MMI: 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.
MMI
Largest movements
- Receivables within one year +€159,000
up €159,000 (+43.0%), from €370,097 to €529,097
of which Trade receivables: +€159,000
- Cash -€147,649
down €147,649 (-98.4%), from €150,111 to €2,462
mainly Receivables within one year (-€159,000) and Investment in fixed assets (net) (-€87,022)
- Tangible fixed assets +€73,724
up €73,724 (+187.8%), from €39,255 to €112,979
of which Other tangible fixed assets: +€41,393
- Profit (loss) carried forward +€66,738
up €66,738 (+16.8%), from €396,612 to €463,350
- Trade debts +€23,466
up €23,466 (+528.8%), from €4,438 to €27,904
- Tax, wage and social debts -€7,760
down €7,760 (-28.9%), from €26,869 to €19,109
- Depreciation +€7,876
up €7,876 (+145.3%), from €5,422 to €13,298
- Gross operating margin -€5,526
down €5,526 (-5.0%), from €111,152 to €105,626
- Taxes -€2,947
down €2,947 (-10.4%), from €28,469 to €25,522
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 | €561,113 | €646,942 | +€85,829 | +15.3% |
| Fixed assets | 21/28 | €39,705 | €113,429 | +€73,724 | +185.7% |
| Tangible fixed assets | 22/27 | €39,255 | €112,979 | +€73,724 | +187.8% |
| Plant, machinery and equipment | 23 | €2,372 | €1,463 | -€909 | -38.3% |
| Furniture and vehicles | 24 | €11,283 | €44,524 | +€33,240 | +294.6% |
| Other tangible fixed assets | 26 | €25,600 | €66,993 | +€41,393 | +161.7% |
| Financial fixed assets | 28 | €450 | €450 | = | 0.0% |
| Current assets | 29/58 | €521,408 | €533,513 | +€12,105 | +2.3% |
| Amounts receivable within one year | 40/41 | €370,097 | €529,097 | +€159,000 | +43.0% |
| Trade receivables | 40 | €368,566 | €527,566 | +€159,000 | +43.1% |
| Other amounts receivable | 41 | €1,531 | €1,531 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €150,111 | €2,462 | -€147,649 | -98.4% |
| Deferred charges and accrued income | 490/1 | €1,200 | €1,954 | +€754 | +62.9% |
| Total equity and liabilities | 10/49 | €561,113 | €646,942 | +€85,829 | +15.3% |
| Equity | 10/15 | €516,847 | €583,585 | +€66,738 | +12.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €107,835 | €107,835 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €105,975 | €105,975 | = | 0.0% |
| Profit (loss) carried forward | 14 | €396,612 | €463,350 | +€66,738 | +16.8% |
| Amounts payable | 17/49 | €44,266 | €63,357 | +€19,091 | +43.1% |
| Amounts payable within one year | 42/48 | €44,266 | €63,357 | +€19,091 | +43.1% |
| Trade debts | 44 | €4,438 | €27,904 | +€23,466 | +528.8% |
| Suppliers | 440/4 | €4,438 | €27,904 | +€23,466 | +528.8% |
| Taxes, remuneration and social security | 45 | €26,869 | €19,109 | -€7,760 | -28.9% |
| Taxes | 450/3 | €26,869 | €19,109 | -€7,760 | -28.9% |
| Other amounts payable | 47/48 | €12,959 | €16,344 | +€3,386 | +26.1% |
| Non-recurring operating income | 76A | €787 | €0 | -€787 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,422 | €13,298 | +€7,876 | +145.3% |
| Non-recurring operating charges | 66A | €2,300 | €0 | -€2,300 | -100.0% |
| Gross operating margin | 9900 | €111,152 | €105,626 | -€5,526 | -5.0% |
| Operating profit (loss) | 9901 | €103,429 | €92,328 | -€11,102 | -10.7% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €162 | €67 | -€95 | -58.5% |
| Recurring financial charges | 65 | €162 | €67 | -€95 | -58.5% |
| Profit (loss) for the period before taxes | 9903 | €103,267 | €92,260 | -€11,007 | -10.7% |
| Income taxes | 67/77 | €28,469 | €25,522 | -€2,947 | -10.4% |
| Profit (loss) for the period | 9904 | €74,798 | €66,738 | -€8,060 | -10.8% |
| Profit (loss) for the period to be appropriated | 9905 | €74,798 | €66,738 | -€8,060 | -10.8% |
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 29 September 2026 via checked.be.