MMC: 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.
MMC
Largest movements
- Receivables within one year +€244,426
up €244,426 (+45.4%), from €537,982 to €782,408
of which Trade receivables: +€240,511
- Stocks and contracts +€152,865
up €152,865 (+20.5%), from €744,469 to €897,335
- Cash -€69,202
down €69,202 (-49.7%), from €139,275 to €70,073
mainly Receivables within one year (-€244,426) and Stocks and contracts (-€152,865)
- Trade debts +€167,021
up €167,021 (+256%), from €65,319 to €232,340
- Short-term financial debts +€154,783
up €154,783 (+32.6%), from €475,444 to €630,228
- Debts after one year -€57,416
down €57,416 (-44.3%), from €129,543 to €72,127
- Reserves +€36,730
up €36,730 (+4.6%), from €806,167 to €842,897
- Gross operating margin -€42,222
down €42,222 (-34.0%), from €124,277 to €82,055
- Financial charges -€20,711
down €20,711 (-59.4%), from €34,861 to €14,150
- Taxes -€6,925
down €6,925 (-26.5%), from €26,086 to €19,160
- Financial income -€1,844
down €1,844 (-29.8%), from €6,190 to €4,346
- Depreciation +€1,769
up €1,769 (+15.7%), from €11,297 to €13,067
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 | €1,751,348 | €2,081,936 | +€330,588 | +18.9% |
| Fixed assets | 21/28 | €303,366 | €294,116 | -€9,250 | -3.0% |
| Tangible fixed assets | 22/27 | €30,680 | €21,431 | -€9,250 | -30.1% |
| Plant, machinery and equipment | 23 | €5,621 | €4,254 | -€1,367 | -24.3% |
| Furniture and vehicles | 24 | €20,904 | €13,680 | -€7,224 | -34.6% |
| Other tangible fixed assets | 26 | €4,156 | €3,496 | -€660 | -15.9% |
| Financial fixed assets | 28 | €272,686 | €272,686 | = | 0.0% |
| Current assets | 29/58 | €1,447,982 | €1,787,820 | +€339,838 | +23.5% |
| Amounts receivable after more than one year | 29 | €7,000 | €7,000 | = | 0.0% |
| Trade receivables | 290 | €7,000 | €7,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €744,469 | €897,335 | +€152,865 | +20.5% |
| Stocks | 30/36 | €744,469 | €897,335 | +€152,865 | +20.5% |
| Amounts receivable within one year | 40/41 | €537,982 | €782,408 | +€244,426 | +45.4% |
| Trade receivables | 40 | €59,296 | €299,807 | +€240,511 | +406% |
| Other amounts receivable | 41 | €478,686 | €482,600 | +€3,914 | +0.8% |
| Cash at bank and in hand | 54/58 | €139,275 | €70,073 | -€69,202 | -49.7% |
| Deferred charges and accrued income | 490/1 | €19,256 | €31,005 | +€11,749 | +61.0% |
| Total equity and liabilities | 10/49 | €1,751,348 | €2,081,936 | +€330,588 | +18.9% |
| Equity | 10/15 | €1,012,273 | €1,049,003 | +€36,730 | +3.6% |
| Contributions | 10/11 | €197,000 | €197,000 | = | 0.0% |
| Reserves | 13 | €806,167 | €842,897 | +€36,730 | +4.6% |
| Distributable reserves | 133 | €806,167 | €842,897 | +€36,730 | +4.6% |
| Profit (loss) carried forward | 14 | €9,106 | €9,106 | = | 0.0% |
| Amounts payable | 17/49 | €739,075 | €1,032,933 | +€293,858 | +39.8% |
| Amounts payable after more than one year | 17 | €129,543 | €72,127 | -€57,416 | -44.3% |
| Financial debts | 170/4 | €129,543 | €72,127 | -€57,416 | -44.3% |
| Amounts payable within one year | 42/48 | €609,531 | €940,805 | +€331,274 | +54.3% |
| Current portion of amounts payable after more than one year | 42 | €54,772 | €57,205 | +€2,433 | +4.4% |
| Financial debts | 43 | €475,444 | €630,228 | +€154,783 | +32.6% |
| Credit institutions | 430/8 | €475,444 | €630,228 | +€154,783 | +32.6% |
| Trade debts | 44 | €65,319 | €232,340 | +€167,021 | +256% |
| Suppliers | 440/4 | €65,319 | €232,340 | +€167,021 | +256% |
| Advances received on contracts in progress | 46 | - | €1,500 | +€1,500 | |
| Taxes, remuneration and social security | 45 | - | €19,532 | +€19,532 | |
| Taxes | 450/3 | - | €19,532 | +€19,532 | |
| Other amounts payable | 47/48 | €13,996 | - | -€13,996 | |
| Accrued charges and deferred income | 492/3 | - | €20,000 | +€20,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,297 | €13,067 | +€1,769 | +15.7% |
| Other operating charges | 640/8 | €2,528 | €3,294 | +€766 | +30.3% |
| Gross operating margin | 9900 | €124,277 | €82,055 | -€42,222 | -34.0% |
| Operating profit (loss) | 9901 | €110,452 | €65,694 | -€44,757 | -40.5% |
| Financial income | 75/76B | €6,190 | €4,346 | -€1,844 | -29.8% |
| Recurring financial income | 75 | €6,190 | €4,346 | -€1,844 | -29.8% |
| Financial charges | 65/66B | €34,861 | €14,150 | -€20,711 | -59.4% |
| Recurring financial charges | 65 | €34,861 | €14,150 | -€20,711 | -59.4% |
| Profit (loss) for the period before taxes | 9903 | €81,781 | €55,890 | -€25,891 | -31.7% |
| Income taxes | 67/77 | €26,086 | €19,160 | -€6,925 | -26.5% |
| Profit (loss) for the period | 9904 | €55,695 | €36,730 | -€18,965 | -34.1% |
| Profit (loss) for the period to be appropriated | 9905 | €55,695 | €36,730 | -€18,965 | -34.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.