M&M Law: 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 Law
Largest movements
- Receivables within one year +€26,653
up €26,653 (+161%), from €16,566 to €43,219
- Cash +€24,729
up €24,729 (+312%), from €7,930 to €32,659
mainly Trade debts (+€30,697) and Debts after one year (+€12,000)
- Financial fixed assets -€3,540
no longer reported in 2025 (was €3,540)
- Trade debts +€30,697
up €30,697 (+182%), from €16,912 to €47,609
- Debts after one year +€12,000
new in 2025: €12,000
- Other debts +€3,608
up €3,608 (+40.1%), from €9,000 to €12,608
- Tax, wage and social debts +€3,195
up €3,195 (+38.0%), from €8,404 to €11,599
of which Taxes: +€3,219
- Profit (loss) carried forward -€1,019
down €1,019 (-21.5%), from -€4,735 to -€5,753
- Gross operating margin +€35,243
up €35,243 (+124%), from €28,323 to €63,565
- Staff costs +€29,554
up €29,554 (+90.0%), from €32,851 to €62,405
- Depreciation +€890
up €890 (+834%), from €107 to €997
- Financial charges +€651
up €651 (+466%), from €140 to €791
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 | €30,581 | €79,062 | +€48,481 | +159% |
| Fixed assets | 21/28 | €6,085 | €2,837 | -€3,248 | -53.4% |
| Tangible fixed assets | 22/27 | €2,545 | €2,837 | +€292 | +11.5% |
| Plant, machinery and equipment | 23 | €283 | €224 | -€59 | -21.0% |
| Furniture and vehicles | 24 | €2,262 | €2,613 | +€351 | +15.5% |
| Financial fixed assets | 28 | €3,540 | - | -€3,540 | |
| Current assets | 29/58 | €24,496 | €76,225 | +€51,729 | +211% |
| Amounts receivable within one year | 40/41 | €16,566 | €43,219 | +€26,653 | +161% |
| Trade receivables | 40 | €16,566 | €43,219 | +€26,653 | +161% |
| Cash at bank and in hand | 54/58 | €7,930 | €32,659 | +€24,729 | +312% |
| Deferred charges and accrued income | 490/1 | - | €347 | +€347 | |
| Total equity and liabilities | 10/49 | €30,581 | €79,062 | +€48,481 | +159% |
| Equity | 10/15 | -€3,735 | -€4,753 | -€1,019 | -27.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,735 | -€5,753 | -€1,019 | -21.5% |
| Amounts payable | 17/49 | €34,316 | €83,816 | +€49,500 | +144% |
| Amounts payable after more than one year | 17 | - | €12,000 | +€12,000 | |
| Financial debts | 170/4 | - | €12,000 | +€12,000 | |
| Amounts payable within one year | 42/48 | €34,316 | €71,816 | +€37,500 | +109% |
| Trade debts | 44 | €16,912 | €47,609 | +€30,697 | +182% |
| Suppliers | 440/4 | €16,912 | €47,609 | +€30,697 | +182% |
| Taxes, remuneration and social security | 45 | €8,404 | €11,599 | +€3,195 | +38.0% |
| Taxes | 450/3 | €4,495 | €7,714 | +€3,219 | +71.6% |
| Remuneration and social security | 454/9 | €3,910 | €3,885 | -€24 | -0.6% |
| Other amounts payable | 47/48 | €9,000 | €12,608 | +€3,608 | +40.1% |
| Remuneration, social security and pensions | 62 | €32,851 | €62,405 | +€29,554 | +90.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €107 | €997 | +€890 | +834% |
| Other operating charges | 640/8 | - | €419 | +€419 | |
| Gross operating margin | 9900 | €28,323 | €63,565 | +€35,243 | +124% |
| Operating profit (loss) | 9901 | -€4,635 | -€256 | +€4,379 | +94.5% |
| Financial income | 75/76B | €40 | €28 | -€12 | -30.3% |
| Recurring financial income | 75 | €40 | €28 | -€12 | -30.3% |
| Financial charges | 65/66B | €140 | €791 | +€651 | +466% |
| Recurring financial charges | 65 | €140 | €791 | +€651 | +466% |
| Profit (loss) for the period before taxes | 9903 | -€4,735 | -€1,019 | +€3,716 | +78.5% |
| Profit (loss) for the period | 9904 | -€4,735 | -€1,019 | +€3,716 | +78.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,735 | -€1,019 | +€3,716 | +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 21 October 2026 via checked.be.