MM Development: 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 Development
Largest movements
- Tangible fixed assets -€40,618
down €40,618 (-3.1%), from €1.3m to €1.3m
of which Land and buildings: -€38,746
- Receivables within one year -€35,767
down €35,767 (-48.0%), from €74,521 to €38,754
of which Trade receivables: -€35,784
- Cash +€14,196
up €14,196 (+69.5%), from €20,430 to €34,625
mainly Depreciation (+€47,961) and Receivables within one year (+€35,767)
- Debts after one year -€37,503
down €37,503 (-3.0%), from €1.3m to €1.2m
of which Financial debts: -€67,503
- Trade debts -€35,506
down €35,506 (-49.1%), from €72,261 to €36,756
- Gross operating margin +€14,779
up €14,779 (+9.1%), from €163,205 to €177,985
- Other operating charges +€2,669
up €2,669 (+93.3%), from €2,862 to €5,531
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 | €1,401,834 | €1,338,791 | -€63,043 | -4.5% |
| Fixed assets | 21/28 | €1,306,030 | €1,265,412 | -€40,618 | -3.1% |
| Tangible fixed assets | 22/27 | €1,305,630 | €1,265,012 | -€40,618 | -3.1% |
| Land and buildings | 22 | €1,298,039 | €1,259,292 | -€38,746 | -3.0% |
| Plant, machinery and equipment | 23 | €1,620 | €1,426 | -€194 | -12.0% |
| Furniture and vehicles | 24 | €5,971 | €4,294 | -€1,677 | -28.1% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €95,804 | €73,379 | -€22,425 | -23.4% |
| Amounts receivable within one year | 40/41 | €74,521 | €38,754 | -€35,767 | -48.0% |
| Trade receivables | 40 | €74,514 | €38,730 | -€35,784 | -48.0% |
| Other amounts receivable | 41 | €7 | €24 | +€17 | +227% |
| Cash at bank and in hand | 54/58 | €20,430 | €34,625 | +€14,196 | +69.5% |
| Deferred charges and accrued income | 490/1 | €854 | - | -€854 | |
| Total equity and liabilities | 10/49 | €1,401,834 | €1,338,791 | -€63,043 | -4.5% |
| Equity | 10/15 | -€54,769 | -€54,244 | +€525 | +1.0% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€154,769 | -€154,244 | +€525 | +0.3% |
| Amounts payable | 17/49 | €1,456,604 | €1,393,036 | -€63,568 | -4.4% |
| Amounts payable after more than one year | 17 | €1,267,866 | €1,230,363 | -€37,503 | -3.0% |
| Financial debts | 170/4 | €1,087,566 | €1,020,063 | -€67,503 | -6.2% |
| Other amounts payable | 178/9 | €180,300 | €210,300 | +€30,000 | +16.6% |
| Amounts payable within one year | 42/48 | €187,594 | €158,034 | -€29,560 | -15.8% |
| Current portion of amounts payable after more than one year | 42 | €65,818 | €67,503 | +€1,685 | +2.6% |
| Trade debts | 44 | €72,261 | €36,756 | -€35,506 | -49.1% |
| Suppliers | 440/4 | €72,261 | €36,756 | -€35,506 | -49.1% |
| Taxes, remuneration and social security | 45 | €15,293 | €19,511 | +€4,218 | +27.6% |
| Taxes | 450/3 | - | €4,811 | +€4,811 | |
| Remuneration and social security | 454/9 | €15,293 | €14,700 | -€592 | -3.9% |
| Other amounts payable | 47/48 | €34,222 | €34,264 | +€43 | +0.1% |
| Accrued charges and deferred income | 492/3 | €1,144 | €4,639 | +€3,495 | +305% |
| Remuneration, social security and pensions | 62 | €94,088 | €94,562 | +€474 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,301 | €47,961 | -€340 | -0.7% |
| Other operating charges | 640/8 | €2,862 | €5,531 | +€2,669 | +93.3% |
| Gross operating margin | 9900 | €163,205 | €177,985 | +€14,779 | +9.1% |
| Operating profit (loss) | 9901 | €17,955 | €29,931 | +€11,976 | +66.7% |
| Financial income | 75/76B | €34 | €167 | +€133 | +388% |
| Recurring financial income | 75 | €34 | €167 | +€133 | +388% |
| Financial charges | 65/66B | €30,793 | €29,573 | -€1,220 | -4.0% |
| Recurring financial charges | 65 | €30,793 | €29,573 | -€1,220 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | -€12,803 | €525 | +€13,328 | |
| Income taxes | 67/77 | -€7 | - | +€7 | |
| Profit (loss) for the period | 9904 | -€12,796 | €525 | +€13,321 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,796 | €525 | +€13,321 |
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 16 October 2026 via checked.be.