M&M: what changed
Two fiscal 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&M
Largest movements
- Cash +€2,187
up €2,187 (+34.0%), from €6,439 to €8,627
mainly Depreciation (+€3,134) and Trade debts (+€955)
- Tangible fixed assets -€1,517
down €1,517 (-18.3%), from €8,297 to €6,780
of which Plant, machinery and equipment: -€1,797
- Receivables within one year +€1,104
up €1,104 (+430.3%), from €257 to €1,361
of which Trade receivables: +€1,155
- Trade debts +€955
new in 2025: €955
- Profit (loss) carried forward +€450
up €450 (+4.6%), from -€9,803 to -€9,354
- Tax, wage and social debts +€370
new in 2025: €370
- Gross operating margin +€2,426
up €2,426 (+126.3%), from €1,920 to €4,346
- Turnover +€1,761
up €1,761 (+14.7%), from €11,990 to €13,751
- Purchases and services -€665
down €665 (-6.6%), from €10,070 to €9,405
- Depreciation +€456
up €456 (+17.0%), from €2,678 to €3,134
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.
Cash bridge derived
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 | €14,992 | €16,767 | +€1,775 | +11.8% |
| Fixed assets | 21/28 | €8,297 | €6,780 | -€1,517 | -18.3% |
| Tangible fixed assets | 22/27 | €8,297 | €6,780 | -€1,517 | -18.3% |
| Plant, machinery and equipment | 23 | €7,160 | €5,363 | -€1,797 | -25.1% |
| Furniture and vehicles | 24 | €1,137 | €1,417 | +€280 | +24.7% |
| Current assets | 29/58 | €6,696 | €9,987 | +€3,292 | +49.2% |
| Amounts receivable within one year | 40/41 | €257 | €1,361 | +€1,104 | +430.3% |
| Trade receivables | 40 | - | €1,155 | +€1,155 | |
| Other amounts receivable | 41 | €257 | €206 | -€51 | -19.7% |
| Cash at bank and in hand | 54/58 | €6,439 | €8,627 | +€2,187 | +34.0% |
| Total equity and liabilities | 10/49 | €14,992 | €16,767 | +€1,775 | +11.8% |
| Equity | 10/15 | €197 | €646 | +€450 | +228.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,803 | -€9,354 | +€450 | +4.6% |
| Amounts payable | 17/49 | €14,796 | €16,121 | +€1,325 | +9.0% |
| Amounts payable within one year | 42/48 | €14,796 | €16,121 | +€1,325 | +9.0% |
| Trade debts | 44 | - | €955 | +€955 | |
| Suppliers | 440/4 | - | €955 | +€955 | |
| Taxes, remuneration and social security | 45 | - | €370 | +€370 | |
| Taxes | 450/3 | - | €370 | +€370 | |
| Other amounts payable | 47/48 | €14,796 | €14,796 | = | 0.0% |
| Turnover | 70 | €11,990 | €13,751 | +€1,761 | +14.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €10,070 | €9,405 | -€665 | -6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,678 | €3,134 | +€456 | +17.0% |
| Other operating charges | 640/8 | €567 | €580 | +€12 | +2.2% |
| Gross operating margin | 9900 | €1,920 | €4,346 | +€2,426 | +126.3% |
| Operating profit (loss) | 9901 | -€1,325 | €632 | +€1,957 | |
| Financial income | 75/76B | €10 | - | -€10 | |
| Recurring financial income | 75 | €10 | - | -€10 | |
| Financial charges | 65/66B | €199 | €182 | -€17 | -8.8% |
| Recurring financial charges | 65 | €199 | €182 | -€17 | -8.8% |
| Profit (loss) for the period before taxes | 9903 | -€1,515 | €450 | +€1,965 | |
| Profit (loss) for the period | 9904 | -€1,515 | €450 | +€1,965 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,515 | €450 | +€1,965 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.