MLV26: 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.
MLV26
Largest movements
- Cash +€46,042
up €46,042 (+369%), from €12,463 to €58,505
mainly Net result for the year (+€58,899) and Depreciation (+€1,700)
- Receivables within one year +€3,125
up €3,125 (+1.7%), from €185,650 to €188,775
of which Trade receivables: +€4,610
- Reserves +€58,899
up €58,899 (+35.9%), from €163,934 to €222,833
of which Distributable reserves: +€37,849
- Tax, wage and social debts -€9,343
down €9,343 (-29.2%), from €32,050 to €22,707
- Gross operating margin +€35,113
up €35,113 (+52.0%), from €67,578 to €102,691
- Taxes +€14,708
up €14,708 (+61.0%), from €24,101 to €38,809
- Financial charges +€2,049
up €2,049 (+219%), from €936 to €2,985
- Financial income +€1,306
up €1,306 (+251%), from €520 to €1,826
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 | €236,797 | €284,540 | +€47,743 | +20.2% |
| Fixed assets | 21/28 | €36,446 | €34,746 | -€1,700 | -4.7% |
| Tangible fixed assets | 22/27 | €36,446 | €34,746 | -€1,700 | -4.7% |
| Furniture and vehicles | 24 | €36,446 | €34,746 | -€1,700 | -4.7% |
| Current assets | 29/58 | €200,350 | €249,793 | +€49,443 | +24.7% |
| Amounts receivable within one year | 40/41 | €185,650 | €188,775 | +€3,125 | +1.7% |
| Trade receivables | 40 | €184,150 | €188,760 | +€4,610 | +2.5% |
| Other amounts receivable | 41 | €1,500 | €15 | -€1,485 | -99.0% |
| Cash at bank and in hand | 54/58 | €12,463 | €58,505 | +€46,042 | +369% |
| Deferred charges and accrued income | 490/1 | €2,237 | €2,514 | +€276 | +12.3% |
| Total equity and liabilities | 10/49 | €236,797 | €284,540 | +€47,743 | +20.2% |
| Equity | 10/15 | €182,534 | €241,433 | +€58,899 | +32.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €163,934 | €222,833 | +€58,899 | +35.9% |
| Tax-exempt reserves | 132 | €92,620 | €113,670 | +€21,050 | +22.7% |
| Distributable reserves | 133 | €71,314 | €109,163 | +€37,849 | +53.1% |
| Amounts payable | 17/49 | €54,263 | €43,107 | -€11,156 | -20.6% |
| Amounts payable after more than one year | 17 | €8,738 | €6,735 | -€2,002 | -22.9% |
| Other amounts payable | 178/9 | €8,738 | €6,735 | -€2,002 | -22.9% |
| Amounts payable within one year | 42/48 | €45,525 | €36,372 | -€9,153 | -20.1% |
| Financial debts | 43 | €7,713 | €7,743 | +€31 | +0.4% |
| Credit institutions | 430/8 | €7,713 | €7,743 | +€31 | +0.4% |
| Trade debts | 44 | €5,763 | €5,921 | +€159 | +2.8% |
| Suppliers | 440/4 | €5,763 | €5,921 | +€159 | +2.8% |
| Taxes, remuneration and social security | 45 | €32,050 | €22,707 | -€9,343 | -29.2% |
| Taxes | 450/3 | €32,050 | €22,707 | -€9,343 | -29.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,700 | €1,700 | = | 0.0% |
| Other operating charges | 640/8 | €2,064 | €2,124 | +€60 | +2.9% |
| Gross operating margin | 9900 | €67,578 | €102,691 | +€35,113 | +52.0% |
| Operating profit (loss) | 9901 | €63,814 | €98,867 | +€35,053 | +54.9% |
| Financial income | 75/76B | €520 | €1,826 | +€1,306 | +251% |
| Recurring financial income | 75 | €520 | €1,826 | +€1,306 | +251% |
| Financial charges | 65/66B | €936 | €2,985 | +€2,049 | +219% |
| Recurring financial charges | 65 | €936 | €2,985 | +€2,049 | +219% |
| Profit (loss) for the period before taxes | 9903 | €63,398 | €97,708 | +€34,310 | +54.1% |
| Income taxes | 67/77 | €24,101 | €38,809 | +€14,708 | +61.0% |
| Profit (loss) for the period | 9904 | €39,297 | €58,899 | +€19,602 | +49.9% |
| Transfer to tax-exempt reserves | 689 | €31,575 | €21,050 | -€10,525 | -33.3% |
| Profit (loss) for the period to be appropriated | 9905 | €7,722 | €37,849 | +€30,127 | +390% |
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 13 October 2026 via checked.be.