M3 PNEUS: 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.
M3 PNEUS
Largest movements
- Cash +€7,127
up €7,127 (+738%), from €966 to €8,093
mainly Net result for the year (+€13,446) and Tax, wage and social debts (+€3,907)
- Tangible fixed assets +€5,985
new in 2025: €5,985
of which Plant, machinery and equipment: +€4,883
- Stocks and contracts +€3,948
up €3,948 (+34.4%), from €11,466 to €15,415
- Profit (loss) carried forward +€13,446
up €13,446 (+98.3%), from -€13,678 to -€233
- Tax, wage and social debts +€3,907
up €3,907 (+470%), from €831 to €4,738
- Trade debts -€1,958
down €1,958 (-85.0%), from €2,304 to €347
- Other debts +€1,666
up €1,666 (+8.3%), from €19,975 to €21,641
- Gross operating margin +€30,299
up €30,299, from -€11,936 to €18,363
- Depreciation +€1,106
new in 2025: €1,106
- Taxes +€887
new in 2025: €887
- Other operating charges +€823
up €823 (+90.6%), from €908 to €1,730
- Financial charges +€480
up €480 (+67.1%), from €714 to €1,194
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
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 | €12,432 | €29,493 | +€17,060 | +137% |
| Fixed assets | 21/28 | - | €5,985 | +€5,985 | |
| Tangible fixed assets | 22/27 | - | €5,985 | +€5,985 | |
| Plant, machinery and equipment | 23 | - | €4,883 | +€4,883 | |
| Furniture and vehicles | 24 | - | €1,103 | +€1,103 | |
| Current assets | 29/58 | €12,432 | €23,507 | +€11,075 | +89.1% |
| Stocks and contracts in progress | 3 | €11,466 | €15,415 | +€3,948 | +34.4% |
| Stocks | 30/36 | €11,466 | €15,415 | +€3,948 | +34.4% |
| Cash at bank and in hand | 54/58 | €966 | €8,093 | +€7,127 | +738% |
| Total equity and liabilities | 10/49 | €12,432 | €29,493 | +€17,060 | +137% |
| Equity | 10/15 | -€10,678 | €2,767 | +€13,446 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,678 | -€233 | +€13,446 | +98.3% |
| Amounts payable | 17/49 | €23,110 | €26,725 | +€3,615 | +15.6% |
| Amounts payable within one year | 42/48 | €23,110 | €26,725 | +€3,615 | +15.6% |
| Trade debts | 44 | €2,304 | €347 | -€1,958 | -85.0% |
| Suppliers | 440/4 | €2,304 | €347 | -€1,958 | -85.0% |
| Taxes, remuneration and social security | 45 | €831 | €4,738 | +€3,907 | +470% |
| Taxes | 450/3 | €831 | €4,738 | +€3,907 | +470% |
| Other amounts payable | 47/48 | €19,975 | €21,641 | +€1,666 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,106 | +€1,106 | |
| Other operating charges | 640/8 | €908 | €1,730 | +€823 | +90.6% |
| Non-recurring operating charges | 66A | €120 | - | -€120 | |
| Gross operating margin | 9900 | -€11,936 | €18,363 | +€30,299 | |
| Operating profit (loss) | 9901 | -€12,964 | €15,526 | +€28,490 | |
| Financial charges | 65/66B | €714 | €1,194 | +€480 | +67.1% |
| Recurring financial charges | 65 | €714 | €1,194 | +€480 | +67.1% |
| Profit (loss) for the period before taxes | 9903 | -€13,678 | €14,332 | +€28,011 | |
| Income taxes | 67/77 | - | €887 | +€887 | |
| Profit (loss) for the period | 9904 | -€13,678 | €13,446 | +€27,124 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,678 | €13,446 | +€27,124 |
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 23 October 2026 via checked.be.