MM Land: 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 Land
Largest movements
- Stocks and contracts -€1.3m
down €1.3m (-58.1%), from €2.2m to €930,866
- Receivables within one year +€179,086
up €179,086 (+156%), from €115,000 to €294,086
of which Other amounts receivable: +€179,086
- Financial fixed assets -€100,000
down €100,000 (-100%), from €100,000 to €0
- Short-term financial debts -€1.1m
down €1.1m (-76.4%), from €1.5m to €345,841
- Debts after one year -€638,183
down €638,183 (-100%), from €638,183 to €0
- Reserves +€556,206
up €556,206 (+396%), from €140,471 to €696,678
of which Distributable reserves: +€551,337
- Current portion of long-term debt +€87,979
new in 2025: €87,979
- Accrued charges and deferred income -€66,835
down €66,835 (-100.0%), from €66,838 to €3
- Gross operating margin +€603,621
up €603,621 (+428%), from €141,077 to €744,698
- Taxes +€151,195
up €151,195 (+442%), from €34,207 to €185,402
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 | €2,453,842 | €1,234,002 | -€1.2m | -49.7% |
| Fixed assets | 21/28 | €100,000 | €0 | -€100,000 | -100% |
| Financial fixed assets | 28 | €100,000 | €0 | -€100,000 | -100% |
| Current assets | 29/58 | €2,353,842 | €1,234,002 | -€1.1m | -47.6% |
| Stocks and contracts in progress | 3 | €2,221,824 | €930,866 | -€1.3m | -58.1% |
| Stocks | 30/36 | €2,221,824 | €930,866 | -€1.3m | -58.1% |
| Amounts receivable within one year | 40/41 | €115,000 | €294,086 | +€179,086 | +156% |
| Trade receivables | 40 | €115,000 | €115,000 | = | 0.0% |
| Other amounts receivable | 41 | - | €179,086 | +€179,086 | |
| Cash at bank and in hand | 54/58 | €16,975 | €6,884 | -€10,091 | -59.4% |
| Deferred charges and accrued income | 490/1 | €43 | €2,166 | +€2,123 | +4,900% |
| Total equity and liabilities | 10/49 | €2,453,842 | €1,234,002 | -€1.2m | -49.7% |
| Equity | 10/15 | €240,471 | €796,678 | +€556,206 | +231% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €140,471 | €696,678 | +€556,206 | +396% |
| Non-distributable reserves | 130/1 | €5,131 | €10,000 | +€4,869 | +94.9% |
| Legal reserve | 130 | €5,131 | €10,000 | +€4,869 | +94.9% |
| Distributable reserves | 133 | €135,340 | €686,678 | +€551,337 | +407% |
| Amounts payable | 17/49 | €2,213,371 | €437,324 | -€1.8m | -80.2% |
| Amounts payable after more than one year | 17 | €638,183 | €0 | -€638,183 | -100% |
| Financial debts | 170/4 | €638,183 | €0 | -€638,183 | -100% |
| Amounts payable within one year | 42/48 | €1,508,350 | €437,321 | -€1.1m | -71.0% |
| Current portion of amounts payable after more than one year | 42 | - | €87,979 | +€87,979 | |
| Financial debts | 43 | €1,466,237 | €345,841 | -€1.1m | -76.4% |
| Credit institutions | 430/8 | €1,466,237 | €345,841 | -€1.1m | -76.4% |
| Trade debts | 44 | €6,788 | €3,027 | -€3,761 | -55.4% |
| Suppliers | 440/4 | €6,788 | €3,027 | -€3,761 | -55.4% |
| Taxes, remuneration and social security | 45 | €34,207 | €0 | -€34,207 | -100% |
| Taxes | 450/3 | €34,207 | €0 | -€34,207 | -100% |
| Other amounts payable | 47/48 | €1,119 | €475 | -€644 | -57.6% |
| Accrued charges and deferred income | 492/3 | €66,838 | €3 | -€66,835 | -100.0% |
| Other operating charges | 640/8 | €1,108 | €1,180 | +€72 | +6.5% |
| Gross operating margin | 9900 | €141,077 | €744,698 | +€603,621 | +428% |
| Operating profit (loss) | 9901 | €139,969 | €743,518 | +€603,549 | +431% |
| Financial income | 75/76B | €2 | €2,121 | +€2,119 | +110,963% |
| Recurring financial income | 75 | €2 | €2,121 | +€2,119 | +110,963% |
| Financial charges | 65/66B | €3,142 | €4,031 | +€889 | +28.3% |
| Recurring financial charges | 65 | €3,142 | €4,031 | +€889 | +28.3% |
| Profit (loss) for the period before taxes | 9903 | €136,829 | €741,608 | +€604,780 | +442% |
| Income taxes | 67/77 | €34,207 | €185,402 | +€151,195 | +442% |
| Profit (loss) for the period | 9904 | €102,622 | €556,206 | +€453,585 | +442% |
| Profit (loss) for the period to be appropriated | 9905 | €102,622 | €556,206 | +€453,585 | +442% |
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 27 October 2026 via checked.be.