905 | €17,898 | €33,514 | +€15,616 | +87.3% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.