M.M.G. 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.
M.M.G. BEHEER
Largest movements
- Receivables within one year -€68,304
down €68,304 (-8.3%), from €825,144 to €756,840
- Financial fixed assets +€47,645
up €47,645 (+1.8%), from €2.6m to €2.6m
- Debts after one year -€140,414
down €140,414 (-11.5%), from €1.2m to €1.1m
- Other debts +€130,850
up €130,850 (+9.5%), from €1.4m to €1.5m
- Financial income +€31,814
new in 2025: €31,814
- Financial charges +€21,579
up €21,579 (+98.1%), from €21,990 to €43,569
- Gross operating margin +€821
up €821 (+31.1%), from -€2,637 to -€1,817
- Other operating charges -€580
down €580 (-32.4%), from €1,790 to €1,210
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 | €3,422,804 | €3,400,721 | -€22,082 | -0.6% |
| Fixed assets | 21/28 | €2,588,661 | €2,636,307 | +€47,645 | +1.8% |
| Financial fixed assets | 28 | €2,588,661 | €2,636,307 | +€47,645 | +1.8% |
| Current assets | 29/58 | €834,142 | €764,415 | -€69,728 | -8.4% |
| Amounts receivable within one year | 40/41 | €825,144 | €756,840 | -€68,304 | -8.3% |
| Other amounts receivable | 41 | €825,144 | €756,840 | -€68,304 | -8.3% |
| Cash at bank and in hand | 54/58 | €8,999 | €7,575 | -€1,423 | -15.8% |
| Total equity and liabilities | 10/49 | €3,422,804 | €3,400,721 | -€22,082 | -0.6% |
| Equity | 10/15 | €685,041 | €670,259 | -€14,782 | -2.2% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €1,890 | €1,890 | = | 0.0% |
| Distributable reserves | 133 | €1,890 | €1,890 | = | 0.0% |
| Profit (loss) carried forward | 14 | €676,851 | €662,069 | -€14,782 | -2.2% |
| Amounts payable | 17/49 | €2,737,763 | €2,730,463 | -€7,300 | -0.3% |
| Amounts payable after more than one year | 17 | €1,223,911 | €1,083,497 | -€140,414 | -11.5% |
| Financial debts | 170/4 | €1,223,911 | €1,083,497 | -€140,414 | -11.5% |
| Amounts payable within one year | 42/48 | €1,513,853 | €1,646,966 | +€133,114 | +8.8% |
| Current portion of amounts payable after more than one year | 42 | €138,150 | €140,414 | +€2,264 | +1.6% |
| Other amounts payable | 47/48 | €1,375,702 | €1,506,552 | +€130,850 | +9.5% |
| Other operating charges | 640/8 | €1,790 | €1,210 | -€580 | -32.4% |
| Gross operating margin | 9900 | -€2,637 | -€1,817 | +€821 | +31.1% |
| Operating profit (loss) | 9901 | -€4,428 | -€3,027 | +€1,401 | +31.6% |
| Financial income | 75/76B | - | €31,814 | +€31,814 | |
| Recurring financial income | 75 | - | €31,814 | +€31,814 | |
| Financial charges | 65/66B | €21,990 | €43,569 | +€21,579 | +98.1% |
| Recurring financial charges | 65 | €21,990 | €43,569 | +€21,579 | +98.1% |
| Profit (loss) for the period before taxes | 9903 | -€26,417 | -€14,782 | +€11,635 | +44.0% |
| Profit (loss) for the period | 9904 | -€26,417 | -€14,782 | +€11,635 | +44.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,417 | -€14,782 | +€11,635 | +44.0% |
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 1 November 2026 via checked.be.