MCSF: 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.
MCSF
Largest movements
- Cash +€38,400
up €38,400 (+89.6%), from €42,836 to €81,236
mainly Net result for the year (+€52,415) and Current investments (+€15,000)
- Current investments -€15,000
down €15,000 (-16.7%), from €90,000 to €75,000
- Receivables within one year +€13,730
up €13,730 (+70.2%), from €19,547 to €33,278
of which Trade receivables: +€11,422
- Reserves +€52,415
up €52,415 (+44.2%), from €118,513 to €170,928
- Other debts -€7,623
down €7,623 (-100%), from €7,623 to €0
- Accrued charges and deferred income -€5,118
down €5,118 (-94.9%), from €5,391 to €273
- Tax, wage and social debts -€3,316
down €3,316 (-20.9%), from €15,902 to €12,586
- Gross operating margin -€34,100
down €34,100 (-32.8%), from €104,085 to €69,985
- Taxes +€11,973
up €11,973 (+336%), from €3,567 to €15,541
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 | €152,429 | €190,187 | +€37,758 | +24.8% |
| Fixed assets | 21/28 | €0 | €674 | +€674 | |
| Tangible fixed assets | 22/27 | €0 | €674 | +€674 | |
| Furniture and vehicles | 24 | €0 | €674 | +€674 | |
| Current assets | 29/58 | €152,429 | €189,514 | +€37,084 | +24.3% |
| Amounts receivable within one year | 40/41 | €19,547 | €33,278 | +€13,730 | +70.2% |
| Trade receivables | 40 | €19,544 | €30,965 | +€11,422 | +58.4% |
| Other amounts receivable | 41 | €4 | €2,312 | +€2,309 | +61,892% |
| Current investments | 50/53 | €90,000 | €75,000 | -€15,000 | -16.7% |
| Cash at bank and in hand | 54/58 | €42,836 | €81,236 | +€38,400 | +89.6% |
| Deferred charges and accrued income | 490/1 | €46 | €0 | -€46 | -100% |
| Total equity and liabilities | 10/49 | €152,429 | €190,187 | +€37,758 | +24.8% |
| Equity | 10/15 | €123,513 | €175,928 | +€52,415 | +42.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €118,513 | €170,928 | +€52,415 | +44.2% |
| Distributable reserves | 133 | €118,513 | €170,928 | +€52,415 | +44.2% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €28,916 | €14,259 | -€14,657 | -50.7% |
| Amounts payable within one year | 42/48 | €23,525 | €13,986 | -€9,539 | -40.5% |
| Trade debts | 44 | €0 | €1,400 | +€1,400 | |
| Suppliers | 440/4 | €0 | €1,400 | +€1,400 | |
| Taxes, remuneration and social security | 45 | €15,902 | €12,586 | -€3,316 | -20.9% |
| Taxes | 450/3 | €15,902 | €12,586 | -€3,316 | -20.9% |
| Other amounts payable | 47/48 | €7,623 | €0 | -€7,623 | -100% |
| Accrued charges and deferred income | 492/3 | €5,391 | €273 | -€5,118 | -94.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40 | €309 | +€268 | +667% |
| Other operating charges | 640/8 | €2,271 | €2,430 | +€158 | +7.0% |
| Gross operating margin | 9900 | €104,085 | €69,985 | -€34,100 | -32.8% |
| Operating profit (loss) | 9901 | €101,774 | €67,247 | -€34,527 | -33.9% |
| Financial income | 75/76B | €363 | €1,211 | +€848 | +234% |
| Recurring financial income | 75 | €363 | €1,211 | +€848 | +234% |
| Financial charges | 65/66B | €994 | €502 | -€492 | -49.5% |
| Recurring financial charges | 65 | €994 | €502 | -€492 | -49.5% |
| Profit (loss) for the period before taxes | 9903 | €101,143 | €67,956 | -€33,187 | -32.8% |
| Income taxes | 67/77 | €3,567 | €15,541 | +€11,973 | +336% |
| Profit (loss) for the period | 9904 | €97,575 | €52,415 | -€45,160 | -46.3% |
| Profit (loss) for the period to be appropriated | 9905 | €97,575 | €52,415 | -€45,160 | -46.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.