Mpace: 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.
Mpace
Largest movements
- Current investments -€124,062
down €124,062 (-40.3%), from €307,699 to €183,637
- Cash -€74,133
down €74,133 (-52.0%), from €142,476 to €68,344
mainly Contributions, distributions and other (-€360,000) and Receivables within one year (-€10,269)
- Receivables within one year +€10,269
up €10,269 (+81.9%), from €12,544 to €22,814
of which Trade receivables: +€10,285
- Reserves -€212,487
down €212,487 (-57.8%), from €367,417 to €154,930
- Tax, wage and social debts +€16,000
up €16,000 (+92.2%), from €17,360 to €33,360
of which Taxes: +€16,000
- Other debts +€8,469
up €8,469 (+13.4%), from €63,100 to €71,569
- Financial income +€70,331
up €70,331 (+1,897%), from €3,707 to €74,038
of which Financial income: +€70,331
- Gross operating margin +€23,037
up €23,037 (+26.0%), from €88,696 to €111,732
- Taxes +€17,728
up €17,728 (+96.2%), from €18,432 to €36,160
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 | €468,777 | €281,999 | -€186,779 | -39.8% |
| Fixed assets | 21/28 | €5,845 | €7,054 | +€1,210 | +20.7% |
| Tangible fixed assets | 22/27 | €5,845 | €7,054 | +€1,210 | +20.7% |
| Plant, machinery and equipment | 23 | €1,437 | €723 | -€714 | -49.7% |
| Furniture and vehicles | 24 | €3,944 | €6,212 | +€2,268 | +57.5% |
| Other tangible fixed assets | 26 | €463 | €119 | -€345 | -74.3% |
| Current assets | 29/58 | €462,933 | €274,945 | -€187,988 | -40.6% |
| Amounts receivable within one year | 40/41 | €12,544 | €22,814 | +€10,269 | +81.9% |
| Trade receivables | 40 | €12,342 | €22,627 | +€10,285 | +83.3% |
| Other amounts receivable | 41 | €202 | €187 | -€16 | -7.8% |
| Current investments | 50/53 | €307,699 | €183,637 | -€124,062 | -40.3% |
| Cash at bank and in hand | 54/58 | €142,476 | €68,344 | -€74,133 | -52.0% |
| Deferred charges and accrued income | 490/1 | €213 | €150 | -€62 | -29.4% |
| Total equity and liabilities | 10/49 | €468,777 | €281,999 | -€186,779 | -39.8% |
| Equity | 10/15 | €387,877 | €173,530 | -€214,347 | -55.3% |
| Contributions | 10/11 | €20,460 | €18,600 | -€1,860 | -9.1% |
| Reserves | 13 | €367,417 | €154,930 | -€212,487 | -57.8% |
| Distributable reserves | 133 | €367,417 | €154,930 | -€212,487 | -57.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €80,900 | €108,469 | +€27,569 | +34.1% |
| Amounts payable within one year | 42/48 | €80,900 | €108,469 | +€27,569 | +34.1% |
| Financial debts | 43 | €251 | €2,230 | +€1,979 | +788% |
| Credit institutions | 430/8 | €251 | €2,230 | +€1,979 | +788% |
| Trade debts | 44 | €189 | €1,310 | +€1,121 | +593% |
| Suppliers | 440/4 | €189 | €1,310 | +€1,121 | +593% |
| Taxes, remuneration and social security | 45 | €17,360 | €33,360 | +€16,000 | +92.2% |
| Taxes | 450/3 | €14,337 | €30,337 | +€16,000 | +112% |
| Remuneration and social security | 454/9 | €3,023 | €3,023 | = | 0.0% |
| Other amounts payable | 47/48 | €63,100 | €71,569 | +€8,469 | +13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,910 | €3,364 | -€546 | -14.0% |
| Other operating charges | 640/8 | €398 | €400 | +€2 | +0.5% |
| Gross operating margin | 9900 | €88,696 | €111,732 | +€23,037 | +26.0% |
| Operating profit (loss) | 9901 | €84,388 | €107,968 | +€23,580 | +27.9% |
| Financial income | 75/76B | €3,707 | €74,038 | +€70,331 | +1,897% |
| Recurring financial income | 75 | €3,707 | €74,038 | +€70,331 | +1,897% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €72 | €194 | +€121 | +168% |
| Recurring financial charges | 65 | €72 | €194 | +€121 | +168% |
| Profit (loss) for the period before taxes | 9903 | €88,023 | €181,813 | +€93,790 | +107% |
| Income taxes | 67/77 | €18,432 | €36,160 | +€17,728 | +96.2% |
| Profit (loss) for the period | 9904 | €69,591 | €145,653 | +€76,062 | +109% |
| Profit (loss) for the period to be appropriated | 9905 | €69,591 | €145,653 | +€76,062 | +109% |
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 15 October 2026 via checked.be.