M & C: what changed
Two fiscal 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 & C
Largest movements
- Cash -€1,388
down €1,388 (-97.3%), from €1,426 to €39
mainly Net result for the year (-€1,027) and Trade debts (-€361)
- Profit (loss) carried forward -€1,027
down €1,027 (-5.3%), from -€19,457 to -€20,483
- Trade debts -€361
down €361 (-85.4%), from €423 to €62
- Gross operating margin -€169
down €169 (-41.9%), from -€404 to -€574
- Other operating charges +€12
up €12 (+3.2%), from €387 to €400
- Financial charges +€7
up €7 (+16.2%), from €46 to €53
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.
Cash bridge derived
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 | €1,426 | €39 | -€1,388 | -97.3% |
| Current assets | 29/58 | €1,426 | €39 | -€1,388 | -97.3% |
| Cash at bank and in hand | 54/58 | €1,426 | €39 | -€1,388 | -97.3% |
| Total equity and liabilities | 10/49 | €1,426 | €39 | -€1,388 | -97.3% |
| Equity | 10/15 | €1,003 | -€23 | -€1,027 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,457 | -€20,483 | -€1,027 | -5.3% |
| Amounts payable | 17/49 | €423 | €62 | -€361 | -85.4% |
| Amounts payable within one year | 42/48 | €423 | €62 | -€361 | -85.4% |
| Trade debts | 44 | €423 | €62 | -€361 | -85.4% |
| Suppliers | 440/4 | €423 | €62 | -€361 | -85.4% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€404 | -€574 | -€169 | -41.9% |
| Operating profit (loss) | 9901 | -€792 | -€973 | -€182 | -23.0% |
| Financial charges | 65/66B | €46 | €53 | +€7 | +16.2% |
| Recurring financial charges | 65 | €46 | €53 | +€7 | +16.2% |
| Profit (loss) for the period before taxes | 9903 | -€837 | -€1,027 | -€189 | -22.6% |
| Profit (loss) for the period | 9904 | -€837 | -€1,027 | -€189 | -22.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€837 | -€1,027 | -€189 | -22.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.