M Track Experience: 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 Track Experience
Largest movements
- Cash +€132,754
up €132,754 (+124%), from €107,401 to €240,155
mainly Receivables within one year (+€45,597) and Net result for the year (+€44,090)
- Receivables within one year -€45,597
down €45,597 (-100%), from €45,597 to €0
of which Other amounts receivable: -€30,472
- Tangible fixed assets -€20,435
down €20,435 (-22.2%), from €91,939 to €71,504
- Deferred charges and accrued income -€7,314
down €7,314 (-82.4%), from €8,874 to €1,561
- Reserves +€44,090
up €44,090 (+22.5%), from €196,052 to €240,142
- Trade debts +€10,920
up €10,920 (+148%), from €7,357 to €18,278
- Tax, wage and social debts +€4,644
up €4,644 (+11.6%), from €39,908 to €44,551
of which Taxes: +€3,535
- Gross operating margin -€82,442
down €82,442 (-23.8%), from €346,260 to €263,818
- Staff costs +€54,799
up €54,799 (+53.6%), from €102,240 to €157,039
- Taxes -€36,652
down €36,652 (-52.7%), from €69,493 to €32,841
- Depreciation +€10,200
up €10,200 (+99.7%), from €10,235 to €20,435
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €253,811 | €313,220 | +€59,409 | +23.4% |
| Fixed assets | 21/28 | €91,939 | €71,504 | -€20,435 | -22.2% |
| Tangible fixed assets | 22/27 | €91,939 | €71,504 | -€20,435 | -22.2% |
| Furniture and vehicles | 24 | €91,939 | €71,504 | -€20,435 | -22.2% |
| Current assets | 29/58 | €161,872 | €241,715 | +€79,843 | +49.3% |
| Amounts receivable within one year | 40/41 | €45,597 | €0 | -€45,597 | -100% |
| Trade receivables | 40 | €15,125 | €0 | -€15,125 | -100% |
| Other amounts receivable | 41 | €30,472 | €0 | -€30,472 | -100% |
| Cash at bank and in hand | 54/58 | €107,401 | €240,155 | +€132,754 | +124% |
| Deferred charges and accrued income | 490/1 | €8,874 | €1,561 | -€7,314 | -82.4% |
| Total equity and liabilities | 10/49 | €253,811 | €313,220 | +€59,409 | +23.4% |
| Equity | 10/15 | €206,052 | €250,142 | +€44,090 | +21.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €196,052 | €240,142 | +€44,090 | +22.5% |
| Distributable reserves | 133 | €196,052 | €240,142 | +€44,090 | +22.5% |
| Amounts payable | 17/49 | €47,759 | €63,078 | +€15,319 | +32.1% |
| Amounts payable within one year | 42/48 | €47,265 | €62,829 | +€15,564 | +32.9% |
| Trade debts | 44 | €7,357 | €18,278 | +€10,920 | +148% |
| Suppliers | 440/4 | €7,357 | €18,278 | +€10,920 | +148% |
| Taxes, remuneration and social security | 45 | €39,908 | €44,551 | +€4,644 | +11.6% |
| Taxes | 450/3 | €27,455 | €30,990 | +€3,535 | +12.9% |
| Remuneration and social security | 454/9 | €12,453 | €13,561 | +€1,109 | +8.9% |
| Accrued charges and deferred income | 492/3 | €494 | €248 | -€245 | -49.7% |
| Non-recurring operating income | 76A | €54,500 | €0 | -€54,500 | -100% |
| Remuneration, social security and pensions | 62 | €102,240 | €157,039 | +€54,799 | +53.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,235 | €20,435 | +€10,200 | +99.7% |
| Other operating charges | 640/8 | €12,434 | €9,166 | -€3,268 | -26.3% |
| Gross operating margin | 9900 | €346,260 | €263,818 | -€82,442 | -23.8% |
| Operating profit (loss) | 9901 | €221,351 | €77,179 | -€144,173 | -65.1% |
| Financial charges | 65/66B | €425 | €248 | -€177 | -41.7% |
| Recurring financial charges | 65 | €425 | €248 | -€177 | -41.7% |
| Profit (loss) for the period before taxes | 9903 | €220,927 | €76,931 | -€143,996 | -65.2% |
| Income taxes | 67/77 | €69,493 | €32,841 | -€36,652 | -52.7% |
| Profit (loss) for the period | 9904 | €151,434 | €44,090 | -€107,344 | -70.9% |
| Profit (loss) for the period to be appropriated | 9905 | €151,434 | €44,090 | -€107,344 | -70.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.