MM MarCom: 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 MarCom
Largest movements
- Cash -€33,945
down €33,945 (-42.8%), from €79,302 to €45,357
mainly Net result for the year (-€25,495) and Tax, wage and social debts (-€4,182)
- Deferred charges and accrued income +€2,812
up €2,812 (+386%), from €728 to €3,540
- Receivables within one year +€2,738
up €2,738 (+7.9%), from €34,726 to €37,464
of which Trade receivables: +€1,404
- Reserves -€25,495
down €25,495 (-26.0%), from €97,876 to €72,381
- Tax, wage and social debts -€4,182
no longer reported in 2025 (was €4,182)
- Gross operating margin -€101,340
down €101,340, from €79,528 to -€21,812
- Taxes -€16,182
no longer reported in 2025 (was €16,182)
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 | €115,133 | €86,360 | -€28,773 | -25.0% |
| Fixed assets | 21/28 | €378 | - | -€378 | |
| Tangible fixed assets | 22/27 | €378 | - | -€378 | |
| Furniture and vehicles | 24 | €378 | - | -€378 | |
| Current assets | 29/58 | €114,755 | €86,360 | -€28,395 | -24.7% |
| Amounts receivable within one year | 40/41 | €34,726 | €37,464 | +€2,738 | +7.9% |
| Trade receivables | 40 | €23,986 | €25,390 | +€1,404 | +5.9% |
| Other amounts receivable | 41 | €10,739 | €12,074 | +€1,335 | +12.4% |
| Cash at bank and in hand | 54/58 | €79,302 | €45,357 | -€33,945 | -42.8% |
| Deferred charges and accrued income | 490/1 | €728 | €3,540 | +€2,812 | +386% |
| Total equity and liabilities | 10/49 | €115,133 | €86,360 | -€28,773 | -25.0% |
| Equity | 10/15 | €110,276 | €84,781 | -€25,495 | -23.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €97,876 | €72,381 | -€25,495 | -26.0% |
| Distributable reserves | 133 | €97,876 | €72,381 | -€25,495 | -26.0% |
| Amounts payable | 17/49 | €4,857 | €1,579 | -€3,278 | -67.5% |
| Amounts payable within one year | 42/48 | €4,857 | €1,579 | -€3,278 | -67.5% |
| Trade debts | 44 | €675 | €1,579 | +€904 | +134% |
| Suppliers | 440/4 | €675 | €1,579 | +€904 | +134% |
| Taxes, remuneration and social security | 45 | €4,182 | - | -€4,182 | |
| Taxes | 450/3 | €4,182 | - | -€4,182 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €580 | €378 | -€202 | -34.8% |
| Other operating charges | 640/8 | €126 | €119 | -€7 | -5.6% |
| Gross operating margin | 9900 | €79,528 | -€21,812 | -€101,340 | |
| Operating profit (loss) | 9901 | €78,822 | -€22,309 | -€101,131 | |
| Financial income | 75/76B | €397 | €582 | +€184 | +46.5% |
| Recurring financial income | 75 | €397 | €582 | +€184 | +46.5% |
| Financial charges | 65/66B | €3,578 | €3,768 | +€189 | +5.3% |
| Recurring financial charges | 65 | €3,578 | €3,768 | +€189 | +5.3% |
| Profit (loss) for the period before taxes | 9903 | €75,641 | -€25,495 | -€101,136 | |
| Income taxes | 67/77 | €16,182 | - | -€16,182 | |
| Profit (loss) for the period | 9904 | €59,459 | -€25,495 | -€84,954 | |
| Profit (loss) for the period to be appropriated | 9905 | €59,459 | -€25,495 | -€84,954 |
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 14 October 2026 via checked.be.