M.M. EXPERT: 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. EXPERT
Largest movements
- Receivables within one year -€70,333
down €70,333 (-77.2%), from €91,154 to €20,821
- Tangible fixed assets +€51,135
up €51,135 (+241%), from €21,232 to €72,367
of which Furniture and vehicles: +€51,913
- Cash -€17,053
down €17,053 (-88.1%), from €19,361 to €2,307
mainly Investment in fixed assets (net) (-€69,646) and Trade debts (-€35,478)
- Deferred charges and accrued income +€16,160
up €16,160 (+226%), from €7,148 to €23,308
- Stocks and contracts +€3,598
new in 2025: €3,598
- Trade debts -€35,478
down €35,478 (-98.7%), from €35,949 to €471
- Debts after one year +€17,177
up €17,177 (+321%), from €5,352 to €22,529
- Profit (loss) carried forward -€8,464
down €8,464 (-12.3%), from €68,777 to €60,313
- Current portion of long-term debt +€7,938
up €7,938 (+137%), from €5,811 to €13,749
- Tax, wage and social debts +€3,289
up €3,289 (+24.5%), from €13,436 to €16,725
of which Remuneration and social security: +€2,500
- Gross operating margin -€55,529
down €55,529 (-81.6%), from €68,084 to €12,555
- Taxes -€13,209
down €13,209 (-98.3%), from €13,436 to €228
- Depreciation +€9,258
up €9,258 (+103%), from €9,012 to €18,270
- Financial charges +€792
up €792 (+653%), from €121 to €913
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 | €138,960 | €122,707 | -€16,253 | -11.7% |
| Fixed assets | 21/28 | €21,297 | €72,674 | +€51,376 | +241% |
| Tangible fixed assets | 22/27 | €21,232 | €72,367 | +€51,135 | +241% |
| Plant, machinery and equipment | 23 | €1,492 | €714 | -€778 | -52.1% |
| Furniture and vehicles | 24 | €19,740 | €71,653 | +€51,913 | +263% |
| Financial fixed assets | 28 | €66 | €307 | +€241 | +368% |
| Current assets | 29/58 | €117,662 | €50,033 | -€67,629 | -57.5% |
| Stocks and contracts in progress | 3 | - | €3,598 | +€3,598 | |
| Stocks | 30/36 | - | €3,598 | +€3,598 | |
| Amounts receivable within one year | 40/41 | €91,154 | €20,821 | -€70,333 | -77.2% |
| Trade receivables | 40 | €91,154 | €20,821 | -€70,333 | -77.2% |
| Cash at bank and in hand | 54/58 | €19,361 | €2,307 | -€17,053 | -88.1% |
| Deferred charges and accrued income | 490/1 | €7,148 | €23,308 | +€16,160 | +226% |
| Total equity and liabilities | 10/49 | €138,960 | €122,707 | -€16,253 | -11.7% |
| Equity | 10/15 | €71,777 | €63,313 | -€8,464 | -11.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €68,777 | €60,313 | -€8,464 | -12.3% |
| Amounts payable | 17/49 | €67,183 | €59,394 | -€7,788 | -11.6% |
| Amounts payable after more than one year | 17 | €5,352 | €22,529 | +€17,177 | +321% |
| Financial debts | 170/4 | €5,352 | €22,529 | +€17,177 | +321% |
| Amounts payable within one year | 42/48 | €61,831 | €36,865 | -€24,966 | -40.4% |
| Current portion of amounts payable after more than one year | 42 | €5,811 | €13,749 | +€7,938 | +137% |
| Trade debts | 44 | €35,949 | €471 | -€35,478 | -98.7% |
| Suppliers | 440/4 | €35,949 | €471 | -€35,478 | -98.7% |
| Taxes, remuneration and social security | 45 | €13,436 | €16,725 | +€3,289 | +24.5% |
| Taxes | 450/3 | €13,436 | €14,225 | +€789 | +5.9% |
| Remuneration and social security | 454/9 | - | €2,500 | +€2,500 | |
| Other amounts payable | 47/48 | €6,634 | €5,919 | -€714 | -10.8% |
| Remuneration, social security and pensions | 62 | €1,167 | €1,601 | +€434 | +37.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,012 | €18,270 | +€9,258 | +103% |
| Other operating charges | 640/8 | €1,448 | €1,844 | +€396 | +27.3% |
| Gross operating margin | 9900 | €68,084 | €12,555 | -€55,529 | -81.6% |
| Operating profit (loss) | 9901 | €56,457 | -€9,159 | -€65,616 | |
| Financial income | 75/76B | €1,465 | €1,835 | +€370 | +25.3% |
| Recurring financial income | 75 | €1,465 | €1,835 | +€370 | +25.3% |
| Financial charges | 65/66B | €121 | €913 | +€792 | +653% |
| Recurring financial charges | 65 | €121 | €913 | +€792 | +653% |
| Profit (loss) for the period before taxes | 9903 | €57,801 | -€8,237 | -€66,038 | |
| Income taxes | 67/77 | €13,436 | €228 | -€13,209 | -98.3% |
| Profit (loss) for the period | 9904 | €44,365 | -€8,464 | -€52,829 | |
| Profit (loss) for the period to be appropriated | 9905 | €44,365 | -€8,464 | -€52,829 |
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 24 October 2026 via checked.be.