MPAs Management: 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.
MPAs Management
Largest movements
- Receivables within one year -€71,100
down €71,100 (-74.2%), from €95,842 to €24,742
of which Other amounts receivable: -€69,230
- Cash -€2,225
down €2,225 (-59.3%), from €3,751 to €1,526
mainly Net result for the year (-€63,450) and Trade debts (-€10,443)
- Profit (loss) carried forward -€63,450
down €63,450 (-705.1%), from -€8,998 to -€72,448
- Trade debts -€10,443
down €10,443 (-60.6%), from €17,226 to €6,784
- Gross operating margin +€14,942
up €14,942 (+468.5%), from €3,189 to €18,132
- Taxes +€1,080
new in 2025: €1,080
- Depreciation -€622
down €622 (-100.0%), from €622 to €0
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 | €109,593 | €36,267 | -€73,325 | -66.9% |
| Fixed assets | 21/28 | €10,000 | €10,000 | = | 0.0% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €99,593 | €26,267 | -€73,325 | -73.6% |
| Amounts receivable within one year | 40/41 | €95,842 | €24,742 | -€71,100 | -74.2% |
| Trade receivables | 40 | €8,117 | €6,247 | -€1,870 | -23.0% |
| Other amounts receivable | 41 | €87,724 | €18,494 | -€69,230 | -78.9% |
| Cash at bank and in hand | 54/58 | €3,751 | €1,526 | -€2,225 | -59.3% |
| Total equity and liabilities | 10/49 | €109,593 | €36,267 | -€73,325 | -66.9% |
| Equity | 10/15 | €20,203 | -€43,247 | -€63,450 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €10,601 | €10,601 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €8,741 | €8,741 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,998 | -€72,448 | -€63,450 | -705.1% |
| Amounts payable | 17/49 | €89,390 | €79,515 | -€9,875 | -11.0% |
| Amounts payable after more than one year | 17 | €71,500 | €71,500 | = | 0.0% |
| Other amounts payable | 178/9 | €71,500 | €71,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €17,890 | €8,015 | -€9,875 | -55.2% |
| Trade debts | 44 | €17,226 | €6,784 | -€10,443 | -60.6% |
| Suppliers | 440/4 | €17,226 | €6,784 | -€10,443 | -60.6% |
| Taxes, remuneration and social security | 45 | €663 | €1,231 | +€568 | +85.6% |
| Taxes | 450/3 | €663 | €1,231 | +€568 | +85.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €622 | €0 | -€622 | -100.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Non-recurring operating charges | 66A | - | €80,000 | +€80,000 | |
| Gross operating margin | 9900 | €3,189 | €18,132 | +€14,942 | +468.5% |
| Operating profit (loss) | 9901 | €2,180 | -€62,268 | -€64,448 | |
| Financial charges | 65/66B | €99 | €102 | +€3 | +2.7% |
| Recurring financial charges | 65 | €99 | €102 | +€3 | +2.7% |
| Profit (loss) for the period before taxes | 9903 | €2,081 | -€62,370 | -€64,451 | |
| Income taxes | 67/77 | - | €1,080 | +€1,080 | |
| Profit (loss) for the period | 9904 | €2,081 | -€63,450 | -€65,531 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,081 | -€63,450 | -€65,531 |
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 5 October 2026 via checked.be.