M3.BE: 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.
M3.BE
Largest movements
- Cash +€483,790
up €483,790 (+161.2%), from €300,031 to €783,821
mainly Net result for the year (+€314,941) and Accrued charges and deferred income (+€201,982)
- Receivables within one year +€137,483
up €137,483 (+42.4%), from €324,292 to €461,775
of which Other amounts receivable: +€70,600
- Profit (loss) carried forward +€314,941
up €314,941 (+163.6%), from €192,494 to €507,435
- Accrued charges and deferred income +€201,982
up €201,982 (+103.3%), from €195,622 to €397,604
- Other debts +€94,484
up €94,484 (+21.9%), from €431,529 to €526,014
- Gross operating margin +€41,430
up €41,430 (+5.9%), from €701,690 to €743,120
- Taxes +€33,679
up €33,679 (+38.0%), from €88,600 to €122,279
- Depreciation -€12,702
down €12,702 (-43.6%), from €29,135 to €16,433
- Other operating charges -€10,269
down €10,269 (-64.5%), from €15,924 to €5,655
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 | €1,022,768 | €1,634,422 | +€611,654 | +59.8% |
| Fixed assets | 21/28 | €389,124 | €380,096 | -€9,027 | -2.3% |
| Tangible fixed assets | 22/27 | €386,959 | €377,931 | -€9,027 | -2.3% |
| Land and buildings | 22 | €375,016 | €364,703 | -€10,313 | -2.8% |
| Plant, machinery and equipment | 23 | €1,385 | €3,261 | +€1,876 | +135.5% |
| Furniture and vehicles | 24 | €10,558 | €9,968 | -€590 | -5.6% |
| Financial fixed assets | 28 | €2,165 | €2,165 | = | 0.0% |
| Current assets | 29/58 | €633,644 | €1,254,325 | +€620,681 | +98.0% |
| Stocks and contracts in progress | 3 | €3,821 | €1,954 | -€1,867 | -48.9% |
| Stocks | 30/36 | €3,821 | €1,954 | -€1,867 | -48.9% |
| Amounts receivable within one year | 40/41 | €324,292 | €461,775 | +€137,483 | +42.4% |
| Trade receivables | 40 | €205,893 | €272,775 | +€66,883 | +32.5% |
| Other amounts receivable | 41 | €118,399 | €188,999 | +€70,600 | +59.6% |
| Cash at bank and in hand | 54/58 | €300,031 | €783,821 | +€483,790 | +161.2% |
| Deferred charges and accrued income | 490/1 | €5,500 | €6,775 | +€1,275 | +23.2% |
| Total equity and liabilities | 10/49 | €1,022,768 | €1,634,422 | +€611,654 | +59.8% |
| Equity | 10/15 | €302,494 | €617,435 | +€314,941 | +104.1% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €10,000 | €10,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €192,494 | €507,435 | +€314,941 | +163.6% |
| Amounts payable | 17/49 | €720,274 | €1,016,987 | +€296,713 | +41.2% |
| Amounts payable after more than one year | 17 | €7,856 | €5,279 | -€2,577 | -32.8% |
| Financial debts | 170/4 | €7,856 | €5,279 | -€2,577 | -32.8% |
| Amounts payable within one year | 42/48 | €516,795 | €614,103 | +€97,308 | +18.8% |
| Current portion of amounts payable after more than one year | 42 | €2,919 | €2,577 | -€342 | -11.7% |
| Financial debts | 43 | €1,406 | - | -€1,406 | |
| Credit institutions | 430/8 | €1,406 | - | -€1,406 | |
| Trade debts | 44 | €39,008 | €53,152 | +€14,143 | +36.3% |
| Suppliers | 440/4 | €39,008 | €53,152 | +€14,143 | +36.3% |
| Taxes, remuneration and social security | 45 | €41,933 | €32,361 | -€9,572 | -22.8% |
| Taxes | 450/3 | €8,474 | €3,370 | -€5,104 | -60.2% |
| Remuneration and social security | 454/9 | €33,459 | €28,991 | -€4,469 | -13.4% |
| Other amounts payable | 47/48 | €431,529 | €526,014 | +€94,484 | +21.9% |
| Accrued charges and deferred income | 492/3 | €195,622 | €397,604 | +€201,982 | +103.3% |
| Remuneration, social security and pensions | 62 | €261,724 | €262,487 | +€763 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,135 | €16,433 | -€12,702 | -43.6% |
| Other operating charges | 640/8 | €15,924 | €5,655 | -€10,269 | -64.5% |
| Gross operating margin | 9900 | €701,690 | €743,120 | +€41,430 | +5.9% |
| Operating profit (loss) | 9901 | €394,907 | €458,545 | +€63,638 | +16.1% |
| Financial income | 75/76B | €5 | €1,206 | +€1,201 | +24210.5% |
| Recurring financial income | 75 | €5 | €1,206 | +€1,201 | +24210.5% |
| Financial charges | 65/66B | €20,070 | €22,531 | +€2,461 | +12.3% |
| Recurring financial charges | 65 | €20,070 | €22,531 | +€2,461 | +12.3% |
| Profit (loss) for the period before taxes | 9903 | €374,842 | €437,220 | +€62,378 | +16.6% |
| Income taxes | 67/77 | €88,600 | €122,279 | +€33,679 | +38.0% |
| Profit (loss) for the period | 9904 | €286,242 | €314,941 | +€28,699 | +10.0% |
| Profit (loss) for the period to be appropriated | 9905 | €286,242 | €314,941 | +€28,699 | +10.0% |
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 2 October 2026 via checked.be.