MLC: 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.
MLC
Largest movements
- Receivables within one year -€139,150
down €139,150 (-95.0%), from €146,410 to €7,260
of which Trade receivables: -€139,150
- Current investments -€25,069
down €25,069 (-17.9%), from €139,701 to €114,631
- Tangible fixed assets -€24,517
down €24,517 (-9.8%), from €250,609 to €226,091
of which Leasing and similar rights: -€27,650
- Cash -€9,323
down €9,323 (-12.6%), from €74,265 to €64,942
mainly Contributions, distributions and other (-€310,588) and Other debts (-€74,609)
- Other debts -€74,609
down €74,609 (-58.4%), from €127,646 to €53,037
- Short-term financial debts -€49,964
down €49,964 (-71.2%), from €70,163 to €20,199
- Debts after one year -€38,288
down €38,288 (-75.3%), from €50,855 to €12,567
- Tax, wage and social debts -€27,464
down €27,464 (-64.1%), from €42,873 to €15,409
- Current portion of long-term debt -€11,730
down €11,730 (-23.5%), from €50,018 to €38,288
- Gross operating margin -€54,038
down €54,038 (-10.6%), from €509,949 to €455,911
- Taxes -€12,221
down €12,221 (-10.0%), from €122,777 to €110,557
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 | €615,669 | €417,008 | -€198,662 | -32.3% |
| Fixed assets | 21/28 | €250,609 | €226,091 | -€24,517 | -9.8% |
| Tangible fixed assets | 22/27 | €250,609 | €226,091 | -€24,517 | -9.8% |
| Plant, machinery and equipment | 23 | €1,005 | €461 | -€544 | -54.1% |
| Furniture and vehicles | 24 | €195,455 | €199,131 | +€3,677 | +1.9% |
| Leasing and similar rights | 25 | €54,149 | €26,499 | -€27,650 | -51.1% |
| Current assets | 29/58 | €365,061 | €190,916 | -€174,145 | -47.7% |
| Amounts receivable within one year | 40/41 | €146,410 | €7,260 | -€139,150 | -95.0% |
| Trade receivables | 40 | €146,410 | €7,260 | -€139,150 | -95.0% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €139,701 | €114,631 | -€25,069 | -17.9% |
| Cash at bank and in hand | 54/58 | €74,265 | €64,942 | -€9,323 | -12.6% |
| Deferred charges and accrued income | 490/1 | €4,686 | €4,083 | -€603 | -12.9% |
| Total equity and liabilities | 10/49 | €615,669 | €417,008 | -€198,662 | -32.3% |
| Equity | 10/15 | €273,116 | €269,729 | -€3,387 | -1.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €254,516 | €251,129 | -€3,387 | -1.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €254,516 | €251,129 | -€3,387 | -1.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €342,554 | €147,278 | -€195,275 | -57.0% |
| Amounts payable after more than one year | 17 | €50,855 | €12,567 | -€38,288 | -75.3% |
| Financial debts | 170/4 | €50,855 | €12,567 | -€38,288 | -75.3% |
| Amounts payable within one year | 42/48 | €291,699 | €134,711 | -€156,987 | -53.8% |
| Current portion of amounts payable after more than one year | 42 | €50,018 | €38,288 | -€11,730 | -23.5% |
| Financial debts | 43 | €70,163 | €20,199 | -€49,964 | -71.2% |
| Credit institutions | 430/8 | €70,163 | €20,199 | -€49,964 | -71.2% |
| Trade debts | 44 | €999 | €7,779 | +€6,779 | +678% |
| Suppliers | 440/4 | €999 | €7,779 | +€6,779 | +678% |
| Taxes, remuneration and social security | 45 | €42,873 | €15,409 | -€27,464 | -64.1% |
| Taxes | 450/3 | €42,873 | €15,409 | -€27,464 | -64.1% |
| Other amounts payable | 47/48 | €127,646 | €53,037 | -€74,609 | -58.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,845 | €28,802 | -€43 | -0.1% |
| Other operating charges | 640/8 | €4,690 | €4,058 | -€632 | -13.5% |
| Gross operating margin | 9900 | €509,949 | €455,911 | -€54,038 | -10.6% |
| Operating profit (loss) | 9901 | €476,415 | €423,052 | -€53,363 | -11.2% |
| Financial income | 75/76B | €84 | €28 | -€56 | -67.0% |
| Recurring financial income | 75 | €84 | €28 | -€56 | -67.0% |
| Financial charges | 65/66B | €5,613 | €5,321 | -€292 | -5.2% |
| Recurring financial charges | 65 | €5,613 | €5,321 | -€292 | -5.2% |
| Profit (loss) for the period before taxes | 9903 | €470,886 | €417,758 | -€53,128 | -11.3% |
| Income taxes | 67/77 | €122,777 | €110,557 | -€12,221 | -10.0% |
| Profit (loss) for the period | 9904 | €348,109 | €307,202 | -€40,907 | -11.8% |
| Profit (loss) for the period to be appropriated | 9905 | €348,109 | €307,202 | -€40,907 | -11.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.