M2O: 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.
M2O
Largest movements
- Deferred charges and accrued income +€4,611
up €4,611 (+25.0%), from €18,457 to €23,068
- Reserves +€316,325
up €316,325 (+51,042%), from €620 to €316,945
of which Distributable reserves: +€316,325
- Profit (loss) carried forward -€313,669
down €313,669, from €155,108 to -€158,561
- Other operating charges +€1,119
new in 2025: €1,119
- Gross operating margin -€289
down €289 (-60.7%), from -€476 to -€765
- Financial charges +€70
new in 2025: €70
- Financial income -€13
down €13 (-0.3%), from €4,624 to €4,611
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €169,478 | €174,089 | +€4,611 | +2.7% |
| Fixed assets | 21/28 | €297 | €297 | = | 0.0% |
| Financial fixed assets | 28 | €297 | €297 | = | 0.0% |
| Current assets | 29/58 | €169,180 | €173,791 | +€4,611 | +2.7% |
| Amounts receivable within one year | 40/41 | €150,724 | €150,724 | = | 0.0% |
| Other amounts receivable | 41 | €150,724 | €150,724 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €18,457 | €23,068 | +€4,611 | +25.0% |
| Total equity and liabilities | 10/49 | €169,478 | €174,089 | +€4,611 | +2.7% |
| Equity | 10/15 | €161,925 | €164,581 | +€2,656 | +1.6% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Capital | 10 | €6,197 | €6,197 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Uncalled capital | 101 | €12,395 | €12,395 | = | 0.0% |
| Reserves | 13 | €620 | €316,945 | +€316,325 | +51,042% |
| Non-distributable reserves | 130/1 | €620 | €620 | = | 0.0% |
| Legal reserve | 130 | €620 | €620 | = | 0.0% |
| Distributable reserves | 133 | - | €316,325 | +€316,325 | |
| Profit (loss) carried forward | 14 | €155,108 | -€158,561 | -€313,669 | |
| Amounts payable | 17/49 | €7,553 | €9,507 | +€1,955 | +25.9% |
| Amounts payable within one year | 42/48 | €7,553 | €9,507 | +€1,955 | +25.9% |
| Trade debts | 44 | €412 | €700 | +€287 | +69.6% |
| Suppliers | 440/4 | €412 | €700 | +€287 | +69.6% |
| Taxes, remuneration and social security | 45 | €1,218 | €1,218 | = | 0.0% |
| Taxes | 450/3 | €1,218 | €1,218 | = | 0.0% |
| Other amounts payable | 47/48 | €5,922 | €7,589 | +€1,667 | +28.2% |
| Other operating charges | 640/8 | - | €1,119 | +€1,119 | |
| Gross operating margin | 9900 | -€476 | -€765 | -€289 | -60.7% |
| Operating profit (loss) | 9901 | -€476 | -€1,885 | -€1,408 | -296% |
| Financial income | 75/76B | €4,624 | €4,611 | -€13 | -0.3% |
| Recurring financial income | 75 | €4,624 | €4,611 | -€13 | -0.3% |
| Financial charges | 65/66B | - | €70 | +€70 | |
| Recurring financial charges | 65 | - | €70 | +€70 | |
| Profit (loss) for the period before taxes | 9903 | €4,147 | €2,656 | -€1,491 | -36.0% |
| Profit (loss) for the period | 9904 | €4,147 | €2,656 | -€1,491 | -36.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,147 | €2,656 | -€1,491 | -36.0% |
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 14 October 2026 via checked.be.