M.N Consult: 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 Consult
Largest movements
- Tangible fixed assets +€1.4m
up €1.4m (+234%), from €595,842 to €2.0m
of which Land and buildings: +€1.4m
- Receivables within one year -€68,744
down €68,744 (-81.9%), from €83,891 to €15,147
of which Trade receivables: -€66,603
- Cash -€58,969
down €58,969 (-62.0%), from €95,090 to €36,121
mainly Investment in fixed assets (net) (-€1.6m) and Net result for the year (-€12,258)
- Debts after one year +€1.2m
up €1.2m (+269%), from €434,922 to €1.6m
- Other debts +€71,195
up €71,195 (+1,189%), from €5,990 to €77,185
- Current portion of long-term debt +€42,288
up €42,288 (+193%), from €21,903 to €64,191
- Depreciation +€220,729
up €220,729 (+1,336%), from €16,519 to €237,248
- Gross operating margin +€79,976
up €79,976 (+42.6%), from €187,818 to €267,794
- Taxes -€35,000
no longer reported in 2025 (was €35,000)
- Financial charges +€24,033
up €24,033 (+247%), from €9,724 to €33,757
- Other operating charges +€3,174
up €3,174 (+54.0%), from €5,873 to €9,047
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 | €774,823 | €2,042,097 | +€1.3m | +164% |
| Fixed assets | 21/28 | €595,842 | €1,990,829 | +€1.4m | +234% |
| Tangible fixed assets | 22/27 | €595,842 | €1,990,829 | +€1.4m | +234% |
| Land and buildings | 22 | €594,045 | €1,989,021 | +€1.4m | +235% |
| Furniture and vehicles | 24 | €1,797 | €1,807 | +€10 | +0.6% |
| Current assets | 29/58 | €178,981 | €51,268 | -€127,713 | -71.4% |
| Amounts receivable within one year | 40/41 | €83,891 | €15,147 | -€68,744 | -81.9% |
| Trade receivables | 40 | €81,750 | €15,147 | -€66,603 | -81.5% |
| Other amounts receivable | 41 | €2,141 | - | -€2,141 | |
| Cash at bank and in hand | 54/58 | €95,090 | €36,121 | -€58,969 | -62.0% |
| Total equity and liabilities | 10/49 | €774,823 | €2,042,097 | +€1.3m | +164% |
| Equity | 10/15 | €264,725 | €252,658 | -€12,067 | -4.6% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Contributions outside capital | 11 | €150,000 | - | -€150,000 | |
| Other | 1109/19 | €150,000 | - | -€150,000 | |
| Profit (loss) carried forward | 14 | €114,725 | €102,658 | -€12,067 | -10.5% |
| Amounts payable | 17/49 | €510,098 | €1,789,439 | +€1.3m | +251% |
| Amounts payable after more than one year | 17 | €434,922 | €1,605,121 | +€1.2m | +269% |
| Financial debts | 170/4 | €434,922 | €1,605,121 | +€1.2m | +269% |
| Amounts payable within one year | 42/48 | €73,561 | €182,703 | +€109,143 | +148% |
| Current portion of amounts payable after more than one year | 42 | €21,903 | €64,191 | +€42,288 | +193% |
| Trade debts | 44 | €5,320 | €990 | -€4,331 | -81.4% |
| Suppliers | 440/4 | €5,320 | €990 | -€4,331 | -81.4% |
| Taxes, remuneration and social security | 45 | €40,347 | €40,338 | -€9 | 0.0% |
| Taxes | 450/3 | €40,347 | €38,788 | -€1,559 | -3.9% |
| Remuneration and social security | 454/9 | - | €1,550 | +€1,550 | |
| Other amounts payable | 47/48 | €5,990 | €77,185 | +€71,195 | +1,189% |
| Accrued charges and deferred income | 492/3 | €1,615 | €1,615 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,519 | €237,248 | +€220,729 | +1,336% |
| Other operating charges | 640/8 | €5,873 | €9,047 | +€3,174 | +54.0% |
| Gross operating margin | 9900 | €187,818 | €267,794 | +€79,976 | +42.6% |
| Operating profit (loss) | 9901 | €165,425 | €21,499 | -€143,926 | -87.0% |
| Financial charges | 65/66B | €9,724 | €33,757 | +€24,033 | +247% |
| Recurring financial charges | 65 | €9,724 | €33,757 | +€24,033 | +247% |
| Profit (loss) for the period before taxes | 9903 | €155,701 | -€12,258 | -€167,959 | |
| Income taxes | 67/77 | €35,000 | - | -€35,000 | |
| Profit (loss) for the period | 9904 | €120,701 | -€12,258 | -€132,959 | |
| Profit (loss) for the period to be appropriated | 9905 | €120,701 | -€12,258 | -€132,959 |
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 14 October 2026 via checked.be.