M17 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.
M17 Consulting
Largest movements
- Tangible fixed assets +€341,015
up €341,015 (+250%), from €136,204 to €477,219
of which Land and buildings: +€338,564
- Receivables within one year -€67,601
down €67,601 (-54.8%), from €123,411 to €55,810
of which Trade receivables: -€66,174
- Cash +€41,342
up €41,342 (+473%), from €8,731 to €50,073
mainly Debts after one year (+€241,620) and Receivables within one year (+€67,601)
- Debts after one year +€241,620
new in 2025: €241,620
- Reserves +€63,773
up €63,773 (+38.5%), from €165,552 to €229,325
- Current portion of long-term debt +€16,529
new in 2025: €16,529
- Tax, wage and social debts -€12,191
down €12,191 (-15.3%), from €79,914 to €67,724
- Profit (loss) carried forward -€7,905
new in 2025: -€7,905
- Depreciation +€35,266
up €35,266 (+737%), from €4,785 to €40,052
- Taxes -€32,327
down €32,327 (-58.7%), from €55,065 to €22,738
- Gross operating margin -€29,724
down €29,724 (-18.7%), from €159,353 to €129,629
- Financial charges +€6,025
up €6,025 (+279%), from €2,160 to €8,185
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 | €269,913 | €583,102 | +€313,189 | +116% |
| Fixed assets | 21/28 | €136,204 | €477,219 | +€341,015 | +250% |
| Tangible fixed assets | 22/27 | €136,204 | €477,219 | +€341,015 | +250% |
| Land and buildings | 22 | €136,010 | €474,574 | +€338,564 | +249% |
| Furniture and vehicles | 24 | €194 | €2,645 | +€2,451 | +1,264% |
| Current assets | 29/58 | €133,709 | €105,883 | -€27,826 | -20.8% |
| Amounts receivable within one year | 40/41 | €123,411 | €55,810 | -€67,601 | -54.8% |
| Trade receivables | 40 | €120,622 | €54,448 | -€66,174 | -54.9% |
| Other amounts receivable | 41 | €2,789 | €1,362 | -€1,427 | -51.2% |
| Cash at bank and in hand | 54/58 | €8,731 | €50,073 | +€41,342 | +473% |
| Deferred charges and accrued income | 490/1 | €1,567 | - | -€1,567 | |
| Total equity and liabilities | 10/49 | €269,913 | €583,102 | +€313,189 | +116% |
| Equity | 10/15 | €185,552 | €241,420 | +€55,869 | +30.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €165,552 | €229,325 | +€63,773 | +38.5% |
| Distributable reserves | 133 | €165,552 | €229,325 | +€63,773 | +38.5% |
| Profit (loss) carried forward | 14 | - | -€7,905 | -€7,905 | |
| Amounts payable | 17/49 | €84,362 | €341,682 | +€257,320 | +305% |
| Amounts payable after more than one year | 17 | - | €241,620 | +€241,620 | |
| Financial debts | 170/4 | - | €241,620 | +€241,620 | |
| Amounts payable within one year | 42/48 | €84,362 | €100,062 | +€15,700 | +18.6% |
| Current portion of amounts payable after more than one year | 42 | - | €16,529 | +€16,529 | |
| Trade debts | 44 | €2,158 | €9,069 | +€6,911 | +320% |
| Suppliers | 440/4 | €2,158 | €9,069 | +€6,911 | +320% |
| Advances received on contracts in progress | 46 | - | €2,182 | +€2,182 | |
| Taxes, remuneration and social security | 45 | €79,914 | €67,724 | -€12,191 | -15.3% |
| Taxes | 450/3 | €79,914 | €67,724 | -€12,191 | -15.3% |
| Other amounts payable | 47/48 | €2,289 | €4,557 | +€2,268 | +99.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,785 | €40,052 | +€35,266 | +737% |
| Other operating charges | 640/8 | €505 | €1,286 | +€781 | +155% |
| Gross operating margin | 9900 | €159,353 | €129,629 | -€29,724 | -18.7% |
| Operating profit (loss) | 9901 | €154,063 | €88,291 | -€65,772 | -42.7% |
| Financial charges | 65/66B | €2,160 | €8,185 | +€6,025 | +279% |
| Recurring financial charges | 65 | €2,160 | €8,185 | +€6,025 | +279% |
| Profit (loss) for the period before taxes | 9903 | €151,903 | €80,107 | -€71,796 | -47.3% |
| Income taxes | 67/77 | €55,065 | €22,738 | -€32,327 | -58.7% |
| Profit (loss) for the period | 9904 | €96,838 | €57,369 | -€39,469 | -40.8% |
| Profit (loss) for the period to be appropriated | 9905 | €96,838 | €57,369 | -€39,469 | -40.8% |
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 19 October 2026 via checked.be.