3 M C: what changed
Two fiscal 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.
3 M C
Largest movements
- Tangible fixed assets +€25,639
up €25,639 (+5.7%), from €446,309 to €471,948
- Receivables within one year -€13,039
down €13,039 (-76.5%), from €17,045 to €4,006
- Trade debts +€30,390
new in 2025: €30,390
- Profit (loss) carried forward -€11,435
down €11,435 (-9.6%), from €118,799 to €107,364
- Gross operating margin -€200,647
down €200,647 (-98.5%), from €203,738 to €3,091
- Depreciation +€6,188
up €6,188 (+74.2%), from €8,339 to €14,526
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.
Cash bridge derived
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 | €545,443 | €561,577 | +€16,134 | +3.0% |
| Fixed assets | 21/28 | €446,309 | €471,948 | +€25,639 | +5.7% |
| Tangible fixed assets | 22/27 | €446,309 | €471,948 | +€25,639 | +5.7% |
| Plant, machinery and equipment | 23 | €446,309 | €471,948 | +€25,639 | +5.7% |
| Current assets | 29/58 | €99,134 | €89,629 | -€9,505 | -9.6% |
| Amounts receivable after more than one year | 29 | €1,487 | €1,487 | = | 0.0% |
| Other amounts receivable | 291 | €1,487 | €1,487 | = | 0.0% |
| Stocks and contracts in progress | 3 | €2,255 | €2,023 | -€232 | -10.3% |
| Stocks | 30/36 | €2,255 | €2,023 | -€232 | -10.3% |
| Amounts receivable within one year | 40/41 | €17,045 | €4,006 | -€13,039 | -76.5% |
| Trade receivables | 40 | €17,045 | €4,006 | -€13,039 | -76.5% |
| Cash at bank and in hand | 54/58 | €38,199 | €42,213 | +€4,015 | +10.5% |
| Deferred charges and accrued income | 490/1 | €40,149 | €39,900 | -€249 | -0.6% |
| Total equity and liabilities | 10/49 | €545,443 | €561,577 | +€16,134 | +3.0% |
| Equity | 10/15 | €121,095 | €109,659 | -€11,435 | -9.4% |
| Reserves | 13 | €2,296 | €2,296 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,296 | €2,296 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,296 | €2,296 | = | 0.0% |
| Profit (loss) carried forward | 14 | €118,799 | €107,364 | -€11,435 | -9.6% |
| Provisions and deferred taxes | 16 | €420,994 | €420,994 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €420,994 | €420,994 | = | 0.0% |
| Major repairs and maintenance | 162 | €420,994 | €420,994 | = | 0.0% |
| Amounts payable | 17/49 | €3,355 | €30,924 | +€27,569 | +821.8% |
| Amounts payable within one year | 42/48 | €3,355 | €30,924 | +€27,569 | +821.8% |
| Trade debts | 44 | - | €30,390 | +€30,390 | |
| Suppliers | 440/4 | - | €30,390 | +€30,390 | |
| Taxes, remuneration and social security | 45 | €3,355 | €534 | -€2,821 | -84.1% |
| Taxes | 450/3 | €3,355 | €534 | -€2,821 | -84.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,339 | €14,526 | +€6,188 | +74.2% |
| Gross operating margin | 9900 | €203,738 | €3,091 | -€200,647 | -98.5% |
| Operating profit (loss) | 9901 | €195,399 | -€11,435 | -€206,834 | |
| Profit (loss) for the period before taxes | 9903 | €195,399 | -€11,435 | -€206,834 | |
| Profit (loss) for the period | 9904 | €195,399 | -€11,435 | -€206,834 | |
| Profit (loss) for the period to be appropriated | 9905 | €195,399 | -€11,435 | -€206,834 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.