M80 Partners: 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.
M80 Partners
Largest movements
- Receivables within one year +€478,617
up €478,617 (+12.0%), from €4.0m to €4.5m
of which Trade receivables: +€355,676
- Cash -€326,494
down €326,494 (-98.4%), from €331,821 to €5,327
mainly Advances received (-€533,221) and Receivables within one year (-€478,617)
- Deferred charges and accrued income +€117,201
up €117,201 (+118%), from €99,736 to €216,937
- Trade debts +€545,014
up €545,014 (+28.2%), from €1.9m to €2.5m
- Advances received -€533,221
down €533,221 (-100%), from €533,221 to €0
- Profit (loss) carried forward +€278,157
up €278,157 (+15.7%), from €1.8m to €2.1m
- Other debts -€74,295
down €74,295 (-96.9%), from €76,667 to €2,373
- Gross operating margin +€202,305
up €202,305 (+14.0%), from €1.4m to €1.6m
- Staff costs +€40,752
up €40,752 (+3.7%), from €1.1m to €1.1m
- Taxes +€37,720
up €37,720 (+43.6%), from €86,600 to €124,320
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 | €4,723,630 | €4,982,449 | +€258,818 | +5.5% |
| Fixed assets | 21/28 | €248,963 | €243,137 | -€5,826 | -2.3% |
| Intangible fixed assets | 21 | €22,935 | €16,958 | -€5,977 | -26.1% |
| Tangible fixed assets | 22/27 | €143,778 | €114,451 | -€29,326 | -20.4% |
| Plant, machinery and equipment | 23 | €29,935 | €27,025 | -€2,910 | -9.7% |
| Furniture and vehicles | 24 | €79,070 | €56,811 | -€22,259 | -28.2% |
| Other tangible fixed assets | 26 | €34,773 | €30,615 | -€4,158 | -12.0% |
| Financial fixed assets | 28 | €82,251 | €111,728 | +€29,478 | +35.8% |
| Current assets | 29/58 | €4,474,667 | €4,739,311 | +€264,644 | +5.9% |
| Amounts receivable after more than one year | 29 | €67,125 | €62,445 | -€4,680 | -7.0% |
| Other amounts receivable | 291 | €67,125 | €62,445 | -€4,680 | -7.0% |
| Amounts receivable within one year | 40/41 | €3,975,985 | €4,454,602 | +€478,617 | +12.0% |
| Trade receivables | 40 | €3,668,101 | €4,023,776 | +€355,676 | +9.7% |
| Other amounts receivable | 41 | €307,884 | €430,826 | +€122,942 | +39.9% |
| Cash at bank and in hand | 54/58 | €331,821 | €5,327 | -€326,494 | -98.4% |
| Deferred charges and accrued income | 490/1 | €99,736 | €216,937 | +€117,201 | +118% |
| Total equity and liabilities | 10/49 | €4,723,630 | €4,982,449 | +€258,818 | +5.5% |
| Equity | 10/15 | €1,973,153 | €2,251,310 | +€278,157 | +14.1% |
| Contributions | 10/11 | €182,860 | €182,860 | = | 0.0% |
| Capital | 10 | €182,860 | €182,860 | = | 0.0% |
| Issued capital | 100 | €182,860 | €182,860 | = | 0.0% |
| Reserves | 13 | €18,286 | €18,286 | = | 0.0% |
| Non-distributable reserves | 130/1 | €18,286 | €18,286 | = | 0.0% |
| Legal reserve | 130 | €18,286 | €18,286 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,772,007 | €2,050,164 | +€278,157 | +15.7% |
| Amounts payable | 17/49 | €2,750,477 | €2,731,139 | -€19,339 | -0.7% |
| Amounts payable within one year | 42/48 | €2,750,477 | €2,731,139 | -€19,339 | -0.7% |
| Trade debts | 44 | €1,929,833 | €2,474,847 | +€545,014 | +28.2% |
| Suppliers | 440/4 | €1,929,833 | €2,474,847 | +€545,014 | +28.2% |
| Advances received on contracts in progress | 46 | €533,221 | €0 | -€533,221 | -100% |
| Taxes, remuneration and social security | 45 | €210,756 | €253,919 | +€43,163 | +20.5% |
| Taxes | 450/3 | €0 | €12,614 | +€12,614 | |
| Remuneration and social security | 454/9 | €210,756 | €241,305 | +€30,549 | +14.5% |
| Other amounts payable | 47/48 | €76,667 | €2,373 | -€74,295 | -96.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €1,101,232 | €1,141,984 | +€40,752 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,988 | €48,060 | +€72 | +0.1% |
| Other operating charges | 640/8 | €55 | €4,383 | +€4,328 | +7,939% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €1,442,341 | €1,644,645 | +€202,305 | +14.0% |
| Operating profit (loss) | 9901 | €293,066 | €450,218 | +€157,152 | +53.6% |
| Financial income | 75/76B | €4,107 | €3,683 | -€425 | -10.3% |
| Recurring financial income | 75 | €4,107 | €3,683 | -€425 | -10.3% |
| Financial charges | 65/66B | €18,603 | €8,767 | -€9,836 | -52.9% |
| Recurring financial charges | 65 | €18,603 | €8,767 | -€9,836 | -52.9% |
| Profit (loss) for the period before taxes | 9903 | €278,570 | €445,134 | +€166,564 | +59.8% |
| Income taxes | 67/77 | €86,600 | €124,320 | +€37,720 | +43.6% |
| Profit (loss) for the period | 9904 | €191,970 | €320,813 | +€128,843 | +67.1% |
| Profit (loss) for the period to be appropriated | 9905 | €191,970 | €320,813 | +€128,843 | +67.1% |
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 23 October 2026 via checked.be.