M & C M: 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 M
Largest movements
- Receivables within one year -€11,002
down €11,002 (-52.0%), from €21,142 to €10,140
of which Other amounts receivable: -€12,867
- Cash +€7,112
up €7,112 (+869.2%), from €818 to €7,930
mainly Receivables within one year (+€11,002) and Tax, wage and social debts (+€4,758)
- Tangible fixed assets -€3,831
down €3,831 (-16.6%), from €23,137 to €19,307
of which Furniture and vehicles: -€3,303
- Deferred charges and accrued income -€872
down €872 (-49.3%), from €1,768 to €896
- Other debts -€9,321
down €9,321 (-14.7%), from €63,337 to €54,016
- Profit (loss) carried forward -€5,984
down €5,984 (-15.2%), from -€39,482 to -€45,467
- Tax, wage and social debts +€4,758
up €4,758 (+1755.6%), from €271 to €5,029
of which Taxes: +€3,688
- Trade debts +€1,439
up €1,439 (+51.7%), from €2,781 to €4,220
- Accrued charges and deferred income +€515
up €515 (+37.9%), from €1,358 to €1,874
- Gross operating margin -€7,560
down €7,560, from €7,006 to -€555
- Financial charges -€455
down €455 (-45.0%), from €1,012 to €556
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 | €46,866 | €38,273 | -€8,592 | -18.3% |
| Fixed assets | 21/28 | €23,137 | €19,307 | -€3,831 | -16.6% |
| Tangible fixed assets | 22/27 | €23,137 | €19,307 | -€3,831 | -16.6% |
| Furniture and vehicles | 24 | €20,796 | €17,493 | -€3,303 | -15.9% |
| Other tangible fixed assets | 26 | €2,341 | €1,813 | -€528 | -22.5% |
| Current assets | 29/58 | €23,728 | €18,967 | -€4,762 | -20.1% |
| Amounts receivable within one year | 40/41 | €21,142 | €10,140 | -€11,002 | -52.0% |
| Trade receivables | 40 | €8,274 | €10,140 | +€1,866 | +22.5% |
| Other amounts receivable | 41 | €12,867 | - | -€12,867 | |
| Cash at bank and in hand | 54/58 | €818 | €7,930 | +€7,112 | +869.2% |
| Deferred charges and accrued income | 490/1 | €1,768 | €896 | -€872 | -49.3% |
| Total equity and liabilities | 10/49 | €46,866 | €38,273 | -€8,592 | -18.3% |
| Equity | 10/15 | -€20,882 | -€26,867 | -€5,984 | -28.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€39,482 | -€45,467 | -€5,984 | -15.2% |
| Amounts payable | 17/49 | €67,748 | €65,140 | -€2,608 | -3.8% |
| Amounts payable within one year | 42/48 | €66,390 | €63,266 | -€3,123 | -4.7% |
| Trade debts | 44 | €2,781 | €4,220 | +€1,439 | +51.7% |
| Suppliers | 440/4 | €2,781 | €4,220 | +€1,439 | +51.7% |
| Taxes, remuneration and social security | 45 | €271 | €5,029 | +€4,758 | +1755.6% |
| Taxes | 450/3 | €271 | €3,959 | +€3,688 | +1360.8% |
| Remuneration and social security | 454/9 | - | €1,070 | +€1,070 | |
| Other amounts payable | 47/48 | €63,337 | €54,016 | -€9,321 | -14.7% |
| Accrued charges and deferred income | 492/3 | €1,358 | €1,874 | +€515 | +37.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,831 | €3,831 | +€0 | 0.0% |
| Other operating charges | 640/8 | €869 | €902 | +€33 | +3.8% |
| Gross operating margin | 9900 | €7,006 | -€555 | -€7,560 | |
| Operating profit (loss) | 9901 | €2,306 | -€5,287 | -€7,593 | |
| Financial charges | 65/66B | €1,012 | €556 | -€455 | -45.0% |
| Recurring financial charges | 65 | €1,012 | €556 | -€455 | -45.0% |
| Profit (loss) for the period before taxes | 9903 | €1,295 | -€5,843 | -€7,138 | |
| Income taxes | 67/77 | €140 | €141 | +€1 | +1.0% |
| Profit (loss) for the period | 9904 | €1,155 | -€5,984 | -€7,139 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,155 | -€5,984 | -€7,139 |
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 4 October 2026 via checked.be.