M360: 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.
M360
Largest movements
- Tangible fixed assets -€8,154
no longer reported in 2025 (was €8,154)
of which Furniture and vehicles: -€7,632
- Cash +€4,429
up €4,429 (+30.9%), from €14,352 to €18,781
mainly Investment in fixed assets (net) (+€6,623) and Other debts (+€3,962)
- Receivables within one year -€2,675
down €2,675 (-35.7%), from €7,500 to €4,825
- Tax, wage and social debts -€4,934
down €4,934 (-45.7%), from €10,793 to €5,859
- Profit (loss) carried forward -€4,379
down €4,379 (-11.9%), from €36,666 to €32,287
- Other debts +€3,962
up €3,962 (+372%), from €1,066 to €5,028
- Debts after one year -€1,970
down €1,970 (-28.6%), from €6,889 to €4,919
- Trade debts +€671
up €671 (+56.7%), from €1,184 to €1,855
- Financial income -€18,000
no longer reported in 2025 (was €18,000)
- Gross operating margin -€12,972
down €12,972 (-75.7%), from €17,137 to €4,165
- Taxes -€8,061
down €8,061, from €7,132 to -€929
- Depreciation -€3,078
down €3,078 (-66.8%), from €4,609 to €1,531
- Other operating charges -€237
down €237 (-35.2%), from €674 to €437
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 | €60,990 | €54,418 | -€6,572 | -10.8% |
| Fixed assets | 21/28 | €38,154 | €30,000 | -€8,154 | -21.4% |
| Tangible fixed assets | 22/27 | €8,154 | - | -€8,154 | |
| Plant, machinery and equipment | 23 | €522 | - | -€522 | |
| Furniture and vehicles | 24 | €7,632 | - | -€7,632 | |
| Financial fixed assets | 28 | €30,000 | €30,000 | = | 0.0% |
| Current assets | 29/58 | €22,836 | €24,418 | +€1,582 | +6.9% |
| Amounts receivable within one year | 40/41 | €7,500 | €4,825 | -€2,675 | -35.7% |
| Other amounts receivable | 41 | €7,500 | €4,825 | -€2,675 | -35.7% |
| Cash at bank and in hand | 54/58 | €14,352 | €18,781 | +€4,429 | +30.9% |
| Deferred charges and accrued income | 490/1 | €984 | €812 | -€172 | -17.5% |
| Total equity and liabilities | 10/49 | €60,990 | €54,418 | -€6,572 | -10.8% |
| Equity | 10/15 | €39,166 | €34,787 | -€4,379 | -11.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,666 | €32,287 | -€4,379 | -11.9% |
| Amounts payable | 17/49 | €21,824 | €19,631 | -€2,193 | -10.0% |
| Amounts payable after more than one year | 17 | €6,889 | €4,919 | -€1,970 | -28.6% |
| Financial debts | 170/4 | €6,889 | €4,919 | -€1,970 | -28.6% |
| Amounts payable within one year | 42/48 | €14,935 | €14,712 | -€223 | -1.5% |
| Current portion of amounts payable after more than one year | 42 | €1,892 | €1,970 | +€78 | +4.1% |
| Trade debts | 44 | €1,184 | €1,855 | +€671 | +56.7% |
| Suppliers | 440/4 | €1,184 | €1,855 | +€671 | +56.7% |
| Taxes, remuneration and social security | 45 | €10,793 | €5,859 | -€4,934 | -45.7% |
| Taxes | 450/3 | €10,793 | €5,859 | -€4,934 | -45.7% |
| Other amounts payable | 47/48 | €1,066 | €5,028 | +€3,962 | +372% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,609 | €1,531 | -€3,078 | -66.8% |
| Other operating charges | 640/8 | €674 | €437 | -€237 | -35.2% |
| Gross operating margin | 9900 | €17,137 | €4,165 | -€12,972 | -75.7% |
| Operating profit (loss) | 9901 | €11,854 | €2,197 | -€9,657 | -81.5% |
| Financial income | 75/76B | €18,000 | - | -€18,000 | |
| Recurring financial income | 75 | €18,000 | - | -€18,000 | |
| Financial charges | 65/66B | €521 | €446 | -€75 | -14.4% |
| Recurring financial charges | 65 | €521 | €446 | -€75 | -14.4% |
| Profit (loss) for the period before taxes | 9903 | €29,333 | €1,751 | -€27,582 | -94.0% |
| Income taxes | 67/77 | €7,132 | -€929 | -€8,061 | |
| Profit (loss) for the period | 9904 | €22,201 | €2,680 | -€19,521 | -87.9% |
| Profit (loss) for the period to be appropriated | 9905 | €22,201 | €2,680 | -€19,521 | -87.9% |
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 27 October 2026 via checked.be.