M² TRAINING & CONSULTING: 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.
M² TRAINING & CONSULTING
Largest movements
- Tangible fixed assets +€271,218
up €271,218 (+410%), from €66,141 to €337,359
of which Land and buildings: +€197,405
- Cash -€257,696
down €257,696 (-90.4%), from €285,171 to €27,475
mainly Investment in fixed assets (net) (-€290,883) and Contributions, distributions and other (-€195,000)
- Receivables within one year -€108,068
down €108,068 (-78.0%), from €138,515 to €30,447
of which Other amounts receivable: -€85,405
- Reserves -€145,366
down €145,366 (-74.4%), from €195,484 to €50,118
- Debts after one year +€18,810
up €18,810 (+7.5%), from €251,756 to €270,566
- Tax, wage and social debts +€12,130
up €12,130 (+242%), from €5,010 to €17,140
- Current portion of long-term debt +€10,799
up €10,799 (+49.7%), from €21,718 to €32,517
- Other debts +€7,655
up €7,655 (+3,190%), from €240 to €7,895
- Depreciation +€7,187
up €7,187 (+57.6%), from €12,478 to €19,665
- Gross operating margin +€3,916
up €3,916 (+4.4%), from €89,716 to €93,632
- Taxes +€3,389
up €3,389 (+25.0%), from €13,558 to €16,947
- Financial income +€2,186
up €2,186 (+2,185%), from €100 to €2,286
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 | €492,807 | €396,835 | -€95,972 | -19.5% |
| Fixed assets | 21/28 | €66,141 | €337,359 | +€271,218 | +410% |
| Tangible fixed assets | 22/27 | €66,141 | €337,359 | +€271,218 | +410% |
| Land and buildings | 22 | €60,772 | €258,176 | +€197,405 | +325% |
| Furniture and vehicles | 24 | €1,947 | €76,623 | +€74,676 | +3,836% |
| Other tangible fixed assets | 26 | €3,423 | €2,560 | -€863 | -25.2% |
| Current assets | 29/58 | €426,666 | €59,476 | -€367,190 | -86.1% |
| Amounts receivable within one year | 40/41 | €138,515 | €30,447 | -€108,068 | -78.0% |
| Trade receivables | 40 | €43,021 | €20,358 | -€22,663 | -52.7% |
| Other amounts receivable | 41 | €95,493 | €10,088 | -€85,405 | -89.4% |
| Cash at bank and in hand | 54/58 | €285,171 | €27,475 | -€257,696 | -90.4% |
| Deferred charges and accrued income | 490/1 | €2,980 | €1,554 | -€1,426 | -47.8% |
| Total equity and liabilities | 10/49 | €492,807 | €396,835 | -€95,972 | -19.5% |
| Equity | 10/15 | €214,084 | €68,718 | -€145,366 | -67.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €195,484 | €50,118 | -€145,366 | -74.4% |
| Distributable reserves | 133 | €195,484 | €50,118 | -€145,366 | -74.4% |
| Amounts payable | 17/49 | €278,723 | €328,117 | +€49,394 | +17.7% |
| Amounts payable after more than one year | 17 | €251,756 | €270,566 | +€18,810 | +7.5% |
| Financial debts | 170/4 | €251,756 | €270,566 | +€18,810 | +7.5% |
| Amounts payable within one year | 42/48 | €26,968 | €57,552 | +€30,584 | +113% |
| Current portion of amounts payable after more than one year | 42 | €21,718 | €32,517 | +€10,799 | +49.7% |
| Taxes, remuneration and social security | 45 | €5,010 | €17,140 | +€12,130 | +242% |
| Taxes | 450/3 | €5,010 | €17,140 | +€12,130 | +242% |
| Other amounts payable | 47/48 | €240 | €7,895 | +€7,655 | +3,190% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,478 | €19,665 | +€7,187 | +57.6% |
| Other operating charges | 640/8 | €2,828 | €2,803 | -€25 | -0.9% |
| Non-recurring operating charges | 66A | €13,460 | - | -€13,460 | |
| Gross operating margin | 9900 | €89,716 | €93,632 | +€3,916 | +4.4% |
| Operating profit (loss) | 9901 | €60,950 | €71,163 | +€10,214 | +16.8% |
| Financial income | 75/76B | €100 | €2,286 | +€2,186 | +2,185% |
| Recurring financial income | 75 | €100 | €2,286 | +€2,186 | +2,185% |
| Financial charges | 65/66B | €6,505 | €6,869 | +€364 | +5.6% |
| Recurring financial charges | 65 | €6,505 | €6,869 | +€364 | +5.6% |
| Profit (loss) for the period before taxes | 9903 | €54,544 | €66,581 | +€12,037 | +22.1% |
| Income taxes | 67/77 | €13,558 | €16,947 | +€3,389 | +25.0% |
| Profit (loss) for the period | 9904 | €40,986 | €49,634 | +€8,648 | +21.1% |
| Profit (loss) for the period to be appropriated | 9905 | €40,986 | €49,634 | +€8,648 | +21.1% |
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 25 October 2026 via checked.be.