M3K: 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.
M3K
Largest movements
- Stocks and contracts +€30,420
up €30,420 (+18.5%), from €164,125 to €194,544
- Cash -€11,510
down €11,510 (-60.6%), from €18,991 to €7,482
mainly Stocks and contracts (-€30,420) and Tax, wage and social debts (-€8,234)
- Tangible fixed assets -€8,118
down €8,118 (-28.4%), from €28,586 to €20,468
of which Furniture and vehicles: -€7,815
- Receivables within one year -€3,318
down €3,318 (-64.6%), from €5,139 to €1,822
of which Trade receivables: -€3,056
- Deferred charges and accrued income +€2,293
up €2,293 (+1183.0%), from €194 to €2,487
- Other debts +€32,034
up €32,034 (+53.8%), from €59,566 to €91,601
- Tax, wage and social debts -€8,234
down €8,234 (-49.7%), from €16,562 to €8,328
of which Taxes: -€7,985
- Debts after one year -€7,930
down €7,930 (-66.1%), from €11,997 to €4,068
- Current portion of long-term debt -€3,582
down €3,582 (-47.7%), from €7,516 to €3,935
- Trade debts -€3,179
down €3,179 (-7.9%), from €40,055 to €36,876
- Gross operating margin -€10,777
down €10,777 (-18.5%), from €58,099 to €47,322
- Depreciation -€6,287
down €6,287 (-48.7%), from €12,900 to €6,613
- Financial charges -€2,817
down €2,817 (-57.8%), from €4,873 to €2,056
- Taxes -€2,106
down €2,106 (-67.8%), from €3,105 to €1,000
- Other operating charges -€1,785
down €1,785 (-36.9%), from €4,834 to €3,049
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €217,035 | €227,012 | +€9,977 | +4.6% |
| Fixed assets | 21/28 | €28,586 | €20,678 | -€7,908 | -27.7% |
| Tangible fixed assets | 22/27 | €28,586 | €20,468 | -€8,118 | -28.4% |
| Plant, machinery and equipment | 23 | €7,601 | €7,299 | -€303 | -4.0% |
| Furniture and vehicles | 24 | €20,985 | €13,169 | -€7,815 | -37.2% |
| Financial fixed assets | 28 | - | €210 | +€210 | |
| Current assets | 29/58 | €188,449 | €206,334 | +€17,885 | +9.5% |
| Stocks and contracts in progress | 3 | €164,125 | €194,544 | +€30,420 | +18.5% |
| Stocks | 30/36 | €164,125 | €194,544 | +€30,420 | +18.5% |
| Amounts receivable within one year | 40/41 | €5,139 | €1,822 | -€3,318 | -64.6% |
| Trade receivables | 40 | €4,878 | €1,822 | -€3,056 | -62.7% |
| Other amounts receivable | 41 | €262 | - | -€262 | |
| Cash at bank and in hand | 54/58 | €18,991 | €7,482 | -€11,510 | -60.6% |
| Deferred charges and accrued income | 490/1 | €194 | €2,487 | +€2,293 | +1183.0% |
| Total equity and liabilities | 10/49 | €217,035 | €227,012 | +€9,977 | +4.6% |
| Equity | 10/15 | €81,026 | €81,838 | +€812 | +1.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Other | 1319 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | €60,566 | €61,378 | +€812 | +1.3% |
| Amounts payable | 17/49 | €136,009 | €145,174 | +€9,165 | +6.7% |
| Amounts payable after more than one year | 17 | €11,997 | €4,068 | -€7,930 | -66.1% |
| Financial debts | 170/4 | €11,997 | €4,068 | -€7,930 | -66.1% |
| Amounts payable within one year | 42/48 | €123,700 | €140,739 | +€17,039 | +13.8% |
| Current portion of amounts payable after more than one year | 42 | €7,516 | €3,935 | -€3,582 | -47.7% |
| Trade debts | 44 | €40,055 | €36,876 | -€3,179 | -7.9% |
| Suppliers | 440/4 | €40,055 | €36,876 | -€3,179 | -7.9% |
| Taxes, remuneration and social security | 45 | €16,562 | €8,328 | -€8,234 | -49.7% |
| Taxes | 450/3 | €11,044 | €3,059 | -€7,985 | -72.3% |
| Remuneration and social security | 454/9 | €5,519 | €5,269 | -€249 | -4.5% |
| Other amounts payable | 47/48 | €59,566 | €91,601 | +€32,034 | +53.8% |
| Accrued charges and deferred income | 492/3 | €312 | €367 | +€55 | +17.7% |
| Remuneration, social security and pensions | 62 | €25,319 | €26,561 | +€1,241 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,900 | €6,613 | -€6,287 | -48.7% |
| Other operating charges | 640/8 | €4,834 | €3,049 | -€1,785 | -36.9% |
| Non-recurring operating charges | 66A | €3,194 | €7,425 | +€4,231 | +132.5% |
| Gross operating margin | 9900 | €58,099 | €47,322 | -€10,777 | -18.5% |
| Operating profit (loss) | 9901 | €11,852 | €3,675 | -€8,177 | -69.0% |
| Financial income | 75/76B | €82 | €193 | +€112 | +136.2% |
| Recurring financial income | 75 | €82 | €193 | +€112 | +136.2% |
| Financial charges | 65/66B | €4,873 | €2,056 | -€2,817 | -57.8% |
| Recurring financial charges | 65 | €4,873 | €2,056 | -€2,817 | -57.8% |
| Profit (loss) for the period before taxes | 9903 | €7,061 | €1,812 | -€5,249 | -74.3% |
| Income taxes | 67/77 | €3,105 | €1,000 | -€2,106 | -67.8% |
| Profit (loss) for the period | 9904 | €3,955 | €812 | -€3,143 | -79.5% |
| Profit (loss) for the period to be appropriated | 9905 | €3,955 | €812 | -€3,143 | -79.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.