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
- Cash -€47,045
down €47,045 (-72.3%), from €65,039 to €17,994
mainly Debts after one year (-€35,160) and Receivables within one year (-€21,651)
- Receivables within one year +€21,651
up €21,651 (+47.3%), from €45,750 to €67,401
of which Other amounts receivable: +€22,450
- Tangible fixed assets +€9,648
up €9,648 (+10.5%), from €91,550 to €101,199
of which Other tangible fixed assets: +€68,346
- Debts after one year -€35,160
down €35,160 (-31.5%), from €111,731 to €76,571
- Reserves +€17,108
up €17,108 (+21.3%), from €80,270 to €97,379
- Trade debts +€5,742
up €5,742 (+521.0%), from €1,102 to €6,844
- Tax, wage and social debts -€3,824
down €3,824 (-17.4%), from €21,951 to €18,127
- Gross operating margin +€23,905
up €23,905 (+87.0%), from €27,486 to €51,391
- Taxes +€6,987
up €6,987 (+172.2%), from €4,058 to €11,045
- Financial charges +€3,594
up €3,594 (+45.9%), from €7,835 to €11,428
- Depreciation -€3,553
down €3,553 (-27.5%), from €12,925 to €9,373
- Other operating charges +€2,380
up €2,380 (+123.2%), from €1,932 to €4,312
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 | €254,694 | €239,081 | -€15,613 | -6.1% |
| Fixed assets | 21/28 | €92,300 | €101,974 | +€9,673 | +10.5% |
| Tangible fixed assets | 22/27 | €91,550 | €101,199 | +€9,648 | +10.5% |
| Plant, machinery and equipment | 23 | €10,322 | €9,796 | -€527 | -5.1% |
| Furniture and vehicles | 24 | €33,955 | €8,207 | -€25,749 | -75.8% |
| Other tangible fixed assets | 26 | €14,850 | €83,196 | +€68,346 | +460.2% |
| Assets under construction and advance payments | 27 | €32,423 | €0 | -€32,423 | -100.0% |
| Financial fixed assets | 28 | €750 | €775 | +€25 | +3.3% |
| Current assets | 29/58 | €162,393 | €137,108 | -€25,286 | -15.6% |
| Amounts receivable within one year | 40/41 | €45,750 | €67,401 | +€21,651 | +47.3% |
| Trade receivables | 40 | €16,892 | €16,093 | -€799 | -4.7% |
| Other amounts receivable | 41 | €28,858 | €51,308 | +€22,450 | +77.8% |
| Current investments | 50/53 | €50,000 | €50,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €65,039 | €17,994 | -€47,045 | -72.3% |
| Deferred charges and accrued income | 490/1 | €1,605 | €1,713 | +€108 | +6.7% |
| Total equity and liabilities | 10/49 | €254,694 | €239,081 | -€15,613 | -6.1% |
| Equity | 10/15 | €85,270 | €102,379 | +€17,108 | +20.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €80,270 | €97,379 | +€17,108 | +21.3% |
| Distributable reserves | 133 | €80,270 | €97,379 | +€17,108 | +21.3% |
| Amounts payable | 17/49 | €169,423 | €136,702 | -€32,721 | -19.3% |
| Amounts payable after more than one year | 17 | €111,731 | €76,571 | -€35,160 | -31.5% |
| Financial debts | 170/4 | €111,731 | €76,571 | -€35,160 | -31.5% |
| Amounts payable within one year | 42/48 | €57,692 | €60,132 | +€2,439 | +4.2% |
| Current portion of amounts payable after more than one year | 42 | €23,783 | €24,835 | +€1,053 | +4.4% |
| Financial debts | 43 | €10,856 | €10,325 | -€531 | -4.9% |
| Credit institutions | 430/8 | €10,856 | €10,325 | -€531 | -4.9% |
| Trade debts | 44 | €1,102 | €6,844 | +€5,742 | +521.0% |
| Suppliers | 440/4 | €1,102 | €6,844 | +€5,742 | +521.0% |
| Taxes, remuneration and social security | 45 | €21,951 | €18,127 | -€3,824 | -17.4% |
| Taxes | 450/3 | €21,951 | €18,127 | -€3,824 | -17.4% |
| Non-recurring operating income | 76A | €2,569 | €0 | -€2,569 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,925 | €9,373 | -€3,553 | -27.5% |
| Other operating charges | 640/8 | €1,932 | €4,312 | +€2,380 | +123.2% |
| Gross operating margin | 9900 | €27,486 | €51,391 | +€23,905 | +87.0% |
| Operating profit (loss) | 9901 | €12,628 | €37,706 | +€25,078 | +198.6% |
| Financial income | 75/76B | €1,972 | €1,875 | -€97 | -4.9% |
| Recurring financial income | 75 | €1,972 | €1,875 | -€97 | -4.9% |
| Financial charges | 65/66B | €7,835 | €11,428 | +€3,594 | +45.9% |
| Recurring financial charges | 65 | €7,835 | €11,428 | +€3,594 | +45.9% |
| Profit (loss) for the period before taxes | 9903 | €6,766 | €28,153 | +€21,387 | +316.1% |
| Income taxes | 67/77 | €4,058 | €11,045 | +€6,987 | +172.2% |
| Profit (loss) for the period | 9904 | €2,708 | €17,108 | +€14,400 | +531.8% |
| Profit (loss) for the period to be appropriated | 9905 | €2,708 | €17,108 | +€14,400 | +531.8% |
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 3 October 2026 via checked.be.