M&M Expert Consultancy: 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 Consultancy
Largest movements
- Tangible fixed assets +€77,211
up €77,211 (+114%), from €67,910 to €145,121
of which Furniture and vehicles: +€77,203
- Cash -€44,650
down €44,650 (-75.5%), from €59,125 to €14,476
mainly Investment in fixed assets (net) (-€89,715) and Current investments (-€25,000)
- Receivables within one year -€25,566
down €25,566 (-48.7%), from €52,444 to €26,878
of which Trade receivables: -€18,449
- Current investments +€25,000
up €25,000 (+9.1%), from €275,000 to €300,000
- Stocks and contracts -€7,116
down €7,116 (-17.2%), from €41,472 to €34,356
- Reserves +€37,380
up €37,380 (+9.1%), from €413,028 to €450,409
- Profit (loss) carried forward -€15,917
down €15,917 (-42.6%), from €37,380 to €21,463
- Trade debts -€14,868
down €14,868 (-73.3%), from €20,281 to €5,413
- Other debts +€14,652
up €14,652 (+165%), from €8,896 to €23,548
- Tax, wage and social debts +€6,425
new in 2025: €6,425
- Gross operating margin -€11,375
down €11,375 (-21.5%), from €53,023 to €41,648
- Depreciation +€8,071
up €8,071 (+182%), from €4,433 to €12,504
- Taxes -€5,037
down €5,037 (-36.7%), from €13,737 to €8,700
- Other operating charges +€990
up €990 (+18.3%), from €5,423 to €6,414
- Financial income -€545
down €545 (-6.3%), from €8,679 to €8,134
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.
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 | €501,586 | €529,257 | +€27,672 | +5.5% |
| Fixed assets | 21/28 | €70,205 | €147,416 | +€77,211 | +110% |
| Tangible fixed assets | 22/27 | €67,910 | €145,121 | +€77,211 | +114% |
| Plant, machinery and equipment | 23 | €58,407 | €59,517 | +€1,110 | +1.9% |
| Furniture and vehicles | 24 | €4,926 | €82,129 | +€77,203 | +1,567% |
| Other tangible fixed assets | 26 | €4,578 | €3,476 | -€1,102 | -24.1% |
| Financial fixed assets | 28 | €2,295 | €2,295 | = | 0.0% |
| Current assets | 29/58 | €431,381 | €381,842 | -€49,539 | -11.5% |
| Stocks and contracts in progress | 3 | €41,472 | €34,356 | -€7,116 | -17.2% |
| Stocks | 30/36 | €41,472 | €34,356 | -€7,116 | -17.2% |
| Amounts receivable within one year | 40/41 | €52,444 | €26,878 | -€25,566 | -48.7% |
| Trade receivables | 40 | €24,636 | €6,187 | -€18,449 | -74.9% |
| Other amounts receivable | 41 | €27,808 | €20,691 | -€7,118 | -25.6% |
| Current investments | 50/53 | €275,000 | €300,000 | +€25,000 | +9.1% |
| Cash at bank and in hand | 54/58 | €59,125 | €14,476 | -€44,650 | -75.5% |
| Deferred charges and accrued income | 490/1 | €3,340 | €6,132 | +€2,792 | +83.6% |
| Total equity and liabilities | 10/49 | €501,586 | €529,257 | +€27,672 | +5.5% |
| Equity | 10/15 | €472,409 | €493,871 | +€21,463 | +4.5% |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Reserves | 13 | €413,028 | €450,409 | +€37,380 | +9.1% |
| Distributable reserves | 133 | €413,028 | €450,409 | +€37,380 | +9.1% |
| Profit (loss) carried forward | 14 | €37,380 | €21,463 | -€15,917 | -42.6% |
| Amounts payable | 17/49 | €29,177 | €35,386 | +€6,209 | +21.3% |
| Amounts payable within one year | 42/48 | €29,177 | €35,386 | +€6,209 | +21.3% |
| Trade debts | 44 | €20,281 | €5,413 | -€14,868 | -73.3% |
| Suppliers | 440/4 | €20,281 | €5,413 | -€14,868 | -73.3% |
| Taxes, remuneration and social security | 45 | - | €6,425 | +€6,425 | |
| Taxes | 450/3 | - | €6,425 | +€6,425 | |
| Other amounts payable | 47/48 | €8,896 | €23,548 | +€14,652 | +165% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,433 | €12,504 | +€8,071 | +182% |
| Other operating charges | 640/8 | €5,423 | €6,414 | +€990 | +18.3% |
| Gross operating margin | 9900 | €53,023 | €41,648 | -€11,375 | -21.5% |
| Operating profit (loss) | 9901 | €43,167 | €22,730 | -€20,437 | -47.3% |
| Financial income | 75/76B | €8,679 | €8,134 | -€545 | -6.3% |
| Recurring financial income | 75 | €8,679 | €8,134 | -€545 | -6.3% |
| Financial charges | 65/66B | €729 | €702 | -€27 | -3.7% |
| Recurring financial charges | 65 | €729 | €702 | -€27 | -3.7% |
| Profit (loss) for the period before taxes | 9903 | €51,117 | €30,163 | -€20,955 | -41.0% |
| Income taxes | 67/77 | €13,737 | €8,700 | -€5,037 | -36.7% |
| Profit (loss) for the period | 9904 | €37,380 | €21,463 | -€15,917 | -42.6% |
| Profit (loss) for the period to be appropriated | 9905 | €37,380 | €21,463 | -€15,917 | -42.6% |
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 26 October 2026 via checked.be.