ML-Invest: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
ML-Invest
Largest movements
- Cash +€65,293
up €65,293 (+31.4%), from €208,065 to €273,359
mainly Current portion of long-term debt (+€75,000) and Current investments (+€50,000)
- Current investments -€50,000
down €50,000 (-100%), from €50,000 to €0
- Tangible fixed assets -€39,401
down €39,401 (-2.5%), from €1.5m to €1.5m
- Current portion of long-term debt +€75,000
new in 2025: €75,000
- Debts after one year -€72,750
down €72,750 (-19.0%), from €383,620 to €310,870
of which Financial debts: -€75,000
- Other debts -€26,000
down €26,000 (-1.8%), from €1.4m to €1.4m
- Gross operating margin -€11,872
down €11,872 (-21.8%), from €54,429 to €42,557
- Financial income -€2,266
down €2,266 (-33.0%), from €6,869 to €4,604
- Taxes +€2,061
no longer reported in 2025 (was -€2,061)
- Other operating charges -€1,895
down €1,895 (-23.9%), from €7,934 to €6,039
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,810,150 | €1,787,635 | -€22,515 | -1.2% |
| Fixed assets | 21/28 | €1,548,509 | €1,509,109 | -€39,401 | -2.5% |
| Tangible fixed assets | 22/27 | €1,548,509 | €1,509,109 | -€39,401 | -2.5% |
| Land and buildings | 22 | €1,548,509 | €1,509,109 | -€39,401 | -2.5% |
| Current assets | 29/58 | €261,640 | €278,526 | +€16,886 | +6.5% |
| Amounts receivable within one year | 40/41 | €3,101 | €4,672 | +€1,570 | +50.6% |
| Other amounts receivable | 41 | €3,101 | €4,672 | +€1,570 | +50.6% |
| Current investments | 50/53 | €50,000 | €0 | -€50,000 | -100% |
| Cash at bank and in hand | 54/58 | €208,065 | €273,359 | +€65,293 | +31.4% |
| Deferred charges and accrued income | 490/1 | €474 | €496 | +€22 | +4.6% |
| Total equity and liabilities | 10/49 | €1,810,150 | €1,787,635 | -€22,515 | -1.2% |
| Equity | 10/15 | -€40,086 | -€35,914 | +€4,172 | +10.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €72,850 | €64,033 | -€8,817 | -12.1% |
| Tax-exempt reserves | 132 | €72,850 | €64,033 | -€8,817 | -12.1% |
| Profit (loss) carried forward | 14 | -€174,936 | -€161,947 | +€12,988 | +7.4% |
| Provisions and deferred taxes | 16 | €44,701 | €41,762 | -€2,939 | -6.6% |
| Deferred taxes | 168 | €44,701 | €41,762 | -€2,939 | -6.6% |
| Amounts payable | 17/49 | €1,805,535 | €1,781,787 | -€23,748 | -1.3% |
| Amounts payable after more than one year | 17 | €383,620 | €310,870 | -€72,750 | -19.0% |
| Financial debts | 170/4 | €375,000 | €300,000 | -€75,000 | -20.0% |
| Other amounts payable | 178/9 | €8,620 | €10,870 | +€2,250 | +26.1% |
| Amounts payable within one year | 42/48 | €1,421,915 | €1,470,917 | +€49,002 | +3.4% |
| Current portion of amounts payable after more than one year | 42 | - | €75,000 | +€75,000 | |
| Trade debts | 44 | €264 | €266 | +€2 | +0.8% |
| Suppliers | 440/4 | €264 | €266 | +€2 | +0.8% |
| Other amounts payable | 47/48 | €1,421,651 | €1,395,651 | -€26,000 | -1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,401 | €39,401 | = | 0.0% |
| Other operating charges | 640/8 | €7,934 | €6,039 | -€1,895 | -23.9% |
| Gross operating margin | 9900 | €54,429 | €42,557 | -€11,872 | -21.8% |
| Operating profit (loss) | 9901 | €7,095 | -€2,882 | -€9,977 | |
| Financial income | 75/76B | €6,869 | €4,604 | -€2,266 | -33.0% |
| Recurring financial income | 75 | €6,869 | €4,604 | -€2,266 | -33.0% |
| Financial charges | 65/66B | €707 | €489 | -€219 | -30.9% |
| Recurring financial charges | 65 | €707 | €489 | -€219 | -30.9% |
| Profit (loss) for the period before taxes | 9903 | €13,257 | €1,233 | -€12,024 | -90.7% |
| Transfer from deferred taxes | 780 | €2,939 | €2,939 | = | 0.0% |
| Income taxes | 67/77 | -€2,061 | - | +€2,061 | |
| Profit (loss) for the period | 9904 | €18,257 | €4,172 | -€14,085 | -77.1% |
| Transfer from tax-exempt reserves | 789 | €8,817 | €8,817 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €27,073 | €12,988 | -€14,085 | -52.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.