MLS: 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.
MLS
Largest movements
- Stocks and contracts -€28,656
down €28,656 (-16.2%), from €176,966 to €148,310
- Cash +€25,144
up €25,144 (+2442.9%), from €1,029 to €26,174
mainly Stocks and contracts (+€28,656) and Short-term financial debts (+€3,095)
- Receivables within one year +€6,177
up €6,177 (+264.6%), from €2,334 to €8,511
- Other debts -€3,583
no longer reported in 2025 (was €3,583)
- Short-term financial debts +€3,095
up €3,095 (+53.0%), from €5,842 to €8,937
- Tax, wage and social debts +€2,930
up €2,930 (+172.3%), from €1,700 to €4,630
of which Taxes: +€4,630
- Profit (loss) carried forward +€2,118
up €2,118 (+1.5%), from €137,485 to €139,603
- Trade debts -€1,909
down €1,909 (-66.8%), from €2,860 to €950
- Taxes -€13,003
down €13,003 (-94.0%), from €13,830 to €827
- Turnover -€12,190
down €12,190 (-4.1%), from €294,755 to €282,565
- Purchases and services -€7,305
down €7,305 (-2.5%), from €295,811 to €288,506
- Gross operating margin +€5,564
up €5,564 (+189.0%), from €2,944 to €8,509
- Other operating charges +€3,560
up €3,560 (+747.8%), from €476 to €4,036
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 | €180,392 | €183,042 | +€2,650 | +1.5% |
| Fixed assets | 21/28 | €63 | €43 | -€20 | -32.0% |
| Tangible fixed assets | 22/27 | €20 | - | -€20 | |
| Plant, machinery and equipment | 23 | €20 | - | -€20 | |
| Financial fixed assets | 28 | €43 | €43 | = | 0.0% |
| Current assets | 29/58 | €180,329 | €182,999 | +€2,670 | +1.5% |
| Stocks and contracts in progress | 3 | €176,966 | €148,310 | -€28,656 | -16.2% |
| Stocks | 30/36 | €176,966 | €148,310 | -€28,656 | -16.2% |
| Amounts receivable within one year | 40/41 | €2,334 | €8,511 | +€6,177 | +264.6% |
| Other amounts receivable | 41 | €2,334 | €8,511 | +€6,177 | +264.6% |
| Cash at bank and in hand | 54/58 | €1,029 | €26,174 | +€25,144 | +2442.9% |
| Deferred charges and accrued income | 490/1 | - | €5 | +€5 | |
| Total equity and liabilities | 10/49 | €180,392 | €183,042 | +€2,650 | +1.5% |
| Equity | 10/15 | €166,407 | €168,525 | +€2,118 | +1.3% |
| Contributions | 10/11 | €16,420 | €16,420 | = | 0.0% |
| Reserves | 13 | €12,502 | €12,502 | = | 0.0% |
| 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 | €10,642 | €10,642 | = | 0.0% |
| Profit (loss) carried forward | 14 | €137,485 | €139,603 | +€2,118 | +1.5% |
| Amounts payable | 17/49 | €13,985 | €14,517 | +€532 | +3.8% |
| Amounts payable within one year | 42/48 | €13,985 | €14,517 | +€532 | +3.8% |
| Financial debts | 43 | €5,842 | €8,937 | +€3,095 | +53.0% |
| Credit institutions | 430/8 | €5,842 | €8,937 | +€3,095 | +53.0% |
| Trade debts | 44 | €2,860 | €950 | -€1,909 | -66.8% |
| Suppliers | 440/4 | €2,860 | €950 | -€1,909 | -66.8% |
| Taxes, remuneration and social security | 45 | €1,700 | €4,630 | +€2,930 | +172.3% |
| Taxes | 450/3 | - | €4,630 | +€4,630 | |
| Remuneration and social security | 454/9 | €1,700 | - | -€1,700 | |
| Other amounts payable | 47/48 | €3,583 | - | -€3,583 | |
| Turnover | 70 | €294,755 | €282,565 | -€12,190 | -4.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €295,811 | €288,506 | -€7,305 | -2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €270 | €20 | -€250 | -92.6% |
| Other operating charges | 640/8 | €476 | €4,036 | +€3,560 | +747.8% |
| Gross operating margin | 9900 | €2,944 | €8,509 | +€5,564 | +189.0% |
| Operating profit (loss) | 9901 | €2,198 | €4,453 | +€2,255 | +102.6% |
| Financial charges | 65/66B | €1,576 | €1,508 | -€69 | -4.3% |
| Recurring financial charges | 65 | €1,576 | €1,508 | -€69 | -4.3% |
| Profit (loss) for the period before taxes | 9903 | €622 | €2,945 | +€2,323 | +373.6% |
| Income taxes | 67/77 | €13,830 | €827 | -€13,003 | -94.0% |
| Profit (loss) for the period | 9904 | -€13,208 | €2,118 | +€15,326 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,208 | €2,118 | +€15,326 |
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 28 September 2026 via checked.be.