MXK: 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.
MXK
Largest movements
- Receivables within one year +€93,469
up €93,469 (+51.7%), from €180,815 to €274,284
of which Other amounts receivable: +€61,308
- Stocks and contracts +€28,636
new in 2025: €28,636
- Tangible fixed assets +€18,517
up €18,517 (+53.2%), from €34,776 to €53,293
of which Plant, machinery and equipment: +€17,361
- Cash -€5,348
down €5,348 (-64.0%), from €8,355 to €3,007
mainly Receivables within one year (-€93,469) and Investment in fixed assets (net) (-€31,471)
- Trade debts +€69,147
up €69,147 (+137%), from €50,506 to €119,654
- Debts after one year +€44,137
up €44,137 (+334%), from €13,211 to €57,348
- Short-term financial debts +€12,733
up €12,733 (+4,011%), from €317 to €13,050
- Reserves +€8,232
up €8,232 (+11.6%), from €71,247 to €79,478
- Gross operating margin -€47,355
down €47,355 (-34.8%), from €136,083 to €88,728
- Staff costs -€10,735
down €10,735 (-16.1%), from €66,582 to €55,847
- Taxes -€8,658
down €8,658 (-65.7%), from €13,188 to €4,529
- Financial charges -€2,586
down €2,586 (-28.5%), from €9,059 to €6,473
- Other operating charges -€2,227
down €2,227 (-39.0%), from €5,715 to €3,488
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 | €227,506 | €365,232 | +€137,726 | +60.5% |
| Fixed assets | 21/28 | €34,776 | €53,293 | +€18,517 | +53.2% |
| Tangible fixed assets | 22/27 | €34,776 | €53,293 | +€18,517 | +53.2% |
| Plant, machinery and equipment | 23 | €15,966 | €33,326 | +€17,361 | +109% |
| Furniture and vehicles | 24 | €18,810 | €19,967 | +€1,157 | +6.1% |
| Current assets | 29/58 | €192,730 | €311,939 | +€119,209 | +61.9% |
| Stocks and contracts in progress | 3 | - | €28,636 | +€28,636 | |
| Stocks | 30/36 | - | €28,636 | +€28,636 | |
| Amounts receivable within one year | 40/41 | €180,815 | €274,284 | +€93,469 | +51.7% |
| Trade receivables | 40 | €73,458 | €105,619 | +€32,161 | +43.8% |
| Other amounts receivable | 41 | €107,358 | €168,666 | +€61,308 | +57.1% |
| Cash at bank and in hand | 54/58 | €8,355 | €3,007 | -€5,348 | -64.0% |
| Deferred charges and accrued income | 490/1 | €3,559 | €6,012 | +€2,452 | +68.9% |
| Total equity and liabilities | 10/49 | €227,506 | €365,232 | +€137,726 | +60.5% |
| Equity | 10/15 | €111,088 | €119,319 | +€8,232 | +7.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €71,247 | €79,478 | +€8,232 | +11.6% |
| Distributable reserves | 133 | €71,247 | €79,478 | +€8,232 | +11.6% |
| Profit (loss) carried forward | 14 | €21,241 | €21,241 | = | 0.0% |
| Amounts payable | 17/49 | €116,419 | €245,913 | +€129,494 | +111% |
| Amounts payable after more than one year | 17 | €13,211 | €57,348 | +€44,137 | +334% |
| Financial debts | 170/4 | €13,211 | €57,348 | +€44,137 | +334% |
| Amounts payable within one year | 42/48 | €103,208 | €188,565 | +€85,357 | +82.7% |
| Current portion of amounts payable after more than one year | 42 | €19,019 | €19,938 | +€919 | +4.8% |
| Financial debts | 43 | €317 | €13,050 | +€12,733 | +4,011% |
| Credit institutions | 430/8 | €317 | €13,050 | +€12,733 | +4,011% |
| Trade debts | 44 | €50,506 | €119,654 | +€69,147 | +137% |
| Suppliers | 440/4 | €50,506 | €119,654 | +€69,147 | +137% |
| Taxes, remuneration and social security | 45 | €19,968 | €22,784 | +€2,816 | +14.1% |
| Taxes | 450/3 | €19,707 | €16,927 | -€2,780 | -14.1% |
| Remuneration and social security | 454/9 | €261 | €5,857 | +€5,596 | +2,144% |
| Other amounts payable | 47/48 | €13,396 | €13,139 | -€258 | -1.9% |
| Non-recurring operating income | 76A | - | €1 | +€1 | |
| Remuneration, social security and pensions | 62 | €66,582 | €55,847 | -€10,735 | -16.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,542 | €12,954 | -€1,588 | -10.9% |
| Other operating charges | 640/8 | €5,715 | €3,488 | -€2,227 | -39.0% |
| Gross operating margin | 9900 | €136,083 | €88,728 | -€47,355 | -34.8% |
| Operating profit (loss) | 9901 | €49,245 | €16,440 | -€32,805 | -66.6% |
| Financial income | 75/76B | €2,881 | €2,794 | -€87 | -3.0% |
| Recurring financial income | 75 | €2,881 | €2,794 | -€87 | -3.0% |
| Financial charges | 65/66B | €9,059 | €6,473 | -€2,586 | -28.5% |
| Recurring financial charges | 65 | €9,059 | €6,473 | -€2,586 | -28.5% |
| Profit (loss) for the period before taxes | 9903 | €43,067 | €12,761 | -€30,306 | -70.4% |
| Income taxes | 67/77 | €13,188 | €4,529 | -€8,658 | -65.7% |
| Profit (loss) for the period | 9904 | €29,880 | €8,232 | -€21,648 | -72.4% |
| Profit (loss) for the period to be appropriated | 9905 | €29,880 | €8,232 | -€21,648 | -72.4% |
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 16 October 2026 via checked.be.