M & L GROUP: 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 & L GROUP
Largest movements
- Tangible fixed assets -€55,669
down €55,669 (-2.1%), from €2.6m to €2.6m
of which Land and buildings: -€55,494
- Debts after one year -€140,385
down €140,385 (-10.1%), from €1.4m to €1.2m
- Reserves +€101,193
up €101,193 (+4.7%), from €2.2m to €2.3m
of which Distributable reserves: +€101,193
- Gross operating margin -€36,694
down €36,694 (-11.6%), from €315,845 to €279,151
- Other operating charges -€35,330
down €35,330 (-56.7%), from €62,358 to €27,029
- Financial income -€14,735
down €14,735 (-44.4%), from €33,157 to €18,422
- Financial charges -€6,595
down €6,595 (-16.0%), from €41,125 to €34,530
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 | €3,980,311 | €3,945,783 | -€34,528 | -0.9% |
| Fixed assets | 21/28 | €2,625,815 | €2,570,147 | -€55,669 | -2.1% |
| Tangible fixed assets | 22/27 | €2,625,815 | €2,570,147 | -€55,669 | -2.1% |
| Land and buildings | 22 | €2,625,466 | €2,569,972 | -€55,494 | -2.1% |
| Furniture and vehicles | 24 | €350 | €175 | -€175 | -50.0% |
| Current assets | 29/58 | €1,354,496 | €1,375,636 | +€21,140 | +1.6% |
| Amounts receivable within one year | 40/41 | €26,023 | €8,372 | -€17,651 | -67.8% |
| Trade receivables | 40 | €7,260 | €7,260 | = | 0.0% |
| Other amounts receivable | 41 | €18,763 | €1,112 | -€17,651 | -94.1% |
| Cash at bank and in hand | 54/58 | €1,293,851 | €1,304,069 | +€10,219 | +0.8% |
| Deferred charges and accrued income | 490/1 | €34,623 | €63,195 | +€28,573 | +82.5% |
| Total equity and liabilities | 10/49 | €3,980,311 | €3,945,783 | -€34,528 | -0.9% |
| Equity | 10/15 | €2,480,605 | €2,581,798 | +€101,193 | +4.1% |
| Contributions | 10/11 | €322,000 | €322,000 | = | 0.0% |
| Capital | 10 | €322,000 | €322,000 | = | 0.0% |
| Issued capital | 100 | €322,000 | €322,000 | = | 0.0% |
| Reserves | 13 | €2,158,605 | €2,259,798 | +€101,193 | +4.7% |
| Non-distributable reserves | 130/1 | €32,200 | €32,200 | = | 0.0% |
| Legal reserve | 130 | €32,200 | €32,200 | = | 0.0% |
| Distributable reserves | 133 | €2,126,405 | €2,227,598 | +€101,193 | +4.8% |
| Amounts payable | 17/49 | €1,499,707 | €1,363,985 | -€135,722 | -9.0% |
| Amounts payable after more than one year | 17 | €1,383,238 | €1,242,853 | -€140,385 | -10.1% |
| Financial debts | 170/4 | €1,383,238 | €1,242,853 | -€140,385 | -10.1% |
| Amounts payable within one year | 42/48 | €115,394 | €120,056 | +€4,663 | +4.0% |
| Current portion of amounts payable after more than one year | 42 | €82,051 | €82,051 | = | 0.0% |
| Trade debts | 44 | €1,255 | €2,316 | +€1,060 | +84.5% |
| Suppliers | 440/4 | €1,255 | €2,316 | +€1,060 | +84.5% |
| Taxes, remuneration and social security | 45 | €13,165 | €16,500 | +€3,335 | +25.3% |
| Taxes | 450/3 | €13,165 | €16,500 | +€3,335 | +25.3% |
| Other amounts payable | 47/48 | €18,922 | €19,189 | +€267 | +1.4% |
| Accrued charges and deferred income | 492/3 | €1,075 | €1,075 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,897 | €86,358 | +€461 | +0.5% |
| Other operating charges | 640/8 | €62,358 | €27,029 | -€35,330 | -56.7% |
| Gross operating margin | 9900 | €315,845 | €279,151 | -€36,694 | -11.6% |
| Operating profit (loss) | 9901 | €167,590 | €165,765 | -€1,825 | -1.1% |
| Financial income | 75/76B | €33,157 | €18,422 | -€14,735 | -44.4% |
| Recurring financial income | 75 | €33,157 | €18,422 | -€14,735 | -44.4% |
| Financial charges | 65/66B | €41,125 | €34,530 | -€6,595 | -16.0% |
| Recurring financial charges | 65 | €41,125 | €34,530 | -€6,595 | -16.0% |
| Profit (loss) for the period before taxes | 9903 | €159,621 | €149,657 | -€9,964 | -6.2% |
| Income taxes | 67/77 | €51,012 | €48,464 | -€2,549 | -5.0% |
| Profit (loss) for the period | 9904 | €108,609 | €101,193 | -€7,416 | -6.8% |
| Profit (loss) for the period to be appropriated | 9905 | €108,609 | €101,193 | -€7,416 | -6.8% |
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 25 October 2026 via checked.be.