MM Develop I: 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.
MM Develop I
Largest movements
- Stocks and contracts +€1.1m
up €1.1m (+57.4%), from €1.9m to €3.1m
- Receivables within one year +€496,192
up €496,192 (+2,217%), from €22,377 to €518,570
of which Other amounts receivable: +€366,364
- Cash +€70,421
up €70,421 (+787%), from €8,952 to €79,373
mainly Advances received (+€2.1m) and Current portion of long-term debt (+€175,957)
- Advances received +€2.1m
new in 2025: €2.1m
- Short-term financial debts -€760,749
down €760,749 (-100%), from €760,749 to €0
- Current portion of long-term debt +€175,957
new in 2025: €175,957
- Tax, wage and social debts +€124,558
new in 2025: €124,558
- Trade debts -€75,508
down €75,508 (-16.3%), from €463,515 to €388,006
- Gross operating margin +€69,290
up €69,290, from -€3,683 to €65,606
- Financial charges +€26,109
up €26,109 (+329%), from €7,939 to €34,048
- Taxes +€4,789
new in 2025: €4,789
- Financial income -€993
down €993 (-100.0%), from €993 to €0
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 | €1,985,301 | €3,668,282 | +€1.7m | +84.8% |
| Fixed assets | 21/28 | €5,000 | €5,000 | = | 0.0% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €1,980,301 | €3,663,282 | +€1.7m | +85.0% |
| Stocks and contracts in progress | 3 | €1,947,978 | €3,065,339 | +€1.1m | +57.4% |
| Stocks | 30/36 | €1,947,978 | €3,065,339 | +€1.1m | +57.4% |
| Amounts receivable within one year | 40/41 | €22,377 | €518,570 | +€496,192 | +2,217% |
| Trade receivables | 40 | €1,031 | €130,859 | +€129,828 | +12,595% |
| Other amounts receivable | 41 | €21,347 | €387,711 | +€366,364 | +1,716% |
| Cash at bank and in hand | 54/58 | €8,952 | €79,373 | +€70,421 | +787% |
| Deferred charges and accrued income | 490/1 | €993 | €0 | -€993 | -100% |
| Total equity and liabilities | 10/49 | €1,985,301 | €3,668,282 | +€1.7m | +84.8% |
| Equity | 10/15 | €39,035 | €65,261 | +€26,226 | +67.2% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | - | €3,761 | +€3,761 | |
| Non-distributable reserves | 130/1 | - | €3,761 | +€3,761 | |
| Legal reserve | 130 | - | €3,761 | +€3,761 | |
| Profit (loss) carried forward | 14 | -€22,465 | €0 | +€22,465 | |
| Amounts payable | 17/49 | €1,946,266 | €3,603,021 | +€1.7m | +85.1% |
| Amounts payable after more than one year | 17 | €639,870 | €658,611 | +€18,741 | +2.9% |
| Financial debts | 170/4 | €639,870 | €658,611 | +€18,741 | +2.9% |
| Amounts payable within one year | 42/48 | €1,251,126 | €2,907,065 | +€1.7m | +132% |
| Current portion of amounts payable after more than one year | 42 | - | €175,957 | +€175,957 | |
| Financial debts | 43 | €760,749 | €0 | -€760,749 | -100% |
| Credit institutions | 430/8 | €760,749 | €0 | -€760,749 | -100% |
| Trade debts | 44 | €463,515 | €388,006 | -€75,508 | -16.3% |
| Suppliers | 440/4 | €463,515 | €388,006 | -€75,508 | -16.3% |
| Advances received on contracts in progress | 46 | - | €2,120,575 | +€2.1m | |
| Taxes, remuneration and social security | 45 | - | €124,558 | +€124,558 | |
| Taxes | 450/3 | - | €124,558 | +€124,558 | |
| Other amounts payable | 47/48 | €26,863 | €97,969 | +€71,106 | +265% |
| Accrued charges and deferred income | 492/3 | €55,270 | €37,345 | -€17,925 | -32.4% |
| Other operating charges | 640/8 | €567 | €544 | -€23 | -4.1% |
| Gross operating margin | 9900 | -€3,683 | €65,606 | +€69,290 | |
| Operating profit (loss) | 9901 | -€4,250 | €65,063 | +€69,313 | |
| Financial income | 75/76B | €993 | €0 | -€993 | -100.0% |
| Recurring financial income | 75 | €993 | €0 | -€993 | -100.0% |
| Financial charges | 65/66B | €7,939 | €34,048 | +€26,109 | +329% |
| Recurring financial charges | 65 | €7,939 | €34,048 | +€26,109 | +329% |
| Profit (loss) for the period before taxes | 9903 | -€11,197 | €31,015 | +€42,212 | |
| Income taxes | 67/77 | - | €4,789 | +€4,789 | |
| Profit (loss) for the period | 9904 | -€11,197 | €26,226 | +€37,423 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,197 | €26,226 | +€37,423 |
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 28 October 2026 via checked.be.