MML: 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.
MML
Largest movements
- Receivables after one year -€170,000
down €170,000 (-100.0%), from €170,000 to €0
- Receivables within one year +€44,070
up €44,070 (+70.7%), from €62,330 to €106,399
of which Trade receivables: +€42,655
- Tangible fixed assets -€38,813
down €38,813 (-32.0%), from €121,357 to €82,544
of which Furniture and vehicles: -€19,715
- Stocks and contracts +€16,774
up €16,774 (+31.4%), from €53,433 to €70,207
- Cash +€10,102
up €10,102 (+5.8%), from €173,441 to €183,543
mainly Net result for the year (+€197,709) and Receivables after one year (+€170,000)
- Trade debts -€169,869
down €169,869 (-84.0%), from €202,260 to €32,391
- Tax, wage and social debts +€45,567
up €45,567 (+2611.6%), from €1,745 to €47,312
- Current portion of long-term debt -€16,560
down €16,560 (-100.0%), from €16,560 to €0
- Gross operating margin +€226,266
up €226,266 (+259.9%), from €87,075 to €313,341
- Taxes +€48,483
up €48,483 (+225.1%), from €21,543 to €70,026
- Depreciation -€22,537
down €22,537 (-33.4%), from €67,558 to €45,021
- Provisions +€17,180
up €17,180, from -€14,250 to €2,930
- Financial charges -€3,328
down €3,328 (-45.5%), from €7,317 to €3,989
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 | €601,963 | €461,700 | -€140,263 | -23.3% |
| Fixed assets | 21/28 | €128,743 | €87,980 | -€40,763 | -31.7% |
| Intangible fixed assets | 21 | €7,386 | €5,436 | -€1,950 | -26.4% |
| Tangible fixed assets | 22/27 | €121,357 | €82,544 | -€38,813 | -32.0% |
| Plant, machinery and equipment | 23 | €38,315 | €32,716 | -€5,599 | -14.6% |
| Furniture and vehicles | 24 | €63,030 | €43,316 | -€19,715 | -31.3% |
| Leasing and similar rights | 25 | €12,054 | €0 | -€12,054 | -100.0% |
| Other tangible fixed assets | 26 | €7,957 | €6,512 | -€1,445 | -18.2% |
| Current assets | 29/58 | €473,220 | €373,719 | -€99,500 | -21.0% |
| Amounts receivable after more than one year | 29 | €170,000 | €0 | -€170,000 | -100.0% |
| Other amounts receivable | 291 | €170,000 | €0 | -€170,000 | -100.0% |
| Stocks and contracts in progress | 3 | €53,433 | €70,207 | +€16,774 | +31.4% |
| Stocks | 30/36 | €53,433 | €70,207 | +€16,774 | +31.4% |
| Amounts receivable within one year | 40/41 | €62,330 | €106,399 | +€44,070 | +70.7% |
| Trade receivables | 40 | €38,839 | €81,493 | +€42,655 | +109.8% |
| Other amounts receivable | 41 | €23,491 | €24,906 | +€1,415 | +6.0% |
| Cash at bank and in hand | 54/58 | €173,441 | €183,543 | +€10,102 | +5.8% |
| Deferred charges and accrued income | 490/1 | €14,016 | €13,570 | -€446 | -3.2% |
| Total equity and liabilities | 10/49 | €601,963 | €461,700 | -€140,263 | -23.3% |
| Equity | 10/15 | €347,197 | €344,906 | -€2,291 | -0.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €328,597 | €326,306 | -€2,291 | -0.7% |
| Distributable reserves | 133 | €328,597 | €326,306 | -€2,291 | -0.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €25,750 | €28,680 | +€2,930 | +11.4% |
| Provisions for liabilities and charges | 160/5 | €25,750 | €28,680 | +€2,930 | +11.4% |
| Major repairs and maintenance | 162 | €25,750 | €28,680 | +€2,930 | +11.4% |
| Amounts payable | 17/49 | €229,016 | €88,114 | -€140,903 | -61.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €229,016 | €88,114 | -€140,903 | -61.5% |
| Current portion of amounts payable after more than one year | 42 | €16,560 | €0 | -€16,560 | -100.0% |
| Financial debts | 43 | €8,452 | €8,411 | -€41 | -0.5% |
| Credit institutions | 430/8 | €8,452 | €8,411 | -€41 | -0.5% |
| Trade debts | 44 | €202,260 | €32,391 | -€169,869 | -84.0% |
| Suppliers | 440/4 | €202,260 | €32,391 | -€169,869 | -84.0% |
| Taxes, remuneration and social security | 45 | €1,745 | €47,312 | +€45,567 | +2611.6% |
| Taxes | 450/3 | €1,745 | €47,312 | +€45,567 | +2611.6% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,558 | €45,021 | -€22,537 | -33.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€14,250 | €2,930 | +€17,180 | |
| Other operating charges | 640/8 | €6,067 | €4,386 | -€1,681 | -27.7% |
| Non-recurring operating charges | 66A | €435 | - | -€435 | |
| Gross operating margin | 9900 | €87,075 | €313,341 | +€226,266 | +259.9% |
| Operating profit (loss) | 9901 | €27,265 | €261,004 | +€233,739 | +857.3% |
| Financial income | 75/76B | €13,536 | €10,720 | -€2,816 | -20.8% |
| Recurring financial income | 75 | €13,536 | €10,720 | -€2,816 | -20.8% |
| Financial charges | 65/66B | €7,317 | €3,989 | -€3,328 | -45.5% |
| Recurring financial charges | 65 | €7,317 | €3,989 | -€3,328 | -45.5% |
| Profit (loss) for the period before taxes | 9903 | €33,484 | €267,735 | +€234,251 | +699.6% |
| Income taxes | 67/77 | €21,543 | €70,026 | +€48,483 | +225.1% |
| Profit (loss) for the period | 9904 | €11,941 | €197,709 | +€185,768 | +1555.7% |
| Profit (loss) for the period to be appropriated | 9905 | €11,941 | €197,709 | +€185,768 | +1555.7% |
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 7 October 2026 via checked.be.