M29M: 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.
M29M
Largest movements
- Cash +€2,323
up €2,323 (+107.7%), from €2,157 to €4,481
mainly Tax, wage and social debts (+€1,280) and Other debts (+€1,090)
- Receivables within one year +€194
up €194 (+5.2%), from €3,729 to €3,923
of which Trade receivables: +€360
- Tax, wage and social debts +€1,280
up €1,280 (+265.7%), from €482 to €1,761
- Other debts +€1,090
up €1,090 (+199.3%), from €547 to €1,637
- Profit (loss) carried forward +€897
up €897 (+87.6%), from €1,024 to €1,921
- Trade debts -€750
down €750 (-19.6%), from €3,834 to €3,084
- Purchases and services -€10,226
down €10,226 (-24.4%), from €41,948 to €31,722
- Turnover -€9,544
down €9,544 (-21.8%), from €43,843 to €34,299
- Taxes +€798
up €798 (+165.7%), from €482 to €1,280
- Gross operating margin +€682
up €682 (+36.0%), from €1,895 to €2,577
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.
Cash bridge derived
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 | €5,886 | €8,404 | +€2,517 | +42.8% |
| Current assets | 29/58 | €5,886 | €8,404 | +€2,517 | +42.8% |
| Amounts receivable within one year | 40/41 | €3,729 | €3,923 | +€194 | +5.2% |
| Trade receivables | 40 | €1,475 | €1,835 | +€360 | +24.4% |
| Other amounts receivable | 41 | €2,254 | €2,088 | -€166 | -7.4% |
| Cash at bank and in hand | 54/58 | €2,157 | €4,481 | +€2,323 | +107.7% |
| Total equity and liabilities | 10/49 | €5,886 | €8,404 | +€2,517 | +42.8% |
| Equity | 10/15 | €1,024 | €1,921 | +€897 | +87.6% |
| Profit (loss) carried forward | 14 | €1,024 | €1,921 | +€897 | +87.6% |
| Amounts payable | 17/49 | €4,862 | €6,482 | +€1,620 | +33.3% |
| Amounts payable within one year | 42/48 | €4,862 | €6,482 | +€1,620 | +33.3% |
| Trade debts | 44 | €3,834 | €3,084 | -€750 | -19.6% |
| Suppliers | 440/4 | €3,834 | €3,084 | -€750 | -19.6% |
| Taxes, remuneration and social security | 45 | €482 | €1,761 | +€1,280 | +265.7% |
| Taxes | 450/3 | €482 | €1,761 | +€1,280 | +265.7% |
| Other amounts payable | 47/48 | €547 | €1,637 | +€1,090 | +199.3% |
| Turnover | 70 | €43,843 | €34,299 | -€9,544 | -21.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €41,948 | €31,722 | -€10,226 | -24.4% |
| Other operating charges | 640/8 | €384 | €400 | +€15 | +4.0% |
| Gross operating margin | 9900 | €1,895 | €2,577 | +€682 | +36.0% |
| Operating profit (loss) | 9901 | €1,511 | €2,177 | +€667 | +44.1% |
| Financial charges | 65/66B | €5 | - | -€5 | |
| Recurring financial charges | 65 | €5 | - | -€5 | |
| Profit (loss) for the period before taxes | 9903 | €1,506 | €2,177 | +€672 | +44.6% |
| Income taxes | 67/77 | €482 | €1,280 | +€798 | +165.7% |
| Profit (loss) for the period | 9904 | €1,024 | €897 | -€126 | -12.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,024 | €897 | -€126 | -12.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.