M.M.I.: 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.I.
Largest movements
- Tangible fixed assets -€29,325
down €29,325 (-4.2%), from €698,908 to €669,583
- Cash -€28,792
down €28,792 (-18.5%), from €155,696 to €126,904
mainly Other debts (-€99,782) and Debts after one year (-€53,435)
- Other debts -€99,782
down €99,782 (-60.5%), from €164,958 to €65,176
- Reserves +€68,128
up €68,128 (+24.9%), from €273,355 to €341,484
of which Distributable reserves: +€68,128
- Debts after one year -€53,435
down €53,435 (-12.4%), from €431,726 to €378,291
- Tax, wage and social debts +€33,453
up €33,453 (+15318.6%), from €218 to €33,671
- Gross operating margin +€23,311
up €23,311 (+19.2%), from €121,303 to €144,614
- Taxes +€9,705
up €9,705 (+39.9%), from €24,353 to €34,058
- Financial charges -€1,907
down €1,907 (-17.3%), from €11,018 to €9,110
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.
Cash bridge derived
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 | €929,448 | €879,712 | -€49,736 | -5.4% |
| Fixed assets | 21/28 | €698,908 | €669,583 | -€29,325 | -4.2% |
| Tangible fixed assets | 22/27 | €698,908 | €669,583 | -€29,325 | -4.2% |
| Land and buildings | 22 | €698,908 | €669,583 | -€29,325 | -4.2% |
| Current assets | 29/58 | €230,540 | €210,129 | -€20,411 | -8.9% |
| Amounts receivable within one year | 40/41 | €74,843 | €74,622 | -€221 | -0.3% |
| Trade receivables | 40 | €70,327 | €70,327 | = | 0.0% |
| Other amounts receivable | 41 | €4,516 | €4,295 | -€221 | -4.9% |
| Cash at bank and in hand | 54/58 | €155,696 | €126,904 | -€28,792 | -18.5% |
| Deferred charges and accrued income | 490/1 | - | €8,602 | +€8,602 | |
| Total equity and liabilities | 10/49 | €929,448 | €879,712 | -€49,736 | -5.4% |
| Equity | 10/15 | €280,230 | €348,359 | +€68,128 | +24.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €273,355 | €341,484 | +€68,128 | +24.9% |
| Non-distributable reserves | 130/1 | €15,410 | €15,410 | = | 0.0% |
| Reserves not available under the articles | 1311 | €15,410 | €15,410 | = | 0.0% |
| Distributable reserves | 133 | €257,945 | €326,074 | +€68,128 | +26.4% |
| Profit (loss) carried forward | 14 | €3,875 | €3,875 | = | 0.0% |
| Amounts payable | 17/49 | €649,218 | €531,353 | -€117,865 | -18.2% |
| Amounts payable after more than one year | 17 | €431,726 | €378,291 | -€53,435 | -12.4% |
| Financial debts | 170/4 | €431,726 | €378,291 | -€53,435 | -12.4% |
| Amounts payable within one year | 42/48 | €217,007 | €152,582 | -€64,425 | -29.7% |
| Current portion of amounts payable after more than one year | 42 | €51,828 | €53,015 | +€1,187 | +2.3% |
| Trade debts | 44 | €3 | €720 | +€718 | +26778.7% |
| Suppliers | 440/4 | €3 | €720 | +€718 | +26778.7% |
| Taxes, remuneration and social security | 45 | €218 | €33,671 | +€33,453 | +15318.6% |
| Taxes | 450/3 | €218 | €33,671 | +€33,453 | +15318.6% |
| Other amounts payable | 47/48 | €164,958 | €65,176 | -€99,782 | -60.5% |
| Accrued charges and deferred income | 492/3 | €485 | €480 | -€5 | -1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,325 | €29,325 | = | 0.0% |
| Other operating charges | 640/8 | €5,123 | €5,281 | +€158 | +3.1% |
| Gross operating margin | 9900 | €121,303 | €144,614 | +€23,311 | +19.2% |
| Operating profit (loss) | 9901 | €86,855 | €110,008 | +€23,153 | +26.7% |
| Financial income | 75/76B | €665 | €1,289 | +€624 | +93.8% |
| Recurring financial income | 75 | €665 | €1,289 | +€624 | +93.8% |
| Financial charges | 65/66B | €11,018 | €9,110 | -€1,907 | -17.3% |
| Recurring financial charges | 65 | €11,018 | €9,110 | -€1,907 | -17.3% |
| Profit (loss) for the period before taxes | 9903 | €76,503 | €102,186 | +€25,684 | +33.6% |
| Income taxes | 67/77 | €24,353 | €34,058 | +€9,705 | +39.9% |
| Profit (loss) for the period | 9904 | €52,150 | €68,128 | +€15,979 | +30.6% |
| Profit (loss) for the period to be appropriated | 9905 | €52,150 | €68,128 | +€15,979 | +30.6% |
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 11 October 2026 via checked.be.