M2 SURGERY: what changed
Two fiscal 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 SURGERY
Largest movements
- Cash +€91,813
up €91,813 (+30.0%), from €305,925 to €397,738
mainly Net result for the year (+€196,119) and Depreciation (+€40,822)
- Tangible fixed assets +€55,087
up €55,087 (+5.5%), from €1.0m to €1.1m
of which Plant, machinery and equipment: +€73,957
- Receivables within one year +€54,278
up €54,278 (+917.6%), from €5,915 to €60,193
of which Trade receivables: +€53,997
- Deferred charges and accrued income -€30,715
down €30,715 (-81.0%), from €37,924 to €7,210
- Profit (loss) carried forward +€142,764
up €142,764 (+49.1%), from €290,983 to €433,747
- Debts after one year -€74,775
down €74,775 (-11.0%), from €681,367 to €606,593
- Reserves +€50,000
up €50,000 (+17.3%), from €289,837 to €339,837
- Other debts +€32,814
up €32,814 (+437.2%), from €7,506 to €40,319
- Provisions +€26,600
new in 2024: €26,600
- Gross operating margin +€82,345
up €82,345 (+23.8%), from €345,566 to €427,911
- Financial charges +€61,419
up €61,419 (+1022.9%), from €6,005 to €67,423
- Provisions +€26,600
new in 2024: €26,600
- Taxes +€7,703
up €7,703 (+9.7%), from €79,585 to €87,288
- Depreciation +€6,916
up €6,916 (+20.4%), from €33,907 to €40,822
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.
Cash bridge derived
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 | €1,359,807 | €1,530,270 | +€170,463 | +12.5% |
| Fixed assets | 21/28 | €1,010,043 | €1,065,130 | +€55,087 | +5.5% |
| Tangible fixed assets | 22/27 | €1,010,043 | €1,065,130 | +€55,087 | +5.5% |
| Land and buildings | 22 | €852,990 | €842,559 | -€10,431 | -1.2% |
| Plant, machinery and equipment | 23 | €130,771 | €204,728 | +€73,957 | +56.6% |
| Furniture and vehicles | 24 | €26,282 | €17,842 | -€8,439 | -32.1% |
| Current assets | 29/58 | €349,764 | €465,141 | +€115,376 | +33.0% |
| Amounts receivable within one year | 40/41 | €5,915 | €60,193 | +€54,278 | +917.6% |
| Trade receivables | 40 | €5,500 | €59,497 | +€53,997 | +981.8% |
| Other amounts receivable | 41 | €415 | €696 | +€281 | +67.6% |
| Cash at bank and in hand | 54/58 | €305,925 | €397,738 | +€91,813 | +30.0% |
| Deferred charges and accrued income | 490/1 | €37,924 | €7,210 | -€30,715 | -81.0% |
| Total equity and liabilities | 10/49 | €1,359,807 | €1,530,270 | +€170,463 | +12.5% |
| Equity | 10/15 | €584,820 | €777,584 | +€192,764 | +33.0% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €289,837 | €339,837 | +€50,000 | +17.3% |
| Distributable reserves | 133 | €289,837 | €339,837 | +€50,000 | +17.3% |
| Profit (loss) carried forward | 14 | €290,983 | €433,747 | +€142,764 | +49.1% |
| Provisions and deferred taxes | 16 | - | €26,600 | +€26,600 | |
| Provisions for liabilities and charges | 160/5 | - | €26,600 | +€26,600 | |
| Environmental obligations | 163 | - | €26,600 | +€26,600 | |
| Amounts payable | 17/49 | €774,987 | €726,086 | -€48,901 | -6.3% |
| Amounts payable after more than one year | 17 | €681,367 | €606,593 | -€74,775 | -11.0% |
| Financial debts | 170/4 | €681,367 | €606,593 | -€74,775 | -11.0% |
| Amounts payable within one year | 42/48 | €93,620 | €119,494 | +€25,874 | +27.6% |
| Current portion of amounts payable after more than one year | 42 | €71,020 | €73,368 | +€2,348 | +3.3% |
| Trade debts | 44 | €15,094 | €5,807 | -€9,287 | -61.5% |
| Suppliers | 440/4 | €15,094 | €5,807 | -€9,287 | -61.5% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €7,506 | €40,319 | +€32,814 | +437.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,907 | €40,822 | +€6,916 | +20.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €26,600 | +€26,600 | |
| Other operating charges | 640/8 | €7,458 | €10,430 | +€2,971 | +39.8% |
| Gross operating margin | 9900 | €345,566 | €427,911 | +€82,345 | +23.8% |
| Operating profit (loss) | 9901 | €304,201 | €350,059 | +€45,858 | +15.1% |
| Financial income | 75/76B | - | €772 | +€772 | |
| Recurring financial income | 75 | - | €772 | +€772 | |
| Financial charges | 65/66B | €6,005 | €67,423 | +€61,419 | +1022.9% |
| Recurring financial charges | 65 | €6,005 | €67,423 | +€61,419 | +1022.9% |
| Profit (loss) for the period before taxes | 9903 | €298,196 | €283,407 | -€14,789 | -5.0% |
| Income taxes | 67/77 | €79,585 | €87,288 | +€7,703 | +9.7% |
| Profit (loss) for the period | 9904 | €218,612 | €196,119 | -€22,493 | -10.3% |
| Profit (loss) for the period to be appropriated | 9905 | €218,612 | €196,119 | -€22,493 | -10.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.