dM²c: 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.
dM²c
Largest movements
- Receivables within one year +€30,336
up €30,336 (+74.0%), from €41,009 to €71,345
of which Other amounts receivable: +€18,636
- Cash +€19,288
up €19,288 (+90.3%), from €21,353 to €40,641
mainly Other debts (+€80,000) and Net result for the year (+€50,569)
- Tangible fixed assets -€6,735
down €6,735 (-3.1%), from €219,197 to €212,462
of which Furniture and vehicles: -€4,811
- Other debts +€80,000
new in 2025: €80,000
- Reserves -€35,000
down €35,000 (-26.9%), from €130,000 to €95,000
- Debts after one year -€14,538
down €14,538 (-11.6%), from €125,369 to €110,831
- Tax, wage and social debts +€6,602
up €6,602 (+143%), from €4,625 to €11,228
- Profit (loss) carried forward +€5,569
up €5,569 (+17.3%), from €32,205 to €37,774
- Gross operating margin +€58,200
up €58,200 (+162%), from €35,956 to €94,156
- Taxes +€16,540
up €16,540 (+506%), from €3,269 to €19,808
- Depreciation +€1,532
up €1,532 (+13.4%), from €11,420 to €12,952
- Other operating charges +€1,321
up €1,321 (+32.5%), from €4,066 to €5,387
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 | €323,373 | €368,172 | +€44,799 | +13.9% |
| Fixed assets | 21/28 | €219,197 | €212,462 | -€6,735 | -3.1% |
| Tangible fixed assets | 22/27 | €219,197 | €212,462 | -€6,735 | -3.1% |
| Land and buildings | 22 | €163,978 | €165,369 | +€1,391 | +0.8% |
| Plant, machinery and equipment | 23 | €14,226 | €11,894 | -€2,332 | -16.4% |
| Furniture and vehicles | 24 | €39,620 | €34,809 | -€4,811 | -12.1% |
| Other tangible fixed assets | 26 | €1,373 | €391 | -€983 | -71.6% |
| Current assets | 29/58 | €104,176 | €155,710 | +€51,534 | +49.5% |
| Amounts receivable after more than one year | 29 | €40,000 | €40,000 | = | 0.0% |
| Other amounts receivable | 291 | €40,000 | €40,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €41,009 | €71,345 | +€30,336 | +74.0% |
| Trade receivables | 40 | €19,699 | €31,399 | +€11,700 | +59.4% |
| Other amounts receivable | 41 | €21,310 | €39,946 | +€18,636 | +87.4% |
| Cash at bank and in hand | 54/58 | €21,353 | €40,641 | +€19,288 | +90.3% |
| Deferred charges and accrued income | 490/1 | €1,813 | €3,723 | +€1,910 | +105% |
| Total equity and liabilities | 10/49 | €323,373 | €368,172 | +€44,799 | +13.9% |
| Equity | 10/15 | €177,205 | €147,774 | -€29,431 | -16.6% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €130,000 | €95,000 | -€35,000 | -26.9% |
| Distributable reserves | 133 | €130,000 | €95,000 | -€35,000 | -26.9% |
| Profit (loss) carried forward | 14 | €32,205 | €37,774 | +€5,569 | +17.3% |
| Amounts payable | 17/49 | €146,167 | €220,398 | +€74,230 | +50.8% |
| Amounts payable after more than one year | 17 | €125,369 | €110,831 | -€14,538 | -11.6% |
| Financial debts | 170/4 | €125,369 | €110,831 | -€14,538 | -11.6% |
| Amounts payable within one year | 42/48 | €20,798 | €109,567 | +€88,768 | +427% |
| Current portion of amounts payable after more than one year | 42 | €13,891 | €14,538 | +€647 | +4.7% |
| Trade debts | 44 | €2,282 | €3,801 | +€1,519 | +66.5% |
| Suppliers | 440/4 | €2,282 | €3,801 | +€1,519 | +66.5% |
| Taxes, remuneration and social security | 45 | €4,625 | €11,228 | +€6,602 | +143% |
| Taxes | 450/3 | €4,625 | €11,228 | +€6,602 | +143% |
| Other amounts payable | 47/48 | - | €80,000 | +€80,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,420 | €12,952 | +€1,532 | +13.4% |
| Other operating charges | 640/8 | €4,066 | €5,387 | +€1,321 | +32.5% |
| Gross operating margin | 9900 | €35,956 | €94,156 | +€58,200 | +162% |
| Operating profit (loss) | 9901 | €20,470 | €75,817 | +€55,347 | +270% |
| Financial income | 75/76B | €518 | €1,083 | +€565 | +109% |
| Recurring financial income | 75 | €518 | €1,083 | +€565 | +109% |
| Financial charges | 65/66B | €7,042 | €6,523 | -€519 | -7.4% |
| Recurring financial charges | 65 | €7,042 | €6,523 | -€519 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | €13,947 | €70,378 | +€56,431 | +405% |
| Income taxes | 67/77 | €3,269 | €19,808 | +€16,540 | +506% |
| Profit (loss) for the period | 9904 | €10,678 | €50,569 | +€39,891 | +374% |
| Profit (loss) for the period to be appropriated | 9905 | €10,678 | €50,569 | +€39,891 | +374% |
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.