M&A GROUP: 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 GROUP
Largest movements
- Tangible fixed assets -€9,509
down €9,509 (-95.1%), from €9,999 to €490
of which Furniture and vehicles: -€9,099
- Deferred charges and accrued income +€3,581
new in 2025: €3,581
- Cash -€1,642
down €1,642 (-23.9%), from €6,882 to €5,240
mainly Other debts (-€13,164) and Deferred charges and accrued income (-€3,581)
- Other debts -€13,164
down €13,164 (-70.7%), from €18,622 to €5,458
- Profit (loss) carried forward +€6,002
up €6,002 (+406%), from €1,479 to €7,481
- Trade debts -€489
down €489 (-38.2%), from €1,279 to €790
- Depreciation -€2,264
down €2,264 (-19.2%), from €11,773 to €9,509
- Gross operating margin +€920
up €920 (+6.1%), from €15,145 to €16,064
- Other operating charges -€284
down €284 (-41.6%), from €684 to €400
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 | €22,980 | €15,228 | -€7,752 | -33.7% |
| Fixed assets | 21/28 | €10,093 | €583 | -€9,509 | -94.2% |
| Tangible fixed assets | 22/27 | €9,999 | €490 | -€9,509 | -95.1% |
| Plant, machinery and equipment | 23 | €411 | - | -€411 | |
| Furniture and vehicles | 24 | €9,588 | €490 | -€9,099 | -94.9% |
| Financial fixed assets | 28 | €94 | €94 | = | 0.0% |
| Current assets | 29/58 | €12,887 | €14,645 | +€1,758 | +13.6% |
| Amounts receivable within one year | 40/41 | €6,005 | €5,824 | -€181 | -3.0% |
| Trade receivables | 40 | €1,329 | €4,087 | +€2,758 | +207% |
| Other amounts receivable | 41 | €4,676 | €1,736 | -€2,940 | -62.9% |
| Cash at bank and in hand | 54/58 | €6,882 | €5,240 | -€1,642 | -23.9% |
| Deferred charges and accrued income | 490/1 | - | €3,581 | +€3,581 | |
| Total equity and liabilities | 10/49 | €22,980 | €15,228 | -€7,752 | -33.7% |
| Equity | 10/15 | €2,979 | €8,981 | +€6,002 | +201% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,479 | €7,481 | +€6,002 | +406% |
| Amounts payable | 17/49 | €20,001 | €6,247 | -€13,754 | -68.8% |
| Amounts payable within one year | 42/48 | €20,001 | €6,247 | -€13,754 | -68.8% |
| Trade debts | 44 | €1,279 | €790 | -€489 | -38.2% |
| Suppliers | 440/4 | €1,279 | €790 | -€489 | -38.2% |
| Taxes, remuneration and social security | 45 | €101 | - | -€101 | |
| Taxes | 450/3 | €101 | - | -€101 | |
| Other amounts payable | 47/48 | €18,622 | €5,458 | -€13,164 | -70.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,773 | €9,509 | -€2,264 | -19.2% |
| Other operating charges | 640/8 | €684 | €400 | -€284 | -41.6% |
| Gross operating margin | 9900 | €15,145 | €16,064 | +€920 | +6.1% |
| Operating profit (loss) | 9901 | €2,687 | €6,155 | +€3,468 | +129% |
| Financial income | 75/76B | €0 | €0 | +€0 | +200% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +200% |
| Non-recurring financial income | 76B | €0 | €0 | +€0 | +200% |
| Financial charges | 65/66B | €161 | €153 | -€7 | -4.5% |
| Recurring financial charges | 65 | €161 | €153 | -€7 | -4.5% |
| Non-recurring financial charges | 66B | €161 | €153 | -€7 | -4.5% |
| Profit (loss) for the period before taxes | 9903 | €2,527 | €6,002 | +€3,475 | +138% |
| Profit (loss) for the period | 9904 | €2,527 | €6,002 | +€3,475 | +138% |
| Profit (loss) for the period to be appropriated | 9905 | €2,527 | €6,002 | +€3,475 | +138% |
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 20 October 2026 via checked.be.