M & M PARTNERS: 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 PARTNERS
Largest movements
- Tangible fixed assets +€1.2m
up €1.2m (+89.2%), from €1.4m to €2.6m
of which Land and buildings: +€1.2m
- Cash +€105,878
up €105,878 (+110%), from €96,461 to €202,338
mainly Debts after one year (+€853,396) and Contributions, distributions and other (+€350,000)
- Debts after one year +€853,396
up €853,396 (+72.7%), from €1.2m to €2.0m
- Contributions +€350,000
up €350,000 (+565%), from €62,000 to €412,000
- Other debts +€141,835
up €141,835 (+236%), from €60,164 to €201,999
- Profit (loss) carried forward -€92,116
down €92,116 (-72.1%), from €127,740 to €35,624
- Current portion of long-term debt +€53,410
up €53,410 (+85.4%), from €62,514 to €115,924
- Depreciation +€78,780
up €78,780 (+62.5%), from €126,088 to €204,869
- Gross operating margin +€64,692
up €64,692 (+40.7%), from €158,990 to €223,682
- Financial charges +€50,261
up €50,261 (+104%), from €48,120 to €98,380
- Other operating charges -€11,052
down €11,052 (-47.4%), from €23,304 to €12,252
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 | €1,503,921 | €2,818,477 | +€1.3m | +87.4% |
| Fixed assets | 21/28 | €1,359,080 | €2,571,636 | +€1.2m | +89.2% |
| Tangible fixed assets | 22/27 | €1,359,080 | €2,571,636 | +€1.2m | +89.2% |
| Land and buildings | 22 | €1,351,807 | €2,556,513 | +€1.2m | +89.1% |
| Plant, machinery and equipment | 23 | €3,540 | €2,360 | -€1,180 | -33.3% |
| Furniture and vehicles | 24 | - | €2,737 | +€2,737 | |
| Other tangible fixed assets | 26 | €3,732 | €10,025 | +€6,293 | +169% |
| Current assets | 29/58 | €144,841 | €246,842 | +€102,001 | +70.4% |
| Amounts receivable within one year | 40/41 | €46,653 | €40,617 | -€6,036 | -12.9% |
| Trade receivables | 40 | €4,038 | - | -€4,038 | |
| Other amounts receivable | 41 | €42,615 | €40,617 | -€1,998 | -4.7% |
| Cash at bank and in hand | 54/58 | €96,461 | €202,338 | +€105,878 | +110% |
| Deferred charges and accrued income | 490/1 | €1,728 | €3,886 | +€2,159 | +125% |
| Total equity and liabilities | 10/49 | €1,503,921 | €2,818,477 | +€1.3m | +87.4% |
| Equity | 10/15 | €195,940 | €453,824 | +€257,884 | +132% |
| Contributions | 10/11 | €62,000 | €412,000 | +€350,000 | +565% |
| Capital | 10 | €62,000 | €412,000 | +€350,000 | +565% |
| Issued capital | 100 | €62,000 | €412,000 | +€350,000 | +565% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €127,740 | €35,624 | -€92,116 | -72.1% |
| Amounts payable | 17/49 | €1,307,981 | €2,364,653 | +€1.1m | +80.8% |
| Amounts payable after more than one year | 17 | €1,173,283 | €2,026,679 | +€853,396 | +72.7% |
| Financial debts | 170/4 | €1,173,283 | €2,026,679 | +€853,396 | +72.7% |
| Amounts payable within one year | 42/48 | €132,898 | €336,174 | +€203,276 | +153% |
| Current portion of amounts payable after more than one year | 42 | €62,514 | €115,924 | +€53,410 | +85.4% |
| Financial debts | 43 | - | €8,061 | +€8,061 | |
| Credit institutions | 430/8 | - | €8,061 | +€8,061 | |
| Trade debts | 44 | €738 | €3,248 | +€2,510 | +340% |
| Suppliers | 440/4 | €738 | €3,248 | +€2,510 | +340% |
| Taxes, remuneration and social security | 45 | €9,481 | €6,941 | -€2,540 | -26.8% |
| Taxes | 450/3 | €9,481 | €6,941 | -€2,540 | -26.8% |
| Other amounts payable | 47/48 | €60,164 | €201,999 | +€141,835 | +236% |
| Accrued charges and deferred income | 492/3 | €1,800 | €1,800 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126,088 | €204,869 | +€78,780 | +62.5% |
| Other operating charges | 640/8 | €23,304 | €12,252 | -€11,052 | -47.4% |
| Gross operating margin | 9900 | €158,990 | €223,682 | +€64,692 | +40.7% |
| Operating profit (loss) | 9901 | €9,598 | €6,561 | -€3,036 | -31.6% |
| Financial income | 75/76B | €27 | €84 | +€57 | +214% |
| Recurring financial income | 75 | €27 | €84 | +€57 | +214% |
| Financial charges | 65/66B | €48,120 | €98,380 | +€50,261 | +104% |
| Recurring financial charges | 65 | €48,120 | €98,380 | +€50,261 | +104% |
| Profit (loss) for the period before taxes | 9903 | -€38,495 | -€91,735 | -€53,240 | -138% |
| Income taxes | 67/77 | -€11 | €381 | +€392 | |
| Profit (loss) for the period | 9904 | -€38,484 | -€92,116 | -€53,632 | -139% |
| Profit (loss) for the period to be appropriated | 9905 | -€38,484 | -€92,116 | -€53,632 | -139% |
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 27 October 2026 via checked.be.