M2B Energy: 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.
M2B Energy
Largest movements
- Receivables within one year -€106,014
down €106,014 (-26.5%), from €400,607 to €294,593
of which Other amounts receivable: -€116,253
- Stocks and contracts -€49,533
down €49,533 (-65.6%), from €75,457 to €25,925
- Tangible fixed assets +€18,865
up €18,865 (+67.5%), from €27,955 to €46,820
of which Furniture and vehicles: +€29,601
- Financial fixed assets +€9,750
up €9,750 (+325%), from €3,000 to €12,750
- Deferred charges and accrued income -€7,855
down €7,855 (-45.8%), from €17,163 to €9,308
- Profit (loss) carried forward -€54,818
down €54,818 (-38.2%), from €143,387 to €88,569
- Tax, wage and social debts -€32,918
down €32,918 (-46.8%), from €70,291 to €37,373
of which Taxes: -€28,704
- Trade debts -€30,929
down €30,929 (-11.1%), from €278,680 to €247,751
- Other debts -€11,403
down €11,403 (-89.8%), from €12,692 to €1,289
- Debts after one year -€8,177
down €8,177 (-59.8%), from €13,686 to €5,508
- Gross operating margin -€251,116
down €251,116 (-99.6%), from €252,159 to €1,043
- Taxes -€43,758
no longer reported in 2025 (was €43,758)
- Write-downs -€31,807
no longer reported in 2025 (was €31,807)
- Staff costs +€8,485
up €8,485 (+30.2%), from €28,129 to €36,614
- Financial charges +€4,253
up €4,253 (+146%), from €2,903 to €7,156
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 | €530,779 | €399,817 | -€130,961 | -24.7% |
| Fixed assets | 21/28 | €30,955 | €59,570 | +€28,615 | +92.4% |
| Tangible fixed assets | 22/27 | €27,955 | €46,820 | +€18,865 | +67.5% |
| Plant, machinery and equipment | 23 | €1,225 | €853 | -€372 | -30.4% |
| Furniture and vehicles | 24 | €2,572 | €32,173 | +€29,601 | +1,151% |
| Leasing and similar rights | 25 | €24,157 | €13,793 | -€10,364 | -42.9% |
| Financial fixed assets | 28 | €3,000 | €12,750 | +€9,750 | +325% |
| Current assets | 29/58 | €499,824 | €340,248 | -€159,576 | -31.9% |
| Stocks and contracts in progress | 3 | €75,457 | €25,925 | -€49,533 | -65.6% |
| Stocks | 30/36 | €75,457 | €25,925 | -€49,533 | -65.6% |
| Amounts receivable within one year | 40/41 | €400,607 | €294,593 | -€106,014 | -26.5% |
| Trade receivables | 40 | €151,742 | €161,981 | +€10,239 | +6.7% |
| Other amounts receivable | 41 | €248,865 | €132,612 | -€116,253 | -46.7% |
| Cash at bank and in hand | 54/58 | €6,597 | €10,422 | +€3,826 | +58.0% |
| Deferred charges and accrued income | 490/1 | €17,163 | €9,308 | -€7,855 | -45.8% |
| Total equity and liabilities | 10/49 | €530,779 | €399,817 | -€130,961 | -24.7% |
| Equity | 10/15 | €148,387 | €93,569 | -€54,818 | -36.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €143,387 | €88,569 | -€54,818 | -38.2% |
| Amounts payable | 17/49 | €382,392 | €306,249 | -€76,143 | -19.9% |
| Amounts payable after more than one year | 17 | €13,686 | €5,508 | -€8,177 | -59.8% |
| Financial debts | 170/4 | €13,686 | €5,508 | -€8,177 | -59.8% |
| Amounts payable within one year | 42/48 | €368,707 | €300,741 | -€67,966 | -18.4% |
| Current portion of amounts payable after more than one year | 42 | €7,044 | €8,177 | +€1,133 | +16.1% |
| Trade debts | 44 | €278,680 | €247,751 | -€30,929 | -11.1% |
| Suppliers | 440/4 | €278,680 | €247,751 | -€30,929 | -11.1% |
| Advances received on contracts in progress | 46 | - | €6,150 | +€6,150 | |
| Taxes, remuneration and social security | 45 | €70,291 | €37,373 | -€32,918 | -46.8% |
| Taxes | 450/3 | €52,462 | €23,758 | -€28,704 | -54.7% |
| Remuneration and social security | 454/9 | €17,829 | €13,615 | -€4,214 | -23.6% |
| Other amounts payable | 47/48 | €12,692 | €1,289 | -€11,403 | -89.8% |
| Remuneration, social security and pensions | 62 | €28,129 | €36,614 | +€8,485 | +30.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,898 | €12,097 | +€4,199 | +53.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €31,807 | - | -€31,807 | |
| Gross operating margin | 9900 | €252,159 | €1,043 | -€251,116 | -99.6% |
| Operating profit (loss) | 9901 | €184,325 | -€47,668 | -€231,993 | |
| Financial income | 75/76B | €906 | €6 | -€901 | -99.3% |
| Recurring financial income | 75 | €906 | €6 | -€901 | -99.3% |
| Financial charges | 65/66B | €2,903 | €7,156 | +€4,253 | +146% |
| Recurring financial charges | 65 | €2,903 | €7,156 | +€4,253 | +146% |
| Profit (loss) for the period before taxes | 9903 | €182,329 | -€54,818 | -€237,147 | |
| Income taxes | 67/77 | €43,758 | - | -€43,758 | |
| Profit (loss) for the period | 9904 | €138,571 | -€54,818 | -€193,389 | |
| Profit (loss) for the period to be appropriated | 9905 | €138,571 | -€54,818 | -€193,389 |
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 24 October 2026 via checked.be.