ML ELEC: 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.
ML ELEC
Largest movements
- Cash +€18,689
up €18,689 (+47.9%), from €39,001 to €57,690
mainly Net result for the year (+€17,121) and Depreciation (+€12,168)
- Tangible fixed assets -€7,836
down €7,836 (-23.3%), from €33,623 to €25,787
of which Furniture and vehicles: -€6,503
- Receivables within one year +€3,585
up €3,585 (+31.6%), from €11,334 to €14,919
of which Other amounts receivable: +€2,943
- Advances received -€21,178
no longer reported in 2025 (was €21,178)
- Accrued charges and deferred income +€11,435
up €11,435 (+33405.7%), from €34 to €11,469
- Trade debts +€8,724
up €8,724 (+147.5%), from €5,914 to €14,638
- Other debts +€8,627
up €8,627 (+160.6%), from €5,371 to €13,998
- Reserves +€6,452
up €6,452 (+17.9%), from €36,087 to €42,539
- Gross operating margin +€18,665
up €18,665 (+63.5%), from €29,415 to €48,080
- Staff costs +€6,745
up €6,745 (+337.8%), from €1,997 to €8,742
- Taxes +€4,370
up €4,370 (+94.8%), from €4,607 to €8,978
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.
Cash bridge derived
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 | €85,202 | €99,583 | +€14,381 | +16.9% |
| Fixed assets | 21/28 | €33,828 | €25,992 | -€7,836 | -23.2% |
| Tangible fixed assets | 22/27 | €33,623 | €25,787 | -€7,836 | -23.3% |
| Plant, machinery and equipment | 23 | €1,475 | €142 | -€1,333 | -90.4% |
| Furniture and vehicles | 24 | €32,148 | €25,645 | -€6,503 | -20.2% |
| Financial fixed assets | 28 | €205 | €205 | = | 0.0% |
| Current assets | 29/58 | €51,374 | €73,591 | +€22,217 | +43.2% |
| Stocks and contracts in progress | 3 | €658 | €983 | +€325 | +49.4% |
| Stocks | 30/36 | €658 | €983 | +€325 | +49.4% |
| Amounts receivable within one year | 40/41 | €11,334 | €14,919 | +€3,585 | +31.6% |
| Trade receivables | 40 | €4,271 | €4,913 | +€642 | +15.0% |
| Other amounts receivable | 41 | €7,063 | €10,006 | +€2,943 | +41.7% |
| Cash at bank and in hand | 54/58 | €39,001 | €57,690 | +€18,689 | +47.9% |
| Deferred charges and accrued income | 490/1 | €381 | - | -€381 | |
| Total equity and liabilities | 10/49 | €85,202 | €99,583 | +€14,381 | +16.9% |
| Equity | 10/15 | €48,434 | €55,507 | +€7,073 | +14.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €36,087 | €42,539 | +€6,452 | +17.9% |
| Distributable reserves | 133 | €36,087 | €42,539 | +€6,452 | +17.9% |
| Profit (loss) carried forward | 14 | €11,347 | €11,968 | +€621 | +5.5% |
| Amounts payable | 17/49 | €36,768 | €44,076 | +€7,308 | +19.9% |
| Amounts payable within one year | 42/48 | €36,734 | €32,607 | -€4,127 | -11.2% |
| Current portion of amounts payable after more than one year | 42 | €3,832 | - | -€3,832 | |
| Financial debts | 43 | - | €561 | +€561 | |
| Other loans | 439 | - | €561 | +€561 | |
| Trade debts | 44 | €5,914 | €14,638 | +€8,724 | +147.5% |
| Suppliers | 440/4 | €5,914 | €14,638 | +€8,724 | +147.5% |
| Advances received on contracts in progress | 46 | €21,178 | - | -€21,178 | |
| Taxes, remuneration and social security | 45 | €438 | €3,410 | +€2,971 | +678.1% |
| Taxes | 450/3 | - | €2,152 | +€2,152 | |
| Remuneration and social security | 454/9 | €438 | €1,257 | +€819 | +186.9% |
| Other amounts payable | 47/48 | €5,371 | €13,998 | +€8,627 | +160.6% |
| Accrued charges and deferred income | 492/3 | €34 | €11,469 | +€11,435 | +33405.7% |
| Remuneration, social security and pensions | 62 | €1,997 | €8,742 | +€6,745 | +337.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,803 | €12,168 | +€365 | +3.1% |
| Other operating charges | 640/8 | €1,071 | €1,117 | +€45 | +4.2% |
| Gross operating margin | 9900 | €29,415 | €48,080 | +€18,665 | +63.5% |
| Operating profit (loss) | 9901 | €14,544 | €26,054 | +€11,510 | +79.1% |
| Financial income | 75/76B | €439 | €236 | -€204 | -46.4% |
| Recurring financial income | 75 | €439 | €236 | -€204 | -46.4% |
| Financial charges | 65/66B | €353 | €191 | -€162 | -45.8% |
| Recurring financial charges | 65 | €353 | €191 | -€162 | -45.8% |
| Profit (loss) for the period before taxes | 9903 | €14,631 | €26,098 | +€11,468 | +78.4% |
| Income taxes | 67/77 | €4,607 | €8,978 | +€4,370 | +94.8% |
| Profit (loss) for the period | 9904 | €10,023 | €17,121 | +€7,098 | +70.8% |
| Profit (loss) for the period to be appropriated | 9905 | €10,023 | €17,121 | +€7,098 | +70.8% |
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 10 October 2026 via checked.be.