M&M: 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&M
Largest movements
- Cash +€90,539
up €90,539 (+14350.8%), from €631 to €91,170
mainly Net result for the year (+€56,014) and Deferred charges and accrued income (+€32,469)
- Deferred charges and accrued income -€32,469
down €32,469 (-100.0%), from €32,469 to €0
- Tangible fixed assets +€5,223
new in 2025: €5,223
- Receivables within one year -€1,129
down €1,129 (-9.8%), from €11,553 to €10,423
of which Trade receivables: -€3,708
- Reserves +€56,014
up €56,014 (+179.3%), from €31,239 to €87,253
- Tax, wage and social debts +€9,011
up €9,011 (+95.7%), from €9,411 to €18,422
- Other debts -€1,668
down €1,668 (-100.0%), from €1,668 to €0
- Trade debts -€1,194
down €1,194 (-89.5%), from €1,334 to €141
- Gross operating margin +€31,550
up €31,550 (+80.8%), from €39,062 to €70,612
- Taxes +€6,441
up €6,441 (+82.3%), from €7,823 to €14,264
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 | €44,652 | €106,816 | +€62,163 | +139.2% |
| Fixed assets | 21/28 | - | €5,223 | +€5,223 | |
| Tangible fixed assets | 22/27 | - | €5,223 | +€5,223 | |
| Other tangible fixed assets | 26 | - | €5,223 | +€5,223 | |
| Current assets | 29/58 | €44,652 | €101,593 | +€56,941 | +127.5% |
| Amounts receivable within one year | 40/41 | €11,553 | €10,423 | -€1,129 | -9.8% |
| Trade receivables | 40 | €11,553 | €7,844 | -€3,708 | -32.1% |
| Other amounts receivable | 41 | - | €2,579 | +€2,579 | |
| Cash at bank and in hand | 54/58 | €631 | €91,170 | +€90,539 | +14350.8% |
| Deferred charges and accrued income | 490/1 | €32,469 | €0 | -€32,469 | -100.0% |
| Total equity and liabilities | 10/49 | €44,652 | €106,816 | +€62,163 | +139.2% |
| Equity | 10/15 | €32,239 | €88,253 | +€56,014 | +173.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €31,239 | €87,253 | +€56,014 | +179.3% |
| Distributable reserves | 133 | €31,239 | €87,253 | +€56,014 | +179.3% |
| Amounts payable | 17/49 | €12,413 | €18,563 | +€6,150 | +49.5% |
| Amounts payable within one year | 42/48 | €12,413 | €18,563 | +€6,150 | +49.5% |
| Trade debts | 44 | €1,334 | €141 | -€1,194 | -89.5% |
| Suppliers | 440/4 | €1,334 | €141 | -€1,194 | -89.5% |
| Taxes, remuneration and social security | 45 | €9,411 | €18,422 | +€9,011 | +95.7% |
| Taxes | 450/3 | €9,411 | €18,422 | +€9,011 | +95.7% |
| Other amounts payable | 47/48 | €1,668 | €0 | -€1,668 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €43 | +€43 | |
| Other operating charges | 640/8 | - | €341 | +€341 | |
| Gross operating margin | 9900 | €39,062 | €70,612 | +€31,550 | +80.8% |
| Operating profit (loss) | 9901 | €39,062 | €70,228 | +€31,166 | +79.8% |
| Financial income | 75/76B | - | €105 | +€105 | |
| Recurring financial income | 75 | - | €105 | +€105 | |
| Financial charges | 65/66B | - | €55 | +€55 | |
| Recurring financial charges | 65 | - | €55 | +€55 | |
| Profit (loss) for the period before taxes | 9903 | €39,062 | €70,278 | +€31,216 | +79.9% |
| Income taxes | 67/77 | €7,823 | €14,264 | +€6,441 | +82.3% |
| Profit (loss) for the period | 9904 | €31,239 | €56,014 | +€24,775 | +79.3% |
| Profit (loss) for the period to be appropriated | 9905 | €31,239 | €56,014 | +€24,775 | +79.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.