2M TRENDS: 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.
2M TRENDS
Largest movements
- Tangible fixed assets -€5,125
down €5,125 (-16.7%), from €30,750 to €25,625
- Receivables within one year +€2,593
up €2,593 (+18.6%), from €13,939 to €16,533
of which Trade receivables: +€2,656
- Cash -€896
down €896 (-42.7%), from €2,101 to €1,204
mainly Debts after one year (-€13,664) and Current portion of long-term debt (-€6,051)
- Debts after one year -€13,664
down €13,664 (-82.2%), from €16,614 to €2,949
- Other debts +€9,516
up €9,516 (+187%), from €5,089 to €14,605
- Current portion of long-term debt -€6,051
down €6,051 (-30.7%), from €19,716 to €13,664
- Profit (loss) carried forward +€5,877
up €5,877 (+27.2%), from -€21,646 to -€15,769
- Tax, wage and social debts +€504
up €504 (+40.2%), from €1,256 to €1,760
- Gross operating margin -€4,541
down €4,541 (-22.0%), from €20,635 to €16,093
- Financial charges -€709
down €709 (-27.9%), from €2,543 to €1,834
- Write-downs +€303
new in 2025: €303
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 | €46,790 | €43,362 | -€3,428 | -7.3% |
| Fixed assets | 21/28 | €30,750 | €25,625 | -€5,125 | -16.7% |
| Tangible fixed assets | 22/27 | €30,750 | €25,625 | -€5,125 | -16.7% |
| Land and buildings | 22 | €30,750 | €25,625 | -€5,125 | -16.7% |
| Current assets | 29/58 | €16,040 | €17,737 | +€1,697 | +10.6% |
| Amounts receivable within one year | 40/41 | €13,939 | €16,533 | +€2,593 | +18.6% |
| Trade receivables | 40 | €13,876 | €16,533 | +€2,656 | +19.1% |
| Other amounts receivable | 41 | €63 | €0 | -€63 | -100% |
| Cash at bank and in hand | 54/58 | €2,101 | €1,204 | -€896 | -42.7% |
| Total equity and liabilities | 10/49 | €46,790 | €43,362 | -€3,428 | -7.3% |
| Equity | 10/15 | €4,116 | €9,993 | +€5,877 | +143% |
| Contributions | 10/11 | €9,300 | €9,300 | = | 0.0% |
| Reserves | 13 | €16,463 | €16,463 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,603 | €14,603 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€21,646 | -€15,769 | +€5,877 | +27.2% |
| Amounts payable | 17/49 | €42,674 | €33,368 | -€9,306 | -21.8% |
| Amounts payable after more than one year | 17 | €16,614 | €2,949 | -€13,664 | -82.2% |
| Financial debts | 170/4 | €16,614 | €2,949 | -€13,664 | -82.2% |
| Amounts payable within one year | 42/48 | €26,060 | €30,419 | +€4,359 | +16.7% |
| Current portion of amounts payable after more than one year | 42 | €19,716 | €13,664 | -€6,051 | -30.7% |
| Trade debts | 44 | €0 | €390 | +€390 | |
| Suppliers | 440/4 | €0 | €390 | +€390 | |
| Taxes, remuneration and social security | 45 | €1,256 | €1,760 | +€504 | +40.2% |
| Taxes | 450/3 | €1,256 | €1,760 | +€504 | +40.2% |
| Other amounts payable | 47/48 | €5,089 | €14,605 | +€9,516 | +187% |
| Non-recurring operating income | 76A | €4,651 | €0 | -€4,651 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,125 | €5,125 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €303 | +€303 | |
| Other operating charges | 640/8 | €2,811 | €2,955 | +€144 | +5.1% |
| Gross operating margin | 9900 | €20,635 | €16,093 | -€4,541 | -22.0% |
| Operating profit (loss) | 9901 | €12,699 | €7,711 | -€4,988 | -39.3% |
| Financial charges | 65/66B | €2,543 | €1,834 | -€709 | -27.9% |
| Recurring financial charges | 65 | €2,543 | €1,834 | -€709 | -27.9% |
| Profit (loss) for the period before taxes | 9903 | €10,156 | €5,877 | -€4,279 | -42.1% |
| Profit (loss) for the period | 9904 | €10,156 | €5,877 | -€4,279 | -42.1% |
| Profit (loss) for the period to be appropriated | 9905 | €10,156 | €5,877 | -€4,279 | -42.1% |
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 13 October 2026 via checked.be.