M-POWER: 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-POWER
Largest movements
- Receivables within one year -€11,979
down €11,979 (-53.6%), from €22,345 to €10,366
of which Trade receivables: -€21,057
- Cash -€7,523
down €7,523 (-22.3%), from €33,801 to €26,278
mainly Contributions, distributions and other (-€25,904) and Net result for the year (-€11,513)
- Tangible fixed assets -€5,253
down €5,253 (-14.3%), from €36,830 to €31,577
of which Furniture and vehicles: -€4,856
- Reserves -€37,417
down €37,417 (-100%), from €37,417 to €0
- Other debts +€19,950
up €19,950 (+86.3%), from €23,110 to €43,060
- Tax, wage and social debts -€4,800
down €4,800 (-62.0%), from €7,748 to €2,948
of which Taxes: -€7,748
- Trade debts -€3,534
down €3,534 (-55.0%), from €6,421 to €2,887
- Accrued charges and deferred income +€1,049
new in 2025: €1,049
- Gross operating margin -€73,481
down €73,481, from €70,166 to -€3,315
- Taxes -€14,213
down €14,213 (-98.1%), from €14,481 to €268
- Other operating charges -€1,798
down €1,798 (-66.4%), from €2,707 to €909
- Depreciation +€1,229
up €1,229 (+22.2%), from €5,544 to €6,773
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 | €93,296 | €68,543 | -€24,753 | -26.5% |
| Fixed assets | 21/28 | €36,830 | €31,577 | -€5,253 | -14.3% |
| Tangible fixed assets | 22/27 | €36,830 | €31,577 | -€5,253 | -14.3% |
| Furniture and vehicles | 24 | €19,827 | €14,972 | -€4,856 | -24.5% |
| Other tangible fixed assets | 26 | €17,003 | €16,606 | -€397 | -2.3% |
| Current assets | 29/58 | €56,466 | €36,966 | -€19,500 | -34.5% |
| Amounts receivable within one year | 40/41 | €22,345 | €10,366 | -€11,979 | -53.6% |
| Trade receivables | 40 | €21,327 | €270 | -€21,057 | -98.7% |
| Other amounts receivable | 41 | €1,019 | €10,096 | +€9,078 | +891% |
| Cash at bank and in hand | 54/58 | €33,801 | €26,278 | -€7,523 | -22.3% |
| Deferred charges and accrued income | 490/1 | €320 | €322 | +€2 | +0.6% |
| Total equity and liabilities | 10/49 | €93,296 | €68,543 | -€24,753 | -26.5% |
| Equity | 10/15 | €56,017 | €18,600 | -€37,417 | -66.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €37,417 | €0 | -€37,417 | -100% |
| Distributable reserves | 133 | €37,417 | €0 | -€37,417 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €37,279 | €49,943 | +€12,664 | +34.0% |
| Amounts payable within one year | 42/48 | €37,279 | €48,895 | +€11,616 | +31.2% |
| Trade debts | 44 | €6,421 | €2,887 | -€3,534 | -55.0% |
| Suppliers | 440/4 | €6,421 | €2,887 | -€3,534 | -55.0% |
| Taxes, remuneration and social security | 45 | €7,748 | €2,948 | -€4,800 | -62.0% |
| Taxes | 450/3 | €7,748 | €0 | -€7,748 | -100% |
| Remuneration and social security | 454/9 | - | €2,948 | +€2,948 | |
| Other amounts payable | 47/48 | €23,110 | €43,060 | +€19,950 | +86.3% |
| Accrued charges and deferred income | 492/3 | - | €1,049 | +€1,049 | |
| Non-recurring operating income | 76A | €905 | €0 | -€905 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,544 | €6,773 | +€1,229 | +22.2% |
| Other operating charges | 640/8 | €2,707 | €909 | -€1,798 | -66.4% |
| Gross operating margin | 9900 | €70,166 | -€3,315 | -€73,481 | |
| Operating profit (loss) | 9901 | €61,915 | -€10,998 | -€72,913 | |
| Financial income | 75/76B | €0 | €0 | +€0 | +1,700% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +1,700% |
| Financial charges | 65/66B | €396 | €247 | -€149 | -37.5% |
| Recurring financial charges | 65 | €396 | €247 | -€149 | -37.5% |
| Profit (loss) for the period before taxes | 9903 | €61,519 | -€11,245 | -€72,764 | |
| Income taxes | 67/77 | €14,481 | €268 | -€14,213 | -98.1% |
| Profit (loss) for the period | 9904 | €47,038 | -€11,513 | -€58,551 | |
| Profit (loss) for the period to be appropriated | 9905 | €47,038 | -€11,513 | -€58,551 |
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 29 October 2026 via checked.be.