groep m&s: 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.
groep m&s
Largest movements
- Receivables within one year +€30,091
up €30,091 (+70.3%), from €42,812 to €72,904
of which Other amounts receivable: +€25,541
- Trade debts +€23,127
up €23,127 (+1,195%), from €1,935 to €25,062
- Reserves +€7,925
up €7,925 (+27.7%), from €28,582 to €36,508
of which Distributable reserves: +€10,544
- Profit (loss) carried forward -€1,258
no longer reported in 2025 (was €1,258)
- Tax, wage and social debts +€1,217
up €1,217 (+11.0%), from €11,102 to €12,319
of which Remuneration and social security: +€2,955
- Gross operating margin +€18,285
up €18,285 (+28.9%), from €63,202 to €81,487
- Staff costs +€11,275
up €11,275 (+18.8%), from €60,060 to €71,335
- Taxes +€3,610
up €3,610 (+1,660%), from €217 to €3,827
- Financial charges +€1,198
up €1,198 (+246%), from €487 to €1,685
- Financial income +€1,085
up €1,085 (+68.0%), from €1,597 to €2,682
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 | €42,878 | €73,890 | +€31,012 | +72.3% |
| Fixed assets | 21/28 | - | €300 | +€300 | |
| Financial fixed assets | 28 | - | €300 | +€300 | |
| Current assets | 29/58 | €42,878 | €73,590 | +€30,712 | +71.6% |
| Amounts receivable within one year | 40/41 | €42,812 | €72,904 | +€30,091 | +70.3% |
| Trade receivables | 40 | €6,500 | €11,050 | +€4,550 | +70.0% |
| Other amounts receivable | 41 | €36,312 | €61,854 | +€25,541 | +70.3% |
| Cash at bank and in hand | 54/58 | €66 | €342 | +€276 | +421% |
| Deferred charges and accrued income | 490/1 | - | €344 | +€344 | |
| Total equity and liabilities | 10/49 | €42,878 | €73,890 | +€31,012 | +72.3% |
| Equity | 10/15 | €29,841 | €36,509 | +€6,667 | +22.3% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €28,582 | €36,508 | +€7,925 | +27.7% |
| Non-distributable reserves | 130/1 | €2,619 | - | -€2,619 | |
| Reserves not available under the articles | 1311 | €2,619 | - | -€2,619 | |
| Distributable reserves | 133 | €25,963 | €36,508 | +€10,544 | +40.6% |
| Profit (loss) carried forward | 14 | €1,258 | - | -€1,258 | |
| Amounts payable | 17/49 | €13,037 | €37,381 | +€24,344 | +187% |
| Amounts payable within one year | 42/48 | €13,037 | €37,381 | +€24,344 | +187% |
| Trade debts | 44 | €1,935 | €25,062 | +€23,127 | +1,195% |
| Suppliers | 440/4 | €1,935 | €25,062 | +€23,127 | +1,195% |
| Taxes, remuneration and social security | 45 | €11,102 | €12,319 | +€1,217 | +11.0% |
| Taxes | 450/3 | €2,749 | €1,012 | -€1,737 | -63.2% |
| Remuneration and social security | 454/9 | €8,353 | €11,308 | +€2,955 | +35.4% |
| Remuneration, social security and pensions | 62 | €60,060 | €71,335 | +€11,275 | +18.8% |
| Other operating charges | 640/8 | €249 | €654 | +€406 | +163% |
| Gross operating margin | 9900 | €63,202 | €81,487 | +€18,285 | +28.9% |
| Operating profit (loss) | 9901 | €2,894 | €9,498 | +€6,604 | +228% |
| Financial income | 75/76B | €1,597 | €2,682 | +€1,085 | +68.0% |
| Recurring financial income | 75 | €1,597 | €2,682 | +€1,085 | +68.0% |
| Financial charges | 65/66B | €487 | €1,685 | +€1,198 | +246% |
| Recurring financial charges | 65 | €487 | €1,685 | +€1,198 | +246% |
| Profit (loss) for the period before taxes | 9903 | €4,004 | €10,495 | +€6,491 | +162% |
| Income taxes | 67/77 | €217 | €3,827 | +€3,610 | +1,660% |
| Profit (loss) for the period | 9904 | €3,786 | €6,667 | +€2,881 | +76.1% |
| Profit (loss) for the period to be appropriated | 9905 | €3,786 | €6,667 | +€2,881 | +76.1% |
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 1 November 2026 via checked.be.