M-FINANCE: 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-FINANCE
Largest movements
- Tangible fixed assets -€725,663
down €725,663 (-65.6%), from €1.1m to €380,563
of which Land and buildings: -€695,300
- Cash +€217,449
up €217,449 (+207%), from €105,108 to €322,558
mainly Investment in fixed assets (net) (+€725,663) and Receivables within one year (+€133,839)
- Receivables within one year -€133,839
down €133,839 (-19.1%), from €701,516 to €567,678
- Other debts -€659,000
down €659,000 (-66.0%), from €998,602 to €339,602
- Tax, wage and social debts -€30,460
down €30,460 (-80.6%), from €37,800 to €7,340
- Gross operating margin +€68,933
up €68,933, from -€23,448 to €45,485
- Financial income -€65,842
down €65,842 (-50.5%), from €130,491 to €64,649
- Taxes -€16,538
down €16,538 (-66.9%), from €24,726 to €8,188
- Other operating charges +€6,638
up €6,638 (+87.3%), from €7,603 to €14,242
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 | €2,442,615 | €1,799,815 | -€642,800 | -26.3% |
| Fixed assets | 21/28 | €1,106,226 | €380,563 | -€725,663 | -65.6% |
| Tangible fixed assets | 22/27 | €1,106,226 | €380,563 | -€725,663 | -65.6% |
| Land and buildings | 22 | €1,075,862 | €380,563 | -€695,300 | -64.6% |
| Plant, machinery and equipment | 23 | €11,744 | - | -€11,744 | |
| Furniture and vehicles | 24 | €18,619 | - | -€18,619 | |
| Current assets | 29/58 | €1,336,389 | €1,419,252 | +€82,863 | +6.2% |
| Amounts receivable after more than one year | 29 | €527,364 | €527,364 | = | 0.0% |
| Other amounts receivable | 291 | €527,364 | €527,364 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €701,516 | €567,678 | -€133,839 | -19.1% |
| Other amounts receivable | 41 | €701,516 | €567,678 | -€133,839 | -19.1% |
| Cash at bank and in hand | 54/58 | €105,108 | €322,558 | +€217,449 | +207% |
| Deferred charges and accrued income | 490/1 | €2,400 | €1,652 | -€748 | -31.2% |
| Total equity and liabilities | 10/49 | €2,442,615 | €1,799,815 | -€642,800 | -26.3% |
| Equity | 10/15 | €1,404,084 | €1,426,792 | +€22,708 | +1.6% |
| Contributions | 10/11 | €1,329,906 | €1,329,906 | = | 0.0% |
| Reserves | 13 | €74,178 | €96,886 | +€22,708 | +30.6% |
| Distributable reserves | 133 | €74,178 | €96,886 | +€22,708 | +30.6% |
| Amounts payable | 17/49 | €1,038,531 | €373,023 | -€665,508 | -64.1% |
| Amounts payable within one year | 42/48 | €1,038,324 | €372,772 | -€665,552 | -64.1% |
| Trade debts | 44 | €1,922 | €25,830 | +€23,908 | +1,244% |
| Suppliers | 440/4 | €1,922 | €25,830 | +€23,908 | +1,244% |
| Taxes, remuneration and social security | 45 | €37,800 | €7,340 | -€30,460 | -80.6% |
| Taxes | 450/3 | €37,800 | €7,340 | -€30,460 | -80.6% |
| Other amounts payable | 47/48 | €998,602 | €339,602 | -€659,000 | -66.0% |
| Accrued charges and deferred income | 492/3 | €208 | €251 | +€43 | +20.8% |
| Non-recurring operating income | 76A | - | €65,887 | +€65,887 | |
| Other operating charges | 640/8 | €7,603 | €14,242 | +€6,638 | +87.3% |
| Non-recurring operating charges | 66A | - | €64,551 | +€64,551 | |
| Gross operating margin | 9900 | -€23,448 | €45,485 | +€68,933 | |
| Operating profit (loss) | 9901 | -€31,051 | -€33,307 | -€2,256 | -7.3% |
| Financial income | 75/76B | €130,491 | €64,649 | -€65,842 | -50.5% |
| Recurring financial income | 75 | €130,491 | €64,649 | -€65,842 | -50.5% |
| Financial charges | 65/66B | €536 | €446 | -€90 | -16.8% |
| Recurring financial charges | 65 | €536 | €446 | -€90 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | €98,904 | €30,897 | -€68,007 | -68.8% |
| Income taxes | 67/77 | €24,726 | €8,188 | -€16,538 | -66.9% |
| Profit (loss) for the period | 9904 | €74,178 | €22,708 | -€51,469 | -69.4% |
| Profit (loss) for the period to be appropriated | 9905 | €74,178 | €22,708 | -€51,469 | -69.4% |
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 26 October 2026 via checked.be.