M TAPE: 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 TAPE
Largest movements
- Receivables within one year +€126,550
up €126,550 (+240%), from €52,625 to €179,175
of which Trade receivables: +€102,350
- Reserves +€502,410
up €502,410 (+29.6%), from €1.7m to €2.2m
of which Distributable reserves: +€502,410
- Debts after one year -€262,434
down €262,434 (-18.8%), from €1.4m to €1.1m
of which Other amounts payable: -€184,295
- Other debts -€83,174
down €83,174 (-37.8%), from €219,769 to €136,595
- Financial income +€468,840
up €468,840 (+3,610%), from €12,987 to €481,827
- Taxes +€48,324
up €48,324 (+120%), from €40,346 to €88,670
- Depreciation +€14,315
up €14,315 (+45.9%), from €31,175 to €45,489
- Gross operating margin +€7,842
up €7,842 (+4.1%), from €192,356 to €200,198
- Other operating charges +€5,881
up €5,881 (+48.2%), from €12,200 to €18,081
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,448,113 | €3,606,151 | +€158,038 | +4.6% |
| Fixed assets | 21/28 | €1,344,064 | €1,378,575 | +€34,511 | +2.6% |
| Tangible fixed assets | 22/27 | €807,564 | €842,075 | +€34,511 | +4.3% |
| Land and buildings | 22 | €709,077 | €764,635 | +€55,557 | +7.8% |
| Furniture and vehicles | 24 | €98,487 | €77,440 | -€21,047 | -21.4% |
| Financial fixed assets | 28 | €536,500 | €536,500 | = | 0.0% |
| Current assets | 29/58 | €2,104,049 | €2,227,576 | +€123,527 | +5.9% |
| Amounts receivable after more than one year | 29 | €1,001,551 | €970,615 | -€30,936 | -3.1% |
| Other amounts receivable | 291 | €1,001,551 | €970,615 | -€30,936 | -3.1% |
| Amounts receivable within one year | 40/41 | €52,625 | €179,175 | +€126,550 | +240% |
| Trade receivables | 40 | - | €102,350 | +€102,350 | |
| Other amounts receivable | 41 | €52,625 | €76,825 | +€24,200 | +46.0% |
| Current investments | 50/53 | €1,009,000 | €1,036,965 | +€27,965 | +2.8% |
| Cash at bank and in hand | 54/58 | €39,370 | €39,161 | -€209 | -0.5% |
| Deferred charges and accrued income | 490/1 | €1,503 | €1,660 | +€157 | +10.5% |
| Total equity and liabilities | 10/49 | €3,448,113 | €3,606,151 | +€158,038 | +4.6% |
| Equity | 10/15 | €1,704,649 | €2,207,059 | +€502,410 | +29.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,698,449 | €2,200,859 | +€502,410 | +29.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,696,589 | €2,198,999 | +€502,410 | +29.6% |
| Amounts payable | 17/49 | €1,743,464 | €1,399,092 | -€344,372 | -19.8% |
| Amounts payable after more than one year | 17 | €1,392,290 | €1,129,856 | -€262,434 | -18.8% |
| Financial debts | 170/4 | €461,392 | €383,253 | -€78,139 | -16.9% |
| Other amounts payable | 178/9 | €930,898 | €746,602 | -€184,295 | -19.8% |
| Amounts payable within one year | 42/48 | €351,174 | €269,236 | -€81,938 | -23.3% |
| Current portion of amounts payable after more than one year | 42 | €80,884 | €78,139 | -€2,745 | -3.4% |
| Trade debts | 44 | €3,000 | €3,311 | +€311 | +10.4% |
| Suppliers | 440/4 | €3,000 | €3,311 | +€311 | +10.4% |
| Taxes, remuneration and social security | 45 | €47,521 | €51,191 | +€3,670 | +7.7% |
| Taxes | 450/3 | €47,521 | €51,191 | +€3,670 | +7.7% |
| Other amounts payable | 47/48 | €219,769 | €136,595 | -€83,174 | -37.8% |
| Non-recurring operating income | 76A | €38,355 | - | -€38,355 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,175 | €45,489 | +€14,315 | +45.9% |
| Other operating charges | 640/8 | €12,200 | €18,081 | +€5,881 | +48.2% |
| Gross operating margin | 9900 | €192,356 | €200,198 | +€7,842 | +4.1% |
| Operating profit (loss) | 9901 | €148,981 | €136,628 | -€12,353 | -8.3% |
| Financial income | 75/76B | €12,987 | €481,827 | +€468,840 | +3,610% |
| Recurring financial income | 75 | €12,987 | €481,827 | +€468,840 | +3,610% |
| Financial charges | 65/66B | €25,266 | €27,376 | +€2,110 | +8.4% |
| Recurring financial charges | 65 | €25,266 | €27,376 | +€2,110 | +8.4% |
| Profit (loss) for the period before taxes | 9903 | €136,703 | €591,080 | +€454,377 | +332% |
| Income taxes | 67/77 | €40,346 | €88,670 | +€48,324 | +120% |
| Profit (loss) for the period | 9904 | €96,357 | €502,410 | +€406,053 | +421% |
| Profit (loss) for the period to be appropriated | 9905 | €96,357 | €502,410 | +€406,053 | +421% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.