MR4Y: 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.
MR4Y
Largest movements
- Cash +€4,162
up €4,162 (+4,471%), from €93 to €4,255
mainly Net result for the year (+€14,765) and Depreciation (+€5,173)
- Receivables within one year -€2,702
down €2,702 (-10.6%), from €25,487 to €22,785
of which Trade receivables: -€8,912
- Tangible fixed assets +€2,600
up €2,600 (+7.0%), from €37,163 to €39,763
- Reserves +€14,765
up €14,765 (+89.7%), from €16,469 to €31,234
- Debts after one year -€8,844
down €8,844 (-30.9%), from €28,624 to €19,780
- Other debts -€2,855
down €2,855 (-100%), from €2,855 to €0
- Tax, wage and social debts +€767
up €767 (+34.4%), from €2,230 to €2,997
- Depreciation +€1,760
up €1,760 (+51.5%), from €3,413 to €5,173
- Taxes +€605
up €605 (+13.2%), from €4,575 to €5,180
- Gross operating margin +€592
up €592 (+2.2%), from €26,874 to €27,465
- Financial charges +€383
up €383 (+34.4%), from €1,111 to €1,494
- Other operating charges -€353
down €353 (-27.1%), from €1,305 to €951
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 | €63,309 | €67,477 | +€4,168 | +6.6% |
| Fixed assets | 21/28 | €37,163 | €39,763 | +€2,600 | +7.0% |
| Tangible fixed assets | 22/27 | €37,163 | €39,763 | +€2,600 | +7.0% |
| Furniture and vehicles | 24 | €37,163 | €39,763 | +€2,600 | +7.0% |
| Current assets | 29/58 | €26,146 | €27,714 | +€1,568 | +6.0% |
| Amounts receivable within one year | 40/41 | €25,487 | €22,785 | -€2,702 | -10.6% |
| Trade receivables | 40 | €21,791 | €12,880 | -€8,912 | -40.9% |
| Other amounts receivable | 41 | €3,696 | €9,905 | +€6,209 | +168% |
| Cash at bank and in hand | 54/58 | €93 | €4,255 | +€4,162 | +4,471% |
| Deferred charges and accrued income | 490/1 | €566 | €674 | +€108 | +19.1% |
| Total equity and liabilities | 10/49 | €63,309 | €67,477 | +€4,168 | +6.6% |
| Equity | 10/15 | €18,969 | €33,734 | +€14,765 | +77.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €16,469 | €31,234 | +€14,765 | +89.7% |
| Distributable reserves | 133 | €16,469 | €31,234 | +€14,765 | +89.7% |
| Amounts payable | 17/49 | €44,340 | €33,743 | -€10,597 | -23.9% |
| Amounts payable after more than one year | 17 | €28,624 | €19,780 | -€8,844 | -30.9% |
| Financial debts | 170/4 | €28,624 | €19,780 | -€8,844 | -30.9% |
| Amounts payable within one year | 42/48 | €15,716 | €13,963 | -€1,752 | -11.1% |
| Current portion of amounts payable after more than one year | 42 | €8,502 | €8,844 | +€343 | +4.0% |
| Trade debts | 44 | €2,129 | €2,122 | -€7 | -0.3% |
| Suppliers | 440/4 | €2,129 | €2,122 | -€7 | -0.3% |
| Taxes, remuneration and social security | 45 | €2,230 | €2,997 | +€767 | +34.4% |
| Taxes | 450/3 | €2,230 | €2,997 | +€767 | +34.4% |
| Other amounts payable | 47/48 | €2,855 | €0 | -€2,855 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,413 | €5,173 | +€1,760 | +51.5% |
| Other operating charges | 640/8 | €1,305 | €951 | -€353 | -27.1% |
| Non-recurring operating charges | 66A | - | €152 | +€152 | |
| Gross operating margin | 9900 | €26,874 | €27,465 | +€592 | +2.2% |
| Operating profit (loss) | 9901 | €22,156 | €21,189 | -€966 | -4.4% |
| Financial income | 75/76B | - | €250 | +€250 | |
| Recurring financial income | 75 | - | €250 | +€250 | |
| Financial charges | 65/66B | €1,111 | €1,494 | +€383 | +34.4% |
| Recurring financial charges | 65 | €1,111 | €1,494 | +€383 | +34.4% |
| Profit (loss) for the period before taxes | 9903 | €21,044 | €19,945 | -€1,099 | -5.2% |
| Income taxes | 67/77 | €4,575 | €5,180 | +€605 | +13.2% |
| Profit (loss) for the period | 9904 | €16,469 | €14,765 | -€1,704 | -10.3% |
| Profit (loss) for the period to be appropriated | 9905 | €16,469 | €14,765 | -€1,704 | -10.3% |
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 18 October 2026 via checked.be.