MRN Group: 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.
MRN Group
Largest movements
- Tangible fixed assets +€102,964
up €102,964 (+366%), from €28,143 to €131,107
of which Leasing and similar rights: +€56,509
- Cash +€4,853
up €4,853 (+103%), from €4,694 to €9,547
mainly Net result for the year (+€40,496) and Debts after one year (+€39,084)
- Deferred charges and accrued income -€2,347
down €2,347 (-50.3%), from €4,661 to €2,315
- Debts after one year +€39,084
new in 2025: €39,084
- Profit (loss) carried forward +€38,778
up €38,778 (+130%), from €29,775 to €68,553
- Trade debts +€14,004
up €14,004 (+56.9%), from €24,613 to €38,617
- Current portion of long-term debt +€11,895
new in 2025: €11,895
- Other debts +€4,270
new in 2025: €4,270
- Gross operating margin +€65,948
up €65,948 (+261%), from €25,270 to €91,218
- Depreciation +€14,338
up €14,338 (+566%), from €2,535 to €16,873
- Taxes +€6,649
up €6,649 (+139%), from €4,785 to €11,434
- Financial charges +€5,005
up €5,005 (+2,062%), from €243 to €5,248
- Staff costs +€3,986
new in 2025: €3,986
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 | €60,596 | €165,746 | +€105,150 | +174% |
| Fixed assets | 21/28 | €28,143 | €131,107 | +€102,964 | +366% |
| Tangible fixed assets | 22/27 | €28,143 | €131,107 | +€102,964 | +366% |
| Plant, machinery and equipment | 23 | €12,066 | €14,397 | +€2,331 | +19.3% |
| Furniture and vehicles | 24 | €16,077 | €60,200 | +€44,123 | +274% |
| Leasing and similar rights | 25 | - | €56,509 | +€56,509 | |
| Current assets | 29/58 | €32,453 | €34,639 | +€2,186 | +6.7% |
| Amounts receivable within one year | 40/41 | €23,097 | €22,777 | -€320 | -1.4% |
| Trade receivables | 40 | €18,612 | €8,519 | -€10,093 | -54.2% |
| Other amounts receivable | 41 | €4,485 | €14,258 | +€9,773 | +218% |
| Cash at bank and in hand | 54/58 | €4,694 | €9,547 | +€4,853 | +103% |
| Deferred charges and accrued income | 490/1 | €4,661 | €2,315 | -€2,347 | -50.3% |
| Total equity and liabilities | 10/49 | €60,596 | €165,746 | +€105,150 | +174% |
| Equity | 10/15 | €31,775 | €70,553 | +€38,778 | +122% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,775 | €68,553 | +€38,778 | +130% |
| Amounts payable | 17/49 | €28,820 | €95,192 | +€66,372 | +230% |
| Amounts payable after more than one year | 17 | - | €39,084 | +€39,084 | |
| Financial debts | 170/4 | - | €39,084 | +€39,084 | |
| Amounts payable within one year | 42/48 | €28,820 | €56,108 | +€27,288 | +94.7% |
| Current portion of amounts payable after more than one year | 42 | - | €11,895 | +€11,895 | |
| Trade debts | 44 | €24,613 | €38,617 | +€14,004 | +56.9% |
| Suppliers | 440/4 | €24,613 | €38,617 | +€14,004 | +56.9% |
| Taxes, remuneration and social security | 45 | €4,207 | €1,326 | -€2,881 | -68.5% |
| Taxes | 450/3 | €3,707 | - | -€3,707 | |
| Remuneration and social security | 454/9 | €500 | €1,326 | +€826 | +165% |
| Other amounts payable | 47/48 | - | €4,270 | +€4,270 | |
| Remuneration, social security and pensions | 62 | - | €3,986 | +€3,986 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,535 | €16,873 | +€14,338 | +566% |
| Other operating charges | 640/8 | €341 | €2,501 | +€2,160 | +634% |
| Non-recurring operating charges | 66A | - | €10,680 | +€10,680 | |
| Gross operating margin | 9900 | €25,270 | €91,218 | +€65,948 | +261% |
| Operating profit (loss) | 9901 | €22,394 | €57,178 | +€34,784 | +155% |
| Financial income | 75/76B | €43 | - | -€43 | |
| Recurring financial income | 75 | €43 | - | -€43 | |
| Financial charges | 65/66B | €243 | €5,248 | +€5,005 | +2,062% |
| Recurring financial charges | 65 | €243 | €5,248 | +€5,005 | +2,062% |
| Profit (loss) for the period before taxes | 9903 | €22,194 | €51,930 | +€29,736 | +134% |
| Income taxes | 67/77 | €4,785 | €11,434 | +€6,649 | +139% |
| Profit (loss) for the period | 9904 | €17,409 | €40,496 | +€23,087 | +133% |
| Profit (loss) for the period to be appropriated | 9905 | €17,409 | €40,496 | +€23,087 | +133% |
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 13 October 2026 via checked.be.