M AND N: 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 AND N
Largest movements
- Stocks and contracts -€5,145
down €5,145 (-11.4%), from €45,246 to €40,101
- Cash -€2,773
down €2,773 (-8.1%), from €34,190 to €31,417
mainly Debts after one year (-€8,000) and Tax, wage and social debts (-€7,484)
- Receivables within one year +€2,580
up €2,580 (+37.3%), from €6,915 to €9,495
- Trade debts +€15,320
up €15,320 (+240%), from €6,385 to €21,704
- Debts after one year -€8,000
down €8,000 (-17.4%), from €46,000 to €38,000
- Tax, wage and social debts -€7,484
down €7,484 (-94.9%), from €7,890 to €406
- Other debts -€5,013
down €5,013 (-50.8%), from €9,874 to €4,861
- Purchases and services +€20,173
up €20,173 (+4.9%), from €408,676 to €428,849
- Turnover +€10,227
up €10,227 (+2.5%), from €413,830 to €424,057
- Gross operating margin -€8,380
down €8,380 (-64.4%), from €13,016 to €4,635
- Other operating charges -€8,170
down €8,170 (-77.5%), from €10,537 to €2,367
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 | €86,659 | €81,278 | -€5,381 | -6.2% |
| Current assets | 29/58 | €86,659 | €81,278 | -€5,381 | -6.2% |
| Stocks and contracts in progress | 3 | €45,246 | €40,101 | -€5,145 | -11.4% |
| Stocks | 30/36 | €45,246 | €40,101 | -€5,145 | -11.4% |
| Amounts receivable within one year | 40/41 | €6,915 | €9,495 | +€2,580 | +37.3% |
| Other amounts receivable | 41 | €6,915 | €9,495 | +€2,580 | +37.3% |
| Cash at bank and in hand | 54/58 | €34,190 | €31,417 | -€2,773 | -8.1% |
| Deferred charges and accrued income | 490/1 | €308 | €265 | -€43 | -14.0% |
| Total equity and liabilities | 10/49 | €86,659 | €81,278 | -€5,381 | -6.2% |
| Equity | 10/15 | €16,510 | €16,307 | -€204 | -1.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €4,437 | €4,437 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €2,577 | €2,577 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,527 | -€6,730 | -€204 | -3.1% |
| Amounts payable | 17/49 | €70,149 | €64,972 | -€5,177 | -7.4% |
| Amounts payable after more than one year | 17 | €46,000 | €38,000 | -€8,000 | -17.4% |
| Other amounts payable | 178/9 | €46,000 | €38,000 | -€8,000 | -17.4% |
| Amounts payable within one year | 42/48 | €24,149 | €26,972 | +€2,823 | +11.7% |
| Trade debts | 44 | €6,385 | €21,704 | +€15,320 | +240% |
| Suppliers | 440/4 | €6,385 | €21,704 | +€15,320 | +240% |
| Taxes, remuneration and social security | 45 | €7,890 | €406 | -€7,484 | -94.9% |
| Remuneration and social security | 454/9 | €7,890 | €406 | -€7,484 | -94.9% |
| Other amounts payable | 47/48 | €9,874 | €4,861 | -€5,013 | -50.8% |
| Turnover | 70 | €413,830 | €424,057 | +€10,227 | +2.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €408,676 | €428,849 | +€20,173 | +4.9% |
| Other operating charges | 640/8 | €10,537 | €2,367 | -€8,170 | -77.5% |
| Gross operating margin | 9900 | €13,016 | €4,635 | -€8,380 | -64.4% |
| Operating profit (loss) | 9901 | €2,478 | €2,268 | -€210 | -8.5% |
| Financial charges | 65/66B | €224 | €200 | -€24 | -10.8% |
| Recurring financial charges | 65 | €224 | €200 | -€24 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | €2,255 | €2,069 | -€186 | -8.2% |
| Income taxes | 67/77 | - | €2,272 | +€2,272 | |
| Profit (loss) for the period | 9904 | €2,255 | -€204 | -€2,458 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,255 | -€204 | -€2,458 |
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 25 October 2026 via checked.be.