GROUP M&M: 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.
GROUP M&M
Largest movements
- Cash -€13,172
down €13,172 (-26.8%), from €49,198 to €36,026
mainly Debts after one year (-€16,422) and Net result for the year (-€16,362)
- Receivables within one year -€4,501
down €4,501 (-6.1%), from €73,812 to €69,310
of which Other amounts receivable: -€2,602
- Deferred charges and accrued income -€4,165
down €4,165 (-29.2%), from €14,272 to €10,107
- Tangible fixed assets -€3,978
down €3,978 (-18.3%), from €21,707 to €17,729
of which Furniture and vehicles: -€3,431
- Trade debts +€17,318
up €17,318 (+174%), from €9,941 to €27,259
- Debts after one year -€16,422
down €16,422 (-18.9%), from €86,953 to €70,531
- Profit (loss) carried forward -€13,256
new in 2025: -€13,256
- Other debts -€5,291
down €5,291 (-11.0%), from €48,314 to €43,022
- Tax, wage and social debts -€4,801
down €4,801 (-46.3%), from €10,378 to €5,578
of which Remuneration and social security: -€4,049
- Gross operating margin -€57,471
down €57,471 (-46.5%), from €123,473 to €66,003
- Staff costs -€46,147
down €46,147 (-43.8%), from €105,473 to €59,326
- Financial charges -€1,544
down €1,544 (-16.9%), from €9,123 to €7,579
- Depreciation -€1,368
down €1,368 (-9.1%), from €14,984 to €13,615
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 | €347,926 | €323,116 | -€24,810 | -7.1% |
| Fixed assets | 21/28 | €202,622 | €198,644 | -€3,978 | -2.0% |
| Tangible fixed assets | 22/27 | €21,707 | €17,729 | -€3,978 | -18.3% |
| Plant, machinery and equipment | 23 | €8,038 | €8,393 | +€355 | +4.4% |
| Furniture and vehicles | 24 | €10,660 | €7,228 | -€3,431 | -32.2% |
| Other tangible fixed assets | 26 | €3,009 | €2,108 | -€901 | -30.0% |
| Financial fixed assets | 28 | €180,915 | €180,915 | = | 0.0% |
| Current assets | 29/58 | €145,305 | €124,472 | -€20,833 | -14.3% |
| Stocks and contracts in progress | 3 | €8,023 | €9,029 | +€1,006 | +12.5% |
| Stocks | 30/36 | €8,023 | €9,029 | +€1,006 | +12.5% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €73,812 | €69,310 | -€4,501 | -6.1% |
| Trade receivables | 40 | €69,168 | €67,269 | -€1,899 | -2.7% |
| Other amounts receivable | 41 | €4,644 | €2,042 | -€2,602 | -56.0% |
| Cash at bank and in hand | 54/58 | €49,198 | €36,026 | -€13,172 | -26.8% |
| Deferred charges and accrued income | 490/1 | €14,272 | €10,107 | -€4,165 | -29.2% |
| Total equity and liabilities | 10/49 | €347,926 | €323,116 | -€24,810 | -7.1% |
| Equity | 10/15 | €176,666 | €160,304 | -€16,362 | -9.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €158,066 | €154,960 | -€3,106 | -2.0% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €156,206 | €154,960 | -€1,246 | -0.8% |
| Profit (loss) carried forward | 14 | - | -€13,256 | -€13,256 | |
| Amounts payable | 17/49 | €171,260 | €162,812 | -€8,448 | -4.9% |
| Amounts payable after more than one year | 17 | €86,953 | €70,531 | -€16,422 | -18.9% |
| Financial debts | 170/4 | €86,953 | €70,531 | -€16,422 | -18.9% |
| Amounts payable within one year | 42/48 | €84,307 | €92,281 | +€7,974 | +9.5% |
| Current portion of amounts payable after more than one year | 42 | €15,675 | €16,422 | +€747 | +4.8% |
| Trade debts | 44 | €9,941 | €27,259 | +€17,318 | +174% |
| Suppliers | 440/4 | €9,941 | €27,259 | +€17,318 | +174% |
| Taxes, remuneration and social security | 45 | €10,378 | €5,578 | -€4,801 | -46.3% |
| Taxes | 450/3 | €3,145 | €2,393 | -€751 | -23.9% |
| Remuneration and social security | 454/9 | €7,234 | €3,184 | -€4,049 | -56.0% |
| Other amounts payable | 47/48 | €48,314 | €43,022 | -€5,291 | -11.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €105,473 | €59,326 | -€46,147 | -43.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,984 | €13,615 | -€1,368 | -9.1% |
| Other operating charges | 640/8 | €1,558 | €1,821 | +€263 | +16.9% |
| Gross operating margin | 9900 | €123,473 | €66,003 | -€57,471 | -46.5% |
| Operating profit (loss) | 9901 | €1,459 | -€8,759 | -€10,218 | |
| Financial income | 75/76B | €104 | €298 | +€194 | +186% |
| Recurring financial income | 75 | €104 | €298 | +€194 | +186% |
| Financial charges | 65/66B | €9,123 | €7,579 | -€1,544 | -16.9% |
| Recurring financial charges | 65 | €9,123 | €7,579 | -€1,544 | -16.9% |
| Profit (loss) for the period before taxes | 9903 | -€7,560 | -€16,040 | -€8,480 | -112% |
| Income taxes | 67/77 | €371 | €322 | -€49 | -13.3% |
| Profit (loss) for the period | 9904 | -€7,931 | -€16,362 | -€8,431 | -106% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,931 | -€16,362 | -€8,431 | -106% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.