M2A: 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.
M2A
Largest movements
- Cash -€12,574
down €12,574 (-83.3%), from €15,092 to €2,518
mainly Receivables within one year (-€10,056) and Trade debts (-€9,842)
- Receivables within one year +€10,056
up €10,056 (+33.2%), from €30,246 to €40,302
- Deferred charges and accrued income -€1,082
no longer reported in 2025 (was €1,082)
- Trade debts -€9,842
down €9,842 (-49.2%), from €20,024 to €10,182
- Advances received +€8,182
up €8,182 (+864%), from €947 to €9,129
- Other debts +€6,309
up €6,309 (+44.3%), from €14,243 to €20,552
- Tax, wage and social debts -€5,902
down €5,902 (-59.9%), from €9,859 to €3,958
of which Taxes: -€3,977
- Profit (loss) carried forward -€2,478
down €2,478, from €1,074 to -€1,404
- Staff costs -€24,485
down €24,485 (-76.5%), from €31,990 to €7,505
- Gross operating margin -€7,679
down €7,679 (-43.1%), from €17,804 to €10,125
- Financial charges +€2,477
up €2,477 (+314%), from €790 to €3,267
- Other operating charges -€395
down €395 (-32.2%), from €1,227 to €832
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 | €48,148 | €44,416 | -€3,731 | -7.7% |
| Fixed assets | 21/28 | €1,728 | €1,596 | -€131 | -7.6% |
| Tangible fixed assets | 22/27 | €1,365 | €1,233 | -€131 | -9.6% |
| Plant, machinery and equipment | 23 | - | €245 | +€245 | |
| Furniture and vehicles | 24 | €1,365 | €988 | -€376 | -27.6% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €46,420 | €42,820 | -€3,600 | -7.8% |
| Amounts receivable within one year | 40/41 | €30,246 | €40,302 | +€10,056 | +33.2% |
| Trade receivables | 40 | €30,246 | €40,302 | +€10,056 | +33.2% |
| Cash at bank and in hand | 54/58 | €15,092 | €2,518 | -€12,574 | -83.3% |
| Deferred charges and accrued income | 490/1 | €1,082 | - | -€1,082 | |
| Total equity and liabilities | 10/49 | €48,148 | €44,416 | -€3,731 | -7.7% |
| Equity | 10/15 | €3,074 | €596 | -€2,478 | -80.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,074 | -€1,404 | -€2,478 | |
| Amounts payable | 17/49 | €45,073 | €43,820 | -€1,253 | -2.8% |
| Amounts payable within one year | 42/48 | €45,073 | €43,820 | -€1,253 | -2.8% |
| Trade debts | 44 | €20,024 | €10,182 | -€9,842 | -49.2% |
| Suppliers | 440/4 | €20,024 | €10,182 | -€9,842 | -49.2% |
| Advances received on contracts in progress | 46 | €947 | €9,129 | +€8,182 | +864% |
| Taxes, remuneration and social security | 45 | €9,859 | €3,958 | -€5,902 | -59.9% |
| Taxes | 450/3 | €7,344 | €3,367 | -€3,977 | -54.2% |
| Remuneration and social security | 454/9 | €2,515 | €591 | -€1,924 | -76.5% |
| Other amounts payable | 47/48 | €14,243 | €20,552 | +€6,309 | +44.3% |
| Non-recurring operating income | 76A | - | €90 | +€90 | |
| Remuneration, social security and pensions | 62 | €31,990 | €7,505 | -€24,485 | -76.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €689 | €817 | +€128 | +18.6% |
| Other operating charges | 640/8 | €1,227 | €832 | -€395 | -32.2% |
| Gross operating margin | 9900 | €17,804 | €10,125 | -€7,679 | -43.1% |
| Operating profit (loss) | 9901 | -€16,102 | €971 | +€17,073 | |
| Financial income | 75/76B | €0 | €2 | +€2 | +19,200% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +19,200% |
| Financial charges | 65/66B | €790 | €3,267 | +€2,477 | +314% |
| Recurring financial charges | 65 | €790 | €3,267 | +€2,477 | +314% |
| Profit (loss) for the period before taxes | 9903 | -€16,892 | -€2,294 | +€14,598 | +86.4% |
| Income taxes | 67/77 | €128 | €185 | +€57 | +44.2% |
| Profit (loss) for the period | 9904 | -€17,020 | -€2,478 | +€14,541 | +85.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,020 | -€2,478 | +€14,541 | +85.4% |
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 16 October 2026 via checked.be.