ML2Grow: 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.
ML2Grow
Largest movements
- Receivables within one year -€76,927
down €76,927 (-24.2%), from €318,001 to €241,074
of which Other amounts receivable: -€58,218
- Cash +€74,371
up €74,371 (+225.6%), from €32,968 to €107,340
mainly Receivables within one year (+€76,927) and Accrued charges and deferred income (+€43,767)
- Intangible fixed assets -€12,339
down €12,339 (-36.4%), from €33,885 to €21,546
- Tangible fixed assets -€9,819
down €9,819 (-23.7%), from €41,426 to €31,607
of which Plant, machinery and equipment: -€14,680
- Accrued charges and deferred income +€43,767
up €43,767 (+567.4%), from €7,713 to €51,480
- Trade debts -€32,316
down €32,316 (-62.0%), from €52,136 to €19,820
- Tax, wage and social debts -€23,076
down €23,076 (-18.0%), from €128,179 to €105,103
of which Taxes: -€16,599
- Short-term financial debts -€13,357
down €13,357 (-100.0%), from €13,357 to €0
- Current portion of long-term debt -€12,022
down €12,022 (-61.5%), from €19,540 to €7,517
- Gross operating margin +€115,228
up €115,228 (+29.9%), from €385,656 to €500,884
- Staff costs +€105,589
up €105,589 (+31.3%), from €336,890 to €442,479
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 | €433,089 | €406,574 | -€26,515 | -6.1% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €75,311 | €53,153 | -€22,158 | -29.4% |
| Intangible fixed assets | 21 | €33,885 | €21,546 | -€12,339 | -36.4% |
| Tangible fixed assets | 22/27 | €41,426 | €31,607 | -€9,819 | -23.7% |
| Land and buildings | 22 | €3,024 | €2,635 | -€389 | -12.9% |
| Plant, machinery and equipment | 23 | €38,402 | €23,722 | -€14,680 | -38.2% |
| Furniture and vehicles | 24 | - | €5,250 | +€5,250 | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €357,778 | €353,420 | -€4,357 | -1.2% |
| Amounts receivable within one year | 40/41 | €318,001 | €241,074 | -€76,927 | -24.2% |
| Trade receivables | 40 | €259,663 | €240,954 | -€18,709 | -7.2% |
| Other amounts receivable | 41 | €58,338 | €121 | -€58,218 | -99.8% |
| Cash at bank and in hand | 54/58 | €32,968 | €107,340 | +€74,371 | +225.6% |
| Deferred charges and accrued income | 490/1 | €6,808 | €5,006 | -€1,802 | -26.5% |
| Total equity and liabilities | 10/49 | €433,089 | €406,574 | -€26,515 | -6.1% |
| Equity | 10/15 | €212,165 | €222,653 | +€10,489 | +4.9% |
| Contributions | 10/11 | €208,550 | €208,550 | = | 0.0% |
| Capital | 10 | €208,550 | €208,550 | = | 0.0% |
| Issued capital | 100 | €208,550 | €208,550 | = | 0.0% |
| Reserves | 13 | €3,615 | €14,103 | +€10,489 | +290.2% |
| Non-distributable reserves | 130/1 | €181 | €705 | +€524 | +290.2% |
| Legal reserve | 130 | €181 | €705 | +€524 | +290.2% |
| Distributable reserves | 133 | €3,434 | €13,398 | +€9,964 | +290.2% |
| Amounts payable | 17/49 | €220,924 | €183,920 | -€37,004 | -16.7% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €213,211 | €132,440 | -€80,771 | -37.9% |
| Current portion of amounts payable after more than one year | 42 | €19,540 | €7,517 | -€12,022 | -61.5% |
| Financial debts | 43 | €13,357 | €0 | -€13,357 | -100.0% |
| Credit institutions | 430/8 | €13,357 | €0 | -€13,357 | -100.0% |
| Trade debts | 44 | €52,136 | €19,820 | -€32,316 | -62.0% |
| Suppliers | 440/4 | €52,136 | €19,820 | -€32,316 | -62.0% |
| Taxes, remuneration and social security | 45 | €128,179 | €105,103 | -€23,076 | -18.0% |
| Taxes | 450/3 | €62,608 | €46,009 | -€16,599 | -26.5% |
| Remuneration and social security | 454/9 | €65,571 | €59,094 | -€6,477 | -9.9% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €7,713 | €51,480 | +€43,767 | +567.4% |
| Non-recurring operating income | 76A | €0 | €4,381 | +€4,381 | |
| Remuneration, social security and pensions | 62 | €336,890 | €442,479 | +€105,589 | +31.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,644 | €33,711 | -€3,933 | -10.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,022 | €0 | -€1,022 | -100.0% |
| Other operating charges | 640/8 | €946 | €467 | -€479 | -50.6% |
| Non-recurring operating charges | 66A | - | €3,072 | +€3,072 | |
| Gross operating margin | 9900 | €385,656 | €500,884 | +€115,228 | +29.9% |
| Operating profit (loss) | 9901 | €9,154 | €21,154 | +€12,000 | +131.1% |
| Financial income | 75/76B | €1,278 | €638 | -€639 | -50.0% |
| Recurring financial income | 75 | €1,278 | €638 | -€639 | -50.0% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €6,050 | €2,973 | -€3,077 | -50.9% |
| Recurring financial charges | 65 | €1,669 | €2,973 | +€1,305 | +78.2% |
| Non-recurring financial charges | 66B | €4,381 | €0 | -€4,381 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €4,381 | €18,819 | +€14,437 | +329.5% |
| Income taxes | 67/77 | €4,269 | €8,330 | +€4,061 | +95.1% |
| Profit (loss) for the period | 9904 | €112 | €10,489 | +€10,376 | +9236.4% |
| Profit (loss) for the period to be appropriated | 9905 | €112 | €10,489 | +€10,376 | +9236.4% |
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 5 October 2026 via checked.be.