MM TRADE: 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 TRADE
Largest movements
- Receivables within one year -€724,776
down €724,776 (-19.5%), from €3.7m to €3.0m
of which Trade receivables: -€662,961
- Cash +€601,354
up €601,354 (+170%), from €353,096 to €954,450
mainly Receivables within one year (+€724,776) and Net result for the year (+€608,204)
- Tangible fixed assets -€187,955
down €187,955 (-33.9%), from €553,973 to €366,018
of which Land and buildings: -€267,632
- Stocks and contracts +€79,419
up €79,419 (+255%), from €31,113 to €110,532
- Reserves +€1.7m
up €1.7m (+141,066%), from €1,240 to €1.8m
- Profit (loss) carried forward -€1.7m
down €1.7m (-100%), from €1.7m to €0
- Short-term financial debts -€300,000
down €300,000 (-100%), from €300,000 to €0
- Other debts -€126,961
down €126,961 (-6.8%), from €1.9m to €1.7m
- Trade debts +€106,912
up €106,912 (+18.1%), from €591,534 to €698,446
- Depreciation -€71,697
down €71,697 (-88.6%), from €80,895 to €9,198
- Gross operating margin +€29,613
up €29,613 (+2.7%), from €1.1m to €1.1m
- Write-downs +€26,257
up €26,257 (+63.9%), from -€41,086 to -€14,829
- Taxes +€20,767
up €20,767 (+10.9%), from €190,141 to €210,909
- Other operating charges +€16,737
up €16,737 (+425%), from €3,939 to €20,677
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 | €4,653,598 | €4,421,640 | -€231,958 | -5.0% |
| Fixed assets | 21/28 | €553,973 | €366,018 | -€187,955 | -33.9% |
| Tangible fixed assets | 22/27 | €553,973 | €366,018 | -€187,955 | -33.9% |
| Land and buildings | 22 | €500,000 | €232,368 | -€267,632 | -53.5% |
| Plant, machinery and equipment | 23 | - | €6,095 | +€6,095 | |
| Furniture and vehicles | 24 | €53,973 | €127,555 | +€73,582 | +136% |
| Current assets | 29/58 | €4,099,625 | €4,055,622 | -€44,003 | -1.1% |
| Stocks and contracts in progress | 3 | €31,113 | €110,532 | +€79,419 | +255% |
| Stocks | 30/36 | €31,113 | €110,532 | +€79,419 | +255% |
| Amounts receivable within one year | 40/41 | €3,715,416 | €2,990,640 | -€724,776 | -19.5% |
| Trade receivables | 40 | €3,590,536 | €2,927,574 | -€662,961 | -18.5% |
| Other amounts receivable | 41 | €124,880 | €63,066 | -€61,814 | -49.5% |
| Cash at bank and in hand | 54/58 | €353,096 | €954,450 | +€601,354 | +170% |
| Total equity and liabilities | 10/49 | €4,653,598 | €4,421,640 | -€231,958 | -5.0% |
| Equity | 10/15 | €1,696,829 | €1,769,062 | +€72,232 | +4.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,240 | €1,750,462 | +€1.7m | +141,066% |
| Distributable reserves | 133 | €1,240 | €1,750,462 | +€1.7m | +141,066% |
| Profit (loss) carried forward | 14 | €1,676,989 | €0 | -€1.7m | -100% |
| Amounts payable | 17/49 | €2,956,768 | €2,652,578 | -€304,190 | -10.3% |
| Amounts payable within one year | 42/48 | €2,834,854 | €2,529,683 | -€305,171 | -10.8% |
| Current portion of amounts payable after more than one year | 42 | €66,667 | €60,000 | -€6,667 | -10.0% |
| Financial debts | 43 | €300,000 | €0 | -€300,000 | -100% |
| Credit institutions | 430/8 | €300,000 | €0 | -€300,000 | -100% |
| Trade debts | 44 | €591,534 | €698,446 | +€106,912 | +18.1% |
| Suppliers | 440/4 | €591,534 | €698,446 | +€106,912 | +18.1% |
| Taxes, remuneration and social security | 45 | €17,767 | €39,312 | +€21,545 | +121% |
| Taxes | 450/3 | €0 | €20,909 | +€20,909 | |
| Remuneration and social security | 454/9 | €17,767 | €18,403 | +€636 | +3.6% |
| Other amounts payable | 47/48 | €1,858,886 | €1,731,925 | -€126,961 | -6.8% |
| Accrued charges and deferred income | 492/3 | €121,914 | €122,895 | +€981 | +0.8% |
| Non-recurring operating income | 76A | - | €28,091 | +€28,091 | |
| Remuneration, social security and pensions | 62 | €159,313 | €146,647 | -€12,667 | -8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,895 | €9,198 | -€71,697 | -88.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€41,086 | -€14,829 | +€26,257 | +63.9% |
| Other operating charges | 640/8 | €3,939 | €20,677 | +€16,737 | +425% |
| Gross operating margin | 9900 | €1,083,094 | €1,112,707 | +€29,613 | +2.7% |
| Operating profit (loss) | 9901 | €880,032 | €951,014 | +€70,982 | +8.1% |
| Financial income | 75/76B | €44 | €1,598 | +€1,555 | +3,547% |
| Recurring financial income | 75 | €44 | €1,598 | +€1,555 | +3,547% |
| Financial charges | 65/66B | €142,927 | €133,500 | -€9,427 | -6.6% |
| Recurring financial charges | 65 | €142,927 | €133,500 | -€9,427 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | €737,149 | €819,113 | +€81,964 | +11.1% |
| Income taxes | 67/77 | €190,141 | €210,909 | +€20,767 | +10.9% |
| Profit (loss) for the period | 9904 | €547,008 | €608,204 | +€61,196 | +11.2% |
| Profit (loss) for the period to be appropriated | 9905 | €547,008 | €608,204 | +€61,196 | +11.2% |
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 19 October 2026 via checked.be.