MRD Selection: 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.
MRD Selection
Largest movements
- Receivables within one year -€5,465
down €5,465 (-18.2%), from €30,053 to €24,587
of which Other amounts receivable: -€5,877
- Deferred charges and accrued income +€415
up €415 (+58.5%), from €709 to €1,124
- Profit (loss) carried forward -€19,537
down €19,537 (-33.3%), from -€58,611 to -€78,148
- Other debts +€12,250
up €12,250 (+24.8%), from €49,314 to €61,565
- Trade debts +€2,177
up €2,177 (+37.9%), from €5,743 to €7,921
- Financial income -€11,483
down €11,483 (-98.6%), from €11,642 to €158
of which Non-recurring financial income: -€11,180
- Gross operating margin +€4,406
up €4,406 (+22.6%), from -€19,506 to -€15,100
- Other operating charges -€818
down €818 (-38.7%), from €2,114 to €1,297
- Financial charges -€375
down €375 (-11.8%), from €3,184 to €2,809
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 | €31,241 | €25,902 | -€5,338 | -17.1% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €433 | €191 | -€242 | -55.9% |
| Tangible fixed assets | 22/27 | €433 | €191 | -€242 | -55.9% |
| Plant, machinery and equipment | 23 | €433 | €191 | -€242 | -55.9% |
| Current assets | 29/58 | €30,808 | €25,712 | -€5,096 | -16.5% |
| Amounts receivable within one year | 40/41 | €30,053 | €24,587 | -€5,465 | -18.2% |
| Trade receivables | 40 | €6,315 | €6,726 | +€411 | +6.5% |
| Other amounts receivable | 41 | €23,738 | €17,861 | -€5,877 | -24.8% |
| Cash at bank and in hand | 54/58 | €46 | €0 | -€45 | -99.6% |
| Deferred charges and accrued income | 490/1 | €709 | €1,124 | +€415 | +58.5% |
| Total equity and liabilities | 10/49 | €31,241 | €25,902 | -€5,338 | -17.1% |
| Equity | 10/15 | -€24,293 | -€43,830 | -€19,537 | -80.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €28,118 | €28,118 | = | 0.0% |
| Distributable reserves | 133 | €28,118 | €28,118 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€58,611 | -€78,148 | -€19,537 | -33.3% |
| Amounts payable | 17/49 | €55,534 | €69,732 | +€14,198 | +25.6% |
| Amounts payable within one year | 42/48 | €55,534 | €69,732 | +€14,198 | +25.6% |
| Trade debts | 44 | €5,743 | €7,921 | +€2,177 | +37.9% |
| Suppliers | 440/4 | €5,743 | €7,921 | +€2,177 | +37.9% |
| Taxes, remuneration and social security | 45 | €476 | €247 | -€229 | -48.1% |
| Taxes | 450/3 | €476 | €247 | -€229 | -48.1% |
| Other amounts payable | 47/48 | €49,314 | €61,565 | +€12,250 | +24.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €242 | €242 | = | 0.0% |
| Other operating charges | 640/8 | €2,114 | €1,297 | -€818 | -38.7% |
| Gross operating margin | 9900 | -€19,506 | -€15,100 | +€4,406 | +22.6% |
| Operating profit (loss) | 9901 | -€21,863 | -€16,639 | +€5,224 | +23.9% |
| Financial income | 75/76B | €11,642 | €158 | -€11,483 | -98.6% |
| Recurring financial income | 75 | €461 | €158 | -€303 | -65.7% |
| Non-recurring financial income | 76B | €11,180 | - | -€11,180 | |
| Financial charges | 65/66B | €3,184 | €2,809 | -€375 | -11.8% |
| Recurring financial charges | 65 | €3,184 | €2,809 | -€375 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | -€13,405 | -€19,289 | -€5,885 | -43.9% |
| Income taxes | 67/77 | €168 | €247 | +€79 | +47.0% |
| Profit (loss) for the period | 9904 | -€13,573 | -€19,537 | -€5,964 | -43.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,573 | -€19,537 | -€5,964 | -43.9% |
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.