M99: 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.
M99
Largest movements
- Receivables within one year -€17,580
down €17,580 (-81.8%), from €21,491 to €3,911
of which Other amounts receivable: -€19,514
- Tangible fixed assets -€9,893
down €9,893 (-27.4%), from €36,165 to €26,271
of which Furniture and vehicles: -€9,008
- Stocks and contracts +€4,737
up €4,737 (+5.7%), from €83,030 to €87,767
- Cash -€2,523
down €2,523 (-95.4%), from €2,644 to €121
mainly Other debts (-€9,959) and Net result for the year (-€5,948)
- Other debts -€9,959
down €9,959 (-8.2%), from €121,546 to €111,588
- Profit (loss) carried forward -€5,948
down €5,948 (-10.1%), from -€58,906 to -€64,853
- Trade debts -€5,102
down €5,102 (-45.3%), from €11,274 to €6,172
- Advances received -€4,621
down €4,621 (-100.0%), from €4,621 to €0
- Current portion of long-term debt -€3,396
down €3,396 (-100.0%), from €3,396 to €0
- Staff costs +€5,336
up €5,336 (+1085.4%), from €492 to €5,827
- Gross operating margin -€2,864
down €2,864 (-19.7%), from €14,524 to €11,660
- Other operating charges -€2,513
down €2,513 (-98.2%), from €2,558 to €45
- Depreciation +€369
up €369 (+3.9%), from €9,524 to €9,893
- Financial charges -€287
down €287 (-11.3%), from €2,547 to €2,260
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 | €153,089 | €128,135 | -€24,953 | -16.3% |
| Fixed assets | 21/28 | €44,065 | €33,771 | -€10,293 | -23.4% |
| Tangible fixed assets | 22/27 | €36,165 | €26,271 | -€9,893 | -27.4% |
| Plant, machinery and equipment | 23 | €2,469 | €1,584 | -€885 | -35.9% |
| Furniture and vehicles | 24 | €33,696 | €24,688 | -€9,008 | -26.7% |
| Financial fixed assets | 28 | €7,900 | €7,500 | -€400 | -5.1% |
| Current assets | 29/58 | €109,024 | €94,364 | -€14,660 | -13.4% |
| Stocks and contracts in progress | 3 | €83,030 | €87,767 | +€4,737 | +5.7% |
| Stocks | 30/36 | €83,030 | €87,767 | +€4,737 | +5.7% |
| Amounts receivable within one year | 40/41 | €21,491 | €3,911 | -€17,580 | -81.8% |
| Trade receivables | 40 | €1,759 | €3,693 | +€1,934 | +109.9% |
| Other amounts receivable | 41 | €19,732 | €218 | -€19,514 | -98.9% |
| Cash at bank and in hand | 54/58 | €2,644 | €121 | -€2,523 | -95.4% |
| Deferred charges and accrued income | 490/1 | €1,859 | €2,565 | +€706 | +37.9% |
| Total equity and liabilities | 10/49 | €153,089 | €128,135 | -€24,953 | -16.3% |
| Equity | 10/15 | -€48,906 | -€54,853 | -€5,948 | -12.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€58,906 | -€64,853 | -€5,948 | -10.1% |
| Amounts payable | 17/49 | €201,994 | €182,989 | -€19,005 | -9.4% |
| Amounts payable after more than one year | 17 | €49,000 | €49,000 | = | 0.0% |
| Financial debts | 170/4 | €49,000 | €49,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €152,493 | €133,989 | -€18,505 | -12.1% |
| Current portion of amounts payable after more than one year | 42 | €3,396 | €0 | -€3,396 | -100.0% |
| Financial debts | 43 | €0 | €3,374 | +€3,374 | |
| Credit institutions | 430/8 | €0 | €3,374 | +€3,374 | |
| Trade debts | 44 | €11,274 | €6,172 | -€5,102 | -45.3% |
| Suppliers | 440/4 | €11,274 | €6,172 | -€5,102 | -45.3% |
| Advances received on contracts in progress | 46 | €4,621 | €0 | -€4,621 | -100.0% |
| Taxes, remuneration and social security | 45 | €11,657 | €12,855 | +€1,198 | +10.3% |
| Taxes | 450/3 | €11,296 | €12,855 | +€1,559 | +13.8% |
| Remuneration and social security | 454/9 | €361 | €0 | -€361 | -100.0% |
| Other amounts payable | 47/48 | €121,546 | €111,588 | -€9,959 | -8.2% |
| Accrued charges and deferred income | 492/3 | €501 | €0 | -€501 | -100.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €492 | €5,827 | +€5,336 | +1085.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,524 | €9,893 | +€369 | +3.9% |
| Other operating charges | 640/8 | €2,558 | €45 | -€2,513 | -98.2% |
| Gross operating margin | 9900 | €14,524 | €11,660 | -€2,864 | -19.7% |
| Operating profit (loss) | 9901 | €1,951 | -€4,105 | -€6,056 | |
| Financial income | 75/76B | €625 | €549 | -€76 | -12.1% |
| Recurring financial income | 75 | €625 | €549 | -€76 | -12.1% |
| Financial charges | 65/66B | €2,547 | €2,260 | -€287 | -11.3% |
| Recurring financial charges | 65 | €2,547 | €2,260 | -€287 | -11.3% |
| Profit (loss) for the period before taxes | 9903 | €28 | -€5,816 | -€5,844 | |
| Income taxes | 67/77 | €133 | €132 | -€1 | -0.4% |
| Profit (loss) for the period | 9904 | -€104 | -€5,948 | -€5,844 | -5609.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€104 | -€5,948 | -€5,844 | -5609.8% |
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 10 October 2026 via checked.be.