M² Design: 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.
M² Design
Largest movements
- Stocks and contracts +€10,505
up €10,505 (+737.2%), from €1,425 to €11,930
- Receivables within one year +€7,501
up €7,501 (+18.6%), from €40,265 to €47,766
of which Other amounts receivable: +€5,304
- Tangible fixed assets +€6,745
up €6,745 (+329.3%), from €2,048 to €8,793
of which Plant, machinery and equipment: +€6,995
- Cash -€4,241
down €4,241 (-93.8%), from €4,522 to €282
mainly Stocks and contracts (-€10,505) and Investment in fixed assets (net) (-€9,594)
- Profit (loss) carried forward +€9,444
up €9,444 (+632.6%), from €1,493 to €10,936
- Trade debts +€9,244
up €9,244 (+52.1%), from €17,728 to €26,973
- Debts after one year +€5,404
new in 2025: €5,404
- Advances received -€4,851
down €4,851 (-53.3%), from €9,106 to €4,256
- Current portion of long-term debt +€2,892
new in 2025: €2,892
- Other operating charges -€8,838
down €8,838 (-95.7%), from €9,238 to €400
- Financial charges -€2,775
down €2,775 (-58.4%), from €4,748 to €1,973
- Depreciation +€2,090
up €2,090 (+275.1%), from €760 to €2,849
- Gross operating margin +€1,338
up €1,338 (+10.1%), from €13,245 to €14,583
- Write-downs +€528
new in 2025: €528
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 | €48,795 | €69,993 | +€21,198 | +43.4% |
| Fixed assets | 21/28 | €2,048 | €8,793 | +€6,745 | +329.3% |
| Tangible fixed assets | 22/27 | €2,048 | €8,793 | +€6,745 | +329.3% |
| Plant, machinery and equipment | 23 | €1,549 | €8,544 | +€6,995 | +451.7% |
| Furniture and vehicles | 24 | €499 | €249 | -€250 | -50.1% |
| Current assets | 29/58 | €46,747 | €61,199 | +€14,452 | +30.9% |
| Stocks and contracts in progress | 3 | €1,425 | €11,930 | +€10,505 | +737.2% |
| Stocks | 30/36 | €1,425 | €11,930 | +€10,505 | +737.2% |
| Amounts receivable within one year | 40/41 | €40,265 | €47,766 | +€7,501 | +18.6% |
| Trade receivables | 40 | €20,231 | €22,428 | +€2,197 | +10.9% |
| Other amounts receivable | 41 | €20,034 | €25,338 | +€5,304 | +26.5% |
| Cash at bank and in hand | 54/58 | €4,522 | €282 | -€4,241 | -93.8% |
| Deferred charges and accrued income | 490/1 | €535 | €1,222 | +€687 | +128.5% |
| Total equity and liabilities | 10/49 | €48,795 | €69,993 | +€21,198 | +43.4% |
| Equity | 10/15 | €16,592 | €26,036 | +€9,444 | +56.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €8,899 | €8,899 | = | 0.0% |
| Non-distributable reserves | 130/1 | €870 | €870 | = | 0.0% |
| Reserves not available under the articles | 1311 | €870 | €870 | = | 0.0% |
| Distributable reserves | 133 | €8,029 | €8,029 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,493 | €10,936 | +€9,444 | +632.6% |
| Amounts payable | 17/49 | €32,203 | €43,957 | +€11,754 | +36.5% |
| Amounts payable after more than one year | 17 | - | €5,404 | +€5,404 | |
| Financial debts | 170/4 | - | €5,404 | +€5,404 | |
| Amounts payable within one year | 42/48 | €32,203 | €38,554 | +€6,350 | +19.7% |
| Current portion of amounts payable after more than one year | 42 | - | €2,892 | +€2,892 | |
| Financial debts | 43 | €3,298 | €3,714 | +€416 | +12.6% |
| Credit institutions | 430/8 | €3,298 | €3,714 | +€416 | +12.6% |
| Trade debts | 44 | €17,728 | €26,973 | +€9,244 | +52.1% |
| Suppliers | 440/4 | €17,728 | €26,973 | +€9,244 | +52.1% |
| Advances received on contracts in progress | 46 | €9,106 | €4,256 | -€4,851 | -53.3% |
| Taxes, remuneration and social security | 45 | €2,071 | €720 | -€1,351 | -65.2% |
| Taxes | 450/3 | €571 | €720 | +€149 | +26.0% |
| Remuneration and social security | 454/9 | €1,500 | - | -€1,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €760 | €2,849 | +€2,090 | +275.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €528 | +€528 | |
| Other operating charges | 640/8 | €9,238 | €400 | -€8,838 | -95.7% |
| Gross operating margin | 9900 | €13,245 | €14,583 | +€1,338 | +10.1% |
| Operating profit (loss) | 9901 | €3,248 | €10,806 | +€7,559 | +232.7% |
| Financial income | 75/76B | €1,251 | €1,190 | -€60 | -4.8% |
| Recurring financial income | 75 | €1,251 | €1,190 | -€60 | -4.8% |
| Financial charges | 65/66B | €4,748 | €1,973 | -€2,775 | -58.4% |
| Recurring financial charges | 65 | €4,748 | €1,973 | -€2,775 | -58.4% |
| Profit (loss) for the period before taxes | 9903 | -€249 | €10,024 | +€10,273 | |
| Income taxes | 67/77 | €131 | €580 | +€449 | +342.8% |
| Profit (loss) for the period | 9904 | -€380 | €9,444 | +€9,824 | |
| Profit (loss) for the period to be appropriated | 9905 | -€380 | €9,444 | +€9,824 |
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 2 October 2026 via checked.be.