M CONSOLIDATED TWO: 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 CONSOLIDATED TWO
Largest movements
- Receivables within one year -€56,910
down €56,910 (-91.9%), from €61,910 to €5,000
- Cash +€37,614
up €37,614 (+14.3%), from €262,966 to €300,581
mainly Net result for the year (+€58,372) and Receivables within one year (+€56,910)
- Other debts +€21,263
up €21,263 (+8.5%), from €248,879 to €270,141
- Reserves -€21,099
down €21,099 (-91.9%), from €22,959 to €1,860
of which Distributable reserves: -€21,099
- Profit (loss) carried forward -€17,088
down €17,088 (-22.6%), from €75,460 to €58,372
- Gross operating margin -€23,528
down €23,528 (-14.6%), from €160,613 to €137,085
- Taxes -€6,200
down €6,200 (-24.6%), from €25,200 to €19,000
- Financial charges -€1,757
down €1,757 (-93.1%), from €1,887 to €130
- Depreciation +€1,616
up €1,616 (+29.1%), from €5,547 to €7,163
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 | €372,159 | €355,701 | -€16,458 | -4.4% |
| Fixed assets | 21/28 | €16,881 | €16,638 | -€243 | -1.4% |
| Tangible fixed assets | 22/27 | €16,881 | €16,638 | -€243 | -1.4% |
| Land and buildings | 22 | €982 | €620 | -€363 | -36.9% |
| Plant, machinery and equipment | 23 | €13,464 | €8,748 | -€4,716 | -35.0% |
| Furniture and vehicles | 24 | €741 | €301 | -€441 | -59.4% |
| Other tangible fixed assets | 26 | €1,694 | €6,970 | +€5,276 | +311% |
| Current assets | 29/58 | €355,278 | €339,063 | -€16,215 | -4.6% |
| Stocks and contracts in progress | 3 | €28,077 | €29,372 | +€1,295 | +4.6% |
| Stocks | 30/36 | €28,077 | €29,372 | +€1,295 | +4.6% |
| Amounts receivable within one year | 40/41 | €61,910 | €5,000 | -€56,910 | -91.9% |
| Other amounts receivable | 41 | €61,910 | €5,000 | -€56,910 | -91.9% |
| Cash at bank and in hand | 54/58 | €262,966 | €300,581 | +€37,614 | +14.3% |
| Deferred charges and accrued income | 490/1 | €2,324 | €4,110 | +€1,786 | +76.9% |
| Total equity and liabilities | 10/49 | €372,159 | €355,701 | -€16,458 | -4.4% |
| Equity | 10/15 | €104,619 | €66,432 | -€38,187 | -36.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €22,959 | €1,860 | -€21,099 | -91.9% |
| 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 | €21,099 | - | -€21,099 | |
| Profit (loss) carried forward | 14 | €75,460 | €58,372 | -€17,088 | -22.6% |
| Amounts payable | 17/49 | €267,540 | €289,269 | +€21,730 | +8.1% |
| Amounts payable within one year | 42/48 | €267,540 | €289,269 | +€21,730 | +8.1% |
| Trade debts | 44 | €12,621 | €12,659 | +€37 | +0.3% |
| Suppliers | 440/4 | €12,621 | €12,659 | +€37 | +0.3% |
| Taxes, remuneration and social security | 45 | €6,040 | €6,469 | +€430 | +7.1% |
| Taxes | 450/3 | €858 | €1,114 | +€256 | +29.8% |
| Remuneration and social security | 454/9 | €5,181 | €5,355 | +€174 | +3.4% |
| Other amounts payable | 47/48 | €248,879 | €270,141 | +€21,263 | +8.5% |
| Non-recurring operating income | 76A | - | €32,000 | +€32,000 | |
| Remuneration, social security and pensions | 62 | €49,837 | €51,065 | +€1,228 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,547 | €7,163 | +€1,616 | +29.1% |
| Other operating charges | 640/8 | €2,694 | €1,370 | -€1,323 | -49.1% |
| Gross operating margin | 9900 | €160,613 | €137,085 | -€23,528 | -14.6% |
| Operating profit (loss) | 9901 | €102,535 | €77,486 | -€25,049 | -24.4% |
| Financial income | 75/76B | €12 | €16 | +€4 | +33.1% |
| Recurring financial income | 75 | €12 | €16 | +€4 | +33.1% |
| Financial charges | 65/66B | €1,887 | €130 | -€1,757 | -93.1% |
| Recurring financial charges | 65 | €1,887 | €130 | -€1,757 | -93.1% |
| Profit (loss) for the period before taxes | 9903 | €100,660 | €77,372 | -€23,288 | -23.1% |
| Income taxes | 67/77 | €25,200 | €19,000 | -€6,200 | -24.6% |
| Profit (loss) for the period | 9904 | €75,460 | €58,372 | -€17,088 | -22.6% |
| Profit (loss) for the period to be appropriated | 9905 | €75,460 | €58,372 | -€17,088 | -22.6% |
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.