M42: 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.
M42
Largest movements
- Tangible fixed assets +€79,265
up €79,265 (+1,376%), from €5,761 to €85,025
of which Furniture and vehicles: +€82,335
- Cash +€1,498
up €1,498 (+14.2%), from €10,522 to €12,021
mainly Net result for the year (+€30,280) and Debts after one year (+€26,086)
- Reserves +€30,280
up €30,280 (+105%), from €28,872 to €59,151
of which Distributable reserves: +€30,280
- Debts after one year +€26,086
new in 2025: €26,086
- Other debts +€16,129
up €16,129 (+312%), from €5,165 to €21,294
- Current portion of long-term debt +€6,460
new in 2025: €6,460
- Tax, wage and social debts +€3,168
up €3,168 (+49.2%), from €6,440 to €9,608
of which Taxes: +€3,168
- Gross operating margin +€8,095
up €8,095 (+23.6%), from €34,363 to €42,459
- Depreciation +€3,772
up €3,772 (+144%), from €2,612 to €6,384
- Taxes +€2,760
up €2,760 (+346%), from €798 to €3,558
- Financial charges +€540
up €540 (+531%), from €102 to €641
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 | €61,293 | €143,196 | +€81,903 | +134% |
| Fixed assets | 21/28 | €5,761 | €85,025 | +€79,265 | +1,376% |
| Tangible fixed assets | 22/27 | €5,761 | €85,025 | +€79,265 | +1,376% |
| Plant, machinery and equipment | 23 | €5,761 | €2,690 | -€3,071 | -53.3% |
| Furniture and vehicles | 24 | - | €82,335 | +€82,335 | |
| Current assets | 29/58 | €55,532 | €58,171 | +€2,639 | +4.8% |
| Amounts receivable within one year | 40/41 | €45,010 | €46,150 | +€1,140 | +2.5% |
| Trade receivables | 40 | €45,010 | €46,150 | +€1,140 | +2.5% |
| Cash at bank and in hand | 54/58 | €10,522 | €12,021 | +€1,498 | +14.2% |
| Total equity and liabilities | 10/49 | €61,293 | €143,196 | +€81,903 | +134% |
| Equity | 10/15 | €48,872 | €79,151 | +€30,280 | +62.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €28,872 | €59,151 | +€30,280 | +105% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €26,872 | €57,151 | +€30,280 | +113% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €12,421 | €64,045 | +€51,624 | +416% |
| Amounts payable after more than one year | 17 | - | €26,086 | +€26,086 | |
| Financial debts | 170/4 | - | €26,086 | +€26,086 | |
| Amounts payable within one year | 42/48 | €12,421 | €37,959 | +€25,538 | +206% |
| Current portion of amounts payable after more than one year | 42 | - | €6,460 | +€6,460 | |
| Trade debts | 44 | €816 | €597 | -€219 | -26.9% |
| Suppliers | 440/4 | €816 | €597 | -€219 | -26.9% |
| Taxes, remuneration and social security | 45 | €6,440 | €9,608 | +€3,168 | +49.2% |
| Taxes | 450/3 | €4,840 | €8,008 | +€3,168 | +65.5% |
| Remuneration and social security | 454/9 | €1,600 | €1,600 | = | 0.0% |
| Other amounts payable | 47/48 | €5,165 | €21,294 | +€16,129 | +312% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,612 | €6,384 | +€3,772 | +144% |
| Other operating charges | 640/8 | €1,571 | €1,598 | +€27 | +1.7% |
| Gross operating margin | 9900 | €34,363 | €42,459 | +€8,095 | +23.6% |
| Operating profit (loss) | 9901 | €30,180 | €34,476 | +€4,296 | +14.2% |
| Financial income | 75/76B | €1 | €2 | +€1 | +130% |
| Recurring financial income | 75 | €1 | €2 | +€1 | +130% |
| Financial charges | 65/66B | €102 | €641 | +€540 | +531% |
| Recurring financial charges | 65 | €102 | €641 | +€540 | +531% |
| Profit (loss) for the period before taxes | 9903 | €30,080 | €33,837 | +€3,758 | +12.5% |
| Income taxes | 67/77 | €798 | €3,558 | +€2,760 | +346% |
| Profit (loss) for the period | 9904 | €29,282 | €30,280 | +€998 | +3.4% |
| Profit (loss) for the period to be appropriated | 9905 | €29,282 | €30,280 | +€998 | +3.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.