M et 3i: 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 et 3i
Largest movements
- Receivables within one year +€8,537
up €8,537 (+10.2%), from €83,340 to €91,877
of which Trade receivables: +€11,037
- Tangible fixed assets -€3,164
down €3,164 (-15.5%), from €20,381 to €17,217
of which Furniture and vehicles: -€5,286
- Reserves -€48,700
down €48,700 (-29.5%), from €165,337 to €116,637
of which Distributable reserves: -€48,700
- Other debts +€46,172
up €46,172 (+137%), from €33,767 to €79,939
- Tax, wage and social debts +€8,118
up €8,118 (+12.7%), from €63,883 to €72,001
of which Taxes: +€8,118
- Profit (loss) carried forward +€4,662
up €4,662 (+3.9%), from -€118,585 to -€113,924
- Trade debts -€2,214
down €2,214 (-62.0%), from €3,573 to €1,359
- Taxes -€4,912
down €4,912 (-29.7%), from €16,539 to €11,627
- Gross operating margin -€3,484
down €3,484 (-8.0%), from €43,451 to €39,967
- Write-downs -€2,652
no longer reported in 2025 (was €2,652)
- Depreciation +€1,549
up €1,549 (+34.6%), from €4,480 to €6,029
- Financial income +€1,283
new in 2025: €1,283
of which Financial income: +€1,283
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 | €197,137 | €205,175 | +€8,037 | +4.1% |
| Fixed assets | 21/28 | €20,713 | €17,549 | -€3,164 | -15.3% |
| Tangible fixed assets | 22/27 | €20,381 | €17,217 | -€3,164 | -15.5% |
| Plant, machinery and equipment | 23 | - | €2,122 | +€2,122 | |
| Furniture and vehicles | 24 | €20,381 | €15,095 | -€5,286 | -25.9% |
| Financial fixed assets | 28 | €333 | €333 | = | 0.0% |
| Current assets | 29/58 | €176,424 | €187,625 | +€11,201 | +6.3% |
| Amounts receivable after more than one year | 29 | €57,000 | €57,000 | = | 0.0% |
| Trade receivables | 290 | €57,000 | €57,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €83,340 | €91,877 | +€8,537 | +10.2% |
| Trade receivables | 40 | €14,082 | €25,119 | +€11,037 | +78.4% |
| Other amounts receivable | 41 | €69,258 | €66,758 | -€2,500 | -3.6% |
| Cash at bank and in hand | 54/58 | €35,061 | €36,626 | +€1,566 | +4.5% |
| Deferred charges and accrued income | 490/1 | €1,024 | €2,122 | +€1,098 | +107% |
| Total equity and liabilities | 10/49 | €197,137 | €205,175 | +€8,037 | +4.1% |
| Equity | 10/15 | €95,914 | €51,876 | -€44,038 | -45.9% |
| Contributions | 10/11 | €49,162 | €49,162 | = | 0.0% |
| Reserves | 13 | €165,337 | €116,637 | -€48,700 | -29.5% |
| Tax-exempt reserves | 132 | €69,637 | €69,637 | = | 0.0% |
| Distributable reserves | 133 | €95,700 | €47,000 | -€48,700 | -50.9% |
| Profit (loss) carried forward | 14 | -€118,585 | -€113,924 | +€4,662 | +3.9% |
| Amounts payable | 17/49 | €101,223 | €153,299 | +€52,075 | +51.4% |
| Amounts payable within one year | 42/48 | €101,223 | €153,299 | +€52,075 | +51.4% |
| Trade debts | 44 | €3,573 | €1,359 | -€2,214 | -62.0% |
| Suppliers | 440/4 | €3,573 | €1,359 | -€2,214 | -62.0% |
| Taxes, remuneration and social security | 45 | €63,883 | €72,001 | +€8,118 | +12.7% |
| Taxes | 450/3 | €61,283 | €69,401 | +€8,118 | +13.2% |
| Remuneration and social security | 454/9 | €2,600 | €2,600 | = | 0.0% |
| Other amounts payable | 47/48 | €33,767 | €79,939 | +€46,172 | +137% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,480 | €6,029 | +€1,549 | +34.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,652 | - | -€2,652 | |
| Other operating charges | 640/8 | €653 | €698 | +€45 | +6.9% |
| Non-recurring operating charges | 66A | - | €2,500 | +€2,500 | |
| Gross operating margin | 9900 | €43,451 | €39,967 | -€3,484 | -8.0% |
| Operating profit (loss) | 9901 | €35,666 | €30,739 | -€4,927 | -13.8% |
| Financial income | 75/76B | - | €1,283 | +€1,283 | |
| Recurring financial income | 75 | - | €1,283 | +€1,283 | |
| Non-recurring financial income | 76B | - | €1,283 | +€1,283 | |
| Financial charges | 65/66B | €818 | €733 | -€85 | -10.4% |
| Recurring financial charges | 65 | €818 | €733 | -€85 | -10.4% |
| Profit (loss) for the period before taxes | 9903 | €34,848 | €31,289 | -€3,559 | -10.2% |
| Income taxes | 67/77 | €16,539 | €11,627 | -€4,912 | -29.7% |
| Profit (loss) for the period | 9904 | €18,309 | €19,662 | +€1,353 | +7.4% |
| Profit (loss) for the period to be appropriated | 9905 | €18,309 | €19,662 | +€1,353 | +7.4% |
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 23 October 2026 via checked.be.