3L M V3: 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.
3L M V3
Largest movements
- Deferred charges and accrued income +€11,256
up €11,256 (+397%), from €2,837 to €14,093
- Receivables within one year +€9,946
up €9,946 (+48.4%), from €20,543 to €30,490
of which Trade receivables: +€13,894
- Cash -€4,228
down €4,228 (-6.6%), from €64,549 to €60,321
mainly Contributions, distributions and other (-€42,231) and Deferred charges and accrued income (-€11,256)
- Tangible fixed assets +€1,645
up €1,645 (+13.4%), from €12,273 to €13,918
of which Furniture and vehicles: +€11,758
- Profit (loss) carried forward +€11,477
up €11,477 (+15.5%), from €74,129 to €85,606
- Reserves -€9,231
no longer reported in 2025 (was €9,231)
- Other debts +€7,458
up €7,458 (+707%), from €1,055 to €8,513
- Accrued charges and deferred income +€3,992
up €3,992 (+383%), from €1,043 to €5,034
- Trade debts +€2,467
up €2,467 (+136%), from €1,816 to €4,283
- Gross operating margin -€26,468
down €26,468 (-25.4%), from €104,233 to €77,765
- Staff costs +€13,593
up €13,593 (+1,081%), from €1,258 to €14,851
- Taxes -€7,653
down €7,653 (-37.9%), from €20,177 to €12,524
- Depreciation +€1,736
up €1,736 (+45.1%), from €3,851 to €5,587
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 | €100,202 | €118,821 | +€18,619 | +18.6% |
| Fixed assets | 21/28 | €12,273 | €13,918 | +€1,645 | +13.4% |
| Tangible fixed assets | 22/27 | €12,273 | €13,918 | +€1,645 | +13.4% |
| Plant, machinery and equipment | 23 | - | €2,160 | +€2,160 | |
| Furniture and vehicles | 24 | - | €11,758 | +€11,758 | |
| Assets under construction and advance payments | 27 | €12,273 | - | -€12,273 | |
| Current assets | 29/58 | €87,929 | €104,904 | +€16,974 | +19.3% |
| Amounts receivable within one year | 40/41 | €20,543 | €30,490 | +€9,946 | +48.4% |
| Trade receivables | 40 | €16,520 | €30,414 | +€13,894 | +84.1% |
| Other amounts receivable | 41 | €4,023 | €76 | -€3,947 | -98.1% |
| Cash at bank and in hand | 54/58 | €64,549 | €60,321 | -€4,228 | -6.6% |
| Deferred charges and accrued income | 490/1 | €2,837 | €14,093 | +€11,256 | +397% |
| Total equity and liabilities | 10/49 | €100,202 | €118,821 | +€18,619 | +18.6% |
| Equity | 10/15 | €83,360 | €85,606 | +€2,246 | +2.7% |
| Reserves | 13 | €9,231 | - | -€9,231 | |
| Distributable reserves | 133 | €9,231 | - | -€9,231 | |
| Profit (loss) carried forward | 14 | €74,129 | €85,606 | +€11,477 | +15.5% |
| Amounts payable | 17/49 | €16,842 | €33,215 | +€16,373 | +97.2% |
| Amounts payable within one year | 42/48 | €15,799 | €28,181 | +€12,382 | +78.4% |
| Trade debts | 44 | €1,816 | €4,283 | +€2,467 | +136% |
| Suppliers | 440/4 | €1,816 | €4,283 | +€2,467 | +136% |
| Taxes, remuneration and social security | 45 | €12,929 | €15,385 | +€2,457 | +19.0% |
| Taxes | 450/3 | €12,929 | €15,185 | +€2,257 | +17.5% |
| Remuneration and social security | 454/9 | - | €200 | +€200 | |
| Other amounts payable | 47/48 | €1,055 | €8,513 | +€7,458 | +707% |
| Accrued charges and deferred income | 492/3 | €1,043 | €5,034 | +€3,992 | +383% |
| Remuneration, social security and pensions | 62 | €1,258 | €14,851 | +€13,593 | +1,081% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,851 | €5,587 | +€1,736 | +45.1% |
| Other operating charges | 640/8 | €50 | €401 | +€351 | +702% |
| Gross operating margin | 9900 | €104,233 | €77,765 | -€26,468 | -25.4% |
| Operating profit (loss) | 9901 | €99,074 | €56,926 | -€42,148 | -42.5% |
| Financial income | 75/76B | €0 | €113 | +€113 | +1,129,300% |
| Recurring financial income | 75 | €0 | €113 | +€113 | +1,129,300% |
| Financial charges | 65/66B | €39 | €38 | -€1 | -3.1% |
| Recurring financial charges | 65 | €39 | €38 | -€1 | -3.1% |
| Profit (loss) for the period before taxes | 9903 | €99,035 | €57,001 | -€42,034 | -42.4% |
| Income taxes | 67/77 | €20,177 | €12,524 | -€7,653 | -37.9% |
| Profit (loss) for the period | 9904 | €78,858 | €44,477 | -€34,381 | -43.6% |
| Profit (loss) for the period to be appropriated | 9905 | €78,858 | €44,477 | -€34,381 | -43.6% |
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 31 October 2026 via checked.be.