MMEC: 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.
MMEC
Largest movements
- Receivables after one year -€54,679
down €54,679 (-100%), from €54,679 to €0
- Tangible fixed assets -€21,030
down €21,030 (-26.6%), from €79,084 to €58,054
of which Land and buildings: -€12,815
- Reserves -€83,072
down €83,072 (-16.6%), from €500,964 to €417,893
- Other debts +€72,806
up €72,806 (+311%), from €23,395 to €96,201
- Debts after one year -€24,424
down €24,424 (-11.9%), from €205,094 to €180,671
of which Financial debts: -€42,772
- Trade debts -€11,405
down €11,405 (-43.5%), from €26,191 to €14,785
- Accrued charges and deferred income -€9,842
down €9,842 (-57.3%), from €17,168 to €7,326
- Gross operating margin +€30,774
up €30,774 (+40.0%), from -€77,000 to -€46,226
- Financial charges -€7,075
down €7,075 (-50.6%), from €13,992 to €6,916
- Depreciation +€6,606
up €6,606 (+44.0%), from €15,027 to €21,633
- Financial income -€4,865
down €4,865 (-100.0%), from €4,865 to €0
- Other operating charges +€932
up €932 (+14.0%), from €6,658 to €7,590
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 | €977,196 | €909,951 | -€67,245 | -6.9% |
| Fixed assets | 21/28 | €919,651 | €898,621 | -€21,030 | -2.3% |
| Tangible fixed assets | 22/27 | €79,084 | €58,054 | -€21,030 | -26.6% |
| Land and buildings | 22 | €37,296 | €24,481 | -€12,815 | -34.4% |
| Plant, machinery and equipment | 23 | - | €586 | +€586 | |
| Furniture and vehicles | 24 | €41,788 | €32,988 | -€8,800 | -21.1% |
| Financial fixed assets | 28 | €840,567 | €840,567 | = | 0.0% |
| Current assets | 29/58 | €57,545 | €11,330 | -€46,215 | -80.3% |
| Amounts receivable after more than one year | 29 | €54,679 | €0 | -€54,679 | -100% |
| Other amounts receivable | 291 | €54,679 | €0 | -€54,679 | -100% |
| Amounts receivable within one year | 40/41 | - | €235 | +€235 | |
| Other amounts receivable | 41 | - | €235 | +€235 | |
| Cash at bank and in hand | 54/58 | €1,497 | €9,885 | +€8,388 | +560% |
| Deferred charges and accrued income | 490/1 | €1,369 | €1,210 | -€159 | -11.6% |
| Total equity and liabilities | 10/49 | €977,196 | €909,951 | -€67,245 | -6.9% |
| Equity | 10/15 | €519,564 | €436,493 | -€83,072 | -16.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €500,964 | €417,893 | -€83,072 | -16.6% |
| Distributable reserves | 133 | €500,964 | €417,893 | -€83,072 | -16.6% |
| Amounts payable | 17/49 | €457,632 | €473,458 | +€15,827 | +3.5% |
| Amounts payable after more than one year | 17 | €205,094 | €180,671 | -€24,424 | -11.9% |
| Financial debts | 170/4 | €119,312 | €76,540 | -€42,772 | -35.8% |
| Other amounts payable | 178/9 | €85,782 | €104,131 | +€18,348 | +21.4% |
| Amounts payable within one year | 42/48 | €235,369 | €285,462 | +€50,093 | +21.3% |
| Current portion of amounts payable after more than one year | 42 | €45,025 | €42,772 | -€2,253 | -5.0% |
| Financial debts | 43 | €131,478 | €130,280 | -€1,197 | -0.9% |
| Credit institutions | 430/8 | €131,478 | €130,280 | -€1,197 | -0.9% |
| Trade debts | 44 | €26,191 | €14,785 | -€11,405 | -43.5% |
| Suppliers | 440/4 | €26,191 | €14,785 | -€11,405 | -43.5% |
| Taxes, remuneration and social security | 45 | €9,281 | €1,423 | -€7,858 | -84.7% |
| Taxes | 450/3 | €9,281 | €1,423 | -€7,858 | -84.7% |
| Other amounts payable | 47/48 | €23,395 | €96,201 | +€72,806 | +311% |
| Accrued charges and deferred income | 492/3 | €17,168 | €7,326 | -€9,842 | -57.3% |
| Non-recurring operating income | 76A | €3,719 | - | -€3,719 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,027 | €21,633 | +€6,606 | +44.0% |
| Other operating charges | 640/8 | €6,658 | €7,590 | +€932 | +14.0% |
| Gross operating margin | 9900 | -€77,000 | -€46,226 | +€30,774 | +40.0% |
| Operating profit (loss) | 9901 | -€98,685 | -€75,449 | +€23,236 | +23.5% |
| Financial income | 75/76B | €4,865 | €0 | -€4,865 | -100.0% |
| Recurring financial income | 75 | €4,865 | €0 | -€4,865 | -100.0% |
| Financial charges | 65/66B | €13,992 | €6,916 | -€7,075 | -50.6% |
| Recurring financial charges | 65 | €13,992 | €6,916 | -€7,075 | -50.6% |
| Profit (loss) for the period before taxes | 9903 | -€107,811 | -€82,365 | +€25,446 | +23.6% |
| Income taxes | 67/77 | €717 | €706 | -€11 | -1.5% |
| Profit (loss) for the period | 9904 | -€108,528 | -€83,072 | +€25,456 | +23.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€108,528 | -€83,072 | +€25,456 | +23.5% |
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 16 October 2026 via checked.be.