M&M SMART: 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 SMART
Largest movements
- Receivables within one year +€20,869
new in 2025: €20,869
- Cash +€3,781
up €3,781 (+150.4%), from €2,514 to €6,295
mainly Trade debts (+€28,083) and Other debts (+€8,850)
- Trade debts +€28,083
up €28,083 (+66864.0%), from €42 to €28,125
- Profit (loss) carried forward -€11,373
down €11,373 (-52.9%), from -€21,479 to -€32,852
- Other debts +€8,850
up €8,850 (+49.1%), from €18,041 to €26,891
- Tax, wage and social debts -€910
no longer reported in 2025 (was €910)
of which Taxes: -€706
- Purchases and services -€27,487
no longer reported in 2025 (was €27,487)
- Turnover -€9,414
no longer reported in 2025 (was €9,414)
- Gross operating margin +€6,724
up €6,724 (+37.2%), from -€18,073 to -€11,349
- Staff costs -€3,354
no longer reported in 2025 (was €3,354)
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 | €2,514 | €27,164 | +€24,650 | +980.5% |
| Current assets | 29/58 | €2,514 | €27,164 | +€24,650 | +980.5% |
| Amounts receivable within one year | 40/41 | - | €20,869 | +€20,869 | |
| Trade receivables | 40 | - | €20,869 | +€20,869 | |
| Cash at bank and in hand | 54/58 | €2,514 | €6,295 | +€3,781 | +150.4% |
| Total equity and liabilities | 10/49 | €2,514 | €27,164 | +€24,650 | +980.5% |
| Equity | 10/15 | -€16,479 | -€27,852 | -€11,373 | -69.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Outside capital | 11 | €5,000 | - | -€5,000 | |
| Share premium | 1100/10 | €5,000 | - | -€5,000 | |
| Profit (loss) carried forward | 14 | -€21,479 | -€32,852 | -€11,373 | -52.9% |
| Amounts payable | 17/49 | €18,993 | €55,016 | +€36,023 | +189.7% |
| Amounts payable within one year | 42/48 | €18,993 | €55,016 | +€36,023 | +189.7% |
| Trade debts | 44 | €42 | €28,125 | +€28,083 | +66864.0% |
| Suppliers | 440/4 | €42 | €28,125 | +€28,083 | +66864.0% |
| Taxes, remuneration and social security | 45 | €910 | - | -€910 | |
| Taxes | 450/3 | €706 | - | -€706 | |
| Remuneration and social security | 454/9 | €204 | - | -€204 | |
| Other amounts payable | 47/48 | €18,041 | €26,891 | +€8,850 | +49.1% |
| Turnover | 70 | €9,414 | - | -€9,414 | |
| Goods, raw materials, services and sundry goods | 60/61 | €27,487 | - | -€27,487 | |
| Remuneration, social security and pensions | 62 | €3,354 | - | -€3,354 | |
| Gross operating margin | 9900 | -€18,073 | -€11,349 | +€6,724 | +37.2% |
| Operating profit (loss) | 9901 | -€21,428 | -€11,349 | +€10,079 | +47.0% |
| Financial charges | 65/66B | €51 | €24 | -€28 | -54.0% |
| Recurring financial charges | 65 | €51 | €24 | -€28 | -54.0% |
| Profit (loss) for the period before taxes | 9903 | -€21,479 | -€11,373 | +€10,106 | +47.1% |
| Profit (loss) for the period | 9904 | -€21,479 | -€11,373 | +€10,106 | +47.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,479 | -€11,373 | +€10,106 | +47.1% |
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 2 October 2026 via checked.be.