M2V: 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.
M2V
Largest movements
- Deferred charges and accrued income +€29,531
up €29,531 (+39702.8%), from €74 to €29,605
- Financial fixed assets -€27,500
down €27,500 (-90.2%), from €30,500 to €3,000
- Receivables within one year -€11,019
down €11,019 (-26.2%), from €42,086 to €31,068
of which Trade receivables: -€13,810
- Cash +€7,841
up €7,841 (+1560.3%), from €503 to €8,343
mainly Investment in fixed assets (net) (+€26,389) and Receivables within one year (+€11,019)
- Tangible fixed assets -€5,282
down €5,282 (-59.7%), from €8,851 to €3,569
of which Furniture and vehicles: -€4,295
- Trade debts +€7,138
up €7,138 (+165.5%), from €4,313 to €11,451
- Profit (loss) carried forward -€6,629
new in 2025: -€6,629
- Tax, wage and social debts -€4,293
down €4,293 (-79.2%), from €5,418 to €1,125
of which Taxes: -€2,693
- Debts after one year -€2,800
down €2,800 (-100.0%), from €2,800 to €0
of which Financial debts: -€2,800
- Current portion of long-term debt -€1,965
down €1,965 (-41.2%), from €4,765 to €2,800
- Financial income +€28,999
up €28,999 (+721357.5%), from €4 to €29,003
- Gross operating margin -€20,765
down €20,765, from €17,926 to -€2,839
- Other operating charges -€3,633
down €3,633 (-87.1%), from €4,169 to €536
- Taxes -€1,946
no longer reported in 2025 (was €1,946)
- Depreciation -€188
down €188 (-2.9%), from €6,580 to €6,393
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 | €86,951 | €78,402 | -€8,549 | -9.8% |
| Fixed assets | 21/28 | €39,351 | €6,569 | -€32,782 | -83.3% |
| Tangible fixed assets | 22/27 | €8,851 | €3,569 | -€5,282 | -59.7% |
| Plant, machinery and equipment | 23 | €986 | €0 | -€986 | -100.0% |
| Furniture and vehicles | 24 | €7,864 | €3,569 | -€4,295 | -54.6% |
| Financial fixed assets | 28 | €30,500 | €3,000 | -€27,500 | -90.2% |
| Current assets | 29/58 | €47,601 | €71,833 | +€24,232 | +50.9% |
| Stocks and contracts in progress | 3 | €4,938 | €2,817 | -€2,121 | -43.0% |
| Stocks | 30/36 | €4,938 | €2,817 | -€2,121 | -43.0% |
| Amounts receivable within one year | 40/41 | €42,086 | €31,068 | -€11,019 | -26.2% |
| Trade receivables | 40 | €25,309 | €11,499 | -€13,810 | -54.6% |
| Other amounts receivable | 41 | €16,777 | €19,569 | +€2,791 | +16.6% |
| Cash at bank and in hand | 54/58 | €503 | €8,343 | +€7,841 | +1560.3% |
| Deferred charges and accrued income | 490/1 | €74 | €29,605 | +€29,531 | +39702.8% |
| Total equity and liabilities | 10/49 | €86,951 | €78,402 | -€8,549 | -9.8% |
| Equity | 10/15 | €69,655 | €63,026 | -€6,629 | -9.5% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €69,654 | €69,654 | = | 0.0% |
| Distributable reserves | 133 | €69,654 | €69,654 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€6,629 | -€6,629 | |
| Amounts payable | 17/49 | €17,296 | €15,376 | -€1,920 | -11.1% |
| Amounts payable after more than one year | 17 | €2,800 | €0 | -€2,800 | -100.0% |
| Financial debts | 170/4 | €2,800 | €0 | -€2,800 | -100.0% |
| Other amounts payable | 178/9 | - | €0 | = | |
| Amounts payable within one year | 42/48 | €14,496 | €15,376 | +€880 | +6.1% |
| Current portion of amounts payable after more than one year | 42 | €4,765 | €2,800 | -€1,965 | -41.2% |
| Trade debts | 44 | €4,313 | €11,451 | +€7,138 | +165.5% |
| Suppliers | 440/4 | €4,313 | €11,451 | +€7,138 | +165.5% |
| Taxes, remuneration and social security | 45 | €5,418 | €1,125 | -€4,293 | -79.2% |
| Taxes | 450/3 | €3,818 | €1,125 | -€2,693 | -70.5% |
| Remuneration and social security | 454/9 | €1,600 | €0 | -€1,600 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,580 | €6,393 | -€188 | -2.9% |
| Other operating charges | 640/8 | €4,169 | €536 | -€3,633 | -87.1% |
| Non-recurring operating charges | 66A | - | €25,701 | +€25,701 | |
| Gross operating margin | 9900 | €17,926 | -€2,839 | -€20,765 | |
| Operating profit (loss) | 9901 | €7,176 | -€35,468 | -€42,644 | |
| Financial income | 75/76B | €4 | €29,003 | +€28,999 | +721357.5% |
| Recurring financial income | 75 | €4 | €29,003 | +€28,999 | +721357.5% |
| Financial charges | 65/66B | €256 | €164 | -€92 | -36.0% |
| Recurring financial charges | 65 | €256 | €164 | -€92 | -36.0% |
| Profit (loss) for the period before taxes | 9903 | €6,924 | -€6,629 | -€13,554 | |
| Income taxes | 67/77 | €1,946 | - | -€1,946 | |
| Profit (loss) for the period | 9904 | €4,978 | -€6,629 | -€11,607 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,978 | -€6,629 | -€11,607 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.