M&I CONSULT: 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&I CONSULT
Largest movements
- Receivables within one year +€29,476
up €29,476 (+43.7%), from €67,522 to €96,998
of which Other amounts receivable: +€31,316
- Cash +€18,578
up €18,578 (+76.1%), from €24,425 to €43,003
mainly Net result for the year (+€49,484) and Depreciation (+€14,452)
- Intangible fixed assets -€7,500
down €7,500 (-11.9%), from €63,125 to €55,625
- Tangible fixed assets +€6,873
up €6,873 (+67.8%), from €10,136 to €17,008
of which Land and buildings: +€8,321
- Reserves +€36,349
new in 2025: €36,349
- Debts after one year -€18,242
down €18,242 (-17.0%), from €107,534 to €89,291
- Profit (loss) carried forward +€13,134
no longer reported in 2025 (was -€13,134)
- Tax, wage and social debts +€11,136
up €11,136 (+38.6%), from €28,848 to €39,984
of which Taxes: +€14,660
- Trade debts +€8,718
up €8,718 (+134%), from €6,497 to €15,215
- Gross operating margin +€65,316
up €65,316 (+51.0%), from €127,960 to €193,276
- Taxes +€10,601
up €10,601 (+263%), from €4,032 to €14,634
- Staff costs +€6,186
up €6,186 (+6.0%), from €102,845 to €109,031
- Financial charges +€2,872
up €2,872 (+40.2%), from €7,138 to €10,010
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 | €167,618 | €215,907 | +€48,289 | +28.8% |
| Fixed assets | 21/28 | €73,261 | €72,633 | -€627 | -0.9% |
| Intangible fixed assets | 21 | €63,125 | €55,625 | -€7,500 | -11.9% |
| Tangible fixed assets | 22/27 | €10,136 | €17,008 | +€6,873 | +67.8% |
| Land and buildings | 22 | - | €8,321 | +€8,321 | |
| Plant, machinery and equipment | 23 | €1,418 | €4,340 | +€2,922 | +206% |
| Furniture and vehicles | 24 | €8,718 | €4,348 | -€4,370 | -50.1% |
| Current assets | 29/58 | €94,357 | €143,273 | +€48,916 | +51.8% |
| Stocks and contracts in progress | 3 | €2,410 | €1,882 | -€528 | -21.9% |
| Stocks | 30/36 | €2,410 | €1,882 | -€528 | -21.9% |
| Amounts receivable within one year | 40/41 | €67,522 | €96,998 | +€29,476 | +43.7% |
| Trade receivables | 40 | €1,840 | - | -€1,840 | |
| Other amounts receivable | 41 | €65,682 | €96,998 | +€31,316 | +47.7% |
| Cash at bank and in hand | 54/58 | €24,425 | €43,003 | +€18,578 | +76.1% |
| Deferred charges and accrued income | 490/1 | - | €1,390 | +€1,390 | |
| Total equity and liabilities | 10/49 | €167,618 | €215,907 | +€48,289 | +28.8% |
| Equity | 10/15 | -€13,134 | €36,349 | +€49,484 | |
| Reserves | 13 | - | €36,349 | +€36,349 | |
| Distributable reserves | 133 | - | €36,349 | +€36,349 | |
| Profit (loss) carried forward | 14 | -€13,134 | - | +€13,134 | |
| Amounts payable | 17/49 | €180,752 | €179,557 | -€1,195 | -0.7% |
| Amounts payable after more than one year | 17 | €107,534 | €89,291 | -€18,242 | -17.0% |
| Financial debts | 170/4 | €107,534 | €89,291 | -€18,242 | -17.0% |
| Amounts payable within one year | 42/48 | €73,219 | €90,266 | +€17,048 | +23.3% |
| Current portion of amounts payable after more than one year | 42 | €19,220 | €18,242 | -€978 | -5.1% |
| Trade debts | 44 | €6,497 | €15,215 | +€8,718 | +134% |
| Suppliers | 440/4 | €6,497 | €15,215 | +€8,718 | +134% |
| Advances received on contracts in progress | 46 | €18,653 | €16,825 | -€1,828 | -9.8% |
| Taxes, remuneration and social security | 45 | €28,848 | €39,984 | +€11,136 | +38.6% |
| Taxes | 450/3 | €15,860 | €30,521 | +€14,660 | +92.4% |
| Remuneration and social security | 454/9 | €12,988 | €9,463 | -€3,525 | -27.1% |
| Remuneration, social security and pensions | 62 | €102,845 | €109,031 | +€6,186 | +6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,674 | €14,452 | +€778 | +5.7% |
| Other operating charges | 640/8 | €2,422 | €1,257 | -€1,164 | -48.1% |
| Gross operating margin | 9900 | €127,960 | €193,276 | +€65,316 | +51.0% |
| Operating profit (loss) | 9901 | €9,020 | €68,536 | +€59,516 | +660% |
| Financial income | 75/76B | €3,822 | €5,591 | +€1,769 | +46.3% |
| Recurring financial income | 75 | €3,822 | €5,591 | +€1,769 | +46.3% |
| Financial charges | 65/66B | €7,138 | €10,010 | +€2,872 | +40.2% |
| Recurring financial charges | 65 | €7,138 | €10,010 | +€2,872 | +40.2% |
| Profit (loss) for the period before taxes | 9903 | €5,704 | €64,117 | +€58,413 | +1,024% |
| Income taxes | 67/77 | €4,032 | €14,634 | +€10,601 | +263% |
| Profit (loss) for the period | 9904 | €1,672 | €49,484 | +€47,812 | +2,859% |
| Profit (loss) for the period to be appropriated | 9905 | €1,672 | €49,484 | +€47,812 | +2,859% |
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 15 October 2026 via checked.be.