M.BROTHERS: 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.BROTHERS
Largest movements
- Tangible fixed assets -€13,068
down €13,068 (-59.8%), from €21,861 to €8,793
of which Plant, machinery and equipment: -€6,850
- Intangible fixed assets -€8,000
down €8,000 (-24.5%), from €32,667 to €24,667
- Cash -€6,323
down €6,323 (-36.3%), from €17,416 to €11,094
mainly Trade debts (-€10,816) and Tax, wage and social debts (-€9,671)
- Stocks and contracts +€3,727
up €3,727 (+446%), from €835 to €4,562
- Receivables within one year +€2,542
up €2,542 (+1,658%), from €153 to €2,695
- Trade debts -€10,816
down €10,816 (-51.9%), from €20,852 to €10,036
- Tax, wage and social debts -€9,671
down €9,671 (-40.4%), from €23,961 to €14,290
of which Taxes: -€6,028
- Gross operating margin -€53,608
down €53,608 (-39.8%), from €134,531 to €80,922
- Other operating charges -€37,940
down €37,940 (-82.3%), from €46,073 to €8,133
- Staff costs -€20,540
down €20,540 (-30.8%), from €66,605 to €46,065
- Depreciation +€3,342
up €3,342 (+16.3%), from €20,526 to €23,868
- Taxes -€1,497
down €1,497 (-49.0%), from €3,052 to €1,555
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 | €72,932 | €51,811 | -€21,122 | -29.0% |
| Fixed assets | 21/28 | €54,528 | €33,460 | -€21,068 | -38.6% |
| Intangible fixed assets | 21 | €32,667 | €24,667 | -€8,000 | -24.5% |
| Tangible fixed assets | 22/27 | €21,861 | €8,793 | -€13,068 | -59.8% |
| Plant, machinery and equipment | 23 | €10,664 | €3,814 | -€6,850 | -64.2% |
| Furniture and vehicles | 24 | €11,196 | €4,979 | -€6,217 | -55.5% |
| Current assets | 29/58 | €18,405 | €18,351 | -€54 | -0.3% |
| Stocks and contracts in progress | 3 | €835 | €4,562 | +€3,727 | +446% |
| Stocks | 30/36 | €835 | €4,562 | +€3,727 | +446% |
| Amounts receivable within one year | 40/41 | €153 | €2,695 | +€2,542 | +1,658% |
| Other amounts receivable | 41 | €153 | €2,695 | +€2,542 | +1,658% |
| Cash at bank and in hand | 54/58 | €17,416 | €11,094 | -€6,323 | -36.3% |
| Total equity and liabilities | 10/49 | €72,932 | €51,811 | -€21,122 | -29.0% |
| Equity | 10/15 | €27,892 | €27,484 | -€408 | -1.5% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,632 | €13,224 | -€408 | -3.0% |
| Amounts payable | 17/49 | €45,040 | €24,326 | -€20,714 | -46.0% |
| Amounts payable within one year | 42/48 | €45,040 | €24,326 | -€20,714 | -46.0% |
| Trade debts | 44 | €20,852 | €10,036 | -€10,816 | -51.9% |
| Suppliers | 440/4 | €20,852 | €10,036 | -€10,816 | -51.9% |
| Taxes, remuneration and social security | 45 | €23,961 | €14,290 | -€9,671 | -40.4% |
| Taxes | 450/3 | €8,943 | €2,915 | -€6,028 | -67.4% |
| Remuneration and social security | 454/9 | €15,018 | €11,376 | -€3,642 | -24.3% |
| Other amounts payable | 47/48 | €227 | - | -€227 | |
| Remuneration, social security and pensions | 62 | €66,605 | €46,065 | -€20,540 | -30.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,526 | €23,868 | +€3,342 | +16.3% |
| Other operating charges | 640/8 | €46,073 | €8,133 | -€37,940 | -82.3% |
| Gross operating margin | 9900 | €134,531 | €80,922 | -€53,608 | -39.8% |
| Operating profit (loss) | 9901 | €1,328 | €2,857 | +€1,529 | +115% |
| Financial income | 75/76B | - | €5 | +€5 | |
| Recurring financial income | 75 | - | €5 | +€5 | |
| Financial charges | 65/66B | €1,064 | €1,714 | +€650 | +61.1% |
| Recurring financial charges | 65 | €1,064 | €1,714 | +€650 | +61.1% |
| Profit (loss) for the period before taxes | 9903 | €264 | €1,148 | +€884 | +335% |
| Income taxes | 67/77 | €3,052 | €1,555 | -€1,497 | -49.0% |
| Profit (loss) for the period | 9904 | -€2,789 | -€408 | +€2,381 | +85.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,789 | -€408 | +€2,381 | +85.4% |
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 21 October 2026 via checked.be.