MPNC INVEST: 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.
MPNC INVEST
Largest movements
- Tangible fixed assets +€246,443
up €246,443 (+15.0%), from €1.6m to €1.9m
of which Land and buildings: +€270,699
- Cash +€103,151
up €103,151 (+178%), from €58,001 to €161,152
mainly Debts after one year (+€238,413) and Depreciation (+€53,557)
- Debts after one year +€238,413
up €238,413 (+37.6%), from €633,687 to €872,100
of which Financial debts: +€238,413
- Profit (loss) carried forward +€45,687
up €45,687 (+20.8%), from €219,799 to €265,486
- Current portion of long-term debt +€39,638
up €39,638 (+73.5%), from €53,900 to €93,538
- Other debts +€27,480
up €27,480 (+59.8%), from €45,922 to €73,403
- Gross operating margin -€60,678
down €60,678 (-31.8%), from €190,860 to €130,182
- Financial charges -€40,966
down €40,966 (-67.8%), from €60,467 to €19,501
- Taxes -€17,037
no longer reported in 2025 (was €17,037)
- Other operating charges +€2,655
up €2,655 (+30.2%), from €8,782 to €11,437
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 | €1,760,558 | €2,132,038 | +€371,480 | +21.1% |
| Fixed assets | 21/28 | €1,641,649 | €1,888,092 | +€246,443 | +15.0% |
| Tangible fixed assets | 22/27 | €1,641,649 | €1,888,092 | +€246,443 | +15.0% |
| Land and buildings | 22 | €1,469,333 | €1,740,032 | +€270,699 | +18.4% |
| Plant, machinery and equipment | 23 | €165,566 | €143,396 | -€22,169 | -13.4% |
| Furniture and vehicles | 24 | €6,751 | €4,664 | -€2,087 | -30.9% |
| Current assets | 29/58 | €118,909 | €243,946 | +€125,037 | +105% |
| Amounts receivable within one year | 40/41 | €58,747 | €79,783 | +€21,036 | +35.8% |
| Trade receivables | 40 | €46,290 | €46,290 | = | 0.0% |
| Other amounts receivable | 41 | €12,457 | €33,493 | +€21,036 | +169% |
| Cash at bank and in hand | 54/58 | €58,001 | €161,152 | +€103,151 | +178% |
| Deferred charges and accrued income | 490/1 | €2,162 | €3,011 | +€850 | +39.3% |
| Total equity and liabilities | 10/49 | €1,760,558 | €2,132,038 | +€371,480 | +21.1% |
| Equity | 10/15 | €1,016,549 | €1,062,236 | +€45,687 | +4.5% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Capital | 10 | €40,000 | €40,000 | = | 0.0% |
| Issued capital | 100 | €40,000 | €40,000 | = | 0.0% |
| Revaluation surpluses | 12 | €756,750 | €756,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €219,799 | €265,486 | +€45,687 | +20.8% |
| Amounts payable | 17/49 | €744,009 | €1,069,802 | +€325,793 | +43.8% |
| Amounts payable after more than one year | 17 | €633,687 | €872,100 | +€238,413 | +37.6% |
| Financial debts | 170/4 | €633,037 | €871,450 | +€238,413 | +37.7% |
| Other amounts payable | 178/9 | €650 | €650 | = | 0.0% |
| Amounts payable within one year | 42/48 | €110,322 | €197,702 | +€87,380 | +79.2% |
| Current portion of amounts payable after more than one year | 42 | €53,900 | €93,538 | +€39,638 | +73.5% |
| Trade debts | 44 | €5,953 | €26,215 | +€20,262 | +340% |
| Suppliers | 440/4 | €5,953 | €26,215 | +€20,262 | +340% |
| Taxes, remuneration and social security | 45 | €4,546 | €4,546 | = | 0.0% |
| Taxes | 450/3 | €4,546 | €4,546 | = | 0.0% |
| Other amounts payable | 47/48 | €45,922 | €73,403 | +€27,480 | +59.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,969 | €53,557 | +€1,589 | +3.1% |
| Other operating charges | 640/8 | €8,782 | €11,437 | +€2,655 | +30.2% |
| Gross operating margin | 9900 | €190,860 | €130,182 | -€60,678 | -31.8% |
| Operating profit (loss) | 9901 | €130,109 | €65,187 | -€64,922 | -49.9% |
| Financial charges | 65/66B | €60,467 | €19,501 | -€40,966 | -67.8% |
| Recurring financial charges | 65 | €60,467 | €19,501 | -€40,966 | -67.8% |
| Profit (loss) for the period before taxes | 9903 | €69,642 | €45,687 | -€23,955 | -34.4% |
| Income taxes | 67/77 | €17,037 | - | -€17,037 | |
| Profit (loss) for the period | 9904 | €52,605 | €45,687 | -€6,918 | -13.2% |
| Profit (loss) for the period to be appropriated | 9905 | €52,605 | €45,687 | -€6,918 | -13.2% |
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 31 October 2026 via checked.be.