M.M.M.: 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.M.
Largest movements
- Cash +€38,242
up €38,242 (+618%), from €6,187 to €44,429
mainly Depreciation (+€27,350) and Net result for the year (+€14,173)
- Tangible fixed assets -€27,350
down €27,350 (-9.1%), from €300,909 to €273,559
of which Land and buildings: -€26,422
- Receivables within one year -€7,684
no longer reported in 2025 (was €7,684)
of which Other amounts receivable: -€7,184
- Profit (loss) carried forward +€14,173
up €14,173 (+27.8%), from -€50,939 to -€36,766
- Tax, wage and social debts -€6,101
no longer reported in 2025 (was €6,101)
- Gross operating margin +€40,098
up €40,098 (+678%), from €5,917 to €46,014
- Depreciation +€9,648
up €9,648 (+54.5%), from €17,702 to €27,350
- Financial charges -€816
down €816 (-69.0%), from €1,182 to €366
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 | €314,781 | €320,075 | +€5,295 | +1.7% |
| Fixed assets | 21/28 | €300,909 | €273,559 | -€27,350 | -9.1% |
| Tangible fixed assets | 22/27 | €300,909 | €273,559 | -€27,350 | -9.1% |
| Land and buildings | 22 | €294,412 | €267,990 | -€26,422 | -9.0% |
| Plant, machinery and equipment | 23 | €6,497 | €5,569 | -€928 | -14.3% |
| Current assets | 29/58 | €13,871 | €46,516 | +€32,645 | +235% |
| Amounts receivable within one year | 40/41 | €7,684 | - | -€7,684 | |
| Trade receivables | 40 | €500 | - | -€500 | |
| Other amounts receivable | 41 | €7,184 | - | -€7,184 | |
| Cash at bank and in hand | 54/58 | €6,187 | €44,429 | +€38,242 | +618% |
| Deferred charges and accrued income | 490/1 | - | €2,087 | +€2,087 | |
| Total equity and liabilities | 10/49 | €314,781 | €320,075 | +€5,295 | +1.7% |
| Equity | 10/15 | €305,902 | €320,075 | +€14,173 | +4.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €338,241 | €338,241 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €336,381 | €338,241 | +€1,860 | +0.6% |
| Profit (loss) carried forward | 14 | -€50,939 | -€36,766 | +€14,173 | +27.8% |
| Amounts payable | 17/49 | €8,878 | - | -€8,878 | |
| Amounts payable after more than one year | 17 | €2,778 | - | -€2,778 | |
| Financial debts | 170/4 | €2,778 | - | -€2,778 | |
| Amounts payable within one year | 42/48 | €6,101 | - | -€6,101 | |
| Taxes, remuneration and social security | 45 | €6,101 | - | -€6,101 | |
| Taxes | 450/3 | €6,101 | - | -€6,101 | |
| Non-recurring operating income | 76A | €4,525 | - | -€4,525 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,702 | €27,350 | +€9,648 | +54.5% |
| Other operating charges | 640/8 | €3,929 | €4,125 | +€196 | +5.0% |
| Gross operating margin | 9900 | €5,917 | €46,014 | +€40,098 | +678% |
| Operating profit (loss) | 9901 | -€15,714 | €14,539 | +€30,253 | |
| Financial charges | 65/66B | €1,182 | €366 | -€816 | -69.0% |
| Recurring financial charges | 65 | €1,182 | €366 | -€816 | -69.0% |
| Profit (loss) for the period before taxes | 9903 | -€16,896 | €14,173 | +€31,068 | |
| Profit (loss) for the period | 9904 | -€16,896 | €14,173 | +€31,068 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,896 | €14,173 | +€31,068 |
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 14 October 2026 via checked.be.