ML HOLDING: 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 HOLDING
Largest movements
- Financial fixed assets +€616,667
up €616,667 (+38.4%), from €1.6m to €2.2m
- Current investments +€504,979
new in 2025: €504,979
- Cash -€446,729
down €446,729 (-66.3%), from €673,413 to €226,684
mainly Investment in fixed assets (net) (-€706,333) and Current investments (-€504,979)
- Receivables within one year +€72,685
up €72,685 (+48.5%), from €149,954 to €222,638
of which Other amounts receivable: +€90,000
- Formation expenses +€59,778
new in 2025: €59,778
- Other debts +€574,011
up €574,011 (+134.1%), from €427,930 to €1.0m
- Debts after one year +€298,235
up €298,235 (+25.5%), from €1.2m to €1.5m
- Reserves -€101,156
down €101,156 (-15.0%), from €674,877 to €573,721
- Current portion of long-term debt +€73,653
up €73,653 (+65.0%), from €113,397 to €187,050
- Financial income +€96,936
up €96,936 (+39.7%), from €244,236 to €341,171
- Gross operating margin -€51,799
down €51,799 (-56.1%), from €92,358 to €40,558
- Depreciation +€29,107
up €29,107 (+2494.2%), from €1,167 to €30,274
- Taxes -€21,073
down €21,073 (-86.8%), from €24,275 to €3,202
- Financial charges +€17,651
up €17,651 (+338.0%), from €5,222 to €22,873
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 | €2,430,053 | €3,235,048 | +€804,994 | +33.1% |
| Formation expenses | 20 | - | €59,778 | +€59,778 | |
| Fixed assets | 21/28 | €1,604,686 | €2,220,968 | +€616,282 | +38.4% |
| Tangible fixed assets | 22/27 | €385 | - | -€385 | |
| Furniture and vehicles | 24 | €385 | - | -€385 | |
| Financial fixed assets | 28 | €1,604,301 | €2,220,968 | +€616,667 | +38.4% |
| Current assets | 29/58 | €825,367 | €954,302 | +€128,935 | +15.6% |
| Amounts receivable within one year | 40/41 | €149,954 | €222,638 | +€72,685 | +48.5% |
| Trade receivables | 40 | €33,871 | €16,555 | -€17,316 | -51.1% |
| Other amounts receivable | 41 | €116,083 | €206,083 | +€90,000 | +77.5% |
| Current investments | 50/53 | - | €504,979 | +€504,979 | |
| Cash at bank and in hand | 54/58 | €673,413 | €226,684 | -€446,729 | -66.3% |
| Deferred charges and accrued income | 490/1 | €2,000 | - | -€2,000 | |
| Total equity and liabilities | 10/49 | €2,430,053 | €3,235,048 | +€804,994 | +33.1% |
| Equity | 10/15 | €679,877 | €578,721 | -€101,156 | -14.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €674,877 | €573,721 | -€101,156 | -15.0% |
| Distributable reserves | 133 | €674,877 | €573,721 | -€101,156 | -15.0% |
| Amounts payable | 17/49 | €1,750,176 | €2,656,326 | +€906,150 | +51.8% |
| Amounts payable after more than one year | 17 | €1,168,177 | €1,466,412 | +€298,235 | +25.5% |
| Financial debts | 170/4 | €1,168,177 | €1,466,412 | +€298,235 | +25.5% |
| Amounts payable within one year | 42/48 | €581,999 | €1,189,514 | +€607,515 | +104.4% |
| Current portion of amounts payable after more than one year | 42 | €113,397 | €187,050 | +€73,653 | +65.0% |
| Trade debts | 44 | €10,732 | - | -€10,732 | |
| Suppliers | 440/4 | €10,732 | - | -€10,732 | |
| Taxes, remuneration and social security | 45 | €29,941 | €524 | -€29,417 | -98.3% |
| Taxes | 450/3 | €28,941 | €524 | -€28,417 | -98.2% |
| Remuneration and social security | 454/9 | €1,000 | - | -€1,000 | |
| Other amounts payable | 47/48 | €427,930 | €1,001,940 | +€574,011 | +134.1% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,167 | €30,274 | +€29,107 | +2494.2% |
| Other operating charges | 640/8 | - | €6,537 | +€6,537 | |
| Gross operating margin | 9900 | €92,358 | €40,558 | -€51,799 | -56.1% |
| Operating profit (loss) | 9901 | €91,191 | €3,747 | -€87,444 | -95.9% |
| Financial income | 75/76B | €244,236 | €341,171 | +€96,936 | +39.7% |
| Recurring financial income | 75 | €244,236 | €341,171 | +€96,936 | +39.7% |
| Financial charges | 65/66B | €5,222 | €22,873 | +€17,651 | +338.0% |
| Recurring financial charges | 65 | €5,222 | €22,873 | +€17,651 | +338.0% |
| Profit (loss) for the period before taxes | 9903 | €330,205 | €322,046 | -€8,159 | -2.5% |
| Income taxes | 67/77 | €24,275 | €3,202 | -€21,073 | -86.8% |
| Profit (loss) for the period | 9904 | €305,930 | €318,844 | +€12,914 | +4.2% |
| Profit (loss) for the period to be appropriated | 9905 | €305,930 | €318,844 | +€12,914 | +4.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.