M Bird: 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 Bird
Largest movements
- Financial fixed assets +€3.8m
new in 2026: €3.8m
- Cash +€124,705
up €124,705 (+72.4%), from €172,251 to €296,956
mainly Contributions, distributions and other (+€1.9m) and Net result for the year (+€767,774)
- Contributions +€1.9m
up €1.9m (+37,974%), from €5,000 to €1.9m
- Reserves +€767,774
new in 2026: €767,774
- Debts after one year +€641,667
new in 2026: €641,667
- Current portion of long-term debt +€320,833
new in 2026: €320,833
- Other debts +€180,469
up €180,469 (+71.9%), from €250,867 to €431,336
- Financial income +€662,037
new in 2026: €662,037
- Taxes +€74,421
up €74,421 (+116%), from €64,051 to €138,472
- Gross operating margin -€24,285
down €24,285 (-8.0%), from €303,235 to €278,950
- Financial charges +€3,640
up €3,640 (+7,883%), from €46 to €3,686
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €287,401 | €4,167,113 | +€3.9m | +1,350% |
| Fixed assets | 21/28 | €75,651 | €3,869,791 | +€3.8m | +5,015% |
| Tangible fixed assets | 22/27 | €75,651 | €46,082 | -€29,570 | -39.1% |
| Furniture and vehicles | 24 | €75,651 | €46,082 | -€29,570 | -39.1% |
| Financial fixed assets | 28 | - | €3,823,709 | +€3.8m | |
| Current assets | 29/58 | €211,750 | €297,322 | +€85,572 | +40.4% |
| Amounts receivable within one year | 40/41 | €38,018 | €0 | -€38,018 | -100% |
| Trade receivables | 40 | €38,018 | €0 | -€38,018 | -100% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €172,251 | €296,956 | +€124,705 | +72.4% |
| Deferred charges and accrued income | 490/1 | €1,480 | €366 | -€1,114 | -75.3% |
| Total equity and liabilities | 10/49 | €287,401 | €4,167,113 | +€3.9m | +1,350% |
| Equity | 10/15 | €5,000 | €2,671,483 | +€2.7m | +53,330% |
| Contributions | 10/11 | €5,000 | €1,903,709 | +€1.9m | +37,974% |
| Reserves | 13 | - | €767,774 | +€767,774 | |
| Distributable reserves | 133 | - | €767,774 | +€767,774 | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €282,401 | €1,495,629 | +€1.2m | +430% |
| Amounts payable after more than one year | 17 | - | €641,667 | +€641,667 | |
| Financial debts | 170/4 | - | €641,667 | +€641,667 | |
| Amounts payable within one year | 42/48 | €282,401 | €853,963 | +€571,562 | +202% |
| Current portion of amounts payable after more than one year | 42 | - | €320,833 | +€320,833 | |
| Trade debts | 44 | €112 | €0 | -€112 | -100% |
| Suppliers | 440/4 | €112 | €0 | -€112 | -100% |
| Taxes, remuneration and social security | 45 | €31,422 | €101,793 | +€70,371 | +224% |
| Taxes | 450/3 | €28,422 | €98,793 | +€70,371 | +248% |
| Remuneration and social security | 454/9 | €3,000 | €3,000 | = | 0.0% |
| Other amounts payable | 47/48 | €250,867 | €431,336 | +€180,469 | +71.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,425 | €29,570 | +€1,145 | +4.0% |
| Other operating charges | 640/8 | €507 | €1,485 | +€977 | +193% |
| Gross operating margin | 9900 | €303,235 | €278,950 | -€24,285 | -8.0% |
| Operating profit (loss) | 9901 | €274,303 | €247,896 | -€26,407 | -9.6% |
| Financial income | 75/76B | - | €662,037 | +€662,037 | |
| Recurring financial income | 75 | - | €662,037 | +€662,037 | |
| Financial charges | 65/66B | €46 | €3,686 | +€3,640 | +7,883% |
| Recurring financial charges | 65 | €46 | €3,686 | +€3,640 | +7,883% |
| Profit (loss) for the period before taxes | 9903 | €274,256 | €906,246 | +€631,990 | +230% |
| Income taxes | 67/77 | €64,051 | €138,472 | +€74,421 | +116% |
| Profit (loss) for the period | 9904 | €210,205 | €767,774 | +€557,569 | +265% |
| Profit (loss) for the period to be appropriated | 9905 | €210,205 | €767,774 | +€557,569 | +265% |
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.