MMI: 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.
MMI
Largest movements
- Cash -€11,360
down €11,360 (-19.0%), from €59,780 to €48,421
mainly Net result for the year (-€17,574) and Accrued charges and deferred income (-€800)
- Receivables within one year -€7,059
down €7,059 (-12.3%), from €57,461 to €50,402
of which Trade receivables: -€10,195
- Profit (loss) carried forward -€17,574
down €17,574 (-85.1%), from -€20,645 to -€38,220
- Gross operating margin +€8,026
up €8,026 (+35.4%), from -€22,672 to -€14,646
- Depreciation -€531
down €531 (-45.1%), from €1,178 to €647
- Financial charges -€293
down €293 (-14.3%), from €2,052 to €1,759
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 | €120,982 | €101,997 | -€18,985 | -15.7% |
| Fixed assets | 21/28 | €1,109 | €462 | -€647 | -58.3% |
| Tangible fixed assets | 22/27 | €1,010 | €363 | -€647 | -64.1% |
| Furniture and vehicles | 24 | €1,010 | €363 | -€647 | -64.1% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €119,873 | €101,535 | -€18,338 | -15.3% |
| Amounts receivable within one year | 40/41 | €57,461 | €50,402 | -€7,059 | -12.3% |
| Trade receivables | 40 | €19,572 | €9,378 | -€10,195 | -52.1% |
| Other amounts receivable | 41 | €37,889 | €41,024 | +€3,135 | +8.3% |
| Current investments | 50/53 | €236 | €238 | +€1 | +0.6% |
| Cash at bank and in hand | 54/58 | €59,780 | €48,421 | -€11,360 | -19.0% |
| Deferred charges and accrued income | 490/1 | €2,395 | €2,475 | +€79 | +3.3% |
| Total equity and liabilities | 10/49 | €120,982 | €101,997 | -€18,985 | -15.7% |
| Equity | 10/15 | €117,735 | €100,160 | -€17,574 | -14.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €125,980 | €125,980 | = | 0.0% |
| Distributable reserves | 133 | €125,980 | €125,980 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,645 | -€38,220 | -€17,574 | -85.1% |
| Amounts payable | 17/49 | €3,247 | €1,837 | -€1,410 | -43.4% |
| Amounts payable within one year | 42/48 | €1,747 | €1,137 | -€610 | -34.9% |
| Trade debts | 44 | €336 | €428 | +€92 | +27.4% |
| Suppliers | 440/4 | €336 | €428 | +€92 | +27.4% |
| Taxes, remuneration and social security | 45 | €1,411 | €709 | -€703 | -49.8% |
| Taxes | 450/3 | €1,411 | €709 | -€703 | -49.8% |
| Accrued charges and deferred income | 492/3 | €1,500 | €700 | -€800 | -53.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,178 | €647 | -€531 | -45.1% |
| Other operating charges | 640/8 | €1,067 | €1,252 | +€185 | +17.3% |
| Gross operating margin | 9900 | -€22,672 | -€14,646 | +€8,026 | +35.4% |
| Operating profit (loss) | 9901 | -€24,917 | -€16,545 | +€8,372 | +33.6% |
| Financial income | 75/76B | €1,319 | €1,438 | +€119 | +9.0% |
| Recurring financial income | 75 | €1,319 | €1,438 | +€119 | +9.0% |
| Financial charges | 65/66B | €2,052 | €1,759 | -€293 | -14.3% |
| Recurring financial charges | 65 | €2,052 | €1,759 | -€293 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | -€25,650 | -€16,865 | +€8,785 | +34.2% |
| Income taxes | 67/77 | €654 | €709 | +€55 | +8.5% |
| Profit (loss) for the period | 9904 | -€26,304 | -€17,574 | +€8,729 | +33.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,304 | -€17,574 | +€8,729 | +33.2% |
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 11 October 2026 via checked.be.