MMA NET SEC: 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.
MMA NET SEC
Largest movements
- Cash +€61,114
up €61,114 (+70.2%), from €87,039 to €148,153
mainly Net result for the year (+€60,696) and Receivables within one year (+€18,202)
- Receivables within one year -€18,202
down €18,202 (-53.6%), from €33,964 to €15,762
of which Trade receivables: -€16,884
- Deferred charges and accrued income +€10,188
up €10,188 (+502%), from €2,031 to €12,219
- Tangible fixed assets -€9,106
down €9,106 (-34.0%), from €26,802 to €17,696
- Profit (loss) carried forward +€60,696
up €60,696 (+92.7%), from €65,467 to €126,163
- Tax, wage and social debts -€15,130
down €15,130 (-63.9%), from €23,692 to €8,562
- Other debts -€2,278
down €2,278 (-4.1%), from €55,676 to €53,398
- Gross operating margin +€18,993
up €18,993 (+27.7%), from €68,654 to €87,647
- Taxes +€3,763
up €3,763 (+27.8%), from €13,533 to €17,296
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 | €149,835 | €193,830 | +€43,994 | +29.4% |
| Fixed assets | 21/28 | €26,802 | €17,696 | -€9,106 | -34.0% |
| Tangible fixed assets | 22/27 | €26,802 | €17,696 | -€9,106 | -34.0% |
| Furniture and vehicles | 24 | €26,802 | €17,696 | -€9,106 | -34.0% |
| Current assets | 29/58 | €123,034 | €176,134 | +€53,100 | +43.2% |
| Amounts receivable within one year | 40/41 | €33,964 | €15,762 | -€18,202 | -53.6% |
| Trade receivables | 40 | €32,464 | €15,580 | -€16,884 | -52.0% |
| Other amounts receivable | 41 | €1,500 | €182 | -€1,318 | -87.8% |
| Cash at bank and in hand | 54/58 | €87,039 | €148,153 | +€61,114 | +70.2% |
| Deferred charges and accrued income | 490/1 | €2,031 | €12,219 | +€10,188 | +502% |
| Total equity and liabilities | 10/49 | €149,835 | €193,830 | +€43,994 | +29.4% |
| Equity | 10/15 | €70,467 | €131,163 | +€60,696 | +86.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €65,467 | €126,163 | +€60,696 | +92.7% |
| Amounts payable | 17/49 | €79,368 | €62,667 | -€16,702 | -21.0% |
| Amounts payable within one year | 42/48 | €79,368 | €62,107 | -€17,262 | -21.7% |
| Trade debts | 44 | - | €146 | +€146 | |
| Suppliers | 440/4 | - | €146 | +€146 | |
| Taxes, remuneration and social security | 45 | €23,692 | €8,562 | -€15,130 | -63.9% |
| Taxes | 450/3 | €23,692 | €8,562 | -€15,130 | -63.9% |
| Other amounts payable | 47/48 | €55,676 | €53,398 | -€2,278 | -4.1% |
| Accrued charges and deferred income | 492/3 | - | €560 | +€560 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,106 | €9,106 | = | 0.0% |
| Other operating charges | 640/8 | €138 | €384 | +€246 | +178% |
| Gross operating margin | 9900 | €68,654 | €87,647 | +€18,993 | +27.7% |
| Operating profit (loss) | 9901 | €59,410 | €78,157 | +€18,747 | +31.6% |
| Financial income | 75/76B | €87 | €1 | -€87 | -99.4% |
| Recurring financial income | 75 | €87 | €1 | -€87 | -99.4% |
| Financial charges | 65/66B | €263 | €165 | -€98 | -37.2% |
| Recurring financial charges | 65 | €263 | €165 | -€98 | -37.2% |
| Profit (loss) for the period before taxes | 9903 | €59,234 | €77,992 | +€18,758 | +31.7% |
| Income taxes | 67/77 | €13,533 | €17,296 | +€3,763 | +27.8% |
| Profit (loss) for the period | 9904 | €45,701 | €60,696 | +€14,995 | +32.8% |
| Profit (loss) for the period to be appropriated | 9905 | €45,701 | €60,696 | +€14,995 | +32.8% |
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.