MLWM: 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.
MLWM
Largest movements
- Receivables within one year +€5,227
up €5,227 (+46.2%), from €11,306 to €16,533
of which Other amounts receivable: +€3,511
- Stocks and contracts -€3,583
no longer reported in 2025 (was €3,583)
- Tangible fixed assets +€3,375
up €3,375 (+59.5%), from €5,669 to €9,044
of which Leasing and similar rights: +€8,159
- Cash +€1,098
up €1,098 (+163.6%), from €672 to €1,770
mainly Depreciation (+€6,680) and Other debts (+€5,833)
- Profit (loss) carried forward -€6,632
down €6,632 (-54.6%), from €12,142 to €5,510
- Other debts +€5,833
new in 2025: €5,833
- Current portion of long-term debt +€4,446
new in 2025: €4,446
- Debts after one year +€1,492
new in 2025: €1,492
- Tax, wage and social debts +€1,055
up €1,055 (+18.2%), from €5,780 to €6,834
- Gross operating margin +€6,281
up €6,281 (+139.5%), from €4,502 to €10,783
- Taxes -€4,371
down €4,371 (-60.1%), from €7,269 to €2,898
- Depreciation +€4,343
up €4,343 (+185.8%), from €2,337 to €6,680
- Other operating charges -€1,076
down €1,076 (-38.4%), from €2,799 to €1,723
- Financial charges -€378
down €378 (-57.3%), from €660 to €282
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 | €22,205 | €28,129 | +€5,924 | +26.7% |
| Fixed assets | 21/28 | €5,669 | €9,044 | +€3,375 | +59.5% |
| Tangible fixed assets | 22/27 | €5,669 | €9,044 | +€3,375 | +59.5% |
| Plant, machinery and equipment | 23 | €24 | - | -€24 | |
| Furniture and vehicles | 24 | €5,645 | €885 | -€4,760 | -84.3% |
| Leasing and similar rights | 25 | - | €8,159 | +€8,159 | |
| Current assets | 29/58 | €16,536 | €19,085 | +€2,549 | +15.4% |
| Stocks and contracts in progress | 3 | €3,583 | - | -€3,583 | |
| Stocks | 30/36 | €3,583 | - | -€3,583 | |
| Amounts receivable within one year | 40/41 | €11,306 | €16,533 | +€5,227 | +46.2% |
| Trade receivables | 40 | €5,075 | €6,790 | +€1,716 | +33.8% |
| Other amounts receivable | 41 | €6,231 | €9,743 | +€3,511 | +56.3% |
| Cash at bank and in hand | 54/58 | €672 | €1,770 | +€1,098 | +163.6% |
| Deferred charges and accrued income | 490/1 | €975 | €782 | -€193 | -19.8% |
| Total equity and liabilities | 10/49 | €22,205 | €28,129 | +€5,924 | +26.7% |
| Equity | 10/15 | €14,142 | €7,510 | -€6,632 | -46.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,142 | €5,510 | -€6,632 | -54.6% |
| Amounts payable | 17/49 | €8,063 | €20,619 | +€12,556 | +155.7% |
| Amounts payable after more than one year | 17 | - | €1,492 | +€1,492 | |
| Financial debts | 170/4 | - | €1,492 | +€1,492 | |
| Amounts payable within one year | 42/48 | €8,063 | €19,127 | +€11,065 | +137.2% |
| Current portion of amounts payable after more than one year | 42 | - | €4,446 | +€4,446 | |
| Trade debts | 44 | €2,283 | €2,014 | -€269 | -11.8% |
| Suppliers | 440/4 | €2,283 | €2,014 | -€269 | -11.8% |
| Taxes, remuneration and social security | 45 | €5,780 | €6,834 | +€1,055 | +18.2% |
| Taxes | 450/3 | €5,780 | €6,834 | +€1,055 | +18.2% |
| Other amounts payable | 47/48 | - | €5,833 | +€5,833 | |
| Non-recurring operating income | 76A | €1,185 | - | -€1,185 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,337 | €6,680 | +€4,343 | +185.8% |
| Other operating charges | 640/8 | €2,799 | €1,723 | -€1,076 | -38.4% |
| Gross operating margin | 9900 | €4,502 | €10,783 | +€6,281 | +139.5% |
| Operating profit (loss) | 9901 | -€635 | €2,380 | +€3,015 | |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €660 | €282 | -€378 | -57.3% |
| Recurring financial charges | 65 | €660 | €282 | -€378 | -57.3% |
| Profit (loss) for the period before taxes | 9903 | -€1,294 | €2,099 | +€3,393 | |
| Income taxes | 67/77 | €7,269 | €2,898 | -€4,371 | -60.1% |
| Profit (loss) for the period | 9904 | -€8,564 | -€799 | +€7,764 | +90.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,564 | -€799 | +€7,764 | +90.7% |
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 2 October 2026 via checked.be.