MnC: what changed
MnC
Largest movements
- Receivables within one year +€459,750
up €459,750 (+211%), from €218,330 to €678,079
of which Trade receivables: +€463,687
- Stocks and contracts -€234,825
down €234,825 (-50.4%), from €465,619 to €230,794
- Tangible fixed assets -€28,910
down €28,910 (-9.6%), from €301,552 to €272,642
of which Land and buildings: -€24,227
- Current portion of long-term debt +€445,390
up €445,390 (+1,078%), from €41,315 to €486,705
- Debts after one year -€358,213
down €358,213 (-70.0%), from €511,925 to €153,712
- Other debts +€100,436
up €100,436 (+71.7%), from €140,039 to €240,475
- Tax, wage and social debts +€61,781
up €61,781 (+244%), from €25,285 to €87,066
of which Taxes: +€80,635
- Trade debts -€60,116
down €60,116 (-92.8%), from €64,766 to €4,650
- Staff costs -€60,223
no longer reported in 2025 (was €60,223)
- Gross operating margin -€49,619
down €49,619 (-37.8%), from €131,429 to €81,811
- Other operating charges -€9,790
down €9,790 (-79.9%), from €12,255 to €2,465
- Financial charges +€9,634
up €9,634 (+47.0%), from €20,484 to €30,117
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €989,106 | €1,186,819 | +€197,713 | +20.0% |
| Fixed assets | 21/28 | €301,552 | €272,642 | -€28,910 | -9.6% |
| Tangible fixed assets | 22/27 | €301,552 | €272,642 | -€28,910 | -9.6% |
| Land and buildings | 22 | €289,456 | €265,229 | -€24,227 | -8.4% |
| Furniture and vehicles | 24 | €12,096 | €7,413 | -€4,683 | -38.7% |
| Current assets | 29/58 | €687,555 | €914,177 | +€226,623 | +33.0% |
| Stocks and contracts in progress | 3 | €465,619 | €230,794 | -€234,825 | -50.4% |
| Stocks | 30/36 | €465,619 | €230,794 | -€234,825 | -50.4% |
| Amounts receivable within one year | 40/41 | €218,330 | €678,079 | +€459,750 | +211% |
| Trade receivables | 40 | €145,981 | €609,669 | +€463,687 | +318% |
| Other amounts receivable | 41 | €72,348 | €68,411 | -€3,938 | -5.4% |
| Cash at bank and in hand | 54/58 | €2,206 | €3,904 | +€1,698 | +77.0% |
| Deferred charges and accrued income | 490/1 | €1,400 | €1,400 | = | 0.0% |
| Total equity and liabilities | 10/49 | €989,106 | €1,186,819 | +€197,713 | +20.0% |
| Equity | 10/15 | €193,153 | €213,472 | +€20,319 | +10.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €172,693 | €193,012 | +€20,319 | +11.8% |
| Amounts payable | 17/49 | €795,953 | €973,347 | +€177,394 | +22.3% |
| Amounts payable after more than one year | 17 | €511,925 | €153,712 | -€358,213 | -70.0% |
| Financial debts | 170/4 | €511,925 | €153,712 | -€358,213 | -70.0% |
| Amounts payable within one year | 42/48 | €283,503 | €819,111 | +€535,607 | +189% |
| Current portion of amounts payable after more than one year | 42 | €41,315 | €486,705 | +€445,390 | +1,078% |
| Financial debts | 43 | €12,098 | €214 | -€11,883 | -98.2% |
| Credit institutions | 430/8 | €12,098 | €214 | -€11,883 | -98.2% |
| Trade debts | 44 | €64,766 | €4,650 | -€60,116 | -92.8% |
| Suppliers | 440/4 | €64,766 | €4,650 | -€60,116 | -92.8% |
| Taxes, remuneration and social security | 45 | €25,285 | €87,066 | +€61,781 | +244% |
| Taxes | 450/3 | €6,432 | €87,066 | +€80,635 | +1,254% |
| Remuneration and social security | 454/9 | €18,854 | - | -€18,854 | |
| Other amounts payable | 47/48 | €140,039 | €240,475 | +€100,436 | +71.7% |
| Accrued charges and deferred income | 492/3 | €525 | €525 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €60,223 | - | -€60,223 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,427 | €28,910 | +€483 | +1.7% |
| Other operating charges | 640/8 | €12,255 | €2,465 | -€9,790 | -79.9% |
| Gross operating margin | 9900 | €131,429 | €81,811 | -€49,619 | -37.8% |
| Operating profit (loss) | 9901 | €30,525 | €50,436 | +€19,911 | +65.2% |
| Financial charges | 65/66B | €20,484 | €30,117 | +€9,634 | +47.0% |
| Recurring financial charges | 65 | €20,484 | €30,117 | +€9,634 | +47.0% |
| Profit (loss) for the period before taxes | 9903 | €10,042 | €20,319 | +€10,277 | +102% |
| Profit (loss) for the period | 9904 | €10,042 | €20,319 | +€10,277 | +102% |
| Profit (loss) for the period to be appropriated | 9905 | €10,042 | €20,319 | +€10,277 | +102% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.