MLC TECHNIQUE: 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.
MLC TECHNIQUE
Largest movements
- Tangible fixed assets +€1.2m
up €1.2m (+1916.4%), from €61,017 to €1.2m
of which Land and buildings: +€1.1m
- Cash -€155,211
down €155,211 (-28.7%), from €539,993 to €384,783
mainly Investment in fixed assets (net) (-€1.2m) and Receivables within one year (-€153,390)
- Receivables within one year +€153,390
up €153,390 (+86.2%), from €177,864 to €331,254
of which Trade receivables: +€143,894
- Stocks and contracts +€47,468
up €47,468 (+114.0%), from €41,648 to €89,116
- Debts after one year +€868,837
up €868,837 (+84772.0%), from €1,025 to €869,862
- Reserves +€181,252
up €181,252 (+22.6%), from €803,003 to €984,255
- Trade debts +€116,441
up €116,441 (+87.2%), from €133,473 to €249,915
- Current portion of long-term debt +€46,076
up €46,076 (+756.6%), from €6,090 to €52,166
- Gross operating margin +€236,384
up €236,384 (+46.0%), from €513,448 to €749,833
- Staff costs +€100,332
up €100,332 (+34.0%), from €295,317 to €395,650
- Depreciation +€55,916
up €55,916 (+247.7%), from €22,575 to €78,491
- Financial charges +€19,882
up €19,882 (+302.2%), from €6,578 to €26,461
- Taxes +€10,527
up €10,527 (+23.9%), from €44,067 to €54,594
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 | €1,032,429 | €2,257,592 | +€1.2m | +118.7% |
| Fixed assets | 21/28 | €61,380 | €1,230,672 | +€1.2m | +1905.0% |
| Tangible fixed assets | 22/27 | €61,017 | €1,230,309 | +€1.2m | +1916.4% |
| Land and buildings | 22 | €17,749 | €1,102,736 | +€1.1m | +6113.0% |
| Plant, machinery and equipment | 23 | €30,065 | €97,967 | +€67,902 | +225.8% |
| Furniture and vehicles | 24 | €13,202 | €29,607 | +€16,404 | +124.3% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €971,050 | €1,026,920 | +€55,870 | +5.8% |
| Stocks and contracts in progress | 3 | €41,648 | €89,116 | +€47,468 | +114.0% |
| Stocks | 30/36 | €41,648 | €89,116 | +€47,468 | +114.0% |
| Amounts receivable within one year | 40/41 | €177,864 | €331,254 | +€153,390 | +86.2% |
| Trade receivables | 40 | €148,662 | €292,556 | +€143,894 | +96.8% |
| Other amounts receivable | 41 | €29,202 | €38,698 | +€9,496 | +32.5% |
| Current investments | 50/53 | €201,272 | €204,000 | +€2,728 | +1.4% |
| Cash at bank and in hand | 54/58 | €539,993 | €384,783 | -€155,211 | -28.7% |
| Deferred charges and accrued income | 490/1 | €10,273 | €17,767 | +€7,494 | +73.0% |
| Total equity and liabilities | 10/49 | €1,032,429 | €2,257,592 | +€1.2m | +118.7% |
| Equity | 10/15 | €821,603 | €1,002,855 | +€181,252 | +22.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €803,003 | €984,255 | +€181,252 | +22.6% |
| Distributable reserves | 133 | €803,003 | €984,255 | +€181,252 | +22.6% |
| Amounts payable | 17/49 | €210,826 | €1,254,737 | +€1.0m | +495.2% |
| Amounts payable after more than one year | 17 | €1,025 | €869,862 | +€868,837 | +84772.0% |
| Financial debts | 170/4 | €1,025 | €869,862 | +€868,837 | +84772.0% |
| Amounts payable within one year | 42/48 | €209,802 | €382,203 | +€172,401 | +82.2% |
| Current portion of amounts payable after more than one year | 42 | €6,090 | €52,166 | +€46,076 | +756.6% |
| Trade debts | 44 | €133,473 | €249,915 | +€116,441 | +87.2% |
| Suppliers | 440/4 | €133,473 | €249,915 | +€116,441 | +87.2% |
| Taxes, remuneration and social security | 45 | €14,945 | €29,298 | +€14,353 | +96.0% |
| Taxes | 450/3 | €9,511 | €26,744 | +€17,233 | +181.2% |
| Remuneration and social security | 454/9 | €5,434 | €2,554 | -€2,880 | -53.0% |
| Other amounts payable | 47/48 | €55,293 | €50,824 | -€4,469 | -8.1% |
| Accrued charges and deferred income | 492/3 | - | €2,673 | +€2,673 | |
| Remuneration, social security and pensions | 62 | €295,317 | €395,650 | +€100,332 | +34.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,575 | €78,491 | +€55,916 | +247.7% |
| Other operating charges | 640/8 | €3,822 | €7,056 | +€3,234 | +84.6% |
| Non-recurring operating charges | 66A | - | €15,238 | +€15,238 | |
| Gross operating margin | 9900 | €513,448 | €749,833 | +€236,384 | +46.0% |
| Operating profit (loss) | 9901 | €191,735 | €253,398 | +€61,663 | +32.2% |
| Financial income | 75/76B | €2,349 | €8,908 | +€6,559 | +279.2% |
| Recurring financial income | 75 | €2,349 | €8,908 | +€6,559 | +279.2% |
| Financial charges | 65/66B | €6,578 | €26,461 | +€19,882 | +302.2% |
| Recurring financial charges | 65 | €6,578 | €26,461 | +€19,882 | +302.2% |
| Profit (loss) for the period before taxes | 9903 | €187,506 | €235,845 | +€48,340 | +25.8% |
| Income taxes | 67/77 | €44,067 | €54,594 | +€10,527 | +23.9% |
| Profit (loss) for the period | 9904 | €143,439 | €181,252 | +€37,813 | +26.4% |
| Profit (loss) for the period to be appropriated | 9905 | €143,439 | €181,252 | +€37,813 | +26.4% |
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 4 October 2026 via checked.be.