MM CONSTRUCT: 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.
MM CONSTRUCT
Largest movements
- Stocks and contracts +€453,997
up €453,997 (+235.2%), from €193,025 to €647,022
- Cash -€179,547
down €179,547 (-67.4%), from €266,540 to €86,993
mainly Stocks and contracts (-€453,997) and Tax, wage and social debts (-€129,475)
- Receivables within one year +€12,974
up €12,974 (+49255.8%), from €26 to €13,000
of which Trade receivables: +€9,148
- Tangible fixed assets -€11,434
down €11,434 (-23.7%), from €48,305 to €36,871
of which Furniture and vehicles: -€10,978
- Other debts +€482,742
up €482,742 (+227.9%), from €211,849 to €694,591
- Tax, wage and social debts -€129,475
down €129,475 (-95.0%), from €136,225 to €6,750
of which Taxes: -€129,475
- Profit (loss) carried forward -€92,977
down €92,977 (-245.4%), from -€37,889 to -€130,866
- Accrued charges and deferred income +€15,054
up €15,054 (+22864.6%), from €66 to €15,120
- Gross operating margin -€116,533
down €116,533, from €38,693 to -€77,840
- Financial income -€1,789
down €1,789 (-73.5%), from €2,433 to €644
- Other operating charges -€1,774
down €1,774 (-65.0%), from €2,728 to €954
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 | €510,251 | €786,546 | +€276,295 | +54.1% |
| Fixed assets | 21/28 | €48,305 | €37,371 | -€10,934 | -22.6% |
| Tangible fixed assets | 22/27 | €48,305 | €36,871 | -€11,434 | -23.7% |
| Plant, machinery and equipment | 23 | €1,359 | €904 | -€455 | -33.5% |
| Furniture and vehicles | 24 | €46,946 | €35,967 | -€10,978 | -23.4% |
| Financial fixed assets | 28 | €0 | €500 | +€500 | |
| Current assets | 29/58 | €461,946 | €749,174 | +€287,228 | +62.2% |
| Stocks and contracts in progress | 3 | €193,025 | €647,022 | +€453,997 | +235.2% |
| Stocks | 30/36 | €193,025 | €647,022 | +€453,997 | +235.2% |
| Amounts receivable within one year | 40/41 | €26 | €13,000 | +€12,974 | +49255.8% |
| Trade receivables | 40 | - | €9,148 | +€9,148 | |
| Other amounts receivable | 41 | €26 | €3,852 | +€3,826 | +14526.0% |
| Cash at bank and in hand | 54/58 | €266,540 | €86,993 | -€179,547 | -67.4% |
| Deferred charges and accrued income | 490/1 | €2,355 | €2,159 | -€196 | -8.3% |
| Total equity and liabilities | 10/49 | €510,251 | €786,546 | +€276,295 | +54.1% |
| Equity | 10/15 | €162,111 | €69,134 | -€92,977 | -57.4% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€37,889 | -€130,866 | -€92,977 | -245.4% |
| Amounts payable | 17/49 | €348,140 | €717,412 | +€369,271 | +106.1% |
| Amounts payable within one year | 42/48 | €348,074 | €702,292 | +€354,217 | +101.8% |
| Trade debts | 44 | €0 | €951 | +€951 | |
| Suppliers | 440/4 | €0 | €951 | +€951 | |
| Taxes, remuneration and social security | 45 | €136,225 | €6,750 | -€129,475 | -95.0% |
| Taxes | 450/3 | €133,975 | €4,500 | -€129,475 | -96.6% |
| Remuneration and social security | 454/9 | €2,250 | €2,250 | = | 0.0% |
| Other amounts payable | 47/48 | €211,849 | €694,591 | +€482,742 | +227.9% |
| Accrued charges and deferred income | 492/3 | €66 | €15,120 | +€15,054 | +22864.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,177 | €14,510 | +€334 | +2.4% |
| Other operating charges | 640/8 | €2,728 | €954 | -€1,774 | -65.0% |
| Gross operating margin | 9900 | €38,693 | -€77,840 | -€116,533 | |
| Operating profit (loss) | 9901 | €21,789 | -€93,305 | -€115,093 | |
| Financial income | 75/76B | €2,433 | €644 | -€1,789 | -73.5% |
| Recurring financial income | 75 | €2,433 | €644 | -€1,789 | -73.5% |
| Financial charges | 65/66B | €151 | €156 | +€4 | +2.8% |
| Recurring financial charges | 65 | €151 | €156 | +€4 | +2.8% |
| Profit (loss) for the period before taxes | 9903 | €24,071 | -€92,816 | -€116,886 | |
| Income taxes | 67/77 | €174 | €161 | -€13 | -7.3% |
| Profit (loss) for the period | 9904 | €23,897 | -€92,977 | -€116,874 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,897 | -€92,977 | -€116,874 |
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 29 September 2026 via checked.be.