MP: 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.
MP
Largest movements
- Tangible fixed assets -€18,150
down €18,150 (-2.4%), from €771,526 to €753,376
of which Land and buildings: -€26,969
- Cash -€10,212
down €10,212 (-19.3%), from €52,998 to €42,785
mainly Debts after one year (-€48,302) and Investment in fixed assets (net) (-€15,054)
- Intangible fixed assets -€10,000
down €10,000 (-40.0%), from €25,000 to €15,000
- Debts after one year -€48,302
down €48,302 (-8.1%), from €595,567 to €547,265
of which Financial debts: -€48,302
- Other debts -€10,594
down €10,594 (-13.0%), from €81,522 to €70,928
- Reserves +€10,590
up €10,590 (+15.4%), from €68,800 to €79,390
- Tax, wage and social debts -€9,728
down €9,728 (-40.3%), from €24,135 to €14,407
of which Taxes: -€7,105
- Gross operating margin -€48,939
down €48,939 (-16.2%), from €301,235 to €252,296
- Staff costs -€46,042
down €46,042 (-23.1%), from €199,359 to €153,317
- Financial charges +€8,219
up €8,219 (+54.1%), from €15,190 to €23,410
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 | €884,943 | €842,181 | -€42,762 | -4.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €799,526 | €771,376 | -€28,150 | -3.5% |
| Intangible fixed assets | 21 | €25,000 | €15,000 | -€10,000 | -40.0% |
| Tangible fixed assets | 22/27 | €771,526 | €753,376 | -€18,150 | -2.4% |
| Land and buildings | 22 | €754,982 | €728,013 | -€26,969 | -3.6% |
| Plant, machinery and equipment | 23 | €16,544 | €13,512 | -€3,031 | -18.3% |
| Other tangible fixed assets | 26 | - | €11,850 | +€11,850 | |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €85,417 | €70,806 | -€14,612 | -17.1% |
| Stocks and contracts in progress | 3 | €3,313 | €2,329 | -€984 | -29.7% |
| Stocks | 30/36 | €3,313 | €2,329 | -€984 | -29.7% |
| Amounts receivable within one year | 40/41 | €28,554 | €24,983 | -€3,571 | -12.5% |
| Trade receivables | 40 | €21,808 | €23,974 | +€2,166 | +9.9% |
| Other amounts receivable | 41 | €6,746 | €1,009 | -€5,737 | -85.0% |
| Cash at bank and in hand | 54/58 | €52,998 | €42,785 | -€10,212 | -19.3% |
| Deferred charges and accrued income | 490/1 | €553 | €708 | +€156 | +28.2% |
| Total equity and liabilities | 10/49 | €884,943 | €842,181 | -€42,762 | -4.8% |
| Equity | 10/15 | €134,364 | €144,955 | +€10,592 | +7.9% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €68,800 | €79,390 | +€10,590 | +15.4% |
| Distributable reserves | 133 | €68,800 | €79,390 | +€10,590 | +15.4% |
| Profit (loss) carried forward | 14 | €564 | €565 | +€2 | +0.3% |
| Amounts payable | 17/49 | €750,580 | €697,226 | -€53,353 | -7.1% |
| Amounts payable after more than one year | 17 | €595,567 | €547,265 | -€48,302 | -8.1% |
| Financial debts | 170/4 | €590,592 | €542,290 | -€48,302 | -8.2% |
| Other amounts payable | 178/9 | €4,975 | €4,975 | = | 0.0% |
| Amounts payable within one year | 42/48 | €155,013 | €149,962 | -€5,051 | -3.3% |
| Current portion of amounts payable after more than one year | 42 | €40,563 | €48,302 | +€7,739 | +19.1% |
| Financial debts | 43 | - | €3,370 | +€3,370 | |
| Credit institutions | 430/8 | - | €3,370 | +€3,370 | |
| Trade debts | 44 | €8,792 | €12,955 | +€4,163 | +47.3% |
| Suppliers | 440/4 | €8,792 | €12,955 | +€4,163 | +47.3% |
| Taxes, remuneration and social security | 45 | €24,135 | €14,407 | -€9,728 | -40.3% |
| Taxes | 450/3 | €9,242 | €2,137 | -€7,105 | -76.9% |
| Remuneration and social security | 454/9 | €14,893 | €12,270 | -€2,623 | -17.6% |
| Other amounts payable | 47/48 | €81,522 | €70,928 | -€10,594 | -13.0% |
| Remuneration, social security and pensions | 62 | €199,359 | €153,317 | -€46,042 | -23.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,054 | €43,204 | +€1,150 | +2.7% |
| Other operating charges | 640/8 | €6,368 | €6,095 | -€273 | -4.3% |
| Gross operating margin | 9900 | €301,235 | €252,296 | -€48,939 | -16.2% |
| Operating profit (loss) | 9901 | €53,454 | €49,680 | -€3,774 | -7.1% |
| Financial income | 75/76B | €8 | €58 | +€51 | +662.4% |
| Recurring financial income | 75 | €8 | €58 | +€51 | +662.4% |
| Financial charges | 65/66B | €15,190 | €23,410 | +€8,219 | +54.1% |
| Recurring financial charges | 65 | €15,190 | €23,410 | +€8,219 | +54.1% |
| Profit (loss) for the period before taxes | 9903 | €38,271 | €26,328 | -€11,943 | -31.2% |
| Income taxes | 67/77 | €13,206 | €15,737 | +€2,531 | +19.2% |
| Profit (loss) for the period | 9904 | €25,065 | €10,592 | -€14,473 | -57.7% |
| Profit (loss) for the period to be appropriated | 9905 | €25,065 | €10,592 | -€14,473 | -57.7% |
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 6 October 2026 via checked.be.