MLS: 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.
MLS
Largest movements
- Cash +€218,335
up €218,335 (+21.4%), from €1.0m to €1.2m
mainly Net result for the year (+€285,320) and Tax, wage and social debts (+€47,872)
- Current investments +€115,469
up €115,469 (+86.2%), from €133,981 to €249,450
- Reserves +€287,090
up €287,090 (+25.5%), from €1.1m to €1.4m
- Tax, wage and social debts +€47,872
up €47,872 (+201.9%), from €23,715 to €71,587
of which Taxes: +€57,233
- Financial income +€113,983
up €113,983 (+889.0%), from €12,821 to €126,805
- Staff costs -€73,001
down €73,001 (-98.2%), from €74,317 to €1,317
- Taxes +€60,019
up €60,019 (+60.9%), from €98,631 to €158,651
- Gross operating margin -€51,103
down €51,103 (-13.1%), from €390,749 to €339,646
- Depreciation +€9,132
up €9,132 (+137.4%), from €6,646 to €15,778
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 | €1,194,521 | €1,524,987 | +€330,466 | +27.7% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €39,269 | €24,870 | -€14,399 | -36.7% |
| Tangible fixed assets | 22/27 | €39,269 | €24,870 | -€14,399 | -36.7% |
| Furniture and vehicles | 24 | €39,269 | €24,870 | -€14,399 | -36.7% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Current assets | 29/58 | €1,155,252 | €1,500,118 | +€344,865 | +29.9% |
| Amounts receivable within one year | 40/41 | €218 | €12,064 | +€11,846 | +5432.1% |
| Trade receivables | 40 | - | €10,000 | +€10,000 | |
| Other amounts receivable | 41 | €218 | €2,064 | +€1,846 | +846.5% |
| Current investments | 50/53 | €133,981 | €249,450 | +€115,469 | +86.2% |
| Cash at bank and in hand | 54/58 | €1,019,517 | €1,237,852 | +€218,335 | +21.4% |
| Deferred charges and accrued income | 490/1 | €1,537 | €751 | -€785 | -51.1% |
| Total equity and liabilities | 10/49 | €1,194,521 | €1,524,987 | +€330,466 | +27.7% |
| Equity | 10/15 | €1,167,018 | €1,452,338 | +€285,320 | +24.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,127,929 | €1,415,019 | +€287,090 | +25.5% |
| Distributable reserves | 133 | €1,127,929 | €1,415,019 | +€287,090 | +25.5% |
| Profit (loss) carried forward | 14 | €26,689 | €24,919 | -€1,769 | -6.6% |
| Amounts payable | 17/49 | €27,504 | €72,649 | +€45,146 | +164.1% |
| Amounts payable within one year | 42/48 | €27,504 | €72,649 | +€45,146 | +164.1% |
| Trade debts | 44 | €3,705 | €496 | -€3,209 | -86.6% |
| Suppliers | 440/4 | €3,705 | €496 | -€3,209 | -86.6% |
| Taxes, remuneration and social security | 45 | €23,715 | €71,587 | +€47,872 | +201.9% |
| Taxes | 450/3 | €14,354 | €71,587 | +€57,233 | +398.7% |
| Remuneration and social security | 454/9 | €9,362 | - | -€9,362 | |
| Other amounts payable | 47/48 | €83 | €566 | +€483 | +579.6% |
| Non-recurring operating income | 76A | €4,566 | - | -€4,566 | |
| Remuneration, social security and pensions | 62 | €74,317 | €1,317 | -€73,001 | -98.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,646 | €15,778 | +€9,132 | +137.4% |
| Other operating charges | 640/8 | €2,449 | €2,745 | +€296 | +12.1% |
| Gross operating margin | 9900 | €390,749 | €339,646 | -€51,103 | -13.1% |
| Operating profit (loss) | 9901 | €307,336 | €319,806 | +€12,470 | +4.1% |
| Financial income | 75/76B | €12,821 | €126,805 | +€113,983 | +889.0% |
| Recurring financial income | 75 | €12,821 | €126,805 | +€113,983 | +889.0% |
| Financial charges | 65/66B | €3,367 | €2,640 | -€727 | -21.6% |
| Recurring financial charges | 65 | €3,367 | €2,640 | -€727 | -21.6% |
| Profit (loss) for the period before taxes | 9903 | €316,790 | €443,971 | +€127,181 | +40.1% |
| Income taxes | 67/77 | €98,631 | €158,651 | +€60,019 | +60.9% |
| Profit (loss) for the period | 9904 | €218,159 | €285,320 | +€67,161 | +30.8% |
| Profit (loss) for the period to be appropriated | 9905 | €218,159 | €285,320 | +€67,161 | +30.8% |
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 12 October 2026 via checked.be.