MPC: 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.
MPC
Largest movements
- Tangible fixed assets -€30,633
down €30,633 (-9.7%), from €315,301 to €284,668
of which Plant, machinery and equipment: -€17,800
- Cash +€18,912
up €18,912 (+31.0%), from €60,960 to €79,872
mainly Depreciation (+€55,915) and Net result for the year (+€38,353)
- Receivables within one year +€18,554
up €18,554 (+69.5%), from €26,705 to €45,259
of which Trade receivables: +€24,164
- Stocks and contracts +€15,968
up €15,968 (+29.1%), from €54,922 to €70,891
of which Contracts in progress: +€9,218
- Reserves +€38,353
up €38,353 (+68.3%), from €56,176 to €94,530
of which Distributable reserves: +€38,353
- Debts after one year -€30,851
down €30,851 (-93.5%), from €33,008 to €2,157
- Other debts +€21,206
up €21,206 (+7.9%), from €268,963 to €290,169
- Trade debts +€17,416
up €17,416 (+56.3%), from €30,932 to €48,348
- Accrued charges and deferred income -€10,422
no longer reported in 2025 (was €10,422)
- Depreciation +€7,257
up €7,257 (+14.9%), from €48,658 to €55,915
- Gross operating margin +€4,445
up €4,445 (+4.0%), from €111,666 to €116,111
- Financial charges -€1,567
down €1,567 (-34.7%), from €4,509 to €2,942
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 | €458,039 | €481,872 | +€23,833 | +5.2% |
| Fixed assets | 21/28 | €315,451 | €284,818 | -€30,633 | -9.7% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €315,301 | €284,668 | -€30,633 | -9.7% |
| Land and buildings | 22 | €162,115 | €155,346 | -€6,769 | -4.2% |
| Plant, machinery and equipment | 23 | €132,506 | €114,706 | -€17,800 | -13.4% |
| Furniture and vehicles | 24 | €20,680 | €14,616 | -€6,064 | -29.3% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €142,588 | €197,054 | +€54,466 | +38.2% |
| Stocks and contracts in progress | 3 | €54,922 | €70,891 | +€15,968 | +29.1% |
| Stocks | 30/36 | €54,922 | €61,673 | +€6,751 | +12.3% |
| Contracts in progress | 37 | - | €9,218 | +€9,218 | |
| Amounts receivable within one year | 40/41 | €26,705 | €45,259 | +€18,554 | +69.5% |
| Trade receivables | 40 | €16,716 | €40,880 | +€24,164 | +145% |
| Other amounts receivable | 41 | €9,989 | €4,379 | -€5,611 | -56.2% |
| Cash at bank and in hand | 54/58 | €60,960 | €79,872 | +€18,912 | +31.0% |
| Deferred charges and accrued income | 490/1 | - | €1,032 | +€1,032 | |
| Total equity and liabilities | 10/49 | €458,039 | €481,872 | +€23,833 | +5.2% |
| Equity | 10/15 | €68,576 | €106,930 | +€38,353 | +55.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Capital | 10 | €12,400 | €12,400 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €56,176 | €94,530 | +€38,353 | +68.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €54,316 | €92,670 | +€38,353 | +70.6% |
| Amounts payable | 17/49 | €389,463 | €374,943 | -€14,520 | -3.7% |
| Amounts payable after more than one year | 17 | €33,008 | €2,157 | -€30,851 | -93.5% |
| Financial debts | 170/4 | €33,008 | €2,157 | -€30,851 | -93.5% |
| Amounts payable within one year | 42/48 | €346,033 | €372,785 | +€26,753 | +7.7% |
| Current portion of amounts payable after more than one year | 42 | €37,566 | €30,851 | -€6,715 | -17.9% |
| Trade debts | 44 | €30,932 | €48,348 | +€17,416 | +56.3% |
| Suppliers | 440/4 | €30,932 | €48,348 | +€17,416 | +56.3% |
| Taxes, remuneration and social security | 45 | €8,572 | €3,418 | -€5,154 | -60.1% |
| Taxes | 450/3 | €5,780 | €3,418 | -€2,362 | -40.9% |
| Remuneration and social security | 454/9 | €2,792 | - | -€2,792 | |
| Other amounts payable | 47/48 | €268,963 | €290,169 | +€21,206 | +7.9% |
| Accrued charges and deferred income | 492/3 | €10,422 | - | -€10,422 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,658 | €55,915 | +€7,257 | +14.9% |
| Other operating charges | 640/8 | €3,243 | €3,525 | +€282 | +8.7% |
| Gross operating margin | 9900 | €111,666 | €116,111 | +€4,445 | +4.0% |
| Operating profit (loss) | 9901 | €59,765 | €56,672 | -€3,093 | -5.2% |
| Financial income | 75/76B | €266 | €542 | +€276 | +104% |
| Recurring financial income | 75 | €266 | €542 | +€276 | +104% |
| Financial charges | 65/66B | €4,509 | €2,942 | -€1,567 | -34.7% |
| Recurring financial charges | 65 | €4,509 | €2,942 | -€1,567 | -34.7% |
| Profit (loss) for the period before taxes | 9903 | €55,522 | €54,272 | -€1,250 | -2.3% |
| Income taxes | 67/77 | €15,834 | €15,918 | +€84 | +0.5% |
| Profit (loss) for the period | 9904 | €39,688 | €38,353 | -€1,335 | -3.4% |
| Profit (loss) for the period to be appropriated | 9905 | €39,688 | €38,353 | -€1,335 | -3.4% |
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 19 October 2026 via checked.be.