MPE MANAGEMENT: 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.
MPE MANAGEMENT
Largest movements
- Receivables within one year +€191,937
up €191,937 (+731%), from €26,242 to €218,179
of which Trade receivables: +€199,674
- Cash -€158,746
down €158,746 (-59.8%), from €265,538 to €106,793
mainly Contributions, distributions and other (-€749,181) and Receivables within one year (-€191,937)
- Deferred charges and accrued income +€16,379
new in 2025: €16,379
- Profit (loss) carried forward -€511,254
down €511,254 (-68.2%), from €749,181 to €237,927
- Debts after one year +€360,350
up €360,350 (+72.8%), from €494,846 to €855,196
- Other debts +€185,906
up €185,906 (+207%), from €89,939 to €275,844
- Gross operating margin +€135,470
up €135,470 (+60.0%), from €225,633 to €361,103
- Taxes +€32,991
up €32,991 (+69.2%), from €47,653 to €80,645
- Financial charges +€7,113
up €7,113 (+23.3%), from €30,523 to €37,636
- Depreciation -€5,977
down €5,977 (-60.5%), from €9,874 to €3,897
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 | €1,502,305 | €1,548,958 | +€46,654 | +3.1% |
| Fixed assets | 21/28 | €1,210,524 | €1,207,607 | -€2,917 | -0.2% |
| Tangible fixed assets | 22/27 | €35,104 | €32,187 | -€2,917 | -8.3% |
| Land and buildings | 22 | €17,004 | €16,152 | -€852 | -5.0% |
| Furniture and vehicles | 24 | €9,350 | €7,285 | -€2,065 | -22.1% |
| Other tangible fixed assets | 26 | €8,750 | €8,750 | = | 0.0% |
| Financial fixed assets | 28 | €1,175,420 | €1,175,420 | = | 0.0% |
| Current assets | 29/58 | €291,780 | €341,351 | +€49,570 | +17.0% |
| Amounts receivable within one year | 40/41 | €26,242 | €218,179 | +€191,937 | +731% |
| Trade receivables | 40 | €1,803 | €201,477 | +€199,674 | +11,075% |
| Other amounts receivable | 41 | €24,439 | €16,702 | -€7,737 | -31.7% |
| Cash at bank and in hand | 54/58 | €265,538 | €106,793 | -€158,746 | -59.8% |
| Deferred charges and accrued income | 490/1 | - | €16,379 | +€16,379 | |
| Total equity and liabilities | 10/49 | €1,502,305 | €1,548,958 | +€46,654 | +3.1% |
| Equity | 10/15 | €749,231 | €237,977 | -€511,254 | -68.2% |
| Contributions | 10/11 | €50 | €50 | = | 0.0% |
| Profit (loss) carried forward | 14 | €749,181 | €237,927 | -€511,254 | -68.2% |
| Amounts payable | 17/49 | €753,074 | €1,310,981 | +€557,908 | +74.1% |
| Amounts payable after more than one year | 17 | €494,846 | €855,196 | +€360,350 | +72.8% |
| Financial debts | 170/4 | €494,846 | €855,196 | +€360,350 | +72.8% |
| Amounts payable within one year | 42/48 | €228,395 | €418,177 | +€189,783 | +83.1% |
| Current portion of amounts payable after more than one year | 42 | €109,107 | €109,650 | +€543 | +0.5% |
| Trade debts | 44 | €5,099 | €4,594 | -€505 | -9.9% |
| Suppliers | 440/4 | €5,099 | €4,594 | -€505 | -9.9% |
| Taxes, remuneration and social security | 45 | €24,250 | €28,089 | +€3,839 | +15.8% |
| Taxes | 450/3 | €24,250 | €28,089 | +€3,839 | +15.8% |
| Other amounts payable | 47/48 | €89,939 | €275,844 | +€185,906 | +207% |
| Accrued charges and deferred income | 492/3 | €29,833 | €37,608 | +€7,775 | +26.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,874 | €3,897 | -€5,977 | -60.5% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Gross operating margin | 9900 | €225,633 | €361,103 | +€135,470 | +60.0% |
| Operating profit (loss) | 9901 | €214,791 | €356,207 | +€141,416 | +65.8% |
| Financial income | 75/76B | €0 | €0 | +€0 | +100% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +100% |
| Financial charges | 65/66B | €30,523 | €37,636 | +€7,113 | +23.3% |
| Recurring financial charges | 65 | €30,523 | €37,636 | +€7,113 | +23.3% |
| Profit (loss) for the period before taxes | 9903 | €184,268 | €318,571 | +€134,303 | +72.9% |
| Income taxes | 67/77 | €47,653 | €80,645 | +€32,991 | +69.2% |
| Profit (loss) for the period | 9904 | €136,615 | €237,927 | +€101,312 | +74.2% |
| Profit (loss) for the period to be appropriated | 9905 | €136,615 | €237,927 | +€101,312 | +74.2% |
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 21 October 2026 via checked.be.