M & M BEHEER: 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.
What changed
M & M BEHEER
NACE 82.990, Other business support services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€336,966
2024 · €486,222-€149,257
Equity
€2.1m
2024 · €2.2m-€39,498
Cash
€12,785
2024 · €33,582-€20,797
Balance sheet total
€2.6m
2024 · €2.4m+€168,311
Largest movements
Assets
- Current investments -€979,915
down €979,915 (-98.5%), from €994,989 to €15,074
- Tangible fixed assets +€632,888
up €632,888 (+61.2%), from €1.0m to €1.7m
of which Land and buildings: +€663,781
- Receivables after one year +€480,000
up €480,000 (+400%), from €120,000 to €600,000
- Receivables within one year +€60,288
up €60,288 (+40.5%), from €148,862 to €209,150
of which Other amounts receivable: +€45,288
Equity and liabilities
- Other debts +€242,143
up €242,143 (+165%), from €147,183 to €389,325
- Reserves -€39,498
down €39,498 (-1.9%), from €2.1m to €2.1m
of which Distributable reserves: -€36,024
Income statement
- Gross operating margin -€223,419
down €223,419 (-25.9%), from €863,042 to €639,624
- Taxes -€79,075
down €79,075 (-34.9%), from €226,499 to €147,423
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.
Result 2024
€486,222
Gross operating margin
-€223,419
Depreciation
+€1,843
Other operating charges
+€67
Financial income
-€6,982
Financial charges
+€159
Taxes
+€79,075
Result 2025
€336,966
raises the resultlowers the result
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.
From operations
+€169,248
Investment
+€196,604
Financing
-€386,649
Cash 2024
€33,582
From operations (derived)
+€169,248
Net result for the year
+€336,966
Depreciation
+€150,423
Receivables after one year
-€480,000
Receivables within one year
-€60,288
Deferred charges and accrued income
+€4,153
Smaller working-capital items
+€711
Trade debts
-€8,216
Tax, wage and social debts
-€16,643
Other debts
+€242,143
Investment (derived)
+€196,604
Investment in fixed assets (net)
-€783,311
Current investments
+€979,915
Financing
-€386,649
Current portion of long-term debt
-€10,185
Contributions, distributions and other
-€376,464
Cash 2025
€12,785
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,408,325 | €2,576,636 | +€168,311 | +7.0% |
| Fixed assets | 21/28 | €1,106,739 | €1,739,627 | +€632,888 | +57.2% |
| Tangible fixed assets | 22/27 | €1,034,069 | €1,666,957 | +€632,888 | +61.2% |
| Land and buildings | 22 | €939,074 | €1,602,855 | +€663,781 | +70.7% |
| Plant, machinery and equipment | 23 | €533 | €239 | -€294 | -55.1% |
| Furniture and vehicles | 24 | €69,262 | €44,962 | -€24,299 | -35.1% |
| Leasing and similar rights | 25 | €25,200 | €18,900 | -€6,300 | -25.0% |
| Financial fixed assets | 28 | €72,670 | €72,670 | = | 0.0% |
| Current assets | 29/58 | €1,301,586 | €837,010 | -€464,577 | -35.7% |
| Amounts receivable after more than one year | 29 | €120,000 | €600,000 | +€480,000 | +400% |
| Other amounts receivable | 291 | €120,000 | €600,000 | +€480,000 | +400% |
| Amounts receivable within one year | 40/41 | €148,862 | €209,150 | +€60,288 | +40.5% |
| Trade receivables | 40 | €122,511 | €137,511 | +€15,000 | +12.2% |
| Other amounts receivable | 41 | €26,351 | €71,639 | +€45,288 | +172% |
| Current investments | 50/53 | €994,989 | €15,074 | -€979,915 | -98.5% |
| Cash at bank and in hand | 54/58 | €33,582 | €12,785 | -€20,797 | -61.9% |
| Deferred charges and accrued income | 490/1 | €4,153 | - | -€4,153 | |
| Total equity and liabilities | 10/49 | €2,408,325 | €2,576,636 | +€168,311 | +7.0% |
| Equity | 10/15 | €2,172,539 | €2,133,042 | -€39,498 | -1.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €2,110,539 | €2,071,042 | -€39,498 | -1.9% |
| Tax-exempt reserves | 132 | €97,254 | €93,781 | -€3,473 | -3.6% |
| Distributable reserves | 133 | €2,013,285 | €1,977,261 | -€36,024 | -1.8% |
| Provisions and deferred taxes | 16 | €32,418 | €31,260 | -€1,158 | -3.6% |
| Deferred taxes | 168 | €32,418 | €31,260 | -€1,158 | -3.6% |
| Amounts payable | 17/49 | €203,367 | €412,334 | +€208,967 | +103% |
| Amounts payable within one year | 42/48 | €198,064 | €405,162 | +€207,098 | +105% |
| Current portion of amounts payable after more than one year | 42 | €10,185 | - | -€10,185 | |
| Trade debts | 44 | €16,303 | €8,087 | -€8,216 | -50.4% |
| Suppliers | 440/4 | €16,303 | €8,087 | -€8,216 | -50.4% |
| Taxes, remuneration and social security | 45 | €24,393 | €7,750 | -€16,643 | -68.2% |
| Taxes | 450/3 | €24,393 | €32 | -€24,361 | -99.9% |
| Remuneration and social security | 454/9 | - | €7,718 | +€7,718 | |
| Other amounts payable | 47/48 | €147,183 | €389,325 | +€242,143 | +165% |
| Accrued charges and deferred income | 492/3 | €5,303 | €7,172 | +€1,869 | +35.2% |
| Non-recurring operating income | 76A | €18,000 | - | -€18,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €152,267 | €150,423 | -€1,843 | -1.2% |
| Other operating charges | 640/8 | €9,702 | €9,636 | -€67 | -0.7% |
| Gross operating margin | 9900 | €863,042 | €639,624 | -€223,419 | -25.9% |
| Operating profit (loss) | 9901 | €701,073 | €479,565 | -€221,508 | -31.6% |
| Financial income | 75/76B | €10,835 | €3,853 | -€6,982 | -64.4% |
| Recurring financial income | 75 | €7,364 | €3,853 | -€3,511 | -47.7% |
| Non-recurring financial income | 76B | €3,471 | - | -€3,471 | |
| Financial charges | 65/66B | €345 | €186 | -€159 | -46.0% |
| Recurring financial charges | 65 | €345 | €186 | -€159 | -46.0% |
| Profit (loss) for the period before taxes | 9903 | €711,563 | €483,231 | -€228,332 | -32.1% |
| Transfer from deferred taxes | 780 | €1,158 | €1,158 | = | 0.0% |
| Income taxes | 67/77 | €226,499 | €147,423 | -€79,075 | -34.9% |
| Profit (loss) for the period | 9904 | €486,222 | €336,966 | -€149,257 | -30.7% |
| Transfer from tax-exempt reserves | 789 | €3,473 | €3,473 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €489,696 | €340,439 | -€149,257 | -30.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.