MLSC: 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.
MLSC
Largest movements
- Tangible fixed assets -€78,404
down €78,404 (-96.3%), from €81,405 to €3,000
of which Land and buildings: -€80,645
- Stocks and contracts -€30,000
no longer reported in 2025 (was €30,000)
- Receivables within one year +€6,441
up €6,441 (+22.5%), from €28,689 to €35,130
of which Other amounts receivable: +€5,845
- Cash +€2,831
up €2,831 (+14.1%), from €20,104 to €22,935
mainly Investment in fixed assets (net) (+€77,705) and Stocks and contracts (+€30,000)
- Debts after one year -€76,557
down €76,557 (-29.1%), from €262,710 to €186,153
- Current portion of long-term debt -€17,247
down €17,247 (-51.0%), from €33,804 to €16,557
- Profit (loss) carried forward -€12,729
down €12,729 (-4.1%), from -€309,497 to -€322,226
- Other debts +€6,296
up €6,296 (+16.0%), from €39,341 to €45,637
- Gross operating margin +€85,252
up €85,252 (+92.8%), from -€91,904 to -€6,652
- Depreciation -€26,776
down €26,776 (-97.5%), from €27,476 to €699
- Taxes -€10,012
down €10,012 (-93.6%), from €10,701 to €689
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 | €160,198 | €61,065 | -€99,133 | -61.9% |
| Fixed assets | 21/28 | €81,405 | €3,000 | -€78,404 | -96.3% |
| Tangible fixed assets | 22/27 | €81,405 | €3,000 | -€78,404 | -96.3% |
| Land and buildings | 22 | €80,645 | - | -€80,645 | |
| Furniture and vehicles | 24 | €760 | €3,000 | +€2,240 | +295% |
| Current assets | 29/58 | €78,793 | €58,065 | -€20,728 | -26.3% |
| Stocks and contracts in progress | 3 | €30,000 | - | -€30,000 | |
| Stocks | 30/36 | €30,000 | - | -€30,000 | |
| Amounts receivable within one year | 40/41 | €28,689 | €35,130 | +€6,441 | +22.5% |
| Trade receivables | 40 | €27,386 | €27,982 | +€596 | +2.2% |
| Other amounts receivable | 41 | €1,303 | €7,147 | +€5,845 | +449% |
| Cash at bank and in hand | 54/58 | €20,104 | €22,935 | +€2,831 | +14.1% |
| Total equity and liabilities | 10/49 | €160,198 | €61,065 | -€99,133 | -61.9% |
| Equity | 10/15 | -€190,897 | -€203,626 | -€12,729 | -6.7% |
| Contributions | 10/11 | €118,600 | €118,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€309,497 | -€322,226 | -€12,729 | -4.1% |
| Amounts payable | 17/49 | €351,095 | €264,691 | -€86,403 | -24.6% |
| Amounts payable after more than one year | 17 | €262,710 | €186,153 | -€76,557 | -29.1% |
| Financial debts | 170/4 | €262,710 | €186,153 | -€76,557 | -29.1% |
| Amounts payable within one year | 42/48 | €88,385 | €78,539 | -€9,846 | -11.1% |
| Current portion of amounts payable after more than one year | 42 | €33,804 | €16,557 | -€17,247 | -51.0% |
| Trade debts | 44 | €15,241 | €16,345 | +€1,105 | +7.2% |
| Suppliers | 440/4 | €15,241 | €16,345 | +€1,105 | +7.2% |
| Other amounts payable | 47/48 | €39,341 | €45,637 | +€6,296 | +16.0% |
| Remuneration, social security and pensions | 62 | €387 | €400 | +€12 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,476 | €699 | -€26,776 | -97.5% |
| Other operating charges | 640/8 | €427 | €144 | -€283 | -66.2% |
| Gross operating margin | 9900 | -€91,904 | -€6,652 | +€85,252 | +92.8% |
| Operating profit (loss) | 9901 | -€120,194 | -€7,895 | +€112,299 | +93.4% |
| Financial charges | 65/66B | €3,553 | €4,145 | +€591 | +16.6% |
| Recurring financial charges | 65 | €3,553 | €4,145 | +€591 | +16.6% |
| Profit (loss) for the period before taxes | 9903 | -€123,748 | -€12,040 | +€111,708 | +90.3% |
| Income taxes | 67/77 | €10,701 | €689 | -€10,012 | -93.6% |
| Profit (loss) for the period | 9904 | -€134,449 | -€12,729 | +€121,720 | +90.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€134,449 | -€12,729 | +€121,720 | +90.5% |
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 16 October 2026 via checked.be.