MLA FIXINGS: 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.
MLA FIXINGS
Largest movements
- Cash +€75,017
up €75,017 (+652%), from €11,503 to €86,520
mainly Depreciation (+€151,702) and Receivables within one year (+€61,163)
- Receivables within one year -€61,163
down €61,163 (-15.0%), from €407,109 to €345,946
of which Trade receivables: -€85,376
- Stocks and contracts +€18,991
up €18,991 (+5.2%), from €367,876 to €386,867
- Debts after one year -€59,665
down €59,665 (-11.7%), from €508,436 to €448,771
- Short-term financial debts +€54,994
up €54,994 (+36.7%), from €150,006 to €205,000
- Trade debts -€27,804
down €27,804 (-10.3%), from €270,697 to €242,893
- Tax, wage and social debts +€23,816
up €23,816 (+26.5%), from €89,786 to €113,602
of which Remuneration and social security: +€22,993
- Current portion of long-term debt +€21,164
up €21,164 (+19.9%), from €106,264 to €127,428
- Gross operating margin +€86,499
up €86,499 (+19.8%), from €437,021 to €523,520
- Financial charges +€13,105
up €13,105 (+24.0%), from €54,685 to €67,790
- Staff costs +€11,836
up €11,836 (+4.5%), from €260,216 to €272,052
- Taxes +€8,950
up €8,950 (+3,456%), from €259 to €9,209
- Financial income -€8,635
down €8,635 (-99.9%), from €8,645 to €10
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 | €1,657,404 | €1,680,405 | +€23,001 | +1.4% |
| Fixed assets | 21/28 | €870,916 | €861,072 | -€9,844 | -1.1% |
| Tangible fixed assets | 22/27 | €870,916 | €861,072 | -€9,844 | -1.1% |
| Land and buildings | 22 | €654,063 | €613,255 | -€40,808 | -6.2% |
| Plant, machinery and equipment | 23 | €215,920 | €237,531 | +€21,611 | +10.0% |
| Furniture and vehicles | 24 | €933 | €10,286 | +€9,353 | +1,002% |
| Current assets | 29/58 | €786,488 | €819,333 | +€32,845 | +4.2% |
| Stocks and contracts in progress | 3 | €367,876 | €386,867 | +€18,991 | +5.2% |
| Stocks | 30/36 | €367,876 | €386,867 | +€18,991 | +5.2% |
| Amounts receivable within one year | 40/41 | €407,109 | €345,946 | -€61,163 | -15.0% |
| Trade receivables | 40 | €266,172 | €180,796 | -€85,376 | -32.1% |
| Other amounts receivable | 41 | €140,937 | €165,150 | +€24,213 | +17.2% |
| Cash at bank and in hand | 54/58 | €11,503 | €86,520 | +€75,017 | +652% |
| Total equity and liabilities | 10/49 | €1,657,404 | €1,680,405 | +€23,001 | +1.4% |
| Equity | 10/15 | €530,876 | €542,229 | +€11,353 | +2.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €512,276 | €523,629 | +€11,353 | +2.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €510,416 | €521,769 | +€11,353 | +2.2% |
| Amounts payable | 17/49 | €1,126,528 | €1,138,176 | +€11,648 | +1.0% |
| Amounts payable after more than one year | 17 | €508,436 | €448,771 | -€59,665 | -11.7% |
| Financial debts | 170/4 | €508,436 | €448,771 | -€59,665 | -11.7% |
| Amounts payable within one year | 42/48 | €616,753 | €688,923 | +€72,170 | +11.7% |
| Current portion of amounts payable after more than one year | 42 | €106,264 | €127,428 | +€21,164 | +19.9% |
| Financial debts | 43 | €150,006 | €205,000 | +€54,994 | +36.7% |
| Credit institutions | 430/8 | €150,006 | €205,000 | +€54,994 | +36.7% |
| Trade debts | 44 | €270,697 | €242,893 | -€27,804 | -10.3% |
| Suppliers | 440/4 | €270,697 | €242,893 | -€27,804 | -10.3% |
| Taxes, remuneration and social security | 45 | €89,786 | €113,602 | +€23,816 | +26.5% |
| Taxes | 450/3 | €49,029 | €49,852 | +€823 | +1.7% |
| Remuneration and social security | 454/9 | €40,757 | €63,750 | +€22,993 | +56.4% |
| Accrued charges and deferred income | 492/3 | €1,339 | €482 | -€857 | -64.0% |
| Remuneration, social security and pensions | 62 | €260,216 | €272,052 | +€11,836 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €143,447 | €151,702 | +€8,255 | +5.8% |
| Other operating charges | 640/8 | €12,014 | €11,424 | -€590 | -4.9% |
| Gross operating margin | 9900 | €437,021 | €523,520 | +€86,499 | +19.8% |
| Operating profit (loss) | 9901 | €21,344 | €88,342 | +€66,998 | +314% |
| Financial income | 75/76B | €8,645 | €10 | -€8,635 | -99.9% |
| Recurring financial income | 75 | €8,645 | €10 | -€8,635 | -99.9% |
| Financial charges | 65/66B | €54,685 | €67,790 | +€13,105 | +24.0% |
| Recurring financial charges | 65 | €54,685 | €67,790 | +€13,105 | +24.0% |
| Profit (loss) for the period before taxes | 9903 | -€24,696 | €20,562 | +€45,258 | |
| Income taxes | 67/77 | €259 | €9,209 | +€8,950 | +3,456% |
| Profit (loss) for the period | 9904 | -€24,955 | €11,353 | +€36,308 | |
| Profit (loss) for the period to be appropriated | 9905 | -€24,955 | €11,353 | +€36,308 |
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 14 October 2026 via checked.be.