MZL: 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.
MZL
Largest movements
- Receivables within one year +€69,952
up €69,952 (+84.7%), from €82,600 to €152,552
of which Other amounts receivable: +€54,430
- Tangible fixed assets -€12,909
down €12,909 (-6.9%), from €187,741 to €174,831
of which Land and buildings: -€8,137
- Stocks and contracts -€4,500
no longer reported in 2025 (was €4,500)
- Trade debts +€25,255
up €25,255 (+38.7%), from €65,282 to €90,537
- Current portion of long-term debt +€13,295
up €13,295 (+40.6%), from €32,713 to €46,008
- Debts after one year +€13,110
up €13,110 (+12.2%), from €107,566 to €120,675
- Profit (loss) carried forward +€5,474
up €5,474 (+9.9%), from €55,386 to €60,860
- Gross operating margin -€80,060
down €80,060 (-59.6%), from €134,435 to €54,375
- Staff costs -€67,126
down €67,126 (-75.6%), from €88,758 to €21,632
- Financial charges +€8,307
up €8,307 (+105%), from €7,907 to €16,214
- Taxes -€4,616
down €4,616 (-68.9%), from €6,699 to €2,083
- Other operating charges -€2,605
down €2,605 (-81.0%), from €3,215 to €610
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 | €308,651 | €362,334 | +€53,683 | +17.4% |
| Fixed assets | 21/28 | €215,448 | €199,338 | -€16,109 | -7.5% |
| Intangible fixed assets | 21 | €27,707 | €24,507 | -€3,200 | -11.5% |
| Tangible fixed assets | 22/27 | €187,741 | €174,831 | -€12,909 | -6.9% |
| Land and buildings | 22 | €181,576 | €173,438 | -€8,137 | -4.5% |
| Plant, machinery and equipment | 23 | €2,157 | €952 | -€1,204 | -55.9% |
| Furniture and vehicles | 24 | €4,009 | €441 | -€3,567 | -89.0% |
| Current assets | 29/58 | €93,203 | €162,996 | +€69,792 | +74.9% |
| Stocks and contracts in progress | 3 | €4,500 | - | -€4,500 | |
| Stocks | 30/36 | €4,500 | - | -€4,500 | |
| Amounts receivable within one year | 40/41 | €82,600 | €152,552 | +€69,952 | +84.7% |
| Trade receivables | 40 | €43,190 | €58,712 | +€15,522 | +35.9% |
| Other amounts receivable | 41 | €39,410 | €93,840 | +€54,430 | +138% |
| Cash at bank and in hand | 54/58 | €4,647 | €6,693 | +€2,046 | +44.0% |
| Deferred charges and accrued income | 490/1 | €1,457 | €3,751 | +€2,294 | +158% |
| Total equity and liabilities | 10/49 | €308,651 | €362,334 | +€53,683 | +17.4% |
| Equity | 10/15 | €58,386 | €63,860 | +€5,474 | +9.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,386 | €60,860 | +€5,474 | +9.9% |
| Amounts payable | 17/49 | €250,265 | €298,474 | +€48,209 | +19.3% |
| Amounts payable after more than one year | 17 | €107,566 | €120,675 | +€13,110 | +12.2% |
| Financial debts | 170/4 | €107,566 | €120,675 | +€13,110 | +12.2% |
| Amounts payable within one year | 42/48 | €142,699 | €177,798 | +€35,099 | +24.6% |
| Current portion of amounts payable after more than one year | 42 | €32,713 | €46,008 | +€13,295 | +40.6% |
| Trade debts | 44 | €65,282 | €90,537 | +€25,255 | +38.7% |
| Suppliers | 440/4 | €65,282 | €90,537 | +€25,255 | +38.7% |
| Taxes, remuneration and social security | 45 | €44,705 | €41,253 | -€3,452 | -7.7% |
| Taxes | 450/3 | €33,014 | €41,253 | +€8,239 | +25.0% |
| Remuneration and social security | 454/9 | €11,691 | - | -€11,691 | |
| Non-recurring operating income | 76A | €4,280 | €619 | -€3,661 | -85.5% |
| Remuneration, social security and pensions | 62 | €88,758 | €21,632 | -€67,126 | -75.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,748 | €12,228 | -€519 | -4.1% |
| Other operating charges | 640/8 | €3,215 | €610 | -€2,605 | -81.0% |
| Gross operating margin | 9900 | €134,435 | €54,375 | -€80,060 | -59.6% |
| Operating profit (loss) | 9901 | €29,714 | €19,905 | -€9,809 | -33.0% |
| Financial income | 75/76B | €1,409 | €3,866 | +€2,457 | +174% |
| Recurring financial income | 75 | €1,409 | €3,866 | +€2,457 | +174% |
| Financial charges | 65/66B | €7,907 | €16,214 | +€8,307 | +105% |
| Recurring financial charges | 65 | €7,907 | €16,214 | +€8,307 | +105% |
| Profit (loss) for the period before taxes | 9903 | €23,216 | €7,557 | -€15,659 | -67.4% |
| Income taxes | 67/77 | €6,699 | €2,083 | -€4,616 | -68.9% |
| Profit (loss) for the period | 9904 | €16,517 | €5,474 | -€11,043 | -66.9% |
| Profit (loss) for the period to be appropriated | 9905 | €16,517 | €5,474 | -€11,043 | -66.9% |
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 21 October 2026 via checked.be.