MMI SOLUTION: 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 SOLUTION
Largest movements
- Tangible fixed assets +€201,016
up €201,016 (+60.3%), from €333,602 to €534,618
of which Land and buildings: +€223,132
- Cash -€119,758
down €119,758 (-16.9%), from €708,187 to €588,429
mainly Investment in fixed assets (net) (-€243,815) and Contributions, distributions and other (-€116,000)
- Current investments -€85,969
down €85,969 (-18.3%), from €471,056 to €385,088
- Receivables after one year -€75,000
no longer reported in 2025 (was €75,000)
- Other debts -€110,636
down €110,636 (-48.8%), from €226,636 to €116,000
- Reserves +€94,956
up €94,956 (+7.4%), from €1.3m to €1.4m
- Tax, wage and social debts -€46,576
down €46,576 (-62.0%), from €75,147 to €28,571
of which Taxes: -€49,482
- Debts after one year -€22,315
down €22,315 (-19.4%), from €115,177 to €92,862
- Gross operating margin +€32,843
up €32,843 (+7.6%), from €434,002 to €466,844
- Staff costs +€7,987
up €7,987 (+6.3%), from €127,030 to €135,017
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 | €1,754,334 | €1,679,377 | -€74,957 | -4.3% |
| Fixed assets | 21/28 | €334,034 | €534,618 | +€200,584 | +60.0% |
| Intangible fixed assets | 21 | €432 | - | -€432 | |
| Tangible fixed assets | 22/27 | €333,602 | €534,618 | +€201,016 | +60.3% |
| Land and buildings | 22 | €291,364 | €514,497 | +€223,132 | +76.6% |
| Plant, machinery and equipment | 23 | €2,601 | €1,519 | -€1,082 | -41.6% |
| Furniture and vehicles | 24 | €39,637 | €18,602 | -€21,034 | -53.1% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €1,420,300 | €1,144,759 | -€275,541 | -19.4% |
| Amounts receivable after more than one year | 29 | €75,000 | - | -€75,000 | |
| Other amounts receivable | 291 | €75,000 | - | -€75,000 | |
| Amounts receivable within one year | 40/41 | €155,560 | €163,779 | +€8,219 | +5.3% |
| Trade receivables | 40 | €137,037 | €135,286 | -€1,751 | -1.3% |
| Other amounts receivable | 41 | €18,523 | €28,493 | +€9,970 | +53.8% |
| Current investments | 50/53 | €471,056 | €385,088 | -€85,969 | -18.3% |
| Cash at bank and in hand | 54/58 | €708,187 | €588,429 | -€119,758 | -16.9% |
| Deferred charges and accrued income | 490/1 | €10,497 | €7,463 | -€3,034 | -28.9% |
| Total equity and liabilities | 10/49 | €1,754,334 | €1,679,377 | -€74,957 | -4.3% |
| Equity | 10/15 | €1,291,139 | €1,386,095 | +€94,956 | +7.4% |
| Contributions | 10/11 | €9,860 | €9,860 | = | 0.0% |
| Reserves | 13 | €1,281,279 | €1,376,235 | +€94,956 | +7.4% |
| Distributable reserves | 133 | €1,281,279 | €1,376,235 | +€94,956 | +7.4% |
| Amounts payable | 17/49 | €463,195 | €293,282 | -€169,913 | -36.7% |
| Amounts payable after more than one year | 17 | €115,177 | €92,862 | -€22,315 | -19.4% |
| Financial debts | 170/4 | €115,177 | €92,862 | -€22,315 | -19.4% |
| Amounts payable within one year | 42/48 | €348,019 | €200,420 | -€147,598 | -42.4% |
| Current portion of amounts payable after more than one year | 42 | €24,759 | €22,315 | -€2,444 | -9.9% |
| Trade debts | 44 | €21,477 | €33,534 | +€12,057 | +56.1% |
| Suppliers | 440/4 | €21,477 | €33,534 | +€12,057 | +56.1% |
| Taxes, remuneration and social security | 45 | €75,147 | €28,571 | -€46,576 | -62.0% |
| Taxes | 450/3 | €58,659 | €9,177 | -€49,482 | -84.4% |
| Remuneration and social security | 454/9 | €16,488 | €19,394 | +€2,907 | +17.6% |
| Other amounts payable | 47/48 | €226,636 | €116,000 | -€110,636 | -48.8% |
| Remuneration, social security and pensions | 62 | €127,030 | €135,017 | +€7,987 | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,541 | €43,231 | +€1,690 | +4.1% |
| Other operating charges | 640/8 | €3,734 | €4,192 | +€458 | +12.3% |
| Gross operating margin | 9900 | €434,002 | €466,844 | +€32,843 | +7.6% |
| Operating profit (loss) | 9901 | €261,696 | €284,404 | +€22,708 | +8.7% |
| Financial income | 75/76B | €19,057 | €20,431 | +€1,374 | +7.2% |
| Recurring financial income | 75 | €19,057 | €20,431 | +€1,374 | +7.2% |
| Financial charges | 65/66B | €2,680 | €2,284 | -€396 | -14.8% |
| Recurring financial charges | 65 | €2,680 | €2,284 | -€396 | -14.8% |
| Profit (loss) for the period before taxes | 9903 | €278,073 | €302,551 | +€24,478 | +8.8% |
| Income taxes | 67/77 | €88,445 | €91,595 | +€3,150 | +3.6% |
| Profit (loss) for the period | 9904 | €189,628 | €210,956 | +€21,328 | +11.2% |
| Profit (loss) for the period to be appropriated | 9905 | €189,628 | €210,956 | +€21,328 | +11.2% |
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 14 October 2026 via checked.be.