MMC: what changed
Two fiscal 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.
MMC
Largest movements
- Tangible fixed assets -€17,796
down €17,796 (-100.0%), from €17,796 to €0
of which Furniture and vehicles: -€15,049
- Receivables within one year -€11,030
down €11,030 (-17.3%), from €63,861 to €52,831
of which Trade receivables: -€14,249
- Cash -€5,782
down €5,782 (-81.4%), from €7,108 to €1,325
mainly Tax, wage and social debts (-€17,914) and Net result for the year (-€13,163)
- Deferred charges and accrued income +€993
up €993 (+47.7%), from €2,080 to €3,073
- Tax, wage and social debts -€17,914
down €17,914 (-99.8%), from €17,959 to €45
of which Taxes: -€17,196
- Reserves -€13,163
down €13,163 (-23.3%), from €56,383 to €43,219
- Contributions +€12,400
up €12,400 (+200.0%), from €6,200 to €18,600
- Debts after one year -€7,451
no longer reported in 2025 (was €7,451)
- Current portion of long-term debt -€6,380
no longer reported in 2025 (was €6,380)
- Gross operating margin -€119,298
down €119,298 (-99.7%), from €119,643 to €345
- Staff costs -€38,654
down €38,654 (-78.7%), from €49,138 to €10,484
- Taxes -€17,196
down €17,196 (-99.7%), from €17,241 to €45
- Depreciation -€13,364
no longer reported in 2025 (was €13,364)
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 | €95,845 | €62,230 | -€33,615 | -35.1% |
| Fixed assets | 21/28 | €22,796 | €5,000 | -€17,796 | -78.1% |
| Tangible fixed assets | 22/27 | €17,796 | €0 | -€17,796 | -100.0% |
| Plant, machinery and equipment | 23 | €2,748 | €0 | -€2,748 | -100.0% |
| Furniture and vehicles | 24 | €15,049 | €0 | -€15,049 | -100.0% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €73,049 | €57,230 | -€15,819 | -21.7% |
| Amounts receivable within one year | 40/41 | €63,861 | €52,831 | -€11,030 | -17.3% |
| Trade receivables | 40 | €14,249 | €0 | -€14,249 | -100.0% |
| Other amounts receivable | 41 | €49,612 | €52,831 | +€3,219 | +6.5% |
| Cash at bank and in hand | 54/58 | €7,108 | €1,325 | -€5,782 | -81.4% |
| Deferred charges and accrued income | 490/1 | €2,080 | €3,073 | +€993 | +47.7% |
| Total equity and liabilities | 10/49 | €95,845 | €62,230 | -€33,615 | -35.1% |
| Equity | 10/15 | €62,583 | €61,819 | -€763 | -1.2% |
| Contributions | 10/11 | €6,200 | €18,600 | +€12,400 | +200.0% |
| Reserves | 13 | €56,383 | €43,219 | -€13,163 | -23.3% |
| Distributable reserves | 133 | €56,383 | €43,219 | -€13,163 | -23.3% |
| Amounts payable | 17/49 | €33,262 | €410 | -€32,852 | -98.8% |
| Amounts payable after more than one year | 17 | €7,451 | - | -€7,451 | |
| Financial debts | 170/4 | €7,451 | - | -€7,451 | |
| Amounts payable within one year | 42/48 | €25,812 | €410 | -€25,401 | -98.4% |
| Current portion of amounts payable after more than one year | 42 | €6,380 | - | -€6,380 | |
| Trade debts | 44 | €1,472 | €366 | -€1,107 | -75.2% |
| Suppliers | 440/4 | €1,472 | €366 | -€1,107 | -75.2% |
| Taxes, remuneration and social security | 45 | €17,959 | €45 | -€17,914 | -99.8% |
| Taxes | 450/3 | €17,241 | €45 | -€17,196 | -99.7% |
| Remuneration and social security | 454/9 | €719 | - | -€719 | |
| Non-recurring operating income | 76A | - | €1,436 | +€1,436 | |
| Remuneration, social security and pensions | 62 | €49,138 | €10,484 | -€38,654 | -78.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,364 | - | -€13,364 | |
| Other operating charges | 640/8 | €880 | €393 | -€487 | -55.4% |
| Non-recurring operating charges | 66A | - | €4,732 | +€4,732 | |
| Gross operating margin | 9900 | €119,643 | €345 | -€119,298 | -99.7% |
| Operating profit (loss) | 9901 | €56,260 | -€15,265 | -€71,525 | |
| Financial income | 75/76B | €2,080 | €3,073 | +€993 | +47.7% |
| Recurring financial income | 75 | €2,080 | €3,073 | +€993 | +47.7% |
| Financial charges | 65/66B | €1,300 | €928 | -€373 | -28.7% |
| Recurring financial charges | 65 | €1,300 | €928 | -€373 | -28.7% |
| Profit (loss) for the period before taxes | 9903 | €57,040 | -€13,119 | -€70,159 | |
| Income taxes | 67/77 | €17,241 | €45 | -€17,196 | -99.7% |
| Profit (loss) for the period | 9904 | €39,800 | -€13,163 | -€52,963 | |
| Profit (loss) for the period to be appropriated | 9905 | €39,800 | -€13,163 | -€52,963 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.