MPR: 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.
MPR
Largest movements
- Tangible fixed assets +€29,248
up €29,248 (+2.3%), from €1.3m to €1.3m
of which Land and buildings: +€89,537
- Receivables within one year -€28,427
down €28,427 (-92.8%), from €30,619 to €2,192
of which Trade receivables: -€30,619
- Cash +€22,909
up €22,909 (+45.3%), from €50,576 to €73,485
mainly Depreciation (+€128,753) and Current portion of long-term debt (+€104,585)
- Debts after one year -€223,497
down €223,497 (-28.3%), from €789,387 to €565,890
- Current portion of long-term debt +€104,585
up €104,585 (+88.0%), from €118,912 to €223,497
- Reserves +€88,925
up €88,925 (+48.2%), from €184,573 to €273,497
of which Distributable reserves: +€90,691
- Other debts +€50,000
up €50,000, from €0 to €50,000
- Trade debts +€29,395
up €29,395 (+104%), from €28,377 to €57,771
- Gross operating margin +€31,439
up €31,439 (+11.8%), from €265,959 to €297,397
- Taxes +€11,077
up €11,077 (+35.0%), from €31,669 to €42,747
- Depreciation +€9,192
up €9,192 (+7.7%), from €119,561 to €128,753
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 | €1,338,141 | €1,368,508 | +€30,367 | +2.3% |
| Fixed assets | 21/28 | €1,256,899 | €1,286,147 | +€29,248 | +2.3% |
| Tangible fixed assets | 22/27 | €1,256,899 | €1,286,147 | +€29,248 | +2.3% |
| Land and buildings | 22 | €973,124 | €1,062,661 | +€89,537 | +9.2% |
| Plant, machinery and equipment | 23 | €17,875 | €19,300 | +€1,425 | +8.0% |
| Furniture and vehicles | 24 | €18,635 | €2,152 | -€16,483 | -88.5% |
| Other tangible fixed assets | 26 | €247,264 | €202,034 | -€45,230 | -18.3% |
| Current assets | 29/58 | €81,242 | €82,361 | +€1,119 | +1.4% |
| Amounts receivable within one year | 40/41 | €30,619 | €2,192 | -€28,427 | -92.8% |
| Trade receivables | 40 | €30,619 | €0 | -€30,619 | -100% |
| Other amounts receivable | 41 | - | €2,192 | +€2,192 | |
| Cash at bank and in hand | 54/58 | €50,576 | €73,485 | +€22,909 | +45.3% |
| Deferred charges and accrued income | 490/1 | €47 | €6,684 | +€6,637 | +14,116% |
| Total equity and liabilities | 10/49 | €1,338,141 | €1,368,508 | +€30,367 | +2.3% |
| Equity | 10/15 | €366,058 | €454,983 | +€88,925 | +24.3% |
| Contributions | 10/11 | €63,000 | €63,000 | = | 0.0% |
| Capital | 10 | €63,000 | €63,000 | = | 0.0% |
| Issued capital | 100 | €63,000 | €63,000 | = | 0.0% |
| Reserves | 13 | €184,573 | €273,497 | +€88,925 | +48.2% |
| Non-distributable reserves | 130/1 | €6,300 | €6,300 | = | 0.0% |
| Legal reserve | 130 | €6,300 | €6,300 | = | 0.0% |
| Tax-exempt reserves | 132 | €34,905 | €33,139 | -€1,767 | -5.1% |
| Distributable reserves | 133 | €143,367 | €234,058 | +€90,691 | +63.3% |
| Profit (loss) carried forward | 14 | €118,485 | €118,485 | = | 0.0% |
| Provisions and deferred taxes | 16 | €11,635 | €11,046 | -€589 | -5.1% |
| Deferred taxes | 168 | €11,635 | €11,046 | -€589 | -5.1% |
| Amounts payable | 17/49 | €960,448 | €902,479 | -€57,968 | -6.0% |
| Amounts payable after more than one year | 17 | €789,387 | €565,890 | -€223,497 | -28.3% |
| Financial debts | 170/4 | €789,387 | €565,890 | -€223,497 | -28.3% |
| Amounts payable within one year | 42/48 | €171,042 | €336,590 | +€165,548 | +96.8% |
| Current portion of amounts payable after more than one year | 42 | €118,912 | €223,497 | +€104,585 | +88.0% |
| Trade debts | 44 | €28,377 | €57,771 | +€29,395 | +104% |
| Suppliers | 440/4 | €28,377 | €57,771 | +€29,395 | +104% |
| Taxes, remuneration and social security | 45 | €23,752 | €5,321 | -€18,432 | -77.6% |
| Taxes | 450/3 | €23,752 | €5,321 | -€18,432 | -77.6% |
| Other amounts payable | 47/48 | €0 | €50,000 | +€50,000 | |
| Accrued charges and deferred income | 492/3 | €19 | €0 | -€19 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €119,561 | €128,753 | +€9,192 | +7.7% |
| Other operating charges | 640/8 | €14,911 | €15,377 | +€466 | +3.1% |
| Non-recurring operating charges | 66A | €0 | €7,617 | +€7,617 | |
| Gross operating margin | 9900 | €265,959 | €297,397 | +€31,439 | +11.8% |
| Operating profit (loss) | 9901 | €131,487 | €145,650 | +€14,164 | +10.8% |
| Financial income | 75/76B | €16 | €28 | +€12 | +79.7% |
| Recurring financial income | 75 | €16 | €28 | +€12 | +79.7% |
| Financial charges | 65/66B | €16,953 | €14,596 | -€2,357 | -13.9% |
| Recurring financial charges | 65 | €16,953 | €14,596 | -€2,357 | -13.9% |
| Profit (loss) for the period before taxes | 9903 | €114,549 | €131,082 | +€16,533 | +14.4% |
| Transfer from deferred taxes | 780 | €359 | €589 | +€229 | +63.8% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €31,669 | €42,747 | +€11,077 | +35.0% |
| Profit (loss) for the period | 9904 | €83,239 | €88,925 | +€5,685 | +6.8% |
| Transfer from tax-exempt reserves | 789 | €1,078 | €1,767 | +€688 | +63.8% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €84,318 | €90,691 | +€6,374 | +7.6% |
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 24 October 2026 via checked.be.