M-SUPPORT: 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-SUPPORT
Largest movements
- Tangible fixed assets -€11,818
down €11,818 (-3.2%), from €367,063 to €355,245
of which Land and buildings: -€7,055
- Receivables within one year +€4,417
up €4,417 (+75.3%), from €5,864 to €10,281
of which Other amounts receivable: +€7,571
- Debts after one year -€12,240
down €12,240 (-4.5%), from €274,855 to €262,615
- Current portion of long-term debt +€8,814
up €8,814 (+39.4%), from €22,360 to €31,174
- Other debts -€5,446
down €5,446 (-50.3%), from €10,817 to €5,372
- Reserves +€4,100
up €4,100 (+19.2%), from €21,359 to €25,459
of which Distributable reserves: +€4,100
- Gross operating margin -€21,266
down €21,266 (-32.0%), from €66,434 to €45,169
- Taxes -€7,634
down €7,634 (-75.9%), from €10,064 to €2,429
- Depreciation +€4,722
up €4,722 (+26.1%), from €18,067 to €22,789
- Other operating charges +€688
up €688 (+11.3%), from €6,079 to €6,767
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 | €376,662 | €369,417 | -€7,245 | -1.9% |
| Fixed assets | 21/28 | €367,063 | €355,245 | -€11,818 | -3.2% |
| Tangible fixed assets | 22/27 | €367,063 | €355,245 | -€11,818 | -3.2% |
| Land and buildings | 22 | €353,556 | €346,501 | -€7,055 | -2.0% |
| Furniture and vehicles | 24 | €13,507 | €8,744 | -€4,762 | -35.3% |
| Current assets | 29/58 | €9,599 | €14,172 | +€4,572 | +47.6% |
| Amounts receivable within one year | 40/41 | €5,864 | €10,281 | +€4,417 | +75.3% |
| Trade receivables | 40 | €5,864 | €2,710 | -€3,153 | -53.8% |
| Other amounts receivable | 41 | - | €7,571 | +€7,571 | |
| Cash at bank and in hand | 54/58 | €3,736 | €3,891 | +€155 | +4.2% |
| Total equity and liabilities | 10/49 | €376,662 | €369,417 | -€7,245 | -1.9% |
| Equity | 10/15 | €40,424 | €44,561 | +€4,137 | +10.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €21,359 | €25,459 | +€4,100 | +19.2% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €19,500 | €23,600 | +€4,100 | +21.0% |
| Profit (loss) carried forward | 14 | €473 | €510 | +€37 | +7.7% |
| Amounts payable | 17/49 | €336,238 | €324,856 | -€11,382 | -3.4% |
| Amounts payable after more than one year | 17 | €274,855 | €262,615 | -€12,240 | -4.5% |
| Financial debts | 170/4 | €274,855 | €262,615 | -€12,240 | -4.5% |
| Amounts payable within one year | 42/48 | €61,383 | €62,241 | +€859 | +1.4% |
| Current portion of amounts payable after more than one year | 42 | €22,360 | €31,174 | +€8,814 | +39.4% |
| Trade debts | 44 | €16,607 | €14,739 | -€1,868 | -11.2% |
| Suppliers | 440/4 | €16,607 | €14,739 | -€1,868 | -11.2% |
| Taxes, remuneration and social security | 45 | €11,599 | €10,957 | -€642 | -5.5% |
| Taxes | 450/3 | €11,599 | €10,957 | -€642 | -5.5% |
| Other amounts payable | 47/48 | €10,817 | €5,372 | -€5,446 | -50.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,067 | €22,789 | +€4,722 | +26.1% |
| Other operating charges | 640/8 | €6,079 | €6,767 | +€688 | +11.3% |
| Gross operating margin | 9900 | €66,434 | €45,169 | -€21,266 | -32.0% |
| Operating profit (loss) | 9901 | €42,288 | €15,612 | -€26,676 | -63.1% |
| Financial income | 75/76B | - | €75 | +€75 | |
| Recurring financial income | 75 | - | €75 | +€75 | |
| Financial charges | 65/66B | €9,397 | €9,121 | -€275 | -2.9% |
| Recurring financial charges | 65 | €9,397 | €9,121 | -€275 | -2.9% |
| Profit (loss) for the period before taxes | 9903 | €32,891 | €6,566 | -€26,325 | -80.0% |
| Income taxes | 67/77 | €10,064 | €2,429 | -€7,634 | -75.9% |
| Profit (loss) for the period | 9904 | €22,828 | €4,137 | -€18,691 | -81.9% |
| Profit (loss) for the period to be appropriated | 9905 | €22,828 | €4,137 | -€18,691 | -81.9% |
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.