M-Powerment: 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-Powerment
Largest movements
- Cash -€51,823
down €51,823 (-50.4%), from €102,813 to €50,990
mainly Accrued charges and deferred income (-€111,115) and Investment in fixed assets (net) (-€86,196)
- Receivables within one year -€36,721
down €36,721 (-11.9%), from €307,560 to €270,839
of which Trade receivables: -€42,063
- Stocks and contracts +€27,933
up €27,933 (+11.4%), from €245,328 to €273,261
- Accrued charges and deferred income -€111,115
down €111,115 (-68.3%), from €162,577 to €51,462
- Reserves +€72,891
up €72,891 (+23.2%), from €313,944 to €386,835
of which Distributable reserves: +€80,650
- Trade debts -€61,715
down €61,715 (-29.3%), from €210,806 to €149,092
of which Suppliers: -€61,715
- Tax, wage and social debts +€61,619
up €61,619 (+108%), from €57,173 to €118,792
of which Taxes: +€61,167
- Other debts -€59,015
down €59,015 (-28.3%), from €208,430 to €149,415
- Gross operating margin +€107,708
up €107,708 (+79.0%), from €136,384 to €244,092
- Taxes +€37,924
up €37,924 (+286%), from €13,268 to €51,192
- Other operating charges -€30,343
down €30,343 (-91.3%), from €33,219 to €2,876
- Depreciation +€19,675
up €19,675 (+34.0%), from €57,949 to €77,623
- Staff costs +€9,348
up €9,348 (+42.4%), from €22,043 to €31,391
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 | €1,172,281 | €1,120,233 | -€52,049 | -4.4% |
| Fixed assets | 21/28 | €508,841 | €517,414 | +€8,573 | +1.7% |
| Intangible fixed assets | 21 | €1,923 | €2,787 | +€865 | +45.0% |
| Tangible fixed assets | 22/27 | €475,418 | €483,127 | +€7,709 | +1.6% |
| Land and buildings | 22 | €440,371 | €398,591 | -€41,780 | -9.5% |
| Plant, machinery and equipment | 23 | €1,611 | €13,602 | +€11,991 | +744% |
| Furniture and vehicles | 24 | €18,721 | €59,660 | +€40,939 | +219% |
| Other tangible fixed assets | 26 | €14,715 | €11,273 | -€3,441 | -23.4% |
| Financial fixed assets | 28 | €31,500 | €31,500 | = | 0.0% |
| Current assets | 29/58 | €663,440 | €602,819 | -€60,622 | -9.1% |
| Stocks and contracts in progress | 3 | €245,328 | €273,261 | +€27,933 | +11.4% |
| Stocks | 30/36 | €245,328 | €273,261 | +€27,933 | +11.4% |
| Amounts receivable within one year | 40/41 | €307,560 | €270,839 | -€36,721 | -11.9% |
| Trade receivables | 40 | €305,679 | €263,616 | -€42,063 | -13.8% |
| Other amounts receivable | 41 | €1,880 | €7,222 | +€5,342 | +284% |
| Cash at bank and in hand | 54/58 | €102,813 | €50,990 | -€51,823 | -50.4% |
| Deferred charges and accrued income | 490/1 | €7,740 | €7,729 | -€11 | -0.1% |
| Total equity and liabilities | 10/49 | €1,172,281 | €1,120,233 | -€52,049 | -4.4% |
| Equity | 10/15 | €332,544 | €405,435 | +€72,891 | +21.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €313,944 | €386,835 | +€72,891 | +23.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €31,036 | €23,277 | -€7,759 | -25.0% |
| Distributable reserves | 133 | €282,908 | €363,558 | +€80,650 | +28.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €12,676 | €9,507 | -€3,169 | -25.0% |
| Deferred taxes | 168 | €12,676 | €9,507 | -€3,169 | -25.0% |
| Amounts payable | 17/49 | €827,061 | €705,290 | -€121,771 | -14.7% |
| Amounts payable after more than one year | 17 | €56,849 | €83,767 | +€26,917 | +47.3% |
| Financial debts | 170/4 | €56,849 | €83,767 | +€26,917 | +47.3% |
| Amounts payable within one year | 42/48 | €607,635 | €570,061 | -€37,574 | -6.2% |
| Current portion of amounts payable after more than one year | 42 | €28,275 | €49,812 | +€21,537 | +76.2% |
| Financial debts | 43 | €102,950 | €102,950 | = | 0.0% |
| Credit institutions | 430/8 | €102,950 | €102,950 | = | 0.0% |
| Trade debts | 44 | €210,806 | €149,092 | -€61,715 | -29.3% |
| Suppliers | 440/4 | €210,806 | €149,092 | -€61,715 | -29.3% |
| Bills of exchange payable | 441 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €57,173 | €118,792 | +€61,619 | +108% |
| Taxes | 450/3 | €55,103 | €116,270 | +€61,167 | +111% |
| Remuneration and social security | 454/9 | €2,070 | €2,522 | +€452 | +21.8% |
| Other amounts payable | 47/48 | €208,430 | €149,415 | -€59,015 | -28.3% |
| Accrued charges and deferred income | 492/3 | €162,577 | €51,462 | -€111,115 | -68.3% |
| Remuneration, social security and pensions | 62 | €22,043 | €31,391 | +€9,348 | +42.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,949 | €77,623 | +€19,675 | +34.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€5,942 | €0 | +€5,942 | |
| Other operating charges | 640/8 | €33,219 | €2,876 | -€30,343 | -91.3% |
| Gross operating margin | 9900 | €136,384 | €244,092 | +€107,708 | +79.0% |
| Operating profit (loss) | 9901 | €29,115 | €132,202 | +€103,087 | +354% |
| Financial income | 75/76B | €186 | €96 | -€90 | -48.6% |
| Recurring financial income | 75 | €186 | €96 | -€90 | -48.6% |
| Financial charges | 65/66B | €10,958 | €11,384 | +€425 | +3.9% |
| Recurring financial charges | 65 | €10,958 | €11,384 | +€425 | +3.9% |
| Profit (loss) for the period before taxes | 9903 | €18,343 | €120,914 | +€102,572 | +559% |
| Transfer from deferred taxes | 780 | €3,464 | €3,169 | -€295 | -8.5% |
| Income taxes | 67/77 | €13,268 | €51,192 | +€37,924 | +286% |
| Profit (loss) for the period | 9904 | €8,538 | €72,891 | +€64,353 | +754% |
| Transfer from tax-exempt reserves | 789 | €8,481 | €7,759 | -€722 | -8.5% |
| Profit (loss) for the period to be appropriated | 9905 | €17,019 | €80,650 | +€63,631 | +374% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.