M-FLOW: 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-FLOW
Largest movements
- Receivables within one year +€1,697
up €1,697 (+9.8%), from €17,317 to €19,014
of which Trade receivables: +€1,900
- Tangible fixed assets +€1,407
up €1,407 (+51.2%), from €2,748 to €4,155
of which Plant, machinery and equipment: +€3,508
- Cash +€1,165
up €1,165 (+1.5%), from €77,305 to €78,470
mainly Net result for the year (+€14,783) and Depreciation (+€2,362)
- Reserves +€14,783
up €14,783 (+24.6%), from €60,151 to €74,934
- Tax, wage and social debts -€6,730
down €6,730 (-26.3%), from €25,562 to €18,832
of which Taxes: -€6,730
- Trade debts -€2,961
down €2,961 (-100%), from €2,961 to €0
- Gross operating margin -€58,960
down €58,960 (-70.2%), from €83,997 to €25,037
- Taxes -€10,795
down €10,795 (-65.4%), from €16,500 to €5,705
- Financial charges -€1,275
down €1,275 (-40.1%), from €3,182 to €1,907
- Depreciation -€1,193
down €1,193 (-33.6%), from €3,555 to €2,362
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 | €98,885 | €103,766 | +€4,881 | +4.9% |
| Fixed assets | 21/28 | €2,998 | €4,405 | +€1,407 | +46.9% |
| Tangible fixed assets | 22/27 | €2,748 | €4,155 | +€1,407 | +51.2% |
| Plant, machinery and equipment | 23 | - | €3,508 | +€3,508 | |
| Furniture and vehicles | 24 | €2,748 | €647 | -€2,101 | -76.5% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €95,887 | €99,361 | +€3,474 | +3.6% |
| Amounts receivable within one year | 40/41 | €17,317 | €19,014 | +€1,697 | +9.8% |
| Trade receivables | 40 | €16,735 | €18,634 | +€1,900 | +11.4% |
| Other amounts receivable | 41 | €582 | €380 | -€203 | -34.8% |
| Cash at bank and in hand | 54/58 | €77,305 | €78,470 | +€1,165 | +1.5% |
| Deferred charges and accrued income | 490/1 | €1,265 | €1,877 | +€612 | +48.3% |
| Total equity and liabilities | 10/49 | €98,885 | €103,766 | +€4,881 | +4.9% |
| Equity | 10/15 | €70,151 | €84,934 | +€14,783 | +21.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €60,151 | €74,934 | +€14,783 | +24.6% |
| Distributable reserves | 133 | €60,151 | €74,934 | +€14,783 | +24.6% |
| Amounts payable | 17/49 | €28,734 | €18,832 | -€9,902 | -34.5% |
| Amounts payable within one year | 42/48 | €28,523 | €18,832 | -€9,691 | -34.0% |
| Trade debts | 44 | €2,961 | €0 | -€2,961 | -100% |
| Suppliers | 440/4 | €2,961 | €0 | -€2,961 | -100% |
| Taxes, remuneration and social security | 45 | €25,562 | €18,832 | -€6,730 | -26.3% |
| Taxes | 450/3 | €22,812 | €16,082 | -€6,730 | -29.5% |
| Remuneration and social security | 454/9 | €2,750 | €2,750 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €211 | €0 | -€211 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,555 | €2,362 | -€1,193 | -33.6% |
| Other operating charges | 640/8 | €629 | €584 | -€45 | -7.1% |
| Gross operating margin | 9900 | €83,997 | €25,037 | -€58,960 | -70.2% |
| Operating profit (loss) | 9901 | €79,813 | €22,091 | -€57,722 | -72.3% |
| Financial income | 75/76B | €20 | €304 | +€284 | +1,396% |
| Recurring financial income | 75 | €20 | €304 | +€284 | +1,396% |
| Financial charges | 65/66B | €3,182 | €1,907 | -€1,275 | -40.1% |
| Recurring financial charges | 65 | €3,182 | €1,907 | -€1,275 | -40.1% |
| Profit (loss) for the period before taxes | 9903 | €76,651 | €20,488 | -€56,164 | -73.3% |
| Income taxes | 67/77 | €16,500 | €5,705 | -€10,795 | -65.4% |
| Profit (loss) for the period | 9904 | €60,151 | €14,783 | -€45,368 | -75.4% |
| Profit (loss) for the period to be appropriated | 9905 | €60,151 | €14,783 | -€45,368 | -75.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.