MM DISTRIBUTIONS: 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 DISTRIBUTIONS
Largest movements
- Tangible fixed assets -€7,073
down €7,073 (-3.6%), from €197,604 to €190,531
of which Land and buildings: -€6,696
- Cash -€5,469
down €5,469 (-76.2%), from €7,177 to €1,708
mainly Investment in fixed assets (net) (-€22,826) and Other debts (-€10,393)
- Profit (loss) carried forward +€11,354
up €11,354 (+18.5%), from €61,478 to €72,832
- Other debts -€10,393
down €10,393 (-12.1%), from €85,625 to €75,232
- Debts after one year -€4,875
down €4,875 (-37.5%), from €13,016 to €8,141
- Tax, wage and social debts -€4,169
down €4,169 (-49.2%), from €8,479 to €4,310
- Current portion of long-term debt -€4,055
down €4,055 (-45.4%), from €8,930 to €4,875
- Gross operating margin +€8,826
up €8,826 (+22.2%), from €39,838 to €48,664
- Depreciation +€5,137
up €5,137 (+20.7%), from €24,762 to €29,899
- Taxes +€848
up €848 (+24.5%), from €3,460 to €4,308
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 | €206,635 | €193,391 | -€13,244 | -6.4% |
| Fixed assets | 21/28 | €198,219 | €191,146 | -€7,073 | -3.6% |
| Tangible fixed assets | 22/27 | €197,604 | €190,531 | -€7,073 | -3.6% |
| Land and buildings | 22 | €62,250 | €55,554 | -€6,696 | -10.8% |
| Plant, machinery and equipment | 23 | €130,912 | €131,394 | +€482 | +0.4% |
| Furniture and vehicles | 24 | €4,442 | €3,583 | -€859 | -19.3% |
| Financial fixed assets | 28 | €615 | €615 | = | 0.0% |
| Current assets | 29/58 | €8,416 | €2,245 | -€6,171 | -73.3% |
| Cash at bank and in hand | 54/58 | €7,177 | €1,708 | -€5,469 | -76.2% |
| Deferred charges and accrued income | 490/1 | €1,239 | €537 | -€702 | -56.7% |
| Total equity and liabilities | 10/49 | €206,635 | €193,391 | -€13,244 | -6.4% |
| Equity | 10/15 | €86,929 | €98,283 | +€11,354 | +13.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €6,859 | €6,859 | = | 0.0% |
| Distributable reserves | 133 | €6,859 | €6,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €61,478 | €72,832 | +€11,354 | +18.5% |
| Amounts payable | 17/49 | €119,706 | €95,108 | -€24,598 | -20.5% |
| Amounts payable after more than one year | 17 | €13,016 | €8,141 | -€4,875 | -37.5% |
| Financial debts | 170/4 | €13,016 | €8,141 | -€4,875 | -37.5% |
| Amounts payable within one year | 42/48 | €104,730 | €85,697 | -€19,033 | -18.2% |
| Current portion of amounts payable after more than one year | 42 | €8,930 | €4,875 | -€4,055 | -45.4% |
| Trade debts | 44 | €1,696 | €1,280 | -€416 | -24.5% |
| Suppliers | 440/4 | €1,696 | €1,280 | -€416 | -24.5% |
| Taxes, remuneration and social security | 45 | €8,479 | €4,310 | -€4,169 | -49.2% |
| Taxes | 450/3 | €8,479 | €4,310 | -€4,169 | -49.2% |
| Other amounts payable | 47/48 | €85,625 | €75,232 | -€10,393 | -12.1% |
| Accrued charges and deferred income | 492/3 | €1,960 | €1,270 | -€690 | -35.2% |
| Non-recurring operating income | 76A | - | €605 | +€605 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,762 | €29,899 | +€5,137 | +20.7% |
| Other operating charges | 640/8 | €2,402 | €2,421 | +€19 | +0.8% |
| Gross operating margin | 9900 | €39,838 | €48,664 | +€8,826 | +22.2% |
| Operating profit (loss) | 9901 | €12,674 | €16,344 | +€3,670 | +29.0% |
| Financial charges | 65/66B | €946 | €682 | -€264 | -27.9% |
| Recurring financial charges | 65 | €946 | €682 | -€264 | -27.9% |
| Profit (loss) for the period before taxes | 9903 | €11,728 | €15,662 | +€3,934 | +33.5% |
| Income taxes | 67/77 | €3,460 | €4,308 | +€848 | +24.5% |
| Profit (loss) for the period | 9904 | €8,268 | €11,354 | +€3,086 | +37.3% |
| Profit (loss) for the period to be appropriated | 9905 | €8,268 | €11,354 | +€3,086 | +37.3% |
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 16 October 2026 via checked.be.