mrcd: 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.
mrcd
Largest movements
- Receivables within one year -€16,089
down €16,089 (-77.0%), from €20,900 to €4,811
of which Other amounts receivable: -€15,791
- Tangible fixed assets -€12,416
down €12,416 (-7.2%), from €172,315 to €159,899
of which Land and buildings: -€11,437
- Cash -€4,128
down €4,128 (-15.7%), from €26,217 to €22,089
mainly Debts after one year (-€95,787) and Current portion of long-term debt (-€14,236)
- Debts after one year -€95,787
down €95,787 (-19.3%), from €495,787 to €400,000
- Other debts +€60,136
new in 2025: €60,136
- Current portion of long-term debt -€14,236
no longer reported in 2025 (was €14,236)
- Profit (loss) carried forward +€10,154
up €10,154 (+0.6%), from -€1.6m to -€1.6m
- Trade debts +€6,474
new in 2025: €6,474
- Gross operating margin +€4,050
up €4,050 (+9.7%), from €41,603 to €45,653
- Financial charges -€3,869
down €3,869 (-20.3%), from €19,043 to €15,174
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 | €221,946 | €188,970 | -€32,977 | -14.9% |
| Fixed assets | 21/28 | €173,888 | €161,173 | -€12,715 | -7.3% |
| Intangible fixed assets | 21 | €572 | €273 | -€299 | -52.2% |
| Tangible fixed assets | 22/27 | €172,315 | €159,899 | -€12,416 | -7.2% |
| Land and buildings | 22 | €164,917 | €153,480 | -€11,437 | -6.9% |
| Plant, machinery and equipment | 23 | €6,680 | €5,971 | -€709 | -10.6% |
| Furniture and vehicles | 24 | €719 | €448 | -€270 | -37.6% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €48,059 | €27,797 | -€20,262 | -42.2% |
| Amounts receivable within one year | 40/41 | €20,900 | €4,811 | -€16,089 | -77.0% |
| Trade receivables | 40 | €4,690 | €4,392 | -€298 | -6.4% |
| Other amounts receivable | 41 | €16,210 | €419 | -€15,791 | -97.4% |
| Cash at bank and in hand | 54/58 | €26,217 | €22,089 | -€4,128 | -15.7% |
| Deferred charges and accrued income | 490/1 | €942 | €897 | -€44 | -4.7% |
| Total equity and liabilities | 10/49 | €221,946 | €188,970 | -€32,977 | -14.9% |
| Equity | 10/15 | -€289,217 | -€279,063 | +€10,154 | +3.5% |
| Contributions | 10/11 | €1,313,836 | €1,313,836 | = | 0.0% |
| Capital | 10 | €1,313,836 | €1,313,836 | = | 0.0% |
| Issued capital | 100 | €1,313,836 | €1,313,836 | = | 0.0% |
| Reserves | 13 | €31,000 | €31,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €31,000 | €31,000 | = | 0.0% |
| Legal reserve | 130 | €31,000 | €31,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,634,053 | -€1,623,898 | +€10,154 | +0.6% |
| Amounts payable | 17/49 | €511,163 | €468,032 | -€43,131 | -8.4% |
| Amounts payable after more than one year | 17 | €495,787 | €400,000 | -€95,787 | -19.3% |
| Other amounts payable | 178/9 | €495,787 | €400,000 | -€95,787 | -19.3% |
| Amounts payable within one year | 42/48 | €14,989 | €67,632 | +€52,644 | +351.2% |
| Current portion of amounts payable after more than one year | 42 | €14,236 | - | -€14,236 | |
| Trade debts | 44 | - | €6,474 | +€6,474 | |
| Suppliers | 440/4 | - | €6,474 | +€6,474 | |
| Taxes, remuneration and social security | 45 | €753 | €1,023 | +€270 | +35.8% |
| Taxes | 450/3 | €753 | €1,023 | +€270 | +35.8% |
| Other amounts payable | 47/48 | - | €60,136 | +€60,136 | |
| Accrued charges and deferred income | 492/3 | €387 | €400 | +€12 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,430 | €12,715 | +€285 | +2.3% |
| Other operating charges | 640/8 | €6,986 | €7,376 | +€390 | +5.6% |
| Gross operating margin | 9900 | €41,603 | €45,653 | +€4,050 | +9.7% |
| Operating profit (loss) | 9901 | €22,186 | €25,562 | +€3,376 | +15.2% |
| Financial income | 75/76B | €523 | €182 | -€342 | -65.3% |
| Recurring financial income | 75 | €523 | €182 | -€342 | -65.3% |
| Financial charges | 65/66B | €19,043 | €15,174 | -€3,869 | -20.3% |
| Recurring financial charges | 65 | €19,043 | €15,174 | -€3,869 | -20.3% |
| Profit (loss) for the period before taxes | 9903 | €3,666 | €10,570 | +€6,904 | +188.3% |
| Income taxes | 67/77 | €422 | €415 | -€7 | -1.6% |
| Profit (loss) for the period | 9904 | €3,244 | €10,154 | +€6,911 | +213.1% |
| Profit (loss) for the period to be appropriated | 9905 | €3,244 | €10,154 | +€6,911 | +213.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.