MRC: 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.
MRC
Largest movements
- Current investments +€108,895
up €108,895 (+1,746%), from €6,236 to €115,131
- Cash -€62,275
down €62,275 (-33.1%), from €188,032 to €125,758
mainly Other debts (-€115,000) and Current investments (-€108,895)
- Receivables within one year +€9,497
up €9,497 (+14.6%), from €65,013 to €74,510
of which Other amounts receivable: +€5,652
- Reserves +€157,602
up €157,602 (+126%), from €125,265 to €282,867
- Other debts -€115,000
down €115,000 (-100%), from €115,000 to €0
- Tax, wage and social debts +€15,061
up €15,061 (+42.7%), from €35,238 to €50,298
- Gross operating margin +€63,340
up €63,340 (+36.8%), from €172,328 to €235,667
- Taxes +€19,359
up €19,359 (+37.1%), from €52,147 to €71,506
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 | €289,767 | €345,359 | +€55,593 | +19.2% |
| Fixed assets | 21/28 | €20,137 | €19,020 | -€1,117 | -5.5% |
| Tangible fixed assets | 22/27 | €20,112 | €18,995 | -€1,117 | -5.6% |
| Furniture and vehicles | 24 | €2,965 | €4,247 | +€1,282 | +43.2% |
| Other tangible fixed assets | 26 | €17,147 | €14,748 | -€2,399 | -14.0% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €269,629 | €326,339 | +€56,710 | +21.0% |
| Amounts receivable within one year | 40/41 | €65,013 | €74,510 | +€9,497 | +14.6% |
| Trade receivables | 40 | €42,430 | €46,275 | +€3,845 | +9.1% |
| Other amounts receivable | 41 | €22,582 | €28,235 | +€5,652 | +25.0% |
| Current investments | 50/53 | €6,236 | €115,131 | +€108,895 | +1,746% |
| Cash at bank and in hand | 54/58 | €188,032 | €125,758 | -€62,275 | -33.1% |
| Deferred charges and accrued income | 490/1 | €10,348 | €10,941 | +€592 | +5.7% |
| Total equity and liabilities | 10/49 | €289,767 | €345,359 | +€55,593 | +19.2% |
| Equity | 10/15 | €135,265 | €292,867 | +€157,602 | +117% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €125,265 | €282,867 | +€157,602 | +126% |
| Distributable reserves | 133 | €125,265 | €282,867 | +€157,602 | +126% |
| Amounts payable | 17/49 | €154,502 | €52,493 | -€102,009 | -66.0% |
| Amounts payable within one year | 42/48 | €154,502 | €52,493 | -€102,009 | -66.0% |
| Trade debts | 44 | €4,264 | €2,195 | -€2,070 | -48.5% |
| Suppliers | 440/4 | €4,264 | €2,195 | -€2,070 | -48.5% |
| Taxes, remuneration and social security | 45 | €35,238 | €50,298 | +€15,061 | +42.7% |
| Taxes | 450/3 | €35,238 | €50,298 | +€15,061 | +42.7% |
| Other amounts payable | 47/48 | €115,000 | €0 | -€115,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,750 | €3,476 | +€727 | +26.4% |
| Other operating charges | 640/8 | €2,492 | €2,286 | -€206 | -8.3% |
| Gross operating margin | 9900 | €172,328 | €235,667 | +€63,340 | +36.8% |
| Operating profit (loss) | 9901 | €167,086 | €229,905 | +€62,818 | +37.6% |
| Financial income | 75/76B | €1,634 | €1,736 | +€102 | +6.3% |
| Recurring financial income | 75 | €1,634 | €1,736 | +€102 | +6.3% |
| Financial charges | 65/66B | €1,403 | €2,532 | +€1,130 | +80.5% |
| Recurring financial charges | 65 | €1,403 | €2,532 | +€1,130 | +80.5% |
| Profit (loss) for the period before taxes | 9903 | €167,317 | €229,108 | +€61,791 | +36.9% |
| Income taxes | 67/77 | €52,147 | €71,506 | +€19,359 | +37.1% |
| Profit (loss) for the period | 9904 | €115,170 | €157,602 | +€42,432 | +36.8% |
| Profit (loss) for the period to be appropriated | 9905 | €115,170 | €157,602 | +€42,432 | +36.8% |
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 13 October 2026 via checked.be.