M & A Consult: 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.
M & A Consult
Largest movements
- Receivables within one year -€13,434
down €13,434 (-29.9%), from €44,943 to €31,509
of which Trade receivables: -€8,592
- Cash +€7,297
up €7,297 (+48.7%), from €14,971 to €22,268
mainly Receivables within one year (+€13,434) and Depreciation (+€5,597)
- Tangible fixed assets -€3,284
down €3,284 (-31.2%), from €10,537 to €7,253
- Profit (loss) carried forward -€9,940
down €9,940 (-58.4%), from -€17,009 to -€26,949
- Other operating charges +€5,003
up €5,003 (+49.7%), from €10,066 to €15,069
- Taxes -€4,509
down €4,509 (-75.7%), from €5,960 to €1,451
- Depreciation -€4,114
down €4,114 (-42.4%), from €9,711 to €5,597
- Gross operating margin -€1,926
down €1,926 (-11.0%), from €17,474 to €15,548
- Financial charges +€232
up €232 (+7.4%), from €3,147 to €3,379
of which Non-recurring financial charges: +€211
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 | €72,134 | €62,354 | -€9,780 | -13.6% |
| Fixed assets | 21/28 | €10,590 | €7,306 | -€3,284 | -31.0% |
| Tangible fixed assets | 22/27 | €10,537 | €7,253 | -€3,284 | -31.2% |
| Land and buildings | 22 | €1,389 | - | -€1,389 | |
| Plant, machinery and equipment | 23 | €7,925 | €6,558 | -€1,367 | -17.2% |
| Furniture and vehicles | 24 | €1,223 | €695 | -€528 | -43.2% |
| Financial fixed assets | 28 | €53 | €53 | = | 0.0% |
| Current assets | 29/58 | €61,544 | €55,048 | -€6,496 | -10.6% |
| Amounts receivable within one year | 40/41 | €44,943 | €31,509 | -€13,434 | -29.9% |
| Trade receivables | 40 | €30,309 | €21,717 | -€8,592 | -28.3% |
| Other amounts receivable | 41 | €14,634 | €9,792 | -€4,842 | -33.1% |
| Cash at bank and in hand | 54/58 | €14,971 | €22,268 | +€7,297 | +48.7% |
| Deferred charges and accrued income | 490/1 | €1,630 | €1,271 | -€359 | -22.0% |
| Total equity and liabilities | 10/49 | €72,134 | €62,354 | -€9,780 | -13.6% |
| Equity | 10/15 | €60,318 | €50,378 | -€9,940 | -16.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €58,735 | €58,735 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,953 | €4,953 | = | 0.0% |
| Distributable reserves | 133 | €51,923 | €51,923 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€17,009 | -€26,949 | -€9,940 | -58.4% |
| Amounts payable | 17/49 | €11,816 | €11,976 | +€160 | +1.4% |
| Amounts payable within one year | 42/48 | €9,946 | €10,139 | +€193 | +1.9% |
| Trade debts | 44 | €4,002 | €4,032 | +€30 | +0.7% |
| Suppliers | 440/4 | €4,002 | €4,032 | +€30 | +0.7% |
| Taxes, remuneration and social security | 45 | €5,944 | €6,107 | +€163 | +2.7% |
| Taxes | 450/3 | €5,944 | €6,107 | +€163 | +2.7% |
| Accrued charges and deferred income | 492/3 | €1,870 | €1,837 | -€33 | -1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,711 | €5,597 | -€4,114 | -42.4% |
| Other operating charges | 640/8 | €10,066 | €15,069 | +€5,003 | +49.7% |
| Non-recurring operating charges | 66A | €1,626 | - | -€1,626 | |
| Gross operating margin | 9900 | €17,474 | €15,548 | -€1,926 | -11.0% |
| Operating profit (loss) | 9901 | -€3,929 | -€5,118 | -€1,189 | -30.3% |
| Financial income | 75/76B | - | €8 | +€8 | |
| Recurring financial income | 75 | - | €8 | +€8 | |
| Financial charges | 65/66B | €3,147 | €3,379 | +€232 | +7.4% |
| Recurring financial charges | 65 | €234 | €255 | +€21 | +9.0% |
| Non-recurring financial charges | 66B | €2,913 | €3,124 | +€211 | +7.2% |
| Profit (loss) for the period before taxes | 9903 | -€7,076 | -€8,489 | -€1,413 | -20.0% |
| Income taxes | 67/77 | €5,960 | €1,451 | -€4,509 | -75.7% |
| Profit (loss) for the period | 9904 | -€13,036 | -€9,940 | +€3,096 | +23.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,036 | -€9,940 | +€3,096 | +23.7% |
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 13 October 2026 via checked.be.