MRE CONSULT: 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 CONSULT
Largest movements
- Tangible fixed assets -€252,656
down €252,656 (-37.7%), from €669,716 to €417,060
of which Land and buildings: -€244,031
- Financial fixed assets +€200,000
new in 2025: €200,000
- Cash +€42,793
up €42,793 (+912.6%), from €4,689 to €47,482
mainly Other debts (+€155,189) and Investment in fixed assets (net) (+€30,623)
- Receivables within one year +€8,593
up €8,593 (+84.5%), from €10,165 to €18,758
of which Trade receivables: +€17,784
- Other debts +€155,189
up €155,189 (+370.7%), from €41,860 to €197,049
- Debts after one year -€154,981
down €154,981 (-52.4%), from €295,954 to €140,972
of which Financial debts: -€154,981
- Current portion of long-term debt -€30,481
down €30,481 (-49.2%), from €61,952 to €31,471
- Tax, wage and social debts +€13,706
up €13,706 (+503.3%), from €2,723 to €16,429
of which Taxes: +€14,349
- Reserves +€12,863
up €12,863 (+4.7%), from €271,793 to €284,656
- Depreciation -€18,067
down €18,067 (-45.1%), from €40,100 to €22,033
- Gross operating margin +€17,429
up €17,429 (+30.0%), from €58,109 to €75,537
- Financial charges +€7,294
up €7,294 (+66.7%), from €10,934 to €18,228
- Taxes +€3,503
up €3,503 (+1810.7%), from €193 to €3,696
- Other operating charges +€1,936
up €1,936 (+49.1%), from €3,938 to €5,874
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 | €686,671 | €687,821 | +€1,150 | +0.2% |
| Fixed assets | 21/28 | €669,716 | €617,060 | -€52,656 | -7.9% |
| Tangible fixed assets | 22/27 | €669,716 | €417,060 | -€252,656 | -37.7% |
| Land and buildings | 22 | €644,053 | €400,022 | -€244,031 | -37.9% |
| Plant, machinery and equipment | 23 | €22,064 | €15,317 | -€6,747 | -30.6% |
| Furniture and vehicles | 24 | €3,599 | €1,720 | -€1,878 | -52.2% |
| Financial fixed assets | 28 | - | €200,000 | +€200,000 | |
| Current assets | 29/58 | €16,956 | €70,762 | +€53,806 | +317.3% |
| Amounts receivable within one year | 40/41 | €10,165 | €18,758 | +€8,593 | +84.5% |
| Trade receivables | 40 | €608 | €18,392 | +€17,784 | +2924.5% |
| Other amounts receivable | 41 | €9,557 | €366 | -€9,191 | -96.2% |
| Current investments | 50/53 | €1 | €1 | +€0 | +2.0% |
| Cash at bank and in hand | 54/58 | €4,689 | €47,482 | +€42,793 | +912.6% |
| Deferred charges and accrued income | 490/1 | €2,101 | €4,521 | +€2,420 | +115.2% |
| Total equity and liabilities | 10/49 | €686,671 | €687,821 | +€1,150 | +0.2% |
| Equity | 10/15 | €277,993 | €290,856 | +€12,863 | +4.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €271,793 | €284,656 | +€12,863 | +4.7% |
| Distributable reserves | 133 | €271,793 | €284,656 | +€12,863 | +4.7% |
| Amounts payable | 17/49 | €408,678 | €396,965 | -€11,713 | -2.9% |
| Amounts payable after more than one year | 17 | €295,954 | €140,972 | -€154,981 | -52.4% |
| Financial debts | 170/4 | €275,954 | €120,972 | -€154,981 | -56.2% |
| Other amounts payable | 178/9 | €20,000 | €20,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €110,750 | €250,422 | +€139,672 | +126.1% |
| Current portion of amounts payable after more than one year | 42 | €61,952 | €31,471 | -€30,481 | -49.2% |
| Financial debts | 43 | €638 | €1,018 | +€381 | +59.6% |
| Credit institutions | 430/8 | €638 | €1,018 | +€381 | +59.6% |
| Trade debts | 44 | €3,576 | €4,454 | +€878 | +24.5% |
| Suppliers | 440/4 | €3,576 | €4,454 | +€878 | +24.5% |
| Taxes, remuneration and social security | 45 | €2,723 | €16,429 | +€13,706 | +503.3% |
| Taxes | 450/3 | - | €14,349 | +€14,349 | |
| Remuneration and social security | 454/9 | €2,723 | €2,080 | -€643 | -23.6% |
| Other amounts payable | 47/48 | €41,860 | €197,049 | +€155,189 | +370.7% |
| Accrued charges and deferred income | 492/3 | €1,975 | €5,571 | +€3,596 | +182.1% |
| Non-recurring operating income | 76A | - | €24,377 | +€24,377 | |
| Remuneration, social security and pensions | 62 | €13,643 | €12,842 | -€801 | -5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,100 | €22,033 | -€18,067 | -45.1% |
| Other operating charges | 640/8 | €3,938 | €5,874 | +€1,936 | +49.1% |
| Gross operating margin | 9900 | €58,109 | €75,537 | +€17,429 | +30.0% |
| Operating profit (loss) | 9901 | €428 | €34,788 | +€34,360 | +8034.9% |
| Financial income | 75/76B | €5 | €0 | -€5 | -99.8% |
| Recurring financial income | 75 | €5 | €0 | -€5 | -99.8% |
| Financial charges | 65/66B | €10,934 | €18,228 | +€7,294 | +66.7% |
| Recurring financial charges | 65 | €10,934 | €18,228 | +€7,294 | +66.7% |
| Profit (loss) for the period before taxes | 9903 | -€10,501 | €16,560 | +€27,061 | |
| Income taxes | 67/77 | €193 | €3,696 | +€3,503 | +1810.7% |
| Profit (loss) for the period | 9904 | -€10,695 | €12,863 | +€23,558 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,695 | €12,863 | +€23,558 |
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 12 October 2026 via checked.be.