ML RENOVATION: 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 RENOVATION
Largest movements
- Tangible fixed assets +€46,273
new in 2025: €46,273
- Receivables within one year +€17,326
up €17,326 (+155%), from €11,149 to €28,475
of which Trade receivables: +€13,332
- Cash +€2,800
up €2,800 (+20.8%), from €13,477 to €16,277
mainly Debts after one year (+€45,000) and Net result for the year (+€20,496)
- Deferred charges and accrued income +€1,116
up €1,116 (+230%), from €485 to €1,601
- Debts after one year +€45,000
new in 2025: €45,000
- Profit (loss) carried forward +€20,496
up €20,496, from -€140 to €20,356
- Trade debts -€7,974
down €7,974 (-86.5%), from €9,220 to €1,246
- Tax, wage and social debts +€5,111
up €5,111 (+35.5%), from €14,400 to €19,511
of which Taxes: +€5,111
- Other debts +€4,857
up €4,857 (+674%), from €721 to €5,578
- Gross operating margin +€38,946
up €38,946 (+6,029%), from €646 to €39,592
- Depreciation +€13,060
new in 2025: €13,060
- Taxes +€5,111
new in 2025: €5,111
- Other operating charges +€629
new in 2025: €629
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 | €25,201 | €92,716 | +€67,515 | +268% |
| Fixed assets | 21/28 | €90 | €46,363 | +€46,273 | +51,432% |
| Tangible fixed assets | 22/27 | - | €46,273 | +€46,273 | |
| Furniture and vehicles | 24 | - | €46,273 | +€46,273 | |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €25,111 | €46,352 | +€21,241 | +84.6% |
| Amounts receivable within one year | 40/41 | €11,149 | €28,475 | +€17,326 | +155% |
| Trade receivables | 40 | €9,980 | €23,313 | +€13,332 | +134% |
| Other amounts receivable | 41 | €1,169 | €5,162 | +€3,993 | +342% |
| Cash at bank and in hand | 54/58 | €13,477 | €16,277 | +€2,800 | +20.8% |
| Deferred charges and accrued income | 490/1 | €485 | €1,601 | +€1,116 | +230% |
| Total equity and liabilities | 10/49 | €25,201 | €92,716 | +€67,515 | +268% |
| Equity | 10/15 | €860 | €21,356 | +€20,496 | +2,384% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€140 | €20,356 | +€20,496 | |
| Amounts payable | 17/49 | €24,341 | €71,360 | +€47,019 | +193% |
| Amounts payable after more than one year | 17 | - | €45,000 | +€45,000 | |
| Other amounts payable | 178/9 | - | €45,000 | +€45,000 | |
| Amounts payable within one year | 42/48 | €24,341 | €26,335 | +€1,994 | +8.2% |
| Trade debts | 44 | €9,220 | €1,246 | -€7,974 | -86.5% |
| Suppliers | 440/4 | €9,220 | €1,246 | -€7,974 | -86.5% |
| Taxes, remuneration and social security | 45 | €14,400 | €19,511 | +€5,111 | +35.5% |
| Taxes | 450/3 | - | €5,111 | +€5,111 | |
| Remuneration and social security | 454/9 | €14,400 | €14,400 | = | 0.0% |
| Other amounts payable | 47/48 | €721 | €5,578 | +€4,857 | +674% |
| Accrued charges and deferred income | 492/3 | - | €25 | +€25 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €13,060 | +€13,060 | |
| Other operating charges | 640/8 | - | €629 | +€629 | |
| Gross operating margin | 9900 | €646 | €39,592 | +€38,946 | +6,029% |
| Operating profit (loss) | 9901 | €646 | €25,902 | +€25,256 | +3,910% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Non-recurring financial income | 76B | - | €0 | +€0 | |
| Financial charges | 65/66B | €139 | €295 | +€156 | +112% |
| Recurring financial charges | 65 | €139 | €295 | +€156 | +112% |
| Profit (loss) for the period before taxes | 9903 | €507 | €25,607 | +€25,100 | +4,952% |
| Income taxes | 67/77 | - | €5,111 | +€5,111 | |
| Profit (loss) for the period | 9904 | €507 | €20,496 | +€19,989 | +3,944% |
| Profit (loss) for the period to be appropriated | 9905 | €507 | €20,496 | +€19,989 | +3,944% |
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 18 October 2026 via checked.be.