M&MC: 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&MC
Largest movements
- Cash -€23,640
down €23,640 (-32.8%), from €71,996 to €48,356
mainly Other debts (-€20,054) and Trade debts (-€8,062)
- Tangible fixed assets -€8,688
down €8,688 (-9.7%), from €89,916 to €81,228
of which Furniture and vehicles: -€4,722
- Stocks and contracts -€3,937
down €3,937 (-48.2%), from €8,172 to €4,236
- Other debts -€20,054
down €20,054 (-32.0%), from €62,663 to €42,609
- Trade debts -€8,062
down €8,062 (-40.9%), from €19,723 to €11,661
- Tax, wage and social debts -€6,948
down €6,948 (-53.2%), from €13,053 to €6,106
- Debts after one year -€2,765
down €2,765 (-79.5%), from €3,477 to €713
- Gross operating margin -€34,841
down €34,841 (-60.6%), from €57,525 to €22,684
- Taxes -€4,821
down €4,821 (-49.0%), from €9,832 to €5,011
- Depreciation +€1,827
up €1,827 (+18.3%), from €10,006 to €11,833
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 | €272,826 | €237,431 | -€35,396 | -13.0% |
| Fixed assets | 21/28 | €89,916 | €81,228 | -€8,688 | -9.7% |
| Tangible fixed assets | 22/27 | €89,916 | €81,228 | -€8,688 | -9.7% |
| Land and buildings | 22 | €27,486 | €27,486 | = | 0.0% |
| Plant, machinery and equipment | 23 | €42,572 | €38,606 | -€3,966 | -9.3% |
| Furniture and vehicles | 24 | €19,858 | €15,136 | -€4,722 | -23.8% |
| Current assets | 29/58 | €182,911 | €156,203 | -€26,708 | -14.6% |
| Stocks and contracts in progress | 3 | €8,172 | €4,236 | -€3,937 | -48.2% |
| Stocks | 30/36 | €8,172 | €4,236 | -€3,937 | -48.2% |
| Amounts receivable within one year | 40/41 | €262 | €1,168 | +€906 | +345.8% |
| Trade receivables | 40 | - | €1,145 | +€1,145 | |
| Other amounts receivable | 41 | €262 | €23 | -€239 | -91.4% |
| Current investments | 50/53 | €100,904 | €100,904 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €71,996 | €48,356 | -€23,640 | -32.8% |
| Deferred charges and accrued income | 490/1 | €1,577 | €1,540 | -€37 | -2.3% |
| Total equity and liabilities | 10/49 | €272,826 | €237,431 | -€35,396 | -13.0% |
| Equity | 10/15 | €169,389 | €171,681 | +€2,292 | +1.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €72,000 | €72,000 | = | 0.0% |
| Distributable reserves | 133 | €72,000 | €72,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €91,189 | €93,481 | +€2,292 | +2.5% |
| Amounts payable | 17/49 | €103,437 | €65,750 | -€37,688 | -36.4% |
| Amounts payable after more than one year | 17 | €3,477 | €713 | -€2,765 | -79.5% |
| Financial debts | 170/4 | €3,477 | €713 | -€2,765 | -79.5% |
| Amounts payable within one year | 42/48 | €98,071 | €63,140 | -€34,931 | -35.6% |
| Current portion of amounts payable after more than one year | 42 | €2,632 | €2,765 | +€133 | +5.0% |
| Trade debts | 44 | €19,723 | €11,661 | -€8,062 | -40.9% |
| Suppliers | 440/4 | €19,723 | €11,661 | -€8,062 | -40.9% |
| Taxes, remuneration and social security | 45 | €13,053 | €6,106 | -€6,948 | -53.2% |
| Taxes | 450/3 | €13,053 | €6,106 | -€6,948 | -53.2% |
| Other amounts payable | 47/48 | €62,663 | €42,609 | -€20,054 | -32.0% |
| Accrued charges and deferred income | 492/3 | €1,889 | €1,897 | +€8 | +0.4% |
| Non-recurring operating income | 76A | €6,444 | - | -€6,444 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,006 | €11,833 | +€1,827 | +18.3% |
| Other operating charges | 640/8 | €1,831 | €2,038 | +€207 | +11.3% |
| Non-recurring operating charges | 66A | - | €1,173 | +€1,173 | |
| Gross operating margin | 9900 | €57,525 | €22,684 | -€34,841 | -60.6% |
| Operating profit (loss) | 9901 | €45,687 | €7,640 | -€38,047 | -83.3% |
| Financial income | 75/76B | €10 | €193 | +€183 | +1850.3% |
| Recurring financial income | 75 | €10 | €1 | -€9 | -87.8% |
| Non-recurring financial income | 76B | - | €192 | +€192 | |
| Financial charges | 65/66B | €829 | €530 | -€299 | -36.1% |
| Recurring financial charges | 65 | €610 | €526 | -€84 | -13.7% |
| Non-recurring financial charges | 66B | €219 | €4 | -€215 | -98.4% |
| Profit (loss) for the period before taxes | 9903 | €44,868 | €7,303 | -€37,565 | -83.7% |
| Income taxes | 67/77 | €9,832 | €5,011 | -€4,821 | -49.0% |
| Profit (loss) for the period | 9904 | €35,036 | €2,292 | -€32,744 | -93.5% |
| Profit (loss) for the period to be appropriated | 9905 | €35,036 | €2,292 | -€32,744 | -93.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.