M&M Horeca: 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 Horeca
Largest movements
- Tangible fixed assets +€39,191
up €39,191 (+11.6%), from €337,534 to €376,725
of which Furniture and vehicles: +€64,569
- Receivables within one year -€15,913
down €15,913 (-92.5%), from €17,195 to €1,282
of which Trade receivables: -€16,195
- Cash -€10,207
down €10,207 (-24.3%), from €41,984 to €31,777
mainly Investment in fixed assets (net) (-€79,343) and Contributions, distributions and other (-€22,931)
- Other debts +€32,266
up €32,266 (+32.2%), from €100,104 to €132,370
- Reserves -€16,152
down €16,152 (-31.9%), from €50,585 to €34,433
- Debts after one year -€9,571
down €9,571 (-4.8%), from €200,180 to €190,608
- Tax, wage and social debts +€6,598
up €6,598 (+45.2%), from €14,589 to €21,188
of which Taxes: +€4,247
- Current portion of long-term debt +€5,474
up €5,474 (+27.7%), from €19,754 to €25,228
- Staff costs +€15,682
up €15,682 (+24.2%), from €64,910 to €80,592
- Depreciation +€9,156
up €9,156 (+29.5%), from €30,997 to €40,153
- Taxes -€5,081
down €5,081 (-57.1%), from €8,901 to €3,819
- Financial charges +€2,063
up €2,063 (+21.3%), from €9,664 to €11,727
- Other operating charges +€1,876
up €1,876 (+67.0%), from €2,800 to €4,676
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 | €408,225 | €422,617 | +€14,392 | +3.5% |
| Fixed assets | 21/28 | €337,534 | €376,725 | +€39,191 | +11.6% |
| Tangible fixed assets | 22/27 | €337,534 | €376,725 | +€39,191 | +11.6% |
| Land and buildings | 22 | €282,860 | €264,383 | -€18,476 | -6.5% |
| Plant, machinery and equipment | 23 | €50,044 | €43,143 | -€6,902 | -13.8% |
| Furniture and vehicles | 24 | €4,630 | €69,199 | +€64,569 | +1,394% |
| Current assets | 29/58 | €70,691 | €45,892 | -€24,799 | -35.1% |
| Stocks and contracts in progress | 3 | €8,237 | €8,457 | +€221 | +2.7% |
| Stocks | 30/36 | €8,237 | €8,457 | +€221 | +2.7% |
| Amounts receivable within one year | 40/41 | €17,195 | €1,282 | -€15,913 | -92.5% |
| Trade receivables | 40 | €16,195 | €0 | -€16,195 | -100% |
| Other amounts receivable | 41 | €1,000 | €1,282 | +€282 | +28.2% |
| Cash at bank and in hand | 54/58 | €41,984 | €31,777 | -€10,207 | -24.3% |
| Deferred charges and accrued income | 490/1 | €3,276 | €4,376 | +€1,101 | +33.6% |
| Total equity and liabilities | 10/49 | €408,225 | €422,617 | +€14,392 | +3.5% |
| Equity | 10/15 | €69,185 | €53,033 | -€16,152 | -23.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €50,585 | €34,433 | -€16,152 | -31.9% |
| Distributable reserves | 133 | €50,585 | €34,433 | -€16,152 | -31.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €339,040 | €369,584 | +€30,544 | +9.0% |
| Amounts payable after more than one year | 17 | €200,180 | €190,608 | -€9,571 | -4.8% |
| Financial debts | 170/4 | €200,180 | €190,608 | -€9,571 | -4.8% |
| Amounts payable within one year | 42/48 | €138,860 | €178,975 | +€40,115 | +28.9% |
| Current portion of amounts payable after more than one year | 42 | €19,754 | €25,228 | +€5,474 | +27.7% |
| Trade debts | 44 | €4,413 | €189 | -€4,224 | -95.7% |
| Suppliers | 440/4 | €4,413 | €189 | -€4,224 | -95.7% |
| Taxes, remuneration and social security | 45 | €14,589 | €21,188 | +€6,598 | +45.2% |
| Taxes | 450/3 | €10,848 | €15,094 | +€4,247 | +39.1% |
| Remuneration and social security | 454/9 | €3,742 | €6,093 | +€2,352 | +62.9% |
| Other amounts payable | 47/48 | €100,104 | €132,370 | +€32,266 | +32.2% |
| Remuneration, social security and pensions | 62 | €64,910 | €80,592 | +€15,682 | +24.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,997 | €40,153 | +€9,156 | +29.5% |
| Other operating charges | 640/8 | €2,800 | €4,676 | +€1,876 | +67.0% |
| Gross operating margin | 9900 | €148,001 | €147,716 | -€285 | -0.2% |
| Operating profit (loss) | 9901 | €49,294 | €22,296 | -€26,999 | -54.8% |
| Financial income | 75/76B | €781 | €30 | -€751 | -96.2% |
| Recurring financial income | 75 | €781 | €30 | -€751 | -96.2% |
| Financial charges | 65/66B | €9,664 | €11,727 | +€2,063 | +21.3% |
| Recurring financial charges | 65 | €9,664 | €11,727 | +€2,063 | +21.3% |
| Profit (loss) for the period before taxes | 9903 | €40,411 | €10,598 | -€29,812 | -73.8% |
| Income taxes | 67/77 | €8,901 | €3,819 | -€5,081 | -57.1% |
| Profit (loss) for the period | 9904 | €31,510 | €6,779 | -€24,731 | -78.5% |
| Profit (loss) for the period to be appropriated | 9905 | €31,510 | €6,779 | -€24,731 | -78.5% |
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 18 October 2026 via checked.be.