Concept M: 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.
Concept M
Largest movements
- Cash -€6,039
down €6,039 (-12.2%), from €49,544 to €43,505
mainly Contributions, distributions and other (-€50,000) and Investment in fixed assets (net) (-€10,341)
- Tangible fixed assets +€2,126
up €2,126 (+10.5%), from €20,332 to €22,458
of which Furniture and vehicles: +€4,943
- Stocks and contracts -€1,643
down €1,643 (-7.5%), from €21,759 to €20,116
- Reserves -€47,116
down €47,116 (-88.3%), from €53,337 to €6,221
- Other debts +€39,443
up €39,443 (+1369.1%), from €2,881 to €42,324
- Current portion of long-term debt +€3,376
up €3,376 (+134.2%), from €2,516 to €5,892
- Trade debts -€2,831
down €2,831 (-29.4%), from €9,621 to €6,789
- Tax, wage and social debts +€2,076
up €2,076 (+9.6%), from €21,688 to €23,764
- Gross operating margin -€12,045
down €12,045 (-36.5%), from €33,039 to €20,993
- Taxes -€2,915
down €2,915 (-40.4%), from €7,211 to €4,296
- Depreciation +€2,390
up €2,390 (+41.0%), from €5,825 to €8,215
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 | €100,980 | €95,034 | -€5,946 | -5.9% |
| Fixed assets | 21/28 | €20,332 | €22,458 | +€2,126 | +10.5% |
| Intangible fixed assets | 21 | €1 | €1 | -€0 | -16.7% |
| Tangible fixed assets | 22/27 | €20,332 | €22,458 | +€2,126 | +10.5% |
| Land and buildings | 22 | €16,647 | €12,053 | -€4,595 | -27.6% |
| Plant, machinery and equipment | 23 | €1,438 | €3,216 | +€1,777 | +123.6% |
| Furniture and vehicles | 24 | €2,246 | €7,190 | +€4,943 | +220.1% |
| Current assets | 29/58 | €80,648 | €72,576 | -€8,072 | -10.0% |
| Stocks and contracts in progress | 3 | €21,759 | €20,116 | -€1,643 | -7.5% |
| Stocks | 30/36 | €21,759 | €20,116 | -€1,643 | -7.5% |
| Amounts receivable within one year | 40/41 | €6,730 | €7,325 | +€596 | +8.9% |
| Trade receivables | 40 | €6,730 | €7,325 | +€596 | +8.9% |
| Cash at bank and in hand | 54/58 | €49,544 | €43,505 | -€6,039 | -12.2% |
| Deferred charges and accrued income | 490/1 | €2,615 | €1,629 | -€986 | -37.7% |
| Total equity and liabilities | 10/49 | €100,980 | €95,034 | -€5,946 | -5.9% |
| Equity | 10/15 | €58,337 | €11,221 | -€47,116 | -80.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €53,337 | €6,221 | -€47,116 | -88.3% |
| Distributable reserves | 133 | €53,337 | €6,221 | -€47,116 | -88.3% |
| Amounts payable | 17/49 | €42,643 | €83,813 | +€41,171 | +96.5% |
| Amounts payable after more than one year | 17 | €5,938 | €5,044 | -€894 | -15.1% |
| Financial debts | 170/4 | €5,938 | €5,044 | -€894 | -15.1% |
| Amounts payable within one year | 42/48 | €36,705 | €78,770 | +€42,064 | +114.6% |
| Current portion of amounts payable after more than one year | 42 | €2,516 | €5,892 | +€3,376 | +134.2% |
| Trade debts | 44 | €9,621 | €6,789 | -€2,831 | -29.4% |
| Suppliers | 440/4 | €9,621 | €6,789 | -€2,831 | -29.4% |
| Taxes, remuneration and social security | 45 | €21,688 | €23,764 | +€2,076 | +9.6% |
| Taxes | 450/3 | €21,688 | €23,764 | +€2,076 | +9.6% |
| Other amounts payable | 47/48 | €2,881 | €42,324 | +€39,443 | +1369.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,825 | €8,215 | +€2,390 | +41.0% |
| Other operating charges | 640/8 | €3,046 | €3,029 | -€17 | -0.5% |
| Gross operating margin | 9900 | €33,039 | €20,993 | -€12,045 | -36.5% |
| Operating profit (loss) | 9901 | €24,168 | €9,749 | -€14,419 | -59.7% |
| Financial income | 75/76B | €6 | €24 | +€18 | +308.4% |
| Recurring financial income | 75 | €6 | €24 | +€18 | +308.4% |
| Financial charges | 65/66B | €2,590 | €2,594 | +€4 | +0.1% |
| Recurring financial charges | 65 | €2,590 | €2,594 | +€4 | +0.1% |
| Profit (loss) for the period before taxes | 9903 | €21,583 | €7,179 | -€14,404 | -66.7% |
| Income taxes | 67/77 | €7,211 | €4,296 | -€2,915 | -40.4% |
| Profit (loss) for the period | 9904 | €14,373 | €2,884 | -€11,489 | -79.9% |
| Profit (loss) for the period to be appropriated | 9905 | €14,373 | €2,884 | -€11,489 | -79.9% |
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.