M&M PROJECTS: what changed
Two fiscal 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 PROJECTS
Largest movements
- Tangible fixed assets -€19,810
down €19,810 (-7.3%), from €270,441 to €250,631
- Debts after one year -€54,100
down €54,100 (-17.3%), from €312,585 to €258,485
- Profit (loss) carried forward +€46,283
up €46,283 (+16.9%), from €273,401 to €319,683
- Trade debts -€20,596
down €20,596 (-66.7%), from €30,861 to €10,265
- Gross operating margin -€34,513
down €34,513 (-37.5%), from €91,995 to €57,482
- Financial income +€19,755
up €19,755 (+107132.2%), from €18 to €19,774
- Other operating charges -€6,992
down €6,992 (-99.3%), from €7,042 to €51
- Financial charges -€1,954
down €1,954 (-15.0%), from €13,066 to €11,112
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 | €863,964 | €836,358 | -€27,606 | -3.2% |
| Fixed assets | 21/28 | €270,441 | €250,631 | -€19,810 | -7.3% |
| Tangible fixed assets | 22/27 | €270,441 | €250,631 | -€19,810 | -7.3% |
| Land and buildings | 22 | €270,441 | €250,631 | -€19,810 | -7.3% |
| Current assets | 29/58 | €593,523 | €585,727 | -€7,796 | -1.3% |
| Amounts receivable within one year | 40/41 | €586,156 | €579,164 | -€6,992 | -1.2% |
| Other amounts receivable | 41 | €586,156 | €579,164 | -€6,992 | -1.2% |
| Cash at bank and in hand | 54/58 | €7,367 | €6,563 | -€804 | -10.9% |
| Total equity and liabilities | 10/49 | €863,964 | €836,358 | -€27,606 | -3.2% |
| Equity | 10/15 | €505,401 | €551,683 | +€46,283 | +9.2% |
| Contributions | 10/11 | €170,000 | €170,000 | = | 0.0% |
| Capital | 10 | €170,000 | €170,000 | = | 0.0% |
| Issued capital | 100 | €170,000 | €170,000 | = | 0.0% |
| Reserves | 13 | €62,000 | €62,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €17,000 | - | -€17,000 | |
| Legal reserve | 130 | €17,000 | - | -€17,000 | |
| Tax-exempt reserves | 132 | €45,000 | €45,000 | = | 0.0% |
| Distributable reserves | 133 | - | €17,000 | +€17,000 | |
| Profit (loss) carried forward | 14 | €273,401 | €319,683 | +€46,283 | +16.9% |
| Provisions and deferred taxes | 16 | €15,000 | €15,000 | = | 0.0% |
| Deferred taxes | 168 | €15,000 | €15,000 | = | 0.0% |
| Amounts payable | 17/49 | €343,563 | €269,674 | -€73,889 | -21.5% |
| Amounts payable after more than one year | 17 | €312,585 | €258,485 | -€54,100 | -17.3% |
| Financial debts | 170/4 | €312,585 | €258,485 | -€54,100 | -17.3% |
| Amounts payable within one year | 42/48 | €30,979 | €11,190 | -€19,789 | -63.9% |
| Trade debts | 44 | €30,861 | €10,265 | -€20,596 | -66.7% |
| Suppliers | 440/4 | €30,861 | €10,265 | -€20,596 | -66.7% |
| Taxes, remuneration and social security | 45 | €118 | - | -€118 | |
| Taxes | 450/3 | €118 | - | -€118 | |
| Other amounts payable | 47/48 | - | €925 | +€925 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,810 | €19,810 | = | 0.0% |
| Other operating charges | 640/8 | €7,042 | €51 | -€6,992 | -99.3% |
| Gross operating margin | 9900 | €91,995 | €57,482 | -€34,513 | -37.5% |
| Operating profit (loss) | 9901 | €65,143 | €37,621 | -€27,522 | -42.2% |
| Financial income | 75/76B | €18 | €19,774 | +€19,755 | +107132.2% |
| Recurring financial income | 75 | €18 | €19,774 | +€19,755 | +107132.2% |
| Financial charges | 65/66B | €13,066 | €11,112 | -€1,954 | -15.0% |
| Recurring financial charges | 65 | €13,066 | €11,112 | -€1,954 | -15.0% |
| Profit (loss) for the period before taxes | 9903 | €52,095 | €46,283 | -€5,813 | -11.2% |
| Profit (loss) for the period | 9904 | €52,095 | €46,283 | -€5,813 | -11.2% |
| Profit (loss) for the period to be appropriated | 9905 | €52,095 | €46,283 | -€5,813 | -11.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.