M N CO: 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 N CO
Largest movements
- Cash +€59,645
up €59,645 (+195%), from €30,592 to €90,237
mainly Net result for the year (+€31,939) and Other debts (+€19,038)
- Receivables within one year -€14,750
down €14,750 (-46.0%), from €32,033 to €17,283
of which Other amounts receivable: -€18,859
- Tangible fixed assets -€6,142
down €6,142 (-20.6%), from €29,787 to €23,645
- Deferred charges and accrued income +€5,857
up €5,857 (+220%), from €2,660 to €8,517
- Reserves +€19,106
up €19,106 (+13.2%), from €144,876 to €163,982
- Other debts +€19,038
up €19,038 (+679%), from €2,803 to €21,841
- Tax, wage and social debts +€4,407
up €4,407 (+90.0%), from €4,898 to €9,306
- Gross operating margin +€16,788
up €16,788 (+62.3%), from €26,937 to €43,725
- Other operating charges -€7,966
down €7,966 (-93.3%), from €8,539 to €574
- Depreciation +€4,616
up €4,616 (+216%), from €2,134 to €6,750
- Financial income +€2,419
up €2,419 (+113%), from €2,143 to €4,562
- Write-downs -€1,598
down €1,598 (-85.8%), from €1,862 to €263
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 | €245,073 | €289,683 | +€44,610 | +18.2% |
| Fixed assets | 21/28 | €29,787 | €23,645 | -€6,142 | -20.6% |
| Tangible fixed assets | 22/27 | €29,787 | €23,645 | -€6,142 | -20.6% |
| Furniture and vehicles | 24 | €29,787 | €23,645 | -€6,142 | -20.6% |
| Current assets | 29/58 | €215,286 | €266,037 | +€50,752 | +23.6% |
| Amounts receivable within one year | 40/41 | €32,033 | €17,283 | -€14,750 | -46.0% |
| Trade receivables | 40 | €8,395 | €12,504 | +€4,109 | +48.9% |
| Other amounts receivable | 41 | €23,637 | €4,779 | -€18,859 | -79.8% |
| Current investments | 50/53 | €150,000 | €150,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €30,592 | €90,237 | +€59,645 | +195% |
| Deferred charges and accrued income | 490/1 | €2,660 | €8,517 | +€5,857 | +220% |
| Total equity and liabilities | 10/49 | €245,073 | €289,683 | +€44,610 | +18.2% |
| Equity | 10/15 | €236,898 | €256,004 | +€19,106 | +8.1% |
| Contributions | 10/11 | €92,022 | €92,022 | = | 0.0% |
| Reserves | 13 | €144,876 | €163,982 | +€19,106 | +13.2% |
| Distributable reserves | 133 | €144,876 | €163,982 | +€19,106 | +13.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €8,175 | €33,678 | +€25,503 | +312% |
| Amounts payable within one year | 42/48 | €7,701 | €31,694 | +€23,993 | +312% |
| Trade debts | 44 | - | €547 | +€547 | |
| Suppliers | 440/4 | - | €547 | +€547 | |
| Taxes, remuneration and social security | 45 | €4,898 | €9,306 | +€4,407 | +90.0% |
| Taxes | 450/3 | €4,898 | €9,306 | +€4,407 | +90.0% |
| Other amounts payable | 47/48 | €2,803 | €21,841 | +€19,038 | +679% |
| Accrued charges and deferred income | 492/3 | €474 | €1,984 | +€1,511 | +319% |
| Non-recurring operating income | 76A | - | €202 | +€202 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,134 | €6,750 | +€4,616 | +216% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,862 | €263 | -€1,598 | -85.8% |
| Other operating charges | 640/8 | €8,539 | €574 | -€7,966 | -93.3% |
| Gross operating margin | 9900 | €26,937 | €43,725 | +€16,788 | +62.3% |
| Operating profit (loss) | 9901 | €14,402 | €36,138 | +€21,736 | +151% |
| Financial income | 75/76B | €2,143 | €4,562 | +€2,419 | +113% |
| Recurring financial income | 75 | €2,143 | €4,562 | +€2,419 | +113% |
| Financial charges | 65/66B | - | €85 | +€85 | |
| Recurring financial charges | 65 | - | €85 | +€85 | |
| Profit (loss) for the period before taxes | 9903 | €16,546 | €40,615 | +€24,069 | +145% |
| Income taxes | 67/77 | €9,003 | €8,675 | -€328 | -3.6% |
| Profit (loss) for the period | 9904 | €7,542 | €31,939 | +€24,397 | +323% |
| Profit (loss) for the period to be appropriated | 9905 | €7,542 | €31,939 | +€24,397 | +323% |
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.