M&M HOLDING: 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 HOLDING
Largest movements
- Receivables within one year +€659,672
up €659,672 (+229%), from €288,189 to €947,861
of which Other amounts receivable: +€478,646
- Tangible fixed assets -€177,758
down €177,758 (-23.6%), from €753,758 to €576,000
- Cash -€169,413
down €169,413 (-70.7%), from €239,605 to €70,192
mainly Other debts (-€737,517) and Receivables within one year (-€659,672)
- Reserves +€4.6m
new in 2025: €4.6m
- Profit (loss) carried forward -€3.2m
down €3.2m (-100%), from €3.2m to €0
- Other debts -€737,517
down €737,517 (-44.1%), from €1.7m to €933,571
- Current portion of long-term debt -€400,000
down €400,000 (-100%), from €400,000 to €0
- Gross operating margin -€3.7m
down €3.7m (-91.2%), from €4.0m to €352,537
- Financial income +€997,250
up €997,250 (+99.3%), from €1.0m to €2.0m
- Depreciation -€144,000
down €144,000 (-100%), from €144,000 to €0
- Taxes -€129,726
down €129,726 (-100%), from €129,726 to €0
- Financial charges -€103,855
down €103,855 (-75.8%), from €136,960 to €33,105
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 | €6,086,610 | €6,400,234 | +€313,625 | +5.2% |
| Fixed assets | 21/28 | €5,553,758 | €5,376,000 | -€177,758 | -3.2% |
| Tangible fixed assets | 22/27 | €753,758 | €576,000 | -€177,758 | -23.6% |
| Other tangible fixed assets | 26 | €753,758 | €576,000 | -€177,758 | -23.6% |
| Financial fixed assets | 28 | €4,800,000 | €4,800,000 | = | 0.0% |
| Current assets | 29/58 | €532,852 | €1,024,234 | +€491,383 | +92.2% |
| Amounts receivable within one year | 40/41 | €288,189 | €947,861 | +€659,672 | +229% |
| Trade receivables | 40 | €200,059 | €381,085 | +€181,025 | +90.5% |
| Other amounts receivable | 41 | €88,130 | €566,776 | +€478,646 | +543% |
| Cash at bank and in hand | 54/58 | €239,605 | €70,192 | -€169,413 | -70.7% |
| Deferred charges and accrued income | 490/1 | €5,058 | €6,182 | +€1,123 | +22.2% |
| Total equity and liabilities | 10/49 | €6,086,610 | €6,400,234 | +€313,625 | +5.2% |
| Equity | 10/15 | €3,736,312 | €5,131,061 | +€1.4m | +37.3% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | - | €4,631,061 | +€4.6m | |
| Distributable reserves | 133 | - | €4,631,061 | +€4.6m | |
| Profit (loss) carried forward | 14 | €3,236,312 | €0 | -€3.2m | -100% |
| Amounts payable | 17/49 | €2,350,298 | €1,269,173 | -€1.1m | -46.0% |
| Amounts payable within one year | 42/48 | €2,341,073 | €1,263,732 | -€1.1m | -46.0% |
| Current portion of amounts payable after more than one year | 42 | €400,000 | €0 | -€400,000 | -100% |
| Trade debts | 44 | €140,086 | €200,378 | +€60,292 | +43.0% |
| Suppliers | 440/4 | €140,086 | €200,378 | +€60,292 | +43.0% |
| Taxes, remuneration and social security | 45 | €129,898 | €129,782 | -€116 | -0.1% |
| Taxes | 450/3 | €129,898 | €129,782 | -€116 | -0.1% |
| Other amounts payable | 47/48 | €1,671,089 | €933,571 | -€737,517 | -44.1% |
| Accrued charges and deferred income | 492/3 | €9,225 | €5,441 | -€3,783 | -41.0% |
| Non-recurring operating income | 76A | €3,851,386 | €366,121 | -€3.5m | -90.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €144,000 | €0 | -€144,000 | -100% |
| Other operating charges | 640/8 | €11,094 | €998 | -€10,096 | -91.0% |
| Non-recurring operating charges | 66A | €2,894,550 | €375,509 | -€2.5m | -87.0% |
| Gross operating margin | 9900 | €4,022,526 | €352,537 | -€3.7m | -91.2% |
| Operating profit (loss) | 9901 | €972,881 | -€23,971 | -€996,852 | |
| Financial income | 75/76B | €1,004,575 | €2,001,825 | +€997,250 | +99.3% |
| Recurring financial income | 75 | €1,004,575 | €2,001,825 | +€997,250 | +99.3% |
| Financial charges | 65/66B | €136,960 | €33,105 | -€103,855 | -75.8% |
| Recurring financial charges | 65 | €136,960 | €33,105 | -€103,855 | -75.8% |
| Profit (loss) for the period before taxes | 9903 | €1,840,496 | €1,944,749 | +€104,253 | +5.7% |
| Income taxes | 67/77 | €129,726 | €0 | -€129,726 | -100% |
| Profit (loss) for the period | 9904 | €1,710,771 | €1,944,749 | +€233,978 | +13.7% |
| Profit (loss) for the period to be appropriated | 9905 | €1,710,771 | €1,944,749 | +€233,978 | +13.7% |
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 19 October 2026 via checked.be.