MLM MANAGEMENT: 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.
MLM MANAGEMENT
Largest movements
- Cash -€34,319
down €34,319 (-44.4%), from €77,240 to €42,921
mainly Debts after one year (-€59,861) and Receivables within one year (-€26,714)
- Receivables within one year +€26,714
up €26,714 (+10.8%), from €247,542 to €274,255
of which Other amounts receivable: +€30,272
- Tangible fixed assets -€16,637
down €16,637 (-3.1%), from €533,610 to €516,973
of which Land and buildings: -€22,392
- Debts after one year -€59,861
down €59,861 (-21.6%), from €277,771 to €217,909
- Reserves +€32,000
up €32,000 (+64.0%), from €50,000 to €82,000
- Gross operating margin -€313,891
down €313,891 (-74.5%), from €421,199 to €107,308
- Taxes -€85,441
down €85,441 (-83.1%), from €102,784 to €17,344
- Other operating charges -€6,640
down €6,640 (-60.2%), from €11,031 to €4,391
- Staff costs -€5,981
no longer reported in 2025 (was €5,981)
- Depreciation +€5,691
up €5,691 (+21.1%), from €26,936 to €32,627
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 | €860,731 | €835,310 | -€25,421 | -3.0% |
| Fixed assets | 21/28 | €533,910 | €517,273 | -€16,637 | -3.1% |
| Tangible fixed assets | 22/27 | €533,610 | €516,973 | -€16,637 | -3.1% |
| Land and buildings | 22 | €512,501 | €490,109 | -€22,392 | -4.4% |
| Furniture and vehicles | 24 | €6,432 | €13,887 | +€7,455 | +116% |
| Other tangible fixed assets | 26 | €14,677 | €12,977 | -€1,700 | -11.6% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €326,821 | €318,037 | -€8,784 | -2.7% |
| Amounts receivable within one year | 40/41 | €247,542 | €274,255 | +€26,714 | +10.8% |
| Trade receivables | 40 | €37,880 | €34,322 | -€3,558 | -9.4% |
| Other amounts receivable | 41 | €209,662 | €239,933 | +€30,272 | +14.4% |
| Cash at bank and in hand | 54/58 | €77,240 | €42,921 | -€34,319 | -44.4% |
| Deferred charges and accrued income | 490/1 | €2,040 | €861 | -€1,178 | -57.8% |
| Total equity and liabilities | 10/49 | €860,731 | €835,310 | -€25,421 | -3.0% |
| Equity | 10/15 | €388,636 | €420,666 | +€32,030 | +8.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €50,000 | €82,000 | +€32,000 | +64.0% |
| Distributable reserves | 133 | €50,000 | €82,000 | +€32,000 | +64.0% |
| Profit (loss) carried forward | 14 | €332,436 | €332,466 | +€30 | 0.0% |
| Amounts payable | 17/49 | €472,095 | €414,644 | -€57,451 | -12.2% |
| Amounts payable after more than one year | 17 | €277,771 | €217,909 | -€59,861 | -21.6% |
| Financial debts | 170/4 | €277,771 | €217,909 | -€59,861 | -21.6% |
| Amounts payable within one year | 42/48 | €194,324 | €196,735 | +€2,411 | +1.2% |
| Current portion of amounts payable after more than one year | 42 | €72,269 | €69,240 | -€3,029 | -4.2% |
| Trade debts | 44 | €6,673 | €3,983 | -€2,690 | -40.3% |
| Suppliers | 440/4 | €6,673 | €3,983 | -€2,690 | -40.3% |
| Taxes, remuneration and social security | 45 | €115,382 | €123,511 | +€8,129 | +7.0% |
| Taxes | 450/3 | €111,999 | €120,128 | +€8,129 | +7.3% |
| Remuneration and social security | 454/9 | €3,383 | €3,383 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €5,981 | - | -€5,981 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,936 | €32,627 | +€5,691 | +21.1% |
| Other operating charges | 640/8 | €11,031 | €4,391 | -€6,640 | -60.2% |
| Gross operating margin | 9900 | €421,199 | €107,308 | -€313,891 | -74.5% |
| Operating profit (loss) | 9901 | €377,251 | €70,290 | -€306,961 | -81.4% |
| Financial income | 75/76B | €6 | €15 | +€9 | +146% |
| Recurring financial income | 75 | €6 | €15 | +€9 | +146% |
| Financial charges | 65/66B | €22,705 | €20,931 | -€1,774 | -7.8% |
| Recurring financial charges | 65 | €22,705 | €20,931 | -€1,774 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | €354,553 | €49,374 | -€305,179 | -86.1% |
| Income taxes | 67/77 | €102,784 | €17,344 | -€85,441 | -83.1% |
| Profit (loss) for the period | 9904 | €251,768 | €32,030 | -€219,738 | -87.3% |
| Profit (loss) for the period to be appropriated | 9905 | €251,768 | €32,030 | -€219,738 | -87.3% |
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 17 October 2026 via checked.be.