M2ESTATE: 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.
M2ESTATE
Largest movements
- Cash +€79,762
up €79,762 (+30.3%), from €263,293 to €343,055
mainly Other debts (+€131,691) and Net result for the year (+€87,967)
- Tangible fixed assets +€14,479
up €14,479 (+84.2%), from €17,192 to €31,671
of which Furniture and vehicles: +€15,081
- Other debts +€131,691
up €131,691 (+50.6%), from €260,302 to €391,993
- Profit (loss) carried forward -€44,946
no longer reported in 2025 (was €44,946)
- Tax, wage and social debts +€8,760
up €8,760 (+47.6%), from €18,391 to €27,151
of which Taxes: +€8,760
- Gross operating margin +€59,722
up €59,722 (+94.9%), from €62,925 to €122,646
- Taxes +€11,939
up €11,939 (+95.4%), from €12,512 to €24,451
- Depreciation +€4,786
up €4,786 (+129.9%), from €3,683 to €8,469
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 | €345,377 | €442,800 | +€97,424 | +28.2% |
| Fixed assets | 21/28 | €17,192 | €31,671 | +€14,479 | +84.2% |
| Tangible fixed assets | 22/27 | €17,192 | €31,671 | +€14,479 | +84.2% |
| Furniture and vehicles | 24 | €15,993 | €31,074 | +€15,081 | +94.3% |
| Other tangible fixed assets | 26 | €1,199 | €597 | -€602 | -50.2% |
| Current assets | 29/58 | €328,185 | €411,129 | +€82,944 | +25.3% |
| Amounts receivable within one year | 40/41 | €64,892 | €67,868 | +€2,976 | +4.6% |
| Trade receivables | 40 | €28,130 | €67,771 | +€39,640 | +140.9% |
| Other amounts receivable | 41 | €36,761 | €97 | -€36,664 | -99.7% |
| Cash at bank and in hand | 54/58 | €263,293 | €343,055 | +€79,762 | +30.3% |
| Deferred charges and accrued income | 490/1 | - | €207 | +€207 | |
| Total equity and liabilities | 10/49 | €345,377 | €442,800 | +€97,424 | +28.2% |
| Equity | 10/15 | €65,406 | €20,460 | -€44,946 | -68.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €44,946 | - | -€44,946 | |
| Amounts payable | 17/49 | €279,971 | €422,340 | +€142,369 | +50.9% |
| Amounts payable within one year | 42/48 | €279,834 | €420,670 | +€140,836 | +50.3% |
| Trade debts | 44 | €1,142 | €1,526 | +€384 | +33.6% |
| Suppliers | 440/4 | €1,142 | €1,526 | +€384 | +33.6% |
| Taxes, remuneration and social security | 45 | €18,391 | €27,151 | +€8,760 | +47.6% |
| Taxes | 450/3 | €15,384 | €24,144 | +€8,760 | +56.9% |
| Remuneration and social security | 454/9 | €3,007 | €3,007 | = | 0.0% |
| Other amounts payable | 47/48 | €260,302 | €391,993 | +€131,691 | +50.6% |
| Accrued charges and deferred income | 492/3 | €136 | €1,670 | +€1,534 | +1124.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,683 | €8,469 | +€4,786 | +129.9% |
| Other operating charges | 640/8 | €1,534 | €1,593 | +€59 | +3.9% |
| Gross operating margin | 9900 | €62,925 | €122,646 | +€59,722 | +94.9% |
| Operating profit (loss) | 9901 | €57,708 | €112,585 | +€54,877 | +95.1% |
| Financial income | 75/76B | €63 | €6 | -€57 | -90.5% |
| Recurring financial income | 75 | €63 | €6 | -€57 | -90.5% |
| Financial charges | 65/66B | €1,005 | €173 | -€832 | -82.8% |
| Recurring financial charges | 65 | €1,005 | €173 | -€832 | -82.8% |
| Profit (loss) for the period before taxes | 9903 | €56,766 | €112,418 | +€55,652 | +98.0% |
| Income taxes | 67/77 | €12,512 | €24,451 | +€11,939 | +95.4% |
| Profit (loss) for the period | 9904 | €44,254 | €87,967 | +€43,712 | +98.8% |
| Profit (loss) for the period to be appropriated | 9905 | €44,254 | €87,967 | +€43,712 | +98.8% |
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 7 October 2026 via checked.be.