MRC PROJECTS: what changed
Two fiscal 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 PROJECTS
Largest movements
- Cash -€115,941
down €115,941 (-75.3%), from €153,935 to €37,994
mainly Contributions, distributions and other (-€209,441) and Investment in fixed assets (net) (-€29,740)
- Intangible fixed assets -€8,975
down €8,975 (-100.0%), from €8,975 to €0
- Tangible fixed assets +€7,340
up €7,340 (+10.5%), from €69,881 to €77,222
- Profit (loss) carried forward -€150,001
down €150,001 (-71.6%), from €209,441 to €59,440
- Other debts +€33,317
up €33,317 (+640.2%), from €5,204 to €38,521
- Trade debts +€10,962
up €10,962 (+158.1%), from €6,935 to €17,897
- Current portion of long-term debt -€9,308
down €9,308 (-40.3%), from €23,093 to €13,785
- Gross operating margin +€19,377
up €19,377 (+11.1%), from €174,592 to €193,969
- Staff costs +€16,434
up €16,434 (+24.8%), from €66,157 to €82,591
- Depreciation +€8,078
up €8,078 (+34.7%), from €23,297 to €31,375
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.
Cash bridge derived
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 | €284,840 | €169,471 | -€115,368 | -40.5% |
| Fixed assets | 21/28 | €78,857 | €77,222 | -€1,635 | -2.1% |
| Intangible fixed assets | 21 | €8,975 | €0 | -€8,975 | -100.0% |
| Tangible fixed assets | 22/27 | €69,881 | €77,222 | +€7,340 | +10.5% |
| Furniture and vehicles | 24 | €69,881 | €77,222 | +€7,340 | +10.5% |
| Current assets | 29/58 | €205,983 | €92,250 | -€113,733 | -55.2% |
| Stocks and contracts in progress | 3 | €23,914 | €23,914 | = | 0.0% |
| Contracts in progress | 37 | €23,914 | €23,914 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €27,776 | €29,903 | +€2,127 | +7.7% |
| Trade receivables | 40 | €20,900 | €28,021 | +€7,121 | +34.1% |
| Other amounts receivable | 41 | €6,876 | €1,882 | -€4,994 | -72.6% |
| Cash at bank and in hand | 54/58 | €153,935 | €37,994 | -€115,941 | -75.3% |
| Deferred charges and accrued income | 490/1 | €358 | €438 | +€81 | +22.5% |
| Total equity and liabilities | 10/49 | €284,840 | €169,471 | -€115,368 | -40.5% |
| Equity | 10/15 | €209,442 | €59,441 | -€150,001 | -71.6% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Profit (loss) carried forward | 14 | €209,441 | €59,440 | -€150,001 | -71.6% |
| Amounts payable | 17/49 | €75,398 | €110,030 | +€34,632 | +45.9% |
| Amounts payable after more than one year | 17 | €34,698 | €37,088 | +€2,390 | +6.9% |
| Financial debts | 170/4 | €34,698 | €37,088 | +€2,390 | +6.9% |
| Amounts payable within one year | 42/48 | €40,700 | €72,943 | +€32,243 | +79.2% |
| Current portion of amounts payable after more than one year | 42 | €23,093 | €13,785 | -€9,308 | -40.3% |
| Trade debts | 44 | €6,935 | €17,897 | +€10,962 | +158.1% |
| Suppliers | 440/4 | €6,935 | €17,897 | +€10,962 | +158.1% |
| Taxes, remuneration and social security | 45 | €5,469 | €2,740 | -€2,729 | -49.9% |
| Taxes | 450/3 | €4,018 | €2,739 | -€1,280 | -31.9% |
| Remuneration and social security | 454/9 | €1,450 | €1 | -€1,449 | -99.9% |
| Other amounts payable | 47/48 | €5,204 | €38,521 | +€33,317 | +640.2% |
| Non-recurring operating income | 76A | €1,818 | €0 | -€1,818 | -100.0% |
| Remuneration, social security and pensions | 62 | €66,157 | €82,591 | +€16,434 | +24.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,297 | €31,375 | +€8,078 | +34.7% |
| Other operating charges | 640/8 | €1,209 | €1,285 | +€76 | +6.3% |
| Non-recurring operating charges | 66A | - | €1,800 | +€1,800 | |
| Gross operating margin | 9900 | €174,592 | €193,969 | +€19,377 | +11.1% |
| Operating profit (loss) | 9901 | €83,929 | €76,917 | -€7,012 | -8.4% |
| Financial income | 75/76B | €1,144 | €1,760 | +€615 | +53.8% |
| Recurring financial income | 75 | €1,144 | €1,760 | +€615 | +53.8% |
| Financial charges | 65/66B | €2,500 | €3,031 | +€531 | +21.2% |
| Recurring financial charges | 65 | €2,500 | €3,031 | +€531 | +21.2% |
| Profit (loss) for the period before taxes | 9903 | €82,573 | €75,645 | -€6,928 | -8.4% |
| Income taxes | 67/77 | €16,533 | €16,205 | -€328 | -2.0% |
| Profit (loss) for the period | 9904 | €66,040 | €59,440 | -€6,599 | -10.0% |
| Profit (loss) for the period to be appropriated | 9905 | €66,040 | €59,440 | -€6,599 | -10.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.