M-CONSULT: 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-CONSULT
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Other debts +€73,918
up €73,918 (+15.9%), from €466,018 to €539,936
- Profit (loss) carried forward -€39,320
down €39,320, from €14,495 to -€24,825
- Reserves -€20,561
down €20,561 (-4.4%), from €462,320 to €441,759
of which Tax-exempt reserves: -€20,561
- Debts after one year -€15,245
down €15,245 (-22.0%), from €69,185 to €53,940
- Gross operating margin -€7,721
down €7,721 (-394.0%), from -€1,960 to -€9,681
- Depreciation +€1,450
up €1,450 (+3.2%), from €45,225 to €46,675
- Financial charges -€808
down €808 (-28.9%), from €2,797 to €1,989
- Other operating charges +€562
up €562 (+7.3%), from €7,686 to €8,249
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 | €1,185,895 | €1,177,556 | -€8,339 | -0.7% |
| Fixed assets | 21/28 | €1,184,373 | €1,176,000 | -€8,373 | -0.7% |
| Tangible fixed assets | 22/27 | €1,184,373 | €1,176,000 | -€8,373 | -0.7% |
| Land and buildings | 22 | €1,180,191 | €1,174,613 | -€5,578 | -0.5% |
| Plant, machinery and equipment | 23 | €1,924 | €1,387 | -€537 | -27.9% |
| Assets under construction and advance payments | 27 | €2,258 | €0 | -€2,258 | -100.0% |
| Current assets | 29/58 | €1,522 | €1,557 | +€35 | +2.3% |
| Amounts receivable within one year | 40/41 | €161 | €0 | -€161 | -100.0% |
| Other amounts receivable | 41 | €161 | €0 | -€161 | -100.0% |
| Cash at bank and in hand | 54/58 | €893 | €839 | -€53 | -6.0% |
| Deferred charges and accrued income | 490/1 | €468 | €718 | +€249 | +53.2% |
| Total equity and liabilities | 10/49 | €1,185,895 | €1,177,556 | -€8,339 | -0.7% |
| Equity | 10/15 | €495,416 | €435,535 | -€59,881 | -12.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €462,320 | €441,759 | -€20,561 | -4.4% |
| Tax-exempt reserves | 132 | €411,663 | €391,102 | -€20,561 | -5.0% |
| Distributable reserves | 133 | €50,657 | €50,657 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,495 | -€24,825 | -€39,320 | |
| Provisions and deferred taxes | 16 | €137,221 | €130,367 | -€6,854 | -5.0% |
| Deferred taxes | 168 | €137,221 | €130,367 | -€6,854 | -5.0% |
| Amounts payable | 17/49 | €553,258 | €611,655 | +€58,396 | +10.6% |
| Amounts payable after more than one year | 17 | €69,185 | €53,940 | -€15,245 | -22.0% |
| Financial debts | 170/4 | €69,185 | €53,940 | -€15,245 | -22.0% |
| Amounts payable within one year | 42/48 | €484,073 | €557,714 | +€73,641 | +15.2% |
| Current portion of amounts payable after more than one year | 42 | €15,006 | €15,245 | +€239 | +1.6% |
| Trade debts | 44 | €2,672 | €862 | -€1,810 | -67.7% |
| Suppliers | 440/4 | €2,672 | €862 | -€1,810 | -67.7% |
| Taxes, remuneration and social security | 45 | €378 | €1,671 | +€1,293 | +341.8% |
| Taxes | 450/3 | €378 | €1,671 | +€1,293 | +341.8% |
| Other amounts payable | 47/48 | €466,018 | €539,936 | +€73,918 | +15.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,225 | €46,675 | +€1,450 | +3.2% |
| Other operating charges | 640/8 | €7,686 | €8,249 | +€562 | +7.3% |
| Gross operating margin | 9900 | -€1,960 | -€9,681 | -€7,721 | -394.0% |
| Operating profit (loss) | 9901 | -€54,871 | -€64,605 | -€9,734 | -17.7% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €2,797 | €1,989 | -€808 | -28.9% |
| Recurring financial charges | 65 | €2,797 | €1,989 | -€808 | -28.9% |
| Profit (loss) for the period before taxes | 9903 | -€57,668 | -€66,593 | -€8,925 | -15.5% |
| Transfer from deferred taxes | 780 | €6,854 | €6,854 | = | 0.0% |
| Income taxes | 67/77 | €148 | €141 | -€7 | -4.6% |
| Profit (loss) for the period | 9904 | -€50,963 | -€59,881 | -€8,919 | -17.5% |
| Transfer from tax-exempt reserves | 789 | €20,561 | €20,561 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,402 | -€39,320 | -€8,919 | -29.3% |
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 8 October 2026 via checked.be.