ML Group: 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.
ML Group
Largest movements
- Receivables within one year +€11,938
up €11,938 (+22.6%), from €52,774 to €64,712
of which Other amounts receivable: +€11,685
- Tangible fixed assets -€7,844
down €7,844 (-17.0%), from €46,148 to €38,304
of which Furniture and vehicles: -€9,909
- Cash +€6,790
up €6,790 (+116.4%), from €5,833 to €12,623
mainly Depreciation (+€15,046) and Tax, wage and social debts (+€6,042)
- Stocks and contracts -€5,895
no longer reported in 2025 (was €5,895)
- Deferred charges and accrued income +€1,544
up €1,544 (+531.1%), from €291 to €1,835
- Tax, wage and social debts +€6,042
up €6,042 (+151.0%), from €4,001 to €10,043
of which Taxes: +€7,442
- Trade debts -€2,880
down €2,880 (-53.6%), from €5,372 to €2,492
- Profit (loss) carried forward +€2,500
up €2,500 (+100.0%), from €2,500 to €5,000
- Other debts +€1,670
up €1,670 (+1.8%), from €94,070 to €95,740
- Gross operating margin +€13,413
up €13,413 (+121.0%), from €11,083 to €24,495
- Depreciation +€11,729
up €11,729 (+353.6%), from €3,317 to €15,046
- Taxes +€807
up €807 (+38.9%), from €2,076 to €2,884
- Other operating charges +€717
up €717 (+66.2%), from €1,084 to €1,801
- Financial charges +€247
up €247 (+63.6%), from €388 to €635
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 | €110,943 | €118,275 | +€7,332 | +6.6% |
| Fixed assets | 21/28 | €46,149 | €39,105 | -€7,044 | -15.3% |
| Tangible fixed assets | 22/27 | €46,148 | €38,304 | -€7,844 | -17.0% |
| Land and buildings | 22 | - | €4,299 | +€4,299 | |
| Plant, machinery and equipment | 23 | €7,640 | €5,406 | -€2,234 | -29.2% |
| Furniture and vehicles | 24 | €38,508 | €28,599 | -€9,909 | -25.7% |
| Financial fixed assets | 28 | €1 | €801 | +€800 | +80000.0% |
| Current assets | 29/58 | €64,794 | €79,170 | +€14,376 | +22.2% |
| Stocks and contracts in progress | 3 | €5,895 | - | -€5,895 | |
| Stocks | 30/36 | €5,895 | - | -€5,895 | |
| Amounts receivable within one year | 40/41 | €52,774 | €64,712 | +€11,938 | +22.6% |
| Trade receivables | 40 | €18,660 | €18,912 | +€252 | +1.4% |
| Other amounts receivable | 41 | €34,115 | €45,800 | +€11,685 | +34.3% |
| Cash at bank and in hand | 54/58 | €5,833 | €12,623 | +€6,790 | +116.4% |
| Deferred charges and accrued income | 490/1 | €291 | €1,835 | +€1,544 | +531.1% |
| Total equity and liabilities | 10/49 | €110,943 | €118,275 | +€7,332 | +6.6% |
| Equity | 10/15 | €7,500 | €10,000 | +€2,500 | +33.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,500 | €5,000 | +€2,500 | +100.0% |
| Amounts payable | 17/49 | €103,444 | €108,276 | +€4,832 | +4.7% |
| Amounts payable within one year | 42/48 | €103,444 | €108,276 | +€4,832 | +4.7% |
| Trade debts | 44 | €5,372 | €2,492 | -€2,880 | -53.6% |
| Suppliers | 440/4 | €5,372 | €2,492 | -€2,880 | -53.6% |
| Taxes, remuneration and social security | 45 | €4,001 | €10,043 | +€6,042 | +151.0% |
| Taxes | 450/3 | €2,601 | €10,043 | +€7,442 | +286.1% |
| Remuneration and social security | 454/9 | €1,400 | - | -€1,400 | |
| Other amounts payable | 47/48 | €94,070 | €95,740 | +€1,670 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,317 | €15,046 | +€11,729 | +353.6% |
| Other operating charges | 640/8 | €1,084 | €1,801 | +€717 | +66.2% |
| Gross operating margin | 9900 | €11,083 | €24,495 | +€13,413 | +121.0% |
| Operating profit (loss) | 9901 | €6,682 | €7,648 | +€966 | +14.5% |
| Financial income | 75/76B | €0 | €37 | +€37 | +93275.0% |
| Recurring financial income | 75 | €0 | €37 | +€37 | +93275.0% |
| Financial charges | 65/66B | €388 | €635 | +€247 | +63.6% |
| Recurring financial charges | 65 | €388 | €635 | +€247 | +63.6% |
| Profit (loss) for the period before taxes | 9903 | €6,294 | €7,050 | +€756 | +12.0% |
| Income taxes | 67/77 | €2,076 | €2,884 | +€807 | +38.9% |
| Profit (loss) for the period | 9904 | €4,218 | €4,166 | -€51 | -1.2% |
| Profit (loss) for the period to be appropriated | 9905 | €4,218 | €4,166 | -€51 | -1.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.