M4KE.IT: 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.
M4KE.IT
Largest movements
- Current investments -€2.3m
down €2.3m (-100.0%), from €2.3m to €357
- Receivables within one year -€321,068
down €321,068 (-36.1%), from €888,315 to €567,248
of which Trade receivables: -€578,941
- Cash -€95,941
down €95,941 (-61.9%), from €155,048 to €59,106
mainly Net result for the year (-€1.9m) and Trade debts (-€500,828)
- Financial fixed assets -€40,541
down €40,541 (-44.6%), from €90,850 to €50,309
- Profit (loss) carried forward -€1.9m
down €1.9m (-79.3%), from €2.5m to €507,848
- Trade debts -€500,828
down €500,828 (-100.0%), from €500,971 to €142
- Revaluation surpluses -€248,931
down €248,931 (-83.2%), from €299,242 to €50,310
- Financial charges +€1.9m
up €1.9m (+21,628%), from €8,849 to €1.9m
of which Non-recurring financial charges: +€1.9m
- Gross operating margin -€324,925
down €324,925 (-77.3%), from €420,136 to €95,211
- Staff costs -€291,385
down €291,385 (-92.5%), from €314,968 to €23,583
- Other operating charges +€49,333
up €49,333 (+2,681%), from €1,840 to €51,173
- Write-downs -€48,664
down €48,664 (-59.8%), from €81,390 to €32,726
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 | €3,461,124 | €704,554 | -€2.8m | -79.6% |
| Fixed assets | 21/28 | €95,549 | €50,309 | -€45,240 | -47.3% |
| Tangible fixed assets | 22/27 | €4,699 | €0 | -€4,699 | -100% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €4,699 | €0 | -€4,699 | -100% |
| Financial fixed assets | 28 | €90,850 | €50,309 | -€40,541 | -44.6% |
| Current assets | 29/58 | €3,365,575 | €654,245 | -€2.7m | -80.6% |
| Amounts receivable after more than one year | 29 | €27,534 | €27,534 | = | 0.0% |
| Trade receivables | 290 | €27,534 | €27,534 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €888,315 | €567,248 | -€321,068 | -36.1% |
| Trade receivables | 40 | €780,267 | €201,326 | -€578,941 | -74.2% |
| Other amounts receivable | 41 | €108,048 | €365,921 | +€257,873 | +239% |
| Current investments | 50/53 | €2,294,230 | €357 | -€2.3m | -100.0% |
| Cash at bank and in hand | 54/58 | €155,048 | €59,106 | -€95,941 | -61.9% |
| Deferred charges and accrued income | 490/1 | €449 | €0 | -€449 | -100% |
| Total equity and liabilities | 10/49 | €3,461,124 | €704,554 | -€2.8m | -79.6% |
| Equity | 10/15 | €2,775,892 | €579,058 | -€2.2m | -79.1% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Revaluation surpluses | 12 | €299,242 | €50,310 | -€248,931 | -83.2% |
| Reserves | 13 | €1,900 | €1,900 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,900 | €0 | -€1,900 | -100% |
| Reserves not available under the articles | 1311 | €1,900 | €0 | -€1,900 | -100% |
| Distributable reserves | 133 | - | €1,900 | +€1,900 | |
| Profit (loss) carried forward | 14 | €2,455,750 | €507,848 | -€1.9m | -79.3% |
| Amounts payable | 17/49 | €685,232 | €125,496 | -€559,736 | -81.7% |
| Amounts payable after more than one year | 17 | €25,095 | €0 | -€25,095 | -100% |
| Financial debts | 170/4 | €25,095 | €0 | -€25,095 | -100% |
| Amounts payable within one year | 42/48 | €659,177 | €115,552 | -€543,625 | -82.5% |
| Current portion of amounts payable after more than one year | 42 | €82,547 | €57,162 | -€25,385 | -30.8% |
| Trade debts | 44 | €500,971 | €142 | -€500,828 | -100.0% |
| Suppliers | 440/4 | €500,971 | €142 | -€500,828 | -100.0% |
| Taxes, remuneration and social security | 45 | €75,659 | €58,212 | -€17,447 | -23.1% |
| Taxes | 450/3 | €32,884 | €58,212 | +€25,328 | +77.0% |
| Remuneration and social security | 454/9 | €42,775 | €0 | -€42,775 | -100% |
| Other amounts payable | 47/48 | €0 | €36 | +€36 | |
| Accrued charges and deferred income | 492/3 | €960 | €9,943 | +€8,983 | +935% |
| Non-recurring operating income | 76A | €20,454 | €1,259 | -€19,195 | -93.8% |
| Remuneration, social security and pensions | 62 | €314,968 | €23,583 | -€291,385 | -92.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,090 | €0 | -€3,090 | -100% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €81,390 | €32,726 | -€48,664 | -59.8% |
| Other operating charges | 640/8 | €1,840 | €51,173 | +€49,333 | +2,681% |
| Non-recurring operating charges | 66A | €72,458 | €13,652 | -€58,806 | -81.2% |
| Gross operating margin | 9900 | €420,136 | €95,211 | -€324,925 | -77.3% |
| Operating profit (loss) | 9901 | -€53,610 | -€25,923 | +€27,687 | +51.6% |
| Financial income | 75/76B | €99 | €745 | +€646 | +653% |
| Recurring financial income | 75 | €99 | €745 | +€646 | +653% |
| Financial charges | 65/66B | €8,849 | €1,922,724 | +€1.9m | +21,628% |
| Recurring financial charges | 65 | €8,849 | €7,986 | -€863 | -9.8% |
| Non-recurring financial charges | 66B | - | €1,914,738 | +€1.9m | |
| Profit (loss) for the period before taxes | 9903 | -€62,360 | -€1,947,902 | -€1.9m | -3,024% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€62,360 | -€1,947,902 | -€1.9m | -3,024% |
| Profit (loss) for the period to be appropriated | 9905 | -€62,360 | -€1,947,902 | -€1.9m | -3,024% |
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 20 October 2026 via checked.be.