ML Infosec: 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 Infosec
Largest movements
- Cash +€20,875
up €20,875 (+158%), from €13,173 to €34,048
mainly Net result for the year (+€60,899) and Other debts (+€35,020)
- Receivables within one year +€13,259
up €13,259 (+43.4%), from €30,565 to €43,825
of which Trade receivables: +€12,555
- Tangible fixed assets +€4,914
up €4,914 (+35.4%), from €13,880 to €18,794
of which Furniture and vehicles: +€5,393
- Deferred charges and accrued income +€3,460
up €3,460 (+297%), from €1,167 to €4,627
- Other debts +€35,020
up €35,020 (+208%), from €16,860 to €51,880
- Profit (loss) carried forward -€6,876
down €6,876 (-53.8%), from €12,775 to €5,899
- Current portion of long-term debt +€6,509
up €6,509 (+136%), from €4,790 to €11,299
- Trade debts +€6,316
up €6,316 (+365%), from €1,732 to €8,048
- Debts after one year +€2,465
up €2,465 (+38.6%), from €6,389 to €8,853
- Gross operating margin +€45,111
up €45,111 (+83.9%), from €53,760 to €98,871
- Taxes +€11,535
up €11,535 (+176%), from €6,554 to €18,089
- Depreciation +€6,478
up €6,478 (+74.6%), from €8,687 to €15,165
- Other operating charges +€2,938
up €2,938 (+642%), from €457 to €3,396
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 | €58,785 | €101,653 | +€42,868 | +72.9% |
| Fixed assets | 21/28 | €13,880 | €19,154 | +€5,274 | +38.0% |
| Tangible fixed assets | 22/27 | €13,880 | €18,794 | +€4,914 | +35.4% |
| Plant, machinery and equipment | 23 | €479 | €0 | -€479 | -100% |
| Furniture and vehicles | 24 | €13,401 | €18,794 | +€5,393 | +40.2% |
| Financial fixed assets | 28 | - | €360 | +€360 | |
| Current assets | 29/58 | €44,905 | €82,499 | +€37,594 | +83.7% |
| Amounts receivable within one year | 40/41 | €30,565 | €43,825 | +€13,259 | +43.4% |
| Trade receivables | 40 | €29,400 | €41,955 | +€12,555 | +42.7% |
| Other amounts receivable | 41 | €1,165 | €1,870 | +€704 | +60.4% |
| Cash at bank and in hand | 54/58 | €13,173 | €34,048 | +€20,875 | +158% |
| Deferred charges and accrued income | 490/1 | €1,167 | €4,627 | +€3,460 | +297% |
| Total equity and liabilities | 10/49 | €58,785 | €101,653 | +€42,868 | +72.9% |
| Equity | 10/15 | €17,514 | €10,639 | -€6,876 | -39.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €2,740 | €2,740 | = | 0.0% |
| Distributable reserves | 133 | €2,740 | €2,740 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,775 | €5,899 | -€6,876 | -53.8% |
| Amounts payable | 17/49 | €41,271 | €91,015 | +€49,743 | +121% |
| Amounts payable after more than one year | 17 | €6,389 | €8,853 | +€2,465 | +38.6% |
| Financial debts | 170/4 | €6,389 | €8,853 | +€2,465 | +38.6% |
| Amounts payable within one year | 42/48 | €34,883 | €82,161 | +€47,278 | +136% |
| Current portion of amounts payable after more than one year | 42 | €4,790 | €11,299 | +€6,509 | +136% |
| Financial debts | 43 | €1,989 | €242 | -€1,748 | -87.9% |
| Other loans | 439 | €1,989 | €242 | -€1,748 | -87.9% |
| Trade debts | 44 | €1,732 | €8,048 | +€6,316 | +365% |
| Suppliers | 440/4 | €1,732 | €8,048 | +€6,316 | +365% |
| Taxes, remuneration and social security | 45 | €9,511 | €10,693 | +€1,182 | +12.4% |
| Taxes | 450/3 | €9,180 | €10,693 | +€1,513 | +16.5% |
| Remuneration and social security | 454/9 | €331 | €0 | -€331 | -100% |
| Other amounts payable | 47/48 | €16,860 | €51,880 | +€35,020 | +208% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,687 | €15,165 | +€6,478 | +74.6% |
| Other operating charges | 640/8 | €457 | €3,396 | +€2,938 | +642% |
| Gross operating margin | 9900 | €53,760 | €98,871 | +€45,111 | +83.9% |
| Operating profit (loss) | 9901 | €44,616 | €80,310 | +€35,695 | +80.0% |
| Financial income | 75/76B | €1,110 | €657 | -€453 | -40.8% |
| Recurring financial income | 75 | €1,110 | €657 | -€453 | -40.8% |
| Financial charges | 65/66B | €1,344 | €1,979 | +€635 | +47.3% |
| Recurring financial charges | 65 | €1,344 | €1,979 | +€635 | +47.3% |
| Profit (loss) for the period before taxes | 9903 | €44,382 | €78,988 | +€34,606 | +78.0% |
| Income taxes | 67/77 | €6,554 | €18,089 | +€11,535 | +176% |
| Profit (loss) for the period | 9904 | €37,828 | €60,899 | +€23,071 | +61.0% |
| Profit (loss) for the period to be appropriated | 9905 | €37,828 | €60,899 | +€23,071 | +61.0% |
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 17 October 2026 via checked.be.