MLV26: what changed
MLV26
Largest movements
- Cash +€46,042
up €46,042 (+369%), from €12,463 to €58,505
mainly Net result for the year (+€58,899) and Depreciation (+€1,700)
- Receivables within one year +€3,125
up €3,125 (+1.7%), from €185,650 to €188,775
of which Trade receivables: +€4,610
- Reserves +€58,899
up €58,899 (+35.9%), from €163,934 to €222,833
of which Distributable reserves: +€37,849
- Tax, wage and social debts -€9,343
down €9,343 (-29.2%), from €32,050 to €22,707
- Gross operating margin +€35,113
up €35,113 (+52.0%), from €67,578 to €102,691
- Taxes +€14,708
up €14,708 (+61.0%), from €24,101 to €38,809
- Financial charges +€2,049
up €2,049 (+219%), from €936 to €2,985
- Financial income +€1,306
up €1,306 (+251%), from €520 to €1,826
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €236,797 | €284,540 | +€47,743 | +20.2% |
| Fixed assets | 21/28 | €36,446 | €34,746 | -€1,700 | -4.7% |
| Tangible fixed assets | 22/27 | €36,446 | €34,746 | -€1,700 | -4.7% |
| Furniture and vehicles | 24 | €36,446 | €34,746 | -€1,700 | -4.7% |
| Current assets | 29/58 | €200,350 | €249,793 | +€49,443 | +24.7% |
| Amounts receivable within one year | 40/41 | €185,650 | €188,775 | +€3,125 | +1.7% |
| Trade receivables | 40 | €184,150 | €188,760 | +€4,610 | +2.5% |
| Other amounts receivable | 41 | €1,500 | €15 | -€1,485 | -99.0% |
| Cash at bank and in hand | 54/58 | €12,463 | €58,505 | +€46,042 | +369% |
| Deferred charges and accrued income | 490/1 | €2,237 | €2,514 | +€276 | +12.3% |
| Total equity and liabilities | 10/49 | €236,797 | €284,540 | +€47,743 | +20.2% |
| Equity | 10/15 | €182,534 | €241,433 | +€58,899 | +32.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €163,934 | €222,833 | +€58,899 | +35.9% |
| Tax-exempt reserves | 132 | €92,620 | €113,670 | +€21,050 | +22.7% |
| Distributable reserves | 133 | €71,314 | €109,163 | +€37,849 | +53.1% |
| Amounts payable | 17/49 | €54,263 | €43,107 | -€11,156 | -20.6% |
| Amounts payable after more than one year | 17 | €8,738 | €6,735 | -€2,002 | -22.9% |
| Other amounts payable | 178/9 | €8,738 | €6,735 | -€2,002 | -22.9% |
| Amounts payable within one year | 42/48 | €45,525 | €36,372 | -€9,153 | -20.1% |
| Financial debts | 43 | €7,713 | €7,743 | +€31 | +0.4% |
| Credit institutions | 430/8 | €7,713 | €7,743 | +€31 | +0.4% |
| Trade debts | 44 | €5,763 | €5,921 | +€159 | +2.8% |
| Suppliers | 440/4 | €5,763 | €5,921 | +€159 | +2.8% |
| Taxes, remuneration and social security | 45 | €32,050 | €22,707 | -€9,343 | -29.2% |
| Taxes | 450/3 | €32,050 | €22,707 | -€9,343 | -29.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,700 | €1,700 | = | 0.0% |
| Other operating charges | 640/8 | €2,064 | €2,124 | +€60 | +2.9% |
| Gross operating margin | 9900 | €67,578 | €102,691 | +€35,113 | +52.0% |
| Operating profit (loss) | 9901 | €63,814 | €98,867 | +€35,053 | +54.9% |
| Financial income | 75/76B | €520 | €1,826 | +€1,306 | +251% |
| Recurring financial income | 75 | €520 | €1,826 | +€1,306 | +251% |
| Financial charges | 65/66B | €936 | €2,985 | +€2,049 | +219% |
| Recurring financial charges | 65 | €936 | €2,985 | +€2,049 | +219% |
| Profit (loss) for the period before taxes | 9903 | €63,398 | €97,708 | +€34,310 | +54.1% |
| Income taxes | 67/77 | €24,101 | €38,809 | +€14,708 | +61.0% |
| Profit (loss) for the period | 9904 | €39,297 | €58,899 | +€19,602 | +49.9% |
| Transfer to tax-exempt reserves | 689 | €31,575 | €21,050 | -€10,525 | -33.3% |
| Profit (loss) for the period to be appropriated | 9905 | €7,722 | €37,849 | +€30,127 | +390% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.