M & M SYSTEMS: 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 SYSTEMS
Largest movements
- Receivables within one year -€29,491
down €29,491 (-16.7%), from €176,791 to €147,300
of which Trade receivables: -€34,228
- Cash -€26,302
down €26,302 (-69.9%), from €37,643 to €11,341
mainly Net result for the year (-€30,137) and Short-term financial debts (-€20,448)
- Profit (loss) carried forward -€30,137
down €30,137 (-48.8%), from €61,758 to €31,621
- Short-term financial debts -€20,448
down €20,448 (-100%), from €20,448 to €0
- Trade debts -€5,553
down €5,553 (-17.0%), from €32,596 to €27,044
- Gross operating margin -€37,243
down €37,243, from €10,681 to -€26,562
- Financial charges -€2,222
down €2,222 (-71.7%), from €3,097 to €875
- Depreciation -€2,006
down €2,006 (-100%), from €2,006 to €0
- Other operating charges -€547
down €547 (-43.9%), from €1,246 to €699
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 | €216,434 | €158,640 | -€57,794 | -26.7% |
| Fixed assets | 21/28 | €2,001 | €0 | -€2,001 | -100% |
| Tangible fixed assets | 22/27 | €2,001 | €0 | -€2,001 | -100% |
| Plant, machinery and equipment | 23 | €2,001 | €0 | -€2,001 | -100% |
| Current assets | 29/58 | €214,434 | €158,640 | -€55,794 | -26.0% |
| Amounts receivable within one year | 40/41 | €176,791 | €147,300 | -€29,491 | -16.7% |
| Trade receivables | 40 | €171,279 | €137,051 | -€34,228 | -20.0% |
| Other amounts receivable | 41 | €5,512 | €10,249 | +€4,736 | +85.9% |
| Cash at bank and in hand | 54/58 | €37,643 | €11,341 | -€26,302 | -69.9% |
| Total equity and liabilities | 10/49 | €216,434 | €158,640 | -€57,794 | -26.7% |
| Equity | 10/15 | €82,218 | €52,081 | -€30,137 | -36.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €61,758 | €31,621 | -€30,137 | -48.8% |
| Amounts payable | 17/49 | €134,217 | €106,559 | -€27,657 | -20.6% |
| Amounts payable after more than one year | 17 | €66,784 | €66,784 | = | 0.0% |
| Other amounts payable | 178/9 | €66,784 | €66,784 | = | 0.0% |
| Amounts payable within one year | 42/48 | €64,020 | €36,363 | -€27,657 | -43.2% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €20,448 | €0 | -€20,448 | -100% |
| Credit institutions | 430/8 | €20,448 | €0 | -€20,448 | -100% |
| Trade debts | 44 | €32,596 | €27,044 | -€5,553 | -17.0% |
| Suppliers | 440/4 | €32,596 | €27,044 | -€5,553 | -17.0% |
| Taxes, remuneration and social security | 45 | €1,657 | €0 | -€1,657 | -100% |
| Taxes | 450/3 | €1,657 | €0 | -€1,657 | -100% |
| Other amounts payable | 47/48 | €9,319 | €9,319 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €3,413 | €3,413 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,006 | €0 | -€2,006 | -100% |
| Other operating charges | 640/8 | €1,246 | €699 | -€547 | -43.9% |
| Non-recurring operating charges | 66A | - | €2,001 | +€2,001 | |
| Gross operating margin | 9900 | €10,681 | -€26,562 | -€37,243 | |
| Operating profit (loss) | 9901 | €7,429 | -€29,262 | -€36,691 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €3,097 | €875 | -€2,222 | -71.7% |
| Recurring financial charges | 65 | €3,097 | €875 | -€2,222 | -71.7% |
| Profit (loss) for the period before taxes | 9903 | €4,332 | -€30,137 | -€34,469 | |
| Profit (loss) for the period | 9904 | €4,332 | -€30,137 | -€34,469 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,332 | -€30,137 | -€34,469 |
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 26 October 2026 via checked.be.