MRC 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.
MRC INVEST
Largest movements
- Financial fixed assets +€650,000
new in 2025: €650,000
- Receivables after one year +€80,000
new in 2025: €80,000
- Cash -€62,956
down €62,956 (-86.6%), from €72,658 to €9,702
mainly Investment in fixed assets (net) (-€657,738) and Receivables after one year (-€80,000)
- Receivables within one year -€38,887
down €38,887 (-75.4%), from €51,557 to €12,670
of which Other amounts receivable: -€34,787
- Tangible fixed assets -€17,209
down €17,209 (-3.0%), from €572,962 to €555,753
of which Land and buildings: -€19,257
- Debts after one year +€604,859
up €604,859 (+101%), from €598,995 to €1.2m
of which Financial debts: +€606,032
- Other debts -€27,577
down €27,577 (-50.7%), from €54,424 to €26,846
- Current portion of long-term debt +€25,067
up €25,067 (+92.0%), from €27,252 to €52,319
- Depreciation -€24,028
down €24,028 (-49.1%), from €48,976 to €24,947
- Financial charges +€10,013
up €10,013 (+47.6%), from €21,057 to €31,070
- Financial income +€6,213
up €6,213 (+210%), from €2,957 to €9,170
- Gross operating margin +€5,513
up €5,513 (+8.2%), from €67,600 to €73,113
- Taxes +€3,741
new in 2025: €3,741
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 | €697,842 | €1,308,781 | +€610,939 | +87.5% |
| Fixed assets | 21/28 | €572,962 | €1,205,753 | +€632,791 | +110% |
| Tangible fixed assets | 22/27 | €572,962 | €555,753 | -€17,209 | -3.0% |
| Land and buildings | 22 | €536,188 | €516,931 | -€19,257 | -3.6% |
| Other tangible fixed assets | 26 | €36,774 | €38,821 | +€2,048 | +5.6% |
| Financial fixed assets | 28 | - | €650,000 | +€650,000 | |
| Current assets | 29/58 | €124,880 | €103,028 | -€21,851 | -17.5% |
| Amounts receivable after more than one year | 29 | - | €80,000 | +€80,000 | |
| Other amounts receivable | 291 | - | €80,000 | +€80,000 | |
| Amounts receivable within one year | 40/41 | €51,557 | €12,670 | -€38,887 | -75.4% |
| Trade receivables | 40 | €7,600 | €3,500 | -€4,100 | -53.9% |
| Other amounts receivable | 41 | €43,957 | €9,170 | -€34,787 | -79.1% |
| Cash at bank and in hand | 54/58 | €72,658 | €9,702 | -€62,956 | -86.6% |
| Deferred charges and accrued income | 490/1 | €665 | €656 | -€9 | -1.3% |
| Total equity and liabilities | 10/49 | €697,842 | €1,308,781 | +€610,939 | +87.5% |
| Equity | 10/15 | €1,064 | €18,919 | +€17,854 | +1,677% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €10,000 | +€10,000 | |
| Distributable reserves | 133 | - | €10,000 | +€10,000 | |
| Profit (loss) carried forward | 14 | -€3,936 | €3,919 | +€7,854 | |
| Amounts payable | 17/49 | €696,777 | €1,289,862 | +€593,085 | +85.1% |
| Amounts payable after more than one year | 17 | €598,995 | €1,203,854 | +€604,859 | +101% |
| Financial debts | 170/4 | €545,124 | €1,151,156 | +€606,032 | +111% |
| Other amounts payable | 178/9 | €53,872 | €52,698 | -€1,174 | -2.2% |
| Amounts payable within one year | 42/48 | €97,782 | €86,008 | -€11,774 | -12.0% |
| Current portion of amounts payable after more than one year | 42 | €27,252 | €52,319 | +€25,067 | +92.0% |
| Trade debts | 44 | €16,106 | €3,102 | -€13,004 | -80.7% |
| Suppliers | 440/4 | €16,106 | €3,102 | -€13,004 | -80.7% |
| Taxes, remuneration and social security | 45 | - | €3,741 | +€3,741 | |
| Taxes | 450/3 | - | €3,741 | +€3,741 | |
| Other amounts payable | 47/48 | €54,424 | €26,846 | -€27,577 | -50.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,976 | €24,947 | -€24,028 | -49.1% |
| Other operating charges | 640/8 | €3,673 | €4,671 | +€998 | +27.2% |
| Gross operating margin | 9900 | €67,600 | €73,113 | +€5,513 | +8.2% |
| Operating profit (loss) | 9901 | €14,952 | €43,495 | +€28,543 | +191% |
| Financial income | 75/76B | €2,957 | €9,170 | +€6,213 | +210% |
| Recurring financial income | 75 | €2,957 | €9,170 | +€6,213 | +210% |
| Financial charges | 65/66B | €21,057 | €31,070 | +€10,013 | +47.6% |
| Recurring financial charges | 65 | €21,057 | €31,070 | +€10,013 | +47.6% |
| Profit (loss) for the period before taxes | 9903 | -€3,148 | €21,595 | +€24,743 | |
| Income taxes | 67/77 | - | €3,741 | +€3,741 | |
| Profit (loss) for the period | 9904 | -€3,148 | €17,854 | +€21,003 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,148 | €17,854 | +€21,003 |
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 23 October 2026 via checked.be.