MM Equestrian Services: 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 Equestrian Services
Largest movements
- Cash +€11,428
up €11,428 (+145%), from €7,907 to €19,335
mainly Net result for the year (+€9,254) and Receivables within one year (+€5,450)
- Receivables within one year -€5,450
down €5,450 (-19.7%), from €27,719 to €22,269
of which Trade receivables: -€4,999
- Tangible fixed assets -€3,000
down €3,000 (-50.0%), from €6,000 to €3,000
- Profit (loss) carried forward +€7,588
up €7,588 (+358%), from €2,119 to €9,707
- Other debts -€6,004
down €6,004 (-14.5%), from €41,407 to €35,403
- Tax, wage and social debts +€2,561
up €2,561 (+140%), from €1,825 to €4,386
- Trade debts -€2,108
down €2,108 (-16.8%), from €12,561 to €10,453
- Short-term financial debts +€734
new in 2025: €734
- Gross operating margin +€22,561
up €22,561 (+341%), from €6,618 to €29,179
- Write-downs +€13,300
new in 2025: €13,300
- Taxes +€2,093
up €2,093 (+356%), from €589 to €2,681
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 | €60,912 | €63,683 | +€2,771 | +4.5% |
| Fixed assets | 21/28 | €6,000 | €3,000 | -€3,000 | -50.0% |
| Tangible fixed assets | 22/27 | €6,000 | €3,000 | -€3,000 | -50.0% |
| Furniture and vehicles | 24 | €6,000 | €3,000 | -€3,000 | -50.0% |
| Current assets | 29/58 | €54,912 | €60,683 | +€5,771 | +10.5% |
| Stocks and contracts in progress | 3 | €18,339 | €18,095 | -€244 | -1.3% |
| Stocks | 30/36 | €18,339 | €18,095 | -€244 | -1.3% |
| Amounts receivable within one year | 40/41 | €27,719 | €22,269 | -€5,450 | -19.7% |
| Trade receivables | 40 | €24,251 | €19,252 | -€4,999 | -20.6% |
| Other amounts receivable | 41 | €3,468 | €3,017 | -€451 | -13.0% |
| Cash at bank and in hand | 54/58 | €7,907 | €19,335 | +€11,428 | +145% |
| Deferred charges and accrued income | 490/1 | €948 | €984 | +€37 | +3.9% |
| Total equity and liabilities | 10/49 | €60,912 | €63,683 | +€2,771 | +4.5% |
| Equity | 10/15 | €5,119 | €12,707 | +€7,588 | +148% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,119 | €9,707 | +€7,588 | +358% |
| Amounts payable | 17/49 | €55,793 | €50,977 | -€4,817 | -8.6% |
| Amounts payable within one year | 42/48 | €55,793 | €50,977 | -€4,817 | -8.6% |
| Financial debts | 43 | - | €734 | +€734 | |
| Credit institutions | 430/8 | - | €734 | +€734 | |
| Trade debts | 44 | €12,561 | €10,453 | -€2,108 | -16.8% |
| Suppliers | 440/4 | €12,561 | €10,453 | -€2,108 | -16.8% |
| Taxes, remuneration and social security | 45 | €1,825 | €4,386 | +€2,561 | +140% |
| Taxes | 450/3 | €1,825 | €4,386 | +€2,561 | +140% |
| Other amounts payable | 47/48 | €41,407 | €35,403 | -€6,004 | -14.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,000 | €3,000 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €13,300 | +€13,300 | |
| Other operating charges | 640/8 | €829 | €868 | +€39 | +4.6% |
| Gross operating margin | 9900 | €6,618 | €29,179 | +€22,561 | +341% |
| Operating profit (loss) | 9901 | €2,788 | €12,011 | +€9,223 | +331% |
| Financial income | 75/76B | €31 | €0 | -€31 | -100.0% |
| Recurring financial income | 75 | €31 | €0 | -€31 | -100.0% |
| Financial charges | 65/66B | €78 | €76 | -€2 | -2.1% |
| Recurring financial charges | 65 | €78 | €76 | -€2 | -2.1% |
| Profit (loss) for the period before taxes | 9903 | €2,742 | €11,935 | +€9,193 | +335% |
| Income taxes | 67/77 | €589 | €2,681 | +€2,093 | +356% |
| Profit (loss) for the period | 9904 | €2,153 | €9,254 | +€7,101 | +330% |
| Profit (loss) for the period to be appropriated | 9905 | €2,153 | €9,254 | +€7,101 | +330% |
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 24 October 2026 via checked.be.