M3 TRANS: 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 TRANS
Largest movements
- Receivables within one year +€36,455
up €36,455 (+228.6%), from €15,950 to €52,405
of which Trade receivables: +€30,720
- Tangible fixed assets -€13,749
down €13,749 (-100.0%), from €13,753 to €4
- Cash +€5,503
up €5,503 (+37.3%), from €14,755 to €20,258
mainly Trade debts (+€36,327) and Depreciation (+€18,297)
- Trade debts +€36,327
up €36,327 (+2227.2%), from €1,631 to €37,958
- Other debts +€18,000
new in 2025: €18,000
- Profit (loss) carried forward -€17,001
down €17,001, from €15,189 to -€1,812
- Debts after one year -€8,866
down €8,866 (-44.7%), from €19,824 to €10,958
- Depreciation +€18,297
new in 2025: €18,297
- Purchases and services -€13,089
down €13,089 (-17.5%), from €74,885 to €61,796
- Turnover -€8,882
down €8,882 (-8.7%), from €101,612 to €92,730
- Staff costs +€3,119
up €3,119 (+11.2%), from €27,962 to €31,081
- Gross operating margin +€2,462
up €2,462 (+7.9%), from €30,980 to €33,442
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 | €44,518 | €72,727 | +€28,209 | +63.4% |
| Fixed assets | 21/28 | €13,813 | €64 | -€13,749 | -99.5% |
| Tangible fixed assets | 22/27 | €13,753 | €4 | -€13,749 | -100.0% |
| Furniture and vehicles | 24 | €13,753 | €4 | -€13,749 | -100.0% |
| Financial fixed assets | 28 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €30,705 | €72,663 | +€41,958 | +136.6% |
| Amounts receivable within one year | 40/41 | €15,950 | €52,405 | +€36,455 | +228.6% |
| Trade receivables | 40 | €8,648 | €39,369 | +€30,720 | +355.2% |
| Other amounts receivable | 41 | €7,302 | €13,037 | +€5,735 | +78.5% |
| Cash at bank and in hand | 54/58 | €14,755 | €20,258 | +€5,503 | +37.3% |
| Total equity and liabilities | 10/49 | €44,518 | €72,727 | +€28,209 | +63.4% |
| Equity | 10/15 | €22,812 | €5,812 | -€17,001 | -74.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,423 | €1,423 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,423 | €1,423 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,423 | €1,423 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,189 | -€1,812 | -€17,001 | |
| Amounts payable | 17/49 | €21,706 | €66,916 | +€45,210 | +208.3% |
| Amounts payable after more than one year | 17 | €19,824 | €10,958 | -€8,866 | -44.7% |
| Financial debts | 170/4 | €19,824 | €10,958 | -€8,866 | -44.7% |
| Amounts payable within one year | 42/48 | €1,882 | €55,958 | +€54,076 | +2873.9% |
| Trade debts | 44 | €1,631 | €37,958 | +€36,327 | +2227.2% |
| Suppliers | 440/4 | €1,631 | €37,958 | +€36,327 | +2227.2% |
| Taxes, remuneration and social security | 45 | €251 | - | -€251 | |
| Remuneration and social security | 454/9 | €251 | - | -€251 | |
| Other amounts payable | 47/48 | - | €18,000 | +€18,000 | |
| Turnover | 70 | €101,612 | €92,730 | -€8,882 | -8.7% |
| Non-recurring operating income | 76A | €3,046 | - | -€3,046 | |
| Goods, raw materials, services and sundry goods | 60/61 | €74,885 | €61,796 | -€13,089 | -17.5% |
| Remuneration, social security and pensions | 62 | €27,962 | €31,081 | +€3,119 | +11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €18,297 | +€18,297 | |
| Other operating charges | 640/8 | €2,637 | €688 | -€1,950 | -73.9% |
| Gross operating margin | 9900 | €30,980 | €33,442 | +€2,462 | +7.9% |
| Operating profit (loss) | 9901 | €381 | -€16,623 | -€17,003 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €424 | €378 | -€46 | -10.9% |
| Recurring financial charges | 65 | €424 | €378 | -€46 | -10.9% |
| Profit (loss) for the period before taxes | 9903 | -€43 | -€17,001 | -€16,957 | -39044.6% |
| Profit (loss) for the period | 9904 | -€43 | -€17,001 | -€16,957 | -39044.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€43 | -€17,001 | -€16,957 | -39044.6% |
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 6 October 2026 via checked.be.