ML27: 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.
ML27
Largest movements
- Receivables within one year +€36,291
up €36,291 (+61.4%), from €59,114 to €95,405
of which Other amounts receivable: +€21,292
- Cash -€19,701
down €19,701 (-56.0%), from €35,207 to €15,506
mainly Receivables within one year (-€36,291) and Investment in fixed assets (net) (-€4,302)
- Tangible fixed assets +€1,634
up €1,634 (+20.4%), from €8,012 to €9,646
of which Furniture and vehicles: +€2,699
- Profit (loss) carried forward +€22,680
up €22,680 (+32.6%), from €69,485 to €92,165
- Tax, wage and social debts -€4,199
down €4,199 (-25.7%), from €16,368 to €12,169
of which Taxes: -€2,799
- Gross operating margin -€6,158
down €6,158 (-15.5%), from €39,660 to €33,503
- Taxes -€1,182
down €1,182 (-13.8%), from €8,588 to €7,406
- Depreciation +€1,078
up €1,078 (+67.8%), from €1,589 to €2,667
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 | €102,478 | €120,703 | +€18,225 | +17.8% |
| Fixed assets | 21/28 | €8,087 | €9,721 | +€1,634 | +20.2% |
| Tangible fixed assets | 22/27 | €8,012 | €9,646 | +€1,634 | +20.4% |
| Land and buildings | 22 | €3,308 | €2,968 | -€340 | -10.3% |
| Plant, machinery and equipment | 23 | €2,151 | €1,427 | -€724 | -33.7% |
| Furniture and vehicles | 24 | €2,553 | €5,252 | +€2,699 | +105.7% |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €94,391 | €110,982 | +€16,591 | +17.6% |
| Amounts receivable within one year | 40/41 | €59,114 | €95,405 | +€36,291 | +61.4% |
| Trade receivables | 40 | €4,326 | €19,325 | +€14,999 | +346.7% |
| Other amounts receivable | 41 | €54,788 | €76,080 | +€21,292 | +38.9% |
| Cash at bank and in hand | 54/58 | €35,207 | €15,506 | -€19,701 | -56.0% |
| Deferred charges and accrued income | 490/1 | €69 | €70 | +€1 | +1.6% |
| Total equity and liabilities | 10/49 | €102,478 | €120,703 | +€18,225 | +17.8% |
| Equity | 10/15 | €76,485 | €99,165 | +€22,680 | +29.7% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €69,485 | €92,165 | +€22,680 | +32.6% |
| Amounts payable | 17/49 | €25,993 | €21,538 | -€4,455 | -17.1% |
| Amounts payable within one year | 42/48 | €25,993 | €21,538 | -€4,455 | -17.1% |
| Trade debts | 44 | €9,625 | €9,276 | -€349 | -3.6% |
| Suppliers | 440/4 | €9,625 | €9,276 | -€349 | -3.6% |
| Taxes, remuneration and social security | 45 | €16,368 | €12,169 | -€4,199 | -25.7% |
| Taxes | 450/3 | €11,416 | €8,617 | -€2,799 | -24.5% |
| Remuneration and social security | 454/9 | €4,952 | €3,552 | -€1,400 | -28.3% |
| Other amounts payable | 47/48 | - | €93 | +€93 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,589 | €2,667 | +€1,078 | +67.8% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €39,660 | €33,503 | -€6,158 | -15.5% |
| Operating profit (loss) | 9901 | €37,566 | €30,315 | -€7,251 | -19.3% |
| Financial income | 75/76B | €3 | - | -€3 | |
| Recurring financial income | 75 | €3 | - | -€3 | |
| Financial charges | 65/66B | €199 | €229 | +€30 | +15.0% |
| Recurring financial charges | 65 | €199 | €229 | +€30 | +15.0% |
| Profit (loss) for the period before taxes | 9903 | €37,370 | €30,086 | -€7,283 | -19.5% |
| Income taxes | 67/77 | €8,588 | €7,406 | -€1,182 | -13.8% |
| Profit (loss) for the period | 9904 | €28,782 | €22,680 | -€6,102 | -21.2% |
| Profit (loss) for the period to be appropriated | 9905 | €28,782 | €22,680 | -€6,102 | -21.2% |
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 7 October 2026 via checked.be.