M5S: 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.
M5S
Largest movements
- Tangible fixed assets -€3,332
down €3,332 (-50.0%), from €6,662 to €3,330
of which Plant, machinery and equipment: -€3,216
- Cash +€2,391
up €2,391 (+14.7%), from €16,256 to €18,647
mainly Depreciation (+€3,332) and Other debts (+€1,660)
- Profit (loss) carried forward -€2,592
down €2,592 (-37.7%), from -€6,883 to -€9,474
- Other debts +€1,660
up €1,660 (+6.2%), from €26,697 to €28,357
- Gross operating margin +€697
up €697 (+639%), from €109 to €806
- Other operating charges -€387
no longer reported in 2025 (was €387)
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 | €22,942 | €22,008 | -€934 | -4.1% |
| Fixed assets | 21/28 | €6,662 | €3,330 | -€3,332 | -50.0% |
| Tangible fixed assets | 22/27 | €6,662 | €3,330 | -€3,332 | -50.0% |
| Plant, machinery and equipment | 23 | €6,433 | €3,216 | -€3,216 | -50.0% |
| Furniture and vehicles | 24 | €229 | €114 | -€116 | -50.4% |
| Current assets | 29/58 | €16,280 | €18,678 | +€2,398 | +14.7% |
| Amounts receivable within one year | 40/41 | €24 | €31 | +€7 | +31.2% |
| Other amounts receivable | 41 | €24 | €31 | +€7 | +31.2% |
| Cash at bank and in hand | 54/58 | €16,256 | €18,647 | +€2,391 | +14.7% |
| Total equity and liabilities | 10/49 | €22,942 | €22,008 | -€934 | -4.1% |
| Equity | 10/15 | -€3,883 | -€6,474 | -€2,592 | -66.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,883 | -€9,474 | -€2,592 | -37.7% |
| Amounts payable | 17/49 | €26,824 | €28,482 | +€1,658 | +6.2% |
| Amounts payable within one year | 42/48 | €26,824 | €28,482 | +€1,658 | +6.2% |
| Trade debts | 44 | €127 | €125 | -€2 | -1.6% |
| Suppliers | 440/4 | €127 | €125 | -€2 | -1.6% |
| Other amounts payable | 47/48 | €26,697 | €28,357 | +€1,660 | +6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,332 | €3,332 | = | 0.0% |
| Other operating charges | 640/8 | €387 | - | -€387 | |
| Gross operating margin | 9900 | €109 | €806 | +€697 | +639% |
| Operating profit (loss) | 9901 | -€3,610 | -€2,526 | +€1,084 | +30.0% |
| Financial charges | 65/66B | €69 | €65 | -€3 | -4.5% |
| Recurring financial charges | 65 | €69 | €65 | -€3 | -4.5% |
| Profit (loss) for the period before taxes | 9903 | -€3,679 | -€2,592 | +€1,087 | +29.5% |
| Profit (loss) for the period | 9904 | -€3,679 | -€2,592 | +€1,087 | +29.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,679 | -€2,592 | +€1,087 | +29.5% |
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 14 October 2026 via checked.be.