m8n: 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.
m8n
Largest movements
- Cash +€51,330
up €51,330 (+49.3%), from €104,153 to €155,483
mainly Net result for the year (+€75,857) and Other debts (+€25,547)
- Receivables within one year +€12,171
up €12,171 (+49.6%), from €24,563 to €36,734
of which Trade receivables: +€6,691
- Deferred charges and accrued income -€3,178
no longer reported in 2025 (was €3,178)
- Reserves +€35,850
up €35,850 (+19.7%), from €181,835 to €217,685
- Other debts +€25,547
up €25,547 (+176.8%), from €14,453 to €40,000
- Gross operating margin +€12,281
up €12,281 (+13.8%), from €88,737 to €101,018
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.
Cash bridge derived
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 | €214,608 | €276,896 | +€62,288 | +29.0% |
| Fixed assets | 21/28 | €2,715 | €4,679 | +€1,964 | +72.4% |
| Tangible fixed assets | 22/27 | €2,715 | €4,679 | +€1,964 | +72.4% |
| Furniture and vehicles | 24 | €2,715 | €4,679 | +€1,964 | +72.4% |
| Current assets | 29/58 | €211,894 | €272,217 | +€60,323 | +28.5% |
| Amounts receivable within one year | 40/41 | €24,563 | €36,734 | +€12,171 | +49.6% |
| Trade receivables | 40 | €24,563 | €31,254 | +€6,691 | +27.2% |
| Other amounts receivable | 41 | - | €5,480 | +€5,480 | |
| Current investments | 50/53 | €80,000 | €80,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €104,153 | €155,483 | +€51,330 | +49.3% |
| Deferred charges and accrued income | 490/1 | €3,178 | - | -€3,178 | |
| Total equity and liabilities | 10/49 | €214,608 | €276,896 | +€62,288 | +29.0% |
| Equity | 10/15 | €188,276 | €224,134 | +€35,857 | +19.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €181,835 | €217,685 | +€35,850 | +19.7% |
| Distributable reserves | 133 | €181,835 | €217,685 | +€35,850 | +19.7% |
| Profit (loss) carried forward | 14 | €241 | €249 | +€7 | +3.1% |
| Amounts payable | 17/49 | €26,332 | €52,762 | +€26,430 | +100.4% |
| Amounts payable within one year | 42/48 | €26,332 | €52,762 | +€26,430 | +100.4% |
| Trade debts | 44 | €1,172 | €1,000 | -€172 | -14.7% |
| Suppliers | 440/4 | €1,172 | €1,000 | -€172 | -14.7% |
| Taxes, remuneration and social security | 45 | €10,708 | €11,762 | +€1,055 | +9.8% |
| Taxes | 450/3 | €10,708 | €11,762 | +€1,055 | +9.8% |
| Other amounts payable | 47/48 | €14,453 | €40,000 | +€25,547 | +176.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €645 | €1,589 | +€944 | +146.5% |
| Other operating charges | 640/8 | €535 | €585 | +€50 | +9.4% |
| Gross operating margin | 9900 | €88,737 | €101,018 | +€12,281 | +13.8% |
| Operating profit (loss) | 9901 | €87,557 | €98,844 | +€11,287 | +12.9% |
| Financial income | 75/76B | €2,195 | €1,227 | -€968 | -44.1% |
| Recurring financial income | 75 | €2,195 | €1,227 | -€968 | -44.1% |
| Financial charges | 65/66B | €189 | €779 | +€590 | +311.3% |
| Recurring financial charges | 65 | €189 | €779 | +€590 | +311.3% |
| Profit (loss) for the period before taxes | 9903 | €89,563 | €99,292 | +€9,729 | +10.9% |
| Income taxes | 67/77 | €24,425 | €23,435 | -€990 | -4.1% |
| Profit (loss) for the period | 9904 | €65,138 | €75,857 | +€10,719 | +16.5% |
| Profit (loss) for the period to be appropriated | 9905 | €65,138 | €75,857 | +€10,719 | +16.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.