M&T MANAGEMENT: 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&T MANAGEMENT
Largest movements
- Receivables within one year +€36,231
up €36,231 (+113%), from €31,986 to €68,217
of which Trade receivables: +€32,039
- Cash +€23,774
up €23,774 (+185%), from €12,828 to €36,602
mainly Net result for the year (+€56,602) and Tax, wage and social debts (+€22,118)
- Financial fixed assets +€5,000
new in 2025: €5,000
- Tangible fixed assets -€3,826
down €3,826 (-27.7%), from €13,791 to €9,965
of which Plant, machinery and equipment: -€2,214
- Deferred charges and accrued income +€1,729
up €1,729 (+120%), from €1,446 to €3,175
- Profit (loss) carried forward +€36,602
up €36,602 (+144%), from €25,417 to €62,020
- Tax, wage and social debts +€22,118
up €22,118 (+243%), from €9,088 to €31,207
- Trade debts +€1,783
up €1,783 (+115%), from €1,549 to €3,332
- Gross operating margin +€50,717
up €50,717 (+172%), from €29,409 to €80,126
- Taxes +€13,477
up €13,477 (+422%), from €3,194 to €16,671
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 | €64,050 | €125,248 | +€61,198 | +95.5% |
| Fixed assets | 21/28 | €17,790 | €17,254 | -€536 | -3.0% |
| Intangible fixed assets | 21 | €3,999 | €2,289 | -€1,710 | -42.8% |
| Tangible fixed assets | 22/27 | €13,791 | €9,965 | -€3,826 | -27.7% |
| Plant, machinery and equipment | 23 | €8,012 | €5,798 | -€2,214 | -27.6% |
| Furniture and vehicles | 24 | €5,779 | €4,167 | -€1,611 | -27.9% |
| Financial fixed assets | 28 | - | €5,000 | +€5,000 | |
| Current assets | 29/58 | €46,260 | €107,993 | +€61,733 | +133% |
| Amounts receivable within one year | 40/41 | €31,986 | €68,217 | +€36,231 | +113% |
| Trade receivables | 40 | €31,986 | €64,025 | +€32,039 | +100% |
| Other amounts receivable | 41 | €0 | €4,192 | +€4,192 | |
| Cash at bank and in hand | 54/58 | €12,828 | €36,602 | +€23,774 | +185% |
| Deferred charges and accrued income | 490/1 | €1,446 | €3,175 | +€1,729 | +120% |
| Total equity and liabilities | 10/49 | €64,050 | €125,248 | +€61,198 | +95.5% |
| Equity | 10/15 | €27,917 | €64,520 | +€36,602 | +131% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,417 | €62,020 | +€36,602 | +144% |
| Amounts payable | 17/49 | €36,132 | €60,728 | +€24,595 | +68.1% |
| Amounts payable within one year | 42/48 | €36,132 | €60,728 | +€24,595 | +68.1% |
| Trade debts | 44 | €1,549 | €3,332 | +€1,783 | +115% |
| Suppliers | 440/4 | €1,549 | €3,332 | +€1,783 | +115% |
| Taxes, remuneration and social security | 45 | €9,088 | €31,207 | +€22,118 | +243% |
| Taxes | 450/3 | €9,088 | €31,207 | +€22,118 | +243% |
| Other amounts payable | 47/48 | €25,495 | €26,189 | +€694 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,177 | €5,536 | +€359 | +6.9% |
| Other operating charges | 640/8 | €876 | €928 | +€53 | +6.0% |
| Gross operating margin | 9900 | €29,409 | €80,126 | +€50,717 | +172% |
| Operating profit (loss) | 9901 | €23,357 | €73,662 | +€50,306 | +215% |
| Financial income | 75/76B | €1 | €43 | +€42 | +8,298% |
| Recurring financial income | 75 | €1 | €43 | +€42 | +8,298% |
| Financial charges | 65/66B | €290 | €432 | +€142 | +48.9% |
| Recurring financial charges | 65 | €290 | €432 | +€142 | +48.9% |
| Profit (loss) for the period before taxes | 9903 | €23,067 | €73,273 | +€50,206 | +218% |
| Income taxes | 67/77 | €3,194 | €16,671 | +€13,477 | +422% |
| Profit (loss) for the period | 9904 | €19,873 | €56,602 | +€36,730 | +185% |
| Profit (loss) for the period to be appropriated | 9905 | €19,873 | €56,602 | +€36,730 | +185% |
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 28 October 2026 via checked.be.