MRE: 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.
MRE
Largest movements
- Tangible fixed assets -€12,766
down €12,766 (-30.6%), from €41,704 to €28,939
of which Furniture and vehicles: -€12,590
- Receivables within one year +€9,467
up €9,467 (+138%), from €6,867 to €16,334
of which Trade receivables: +€7,556
- Stocks and contracts -€6,000
down €6,000 (-44.3%), from €13,550 to €7,550
- Cash +€4,059
new in 2025: €4,059
mainly Depreciation (+€12,766) and Trade debts (+€9,117)
- Trade debts +€9,117
up €9,117 (+173%), from €5,284 to €14,401
- Debts after one year -€5,000
down €5,000 (-15.4%), from €32,510 to €27,510
- Short-term financial debts -€4,850
no longer reported in 2025 (was €4,850)
- Tax, wage and social debts -€2,401
down €2,401 (-75.3%), from €3,191 to €789
- Other debts -€2,205
down €2,205 (-42.4%), from €5,196 to €2,991
- Gross operating margin -€3,707
down €3,707 (-16.5%), from €22,493 to €18,785
- Taxes -€446
down €446 (-17.9%), from €2,485 to €2,039
- Financial charges -€350
down €350 (-31.8%), from €1,102 to €752
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 | €65,048 | €59,873 | -€5,175 | -8.0% |
| Fixed assets | 21/28 | €42,093 | €29,328 | -€12,766 | -30.3% |
| Tangible fixed assets | 22/27 | €41,704 | €28,939 | -€12,766 | -30.6% |
| Plant, machinery and equipment | 23 | €1,389 | €1,213 | -€175 | -12.6% |
| Furniture and vehicles | 24 | €40,316 | €27,725 | -€12,590 | -31.2% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Financial fixed assets | 28 | €389 | €389 | = | 0.0% |
| Current assets | 29/58 | €22,954 | €30,545 | +€7,590 | +33.1% |
| Stocks and contracts in progress | 3 | €13,550 | €7,550 | -€6,000 | -44.3% |
| Contracts in progress | 37 | €13,550 | €7,550 | -€6,000 | -44.3% |
| Amounts receivable within one year | 40/41 | €6,867 | €16,334 | +€9,467 | +138% |
| Trade receivables | 40 | €6,867 | €14,424 | +€7,556 | +110% |
| Other amounts receivable | 41 | - | €1,911 | +€1,911 | |
| Cash at bank and in hand | 54/58 | - | €4,059 | +€4,059 | |
| Deferred charges and accrued income | 490/1 | €2,537 | €2,602 | +€64 | +2.5% |
| Total equity and liabilities | 10/49 | €65,048 | €59,873 | -€5,175 | -8.0% |
| Equity | 10/15 | €14,017 | €14,182 | +€164 | +1.2% |
| Contributions | 10/11 | €51,000 | €51,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€36,983 | -€36,818 | +€164 | +0.4% |
| Amounts payable | 17/49 | €51,030 | €45,691 | -€5,339 | -10.5% |
| Amounts payable after more than one year | 17 | €32,510 | €27,510 | -€5,000 | -15.4% |
| Other amounts payable | 178/9 | €32,510 | €27,510 | -€5,000 | -15.4% |
| Amounts payable within one year | 42/48 | €18,520 | €18,181 | -€339 | -1.8% |
| Financial debts | 43 | €4,850 | - | -€4,850 | |
| Credit institutions | 430/8 | €4,850 | - | -€4,850 | |
| Trade debts | 44 | €5,284 | €14,401 | +€9,117 | +173% |
| Suppliers | 440/4 | €5,284 | €14,401 | +€9,117 | +173% |
| Taxes, remuneration and social security | 45 | €3,191 | €789 | -€2,401 | -75.3% |
| Taxes | 450/3 | €3,191 | €789 | -€2,401 | -75.3% |
| Other amounts payable | 47/48 | €5,196 | €2,991 | -€2,205 | -42.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,777 | €12,766 | -€12 | -0.1% |
| Other operating charges | 640/8 | €2,880 | €3,074 | +€194 | +6.7% |
| Gross operating margin | 9900 | €22,493 | €18,785 | -€3,707 | -16.5% |
| Operating profit (loss) | 9901 | €6,836 | €2,946 | -€3,890 | -56.9% |
| Financial income | 75/76B | €8 | €9 | +€1 | +18.6% |
| Recurring financial income | 75 | €8 | €9 | +€1 | +18.6% |
| Financial charges | 65/66B | €1,102 | €752 | -€350 | -31.8% |
| Recurring financial charges | 65 | €1,102 | €752 | -€350 | -31.8% |
| Profit (loss) for the period before taxes | 9903 | €5,741 | €2,203 | -€3,538 | -61.6% |
| Income taxes | 67/77 | €2,485 | €2,039 | -€446 | -17.9% |
| Profit (loss) for the period | 9904 | €3,256 | €164 | -€3,092 | -95.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,256 | €164 | -€3,092 | -95.0% |
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 17 October 2026 via checked.be.