M&M INVESTS: 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 INVESTS
Largest movements
- Cash +€77,554
up €77,554 (+725.2%), from €10,695 to €88,248
mainly Receivables within one year (+€76,797) and Depreciation (+€33,182)
- Receivables within one year -€76,797
down €76,797 (-53.1%), from €144,590 to €67,793
of which Trade receivables: -€78,028
- Tangible fixed assets -€33,182
down €33,182 (-11.6%), from €285,998 to €252,816
of which Land and buildings: -€23,093
- Reserves +€28,446
up €28,446 (+24.2%), from €117,490 to €145,936
- Debts after one year -€19,652
down €19,652 (-10.2%), from €192,737 to €173,085
- Other debts -€18,306
down €18,306 (-32.7%), from €55,975 to €37,669
- Tax, wage and social debts -€15,981
down €15,981 (-76.1%), from €20,988 to €5,007
of which Remuneration and social security: -€8,406
- Gross operating margin -€55,959
down €55,959 (-38.3%), from €146,282 to €90,323
- Staff costs -€55,409
down €55,409 (-91.0%), from €60,866 to €5,457
- Depreciation -€3,426
down €3,426 (-9.4%), from €36,608 to €33,182
- Other operating charges -€2,918
down €2,918 (-81.6%), from €3,576 to €658
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 | €442,148 | €410,791 | -€31,357 | -7.1% |
| Fixed assets | 21/28 | €285,998 | €252,816 | -€33,182 | -11.6% |
| Tangible fixed assets | 22/27 | €285,998 | €252,816 | -€33,182 | -11.6% |
| Land and buildings | 22 | €272,572 | €249,479 | -€23,093 | -8.5% |
| Furniture and vehicles | 24 | €13,426 | €3,337 | -€10,089 | -75.1% |
| Current assets | 29/58 | €156,151 | €157,975 | +€1,824 | +1.2% |
| Amounts receivable within one year | 40/41 | €144,590 | €67,793 | -€76,797 | -53.1% |
| Trade receivables | 40 | €143,370 | €65,341 | -€78,028 | -54.4% |
| Other amounts receivable | 41 | €1,220 | €2,451 | +€1,231 | +100.9% |
| Cash at bank and in hand | 54/58 | €10,695 | €88,248 | +€77,554 | +725.2% |
| Deferred charges and accrued income | 490/1 | €866 | €1,934 | +€1,068 | +123.3% |
| Total equity and liabilities | 10/49 | €442,148 | €410,791 | -€31,357 | -7.1% |
| Equity | 10/15 | €144,354 | €172,800 | +€28,446 | +19.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €117,490 | €145,936 | +€28,446 | +24.2% |
| Distributable reserves | 133 | €117,490 | €145,936 | +€28,446 | +24.2% |
| Profit (loss) carried forward | 14 | €8,264 | €8,264 | = | 0.0% |
| Amounts payable | 17/49 | €297,795 | €237,991 | -€59,803 | -20.1% |
| Amounts payable after more than one year | 17 | €192,737 | €173,085 | -€19,652 | -10.2% |
| Financial debts | 170/4 | €192,737 | €173,085 | -€19,652 | -10.2% |
| Amounts payable within one year | 42/48 | €103,403 | €63,190 | -€40,213 | -38.9% |
| Current portion of amounts payable after more than one year | 42 | €23,374 | €19,652 | -€3,722 | -15.9% |
| Trade debts | 44 | €3,066 | €862 | -€2,204 | -71.9% |
| Suppliers | 440/4 | €3,066 | €862 | -€2,204 | -71.9% |
| Taxes, remuneration and social security | 45 | €20,988 | €5,007 | -€15,981 | -76.1% |
| Taxes | 450/3 | €12,582 | €5,007 | -€7,575 | -60.2% |
| Remuneration and social security | 454/9 | €8,406 | - | -€8,406 | |
| Other amounts payable | 47/48 | €55,975 | €37,669 | -€18,306 | -32.7% |
| Accrued charges and deferred income | 492/3 | €1,655 | €1,716 | +€61 | +3.7% |
| Remuneration, social security and pensions | 62 | €60,866 | €5,457 | -€55,409 | -91.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,608 | €33,182 | -€3,426 | -9.4% |
| Other operating charges | 640/8 | €3,576 | €658 | -€2,918 | -81.6% |
| Gross operating margin | 9900 | €146,282 | €90,323 | -€55,959 | -38.3% |
| Operating profit (loss) | 9901 | €45,233 | €51,026 | +€5,793 | +12.8% |
| Financial charges | 65/66B | €5,917 | €5,638 | -€279 | -4.7% |
| Recurring financial charges | 65 | €5,917 | €5,638 | -€279 | -4.7% |
| Profit (loss) for the period before taxes | 9903 | €39,315 | €45,388 | +€6,073 | +15.4% |
| Income taxes | 67/77 | €15,807 | €16,109 | +€302 | +1.9% |
| Profit (loss) for the period | 9904 | €23,508 | €29,279 | +€5,771 | +24.5% |
| Profit (loss) for the period to be appropriated | 9905 | €23,508 | €29,279 | +€5,771 | +24.5% |
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 9 October 2026 via checked.be.