MM Management: 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 Management
Largest movements
- Receivables within one year -€25,832
down €25,832 (-56.3%), from €45,874 to €20,042
of which Trade receivables: -€28,349
- Cash +€14,484
up €14,484 (+138.8%), from €10,439 to €24,924
mainly Net result for the year (+€94,572) and Receivables within one year (+€25,832)
- Tangible fixed assets -€1,798
down €1,798 (-33.7%), from €5,336 to €3,538
of which Furniture and vehicles: -€1,636
- Deferred charges and accrued income +€1,078
up €1,078 (+29.2%), from €3,696 to €4,774
- Other debts -€17,946
down €17,946 (-33.9%), from €52,870 to €34,924
- Reserves +€4,572
up €4,572 (+632.7%), from €723 to €5,295
- Tax, wage and social debts +€2,995
up €2,995 (+25.0%), from €11,958 to €14,952
- Trade debts -€1,689
down €1,689 (-93.6%), from €1,803 to €115
- Gross operating margin +€62,249
up €62,249 (+100.3%), from €62,064 to €124,313
- Taxes +€13,961
up €13,961 (+111.5%), from €12,524 to €26,485
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.
Cash bridge derived
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 | €70,353 | €58,286 | -€12,068 | -17.2% |
| Fixed assets | 21/28 | €5,336 | €3,538 | -€1,798 | -33.7% |
| Tangible fixed assets | 22/27 | €5,336 | €3,538 | -€1,798 | -33.7% |
| Plant, machinery and equipment | 23 | €1,334 | €1,171 | -€162 | -12.2% |
| Furniture and vehicles | 24 | €4,003 | €2,367 | -€1,636 | -40.9% |
| Current assets | 29/58 | €65,017 | €54,747 | -€10,270 | -15.8% |
| Amounts receivable within one year | 40/41 | €45,874 | €20,042 | -€25,832 | -56.3% |
| Trade receivables | 40 | €43,896 | €15,548 | -€28,349 | -64.6% |
| Other amounts receivable | 41 | €1,978 | €4,494 | +€2,516 | +127.2% |
| Current investments | 50/53 | €5,008 | €5,008 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €10,439 | €24,924 | +€14,484 | +138.8% |
| Deferred charges and accrued income | 490/1 | €3,696 | €4,774 | +€1,078 | +29.2% |
| Total equity and liabilities | 10/49 | €70,353 | €58,286 | -€12,068 | -17.2% |
| Equity | 10/15 | €3,723 | €8,295 | +€4,572 | +122.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €723 | €5,295 | +€4,572 | +632.7% |
| Distributable reserves | 133 | €723 | €5,295 | +€4,572 | +632.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €66,631 | €49,991 | -€16,640 | -25.0% |
| Amounts payable within one year | 42/48 | €66,631 | €49,991 | -€16,640 | -25.0% |
| Trade debts | 44 | €1,803 | €115 | -€1,689 | -93.6% |
| Suppliers | 440/4 | €1,803 | €115 | -€1,689 | -93.6% |
| Taxes, remuneration and social security | 45 | €11,958 | €14,952 | +€2,995 | +25.0% |
| Taxes | 450/3 | €11,958 | €14,952 | +€2,995 | +25.0% |
| Other amounts payable | 47/48 | €52,870 | €34,924 | -€17,946 | -33.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,616 | €2,015 | -€601 | -23.0% |
| Other operating charges | 640/8 | €566 | €1,032 | +€465 | +82.2% |
| Gross operating margin | 9900 | €62,064 | €124,313 | +€62,249 | +100.3% |
| Operating profit (loss) | 9901 | €58,882 | €121,267 | +€62,385 | +105.9% |
| Financial income | 75/76B | €798 | €0 | -€798 | -100.0% |
| Recurring financial income | 75 | €798 | €0 | -€798 | -100.0% |
| Financial charges | 65/66B | €169 | €210 | +€40 | +23.9% |
| Recurring financial charges | 65 | €169 | €210 | +€40 | +23.9% |
| Profit (loss) for the period before taxes | 9903 | €59,510 | €121,057 | +€61,547 | +103.4% |
| Income taxes | 67/77 | €12,524 | €26,485 | +€13,961 | +111.5% |
| Profit (loss) for the period | 9904 | €46,987 | €94,572 | +€47,586 | +101.3% |
| Profit (loss) for the period to be appropriated | 9905 | €46,987 | €94,572 | +€47,586 | +101.3% |
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 9 October 2026 via checked.be.