3M HOLDING: 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.
What changed
3M HOLDING
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€51,645
2024 · €258,224-€206,579
Equity
€366,205
2024 · €410,842-€44,637
Cash
€19,615
2024 · €31,435-€11,821
Balance sheet total
€1.9m
2024 · €1.4m+€473,173
Largest movements
Assets
- Tangible fixed assets +€502,650
up €502,650 (+54.1%), from €928,669 to €1.4m
of which Land and buildings: +€510,022
- Receivables after one year +€34,187
up €34,187 (+12.1%), from €281,377 to €315,564
- Receivables within one year -€27,707
down €27,707 (-24.5%), from €113,012 to €85,305
of which Trade receivables: -€22,008
- Stocks and contracts -€27,000
no longer reported in 2025 (was €27,000)
Equity and liabilities
- Debts after one year +€328,271
up €328,271 (+42.2%), from €778,049 to €1.1m
- Short-term financial debts +€100,000
new in 2025: €100,000
- Other debts +€62,416
up €62,416 (+126%), from €49,510 to €111,926
- Reserves -€44,637
down €44,637 (-11.7%), from €381,462 to €336,826
of which Distributable reserves: -€41,170
- Current portion of long-term debt +€22,399
up €22,399 (+37.7%), from €59,459 to €81,858
Income statement
- Gross operating margin -€266,114
down €266,114 (-60.2%), from €441,767 to €175,653
- Other operating charges -€23,004
down €23,004 (-54.6%), from €42,110 to €19,105
- Taxes +€10,075
up €10,075 (+75.4%), from €13,362 to €23,436
- Depreciation +€8,276
up €8,276 (+18.7%), from €44,167 to €52,444
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.
Result 2024
€258,224
Gross operating margin
-€266,114
Depreciation
-€8,276
Other operating charges
+€23,004
Other operating items
+€650
Financial income
-€1,353
Financial charges
-€1,447
Taxes
-€10,075
Deferred taxes and other
+€57,031
Result 2025
€51,645
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€188,885
Investment
-€555,094
Financing
+€354,388
Cash 2024
€31,435
From operations (derived)
+€188,885
Net result for the year
+€51,645
Depreciation
+€52,444
Receivables after one year
-€34,187
Stocks and contracts
+€27,000
Receivables within one year
+€27,707
Deferred charges and accrued income
-€2,864
Smaller working-capital items
-€1,437
Tax, wage and social debts
+€6,162
Other debts
+€62,416
Investment (derived)
-€555,094
Investment in fixed assets (net)
-€555,094
Financing
+€354,388
Debts after one year
+€328,271
Current portion of long-term debt
+€22,399
Short-term financial debts
+€100,000
Contributions, distributions and other
-€96,282
Cash 2025
€19,615
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,382,887 | €1,856,060 | +€473,173 | +34.2% |
| Fixed assets | 21/28 | €928,669 | €1,431,319 | +€502,650 | +54.1% |
| Tangible fixed assets | 22/27 | €928,669 | €1,431,319 | +€502,650 | +54.1% |
| Land and buildings | 22 | €874,064 | €1,384,086 | +€510,022 | +58.4% |
| Plant, machinery and equipment | 23 | €10,008 | €6,967 | -€3,042 | -30.4% |
| Furniture and vehicles | 24 | €44,596 | €37,850 | -€6,747 | -15.1% |
| Other tangible fixed assets | 26 | - | €2,416 | +€2,416 | |
| Current assets | 29/58 | €454,218 | €424,741 | -€29,477 | -6.5% |
| Amounts receivable after more than one year | 29 | €281,377 | €315,564 | +€34,187 | +12.1% |
| Other amounts receivable | 291 | €281,377 | €315,564 | +€34,187 | +12.1% |
| Stocks and contracts in progress | 3 | €27,000 | - | -€27,000 | |
| Stocks | 30/36 | €27,000 | - | -€27,000 | |
