MM Motivation: 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 Motivation
Largest movements
- Cash +€93,656
up €93,656 (+112%), from €83,469 to €177,125
mainly Net result for the year (+€83,288) and Investment in fixed assets (net) (+€39,393)
- Financial fixed assets -€40,794
down €40,794 (-53.3%), from €76,592 to €35,798
- Reserves +€41,900
up €41,900 (+13.1%), from €319,060 to €360,960
of which Distributable reserves: +€43,760
- Other debts +€12,300
up €12,300 (+42.4%), from €29,000 to €41,300
- Tax, wage and social debts -€5,476
down €5,476 (-16.8%), from €32,621 to €27,145
of which Taxes: -€3,931
- Gross operating margin +€25,872
up €25,872 (+17.8%), from €145,565 to €171,437
- Financial income +€9,488
up €9,488 (+69.3%), from €13,686 to €23,174
- Staff costs +€3,064
up €3,064 (+3.9%), from €78,466 to €81,530
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 | €498,343 | €547,223 | +€48,880 | +9.8% |
| Fixed assets | 21/28 | €91,344 | €47,688 | -€43,656 | -47.8% |
| Tangible fixed assets | 22/27 | €14,752 | €11,890 | -€2,862 | -19.4% |
| Furniture and vehicles | 24 | €9,605 | €8,560 | -€1,046 | -10.9% |
| Other tangible fixed assets | 26 | €5,147 | €3,330 | -€1,816 | -35.3% |
| Financial fixed assets | 28 | €76,592 | €35,798 | -€40,794 | -53.3% |
| Current assets | 29/58 | €406,999 | €499,535 | +€92,536 | +22.7% |
| Amounts receivable after more than one year | 29 | €321,590 | €320,398 | -€1,193 | -0.4% |
| Other amounts receivable | 291 | €321,590 | €320,398 | -€1,193 | -0.4% |
| Amounts receivable within one year | 40/41 | €1,108 | €1,122 | +€14 | +1.3% |
| Other amounts receivable | 41 | €1,108 | €1,122 | +€14 | +1.3% |
| Cash at bank and in hand | 54/58 | €83,469 | €177,125 | +€93,656 | +112% |
| Deferred charges and accrued income | 490/1 | €832 | €891 | +€59 | +7.0% |
| Total equity and liabilities | 10/49 | €498,343 | €547,223 | +€48,880 | +9.8% |
| Equity | 10/15 | €394,705 | €436,693 | +€41,988 | +10.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | - | -€6,200 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Uncalled capital | 101 | €12,400 | - | -€12,400 | |
| Contributions outside capital | 11 | - | €6,200 | +€6,200 | |
| Other | 1109/19 | - | €6,200 | +€6,200 | |
| Reserves | 13 | €319,060 | €360,960 | +€41,900 | +13.1% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €317,200 | €360,960 | +€43,760 | +13.8% |
| Profit (loss) carried forward | 14 | €69,445 | €69,533 | +€88 | +0.1% |
| Amounts payable | 17/49 | €103,638 | €110,530 | +€6,892 | +6.6% |
| Amounts payable within one year | 42/48 | €103,638 | €110,530 | +€6,892 | +6.6% |
| Current portion of amounts payable after more than one year | 42 | €6,015 | €5,186 | -€829 | -13.8% |
| Trade debts | 44 | €36,002 | €36,899 | +€897 | +2.5% |
| Suppliers | 440/4 | €36,002 | €36,899 | +€897 | +2.5% |
| Taxes, remuneration and social security | 45 | €32,621 | €27,145 | -€5,476 | -16.8% |
| Taxes | 450/3 | €24,363 | €20,432 | -€3,931 | -16.1% |
| Remuneration and social security | 454/9 | €8,258 | €6,713 | -€1,545 | -18.7% |
| Other amounts payable | 47/48 | €29,000 | €41,300 | +€12,300 | +42.4% |
| Non-recurring operating income | 76A | - | €33,326 | +€33,326 | |
| Remuneration, social security and pensions | 62 | €78,466 | €81,530 | +€3,064 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,332 | €4,264 | +€932 | +28.0% |
| Other operating charges | 640/8 | €576 | €1,321 | +€745 | +129% |
| Gross operating margin | 9900 | €145,565 | €171,437 | +€25,872 | +17.8% |
| Operating profit (loss) | 9901 | €63,190 | €84,322 | +€21,132 | +33.4% |
| Financial income | 75/76B | €13,686 | €23,174 | +€9,488 | +69.3% |
| Recurring financial income | 75 | €13,686 | €23,174 | +€9,488 | +69.3% |
| Financial charges | 65/66B | €313 | €649 | +€336 | +108% |
| Recurring financial charges | 65 | €313 | €649 | +€336 | +108% |
| Profit (loss) for the period before taxes | 9903 | €76,564 | €106,847 | +€30,283 | +39.6% |
| Income taxes | 67/77 | €24,075 | €23,560 | -€515 | -2.1% |
| Profit (loss) for the period | 9904 | €52,489 | €83,288 | +€30,798 | +58.7% |
| Profit (loss) for the period to be appropriated | 9905 | €52,489 | €83,288 | +€30,798 | +58.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.