M2MJR: 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.
M2MJR
Largest movements
- Cash +€69,409
up €69,409 (+11.8%), from €587,447 to €656,856
mainly Other debts (+€143,846) and Net result for the year (+€137,556)
- Receivables within one year -€22,913
down €22,913 (-32.6%), from €70,254 to €47,340
of which Other amounts receivable: -€27,826
- Other debts +€143,846
up €143,846 (+17980.7%), from €800 to €144,646
- Reserves -€96,860
down €96,860 (-14.9%), from €648,079 to €551,219
- Gross operating margin +€44,383
up €44,383 (+33.2%), from €133,637 to €178,020
- Financial income -€1,786
down €1,786 (-24.7%), from €7,230 to €5,443
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 | €682,266 | €728,977 | +€46,711 | +6.8% |
| Fixed assets | 21/28 | €23,862 | €22,730 | -€1,132 | -4.7% |
| Tangible fixed assets | 22/27 | €23,862 | €22,730 | -€1,132 | -4.7% |
| Plant, machinery and equipment | 23 | €2,363 | €2,291 | -€72 | -3.0% |
| Furniture and vehicles | 24 | €2,504 | €1,444 | -€1,060 | -42.3% |
| Other tangible fixed assets | 26 | €18,995 | €18,995 | = | 0.0% |
| Current assets | 29/58 | €658,404 | €706,247 | +€47,843 | +7.3% |
| Amounts receivable within one year | 40/41 | €70,254 | €47,340 | -€22,913 | -32.6% |
| Trade receivables | 40 | €27,152 | €32,065 | +€4,913 | +18.1% |
| Other amounts receivable | 41 | €43,101 | €15,275 | -€27,826 | -64.6% |
| Cash at bank and in hand | 54/58 | €587,447 | €656,856 | +€69,409 | +11.8% |
| Deferred charges and accrued income | 490/1 | €704 | €2,051 | +€1,347 | +191.5% |
| Total equity and liabilities | 10/49 | €682,266 | €728,977 | +€46,711 | +6.8% |
| Equity | 10/15 | €660,479 | €563,619 | -€96,860 | -14.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €648,079 | €551,219 | -€96,860 | -14.9% |
| Distributable reserves | 133 | €648,079 | €551,219 | -€96,860 | -14.9% |
| Amounts payable | 17/49 | €21,787 | €165,358 | +€143,571 | +659.0% |
| Amounts payable within one year | 42/48 | €21,787 | €165,358 | +€143,571 | +659.0% |
| Trade debts | 44 | €1,717 | €2,539 | +€822 | +47.9% |
| Suppliers | 440/4 | €1,717 | €2,539 | +€822 | +47.9% |
| Taxes, remuneration and social security | 45 | €19,270 | €18,173 | -€1,097 | -5.7% |
| Taxes | 450/3 | €19,270 | €18,173 | -€1,097 | -5.7% |
| Other amounts payable | 47/48 | €800 | €144,646 | +€143,846 | +17980.7% |
| Non-recurring operating income | 76A | - | €12,387 | +€12,387 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,110 | €2,198 | +€87 | +4.1% |
| Other operating charges | 640/8 | €505 | €842 | +€336 | +66.6% |
| Gross operating margin | 9900 | €133,637 | €178,020 | +€44,383 | +33.2% |
| Operating profit (loss) | 9901 | €131,021 | €174,981 | +€43,960 | +33.6% |
| Financial income | 75/76B | €7,230 | €5,443 | -€1,786 | -24.7% |
| Recurring financial income | 75 | €7,230 | €5,443 | -€1,786 | -24.7% |
| Financial charges | 65/66B | €1,258 | €1,526 | +€268 | +21.3% |
| Recurring financial charges | 65 | €1,258 | €1,526 | +€268 | +21.3% |
| Profit (loss) for the period before taxes | 9903 | €136,993 | €178,899 | +€41,905 | +30.6% |
| Income taxes | 67/77 | €40,046 | €41,343 | +€1,296 | +3.2% |
| Profit (loss) for the period | 9904 | €96,947 | €137,556 | +€40,609 | +41.9% |
| Profit (loss) for the period to be appropriated | 9905 | €96,947 | €137,556 | +€40,609 | +41.9% |
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 10 October 2026 via checked.be.