| Amounts receivable within one year | 40/41 | €113,012 | €85,305 | -€27,707 | -24.5% |
| Trade receivables | 40 | €62,312 | €40,305 | -€22,008 | -35.3% |
| Other amounts receivable | 41 | €50,699 | €45,000 | -€5,699 | -11.2% |
| Cash at bank and in hand | 54/58 | €31,435 | €19,615 | -€11,821 | -37.6% |
| Deferred charges and accrued income | 490/1 | €1,394 | €4,257 | +€2,864 | +205% |
| Total equity and liabilities | 10/49 | €1,382,887 | €1,856,060 | +€473,173 | +34.2% |
| Equity | 10/15 | €410,842 | €366,205 | -€44,637 | -10.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €381,462 | €336,826 | -€44,637 | -11.7% |
| Tax-exempt reserves | 132 | €224,657 | €221,190 | -€3,467 | -1.5% |
| Distributable reserves | 133 | €156,805 | €115,636 | -€41,170 | -26.3% |
| Profit (loss) carried forward | 14 | €28,380 | €28,380 | = | 0.0% |
| Provisions and deferred taxes | 16 | €56,164 | €55,297 | -€867 | -1.5% |
| Deferred taxes | 168 | €56,164 | €55,297 | -€867 | -1.5% |
| Amounts payable | 17/49 | €915,881 | €1,434,557 | +€518,677 | +56.6% |
| Amounts payable after more than one year | 17 | €778,049 | €1,106,320 | +€328,271 | +42.2% |
| Financial debts | 170/4 | €778,049 | €1,106,320 | +€328,271 | +42.2% |
| Amounts payable within one year | 42/48 | €136,782 | €328,237 | +€191,455 | +140% |
| Current portion of amounts payable after more than one year | 42 | €59,459 | €81,858 | +€22,399 | +37.7% |
| Financial debts | 43 | - | €100,000 | +€100,000 | |
| Credit institutions | 430/8 | - | €100,000 | +€100,000 | |
| Trade debts | 44 | €5,011 | €5,491 | +€479 | +9.6% |
| Suppliers | 440/4 | €5,011 | €5,491 | +€479 | +9.6% |
| Taxes, remuneration and social security | 45 | €22,801 | €28,963 | +€6,162 | +27.0% |
| Taxes | 450/3 | €16,801 | €28,963 | +€12,162 | +72.4% |
| Remuneration and social security | 454/9 | €6,000 | - | -€6,000 | |
| Other amounts payable | 47/48 | €49,510 | €111,926 | +€62,416 | +126% |
| Accrued charges and deferred income | 492/3 | €1,050 | - | -€1,050 | |
| Non-recurring operating income | 76A | €281,081 | €15,715 | -€265,366 | -94.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,167 | €52,444 | +€8,276 | +18.7% |
| Other operating charges | 640/8 | €42,110 | €19,105 | -€23,004 | -54.6% |
| Non-recurring operating charges | 66A | €650 | - | -€650 | |
| Gross operating margin | 9900 | €441,767 | €175,653 | -€266,114 | -60.2% |
| Operating profit (loss) | 9901 | €354,840 | €104,105 | -€250,736 | -70.7% |
| Financial income | 75/76B | €1,353 | €0 | -€1,353 | -100.0% |
| Recurring financial income | 75 | €1,353 | €0 | -€1,353 | -100.0% |
| Financial charges | 65/66B | €28,444 | €29,890 | +€1,447 | +5.1% |
| Recurring financial charges | 65 | €28,444 | €29,890 | +€1,447 | +5.1% |
| Profit (loss) for the period before taxes | 9903 | €327,750 | €74,215 | -€253,536 | -77.4% |
| Transfer from deferred taxes | 780 | €52 | €867 | +€815 | +1,564% |
| Transfer to deferred taxes | 680 | €56,216 | - | -€56,216 | |
| Income taxes | 67/77 | €13,362 | €23,436 | +€10,075 | +75.4% |
| Profit (loss) for the period | 9904 | €258,224 | €51,645 | -€206,579 | -80.0% |
| Transfer from tax-exempt reserves | 789 | €208 | €3,467 | +€3,258 | +1,564% |
| Transfer to tax-exempt reserves | 689 | €224,865 | - | -€224,865 | |
| Profit (loss) for the period to be appropriated | 9905 | €33,568 | €55,112 | +€21,544 | +64.2% |
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 18 October 2026 via checked.be.