MMM: 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.
MMM
Largest movements
- Tangible fixed assets +€64,450
up €64,450 (+150.7%), from €42,762 to €107,212
of which Furniture and vehicles: +€72,971
- Cash -€59,429
down €59,429 (-46.5%), from €127,786 to €68,357
mainly Investment in fixed assets (net) (-€83,426) and Receivables within one year (-€36,860)
- Receivables within one year +€36,860
up €36,860 (+383.9%), from €9,603 to €46,463
of which Other amounts receivable: +€29,248
- Stocks and contracts +€13,740
up €13,740 (+70.4%), from €19,510 to €33,250
- Intangible fixed assets -€12,429
down €12,429 (-28.3%), from €43,960 to €31,531
- Other debts -€35,673
down €35,673 (-56.9%), from €62,673 to €27,000
- Reserves +€34,895
up €34,895 (+33.4%), from €104,568 to €139,463
- Debts after one year +€25,387
up €25,387 (+265.2%), from €9,572 to €34,960
- Tax, wage and social debts +€15,654
up €15,654 (+84.1%), from €18,617 to €34,271
of which Taxes: +€10,891
- Current portion of long-term debt +€12,426
up €12,426 (+124.3%), from €9,995 to €22,421
- Gross operating margin +€124,460
up €124,460 (+122.3%), from €101,728 to €226,188
- Staff costs +€45,027
up €45,027 (+61.3%), from €73,426 to €118,453
- Depreciation +€16,741
up €16,741 (+116.1%), from €14,414 to €31,155
- Taxes +€11,822
up €11,822 (+632.6%), from €1,869 to €13,691
- Other operating charges +€7,055
up €7,055 (+1166.1%), from €605 to €7,660
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 | €253,859 | €298,533 | +€44,674 | +17.6% |
| Fixed assets | 21/28 | €95,722 | €147,993 | +€52,271 | +54.6% |
| Intangible fixed assets | 21 | €43,960 | €31,531 | -€12,429 | -28.3% |
| Tangible fixed assets | 22/27 | €42,762 | €107,212 | +€64,450 | +150.7% |
| Plant, machinery and equipment | 23 | €42,762 | €34,241 | -€8,521 | -19.9% |
| Furniture and vehicles | 24 | - | €72,971 | +€72,971 | |
| Financial fixed assets | 28 | €9,000 | €9,250 | +€250 | +2.8% |
| Current assets | 29/58 | €158,137 | €150,539 | -€7,598 | -4.8% |
| Stocks and contracts in progress | 3 | €19,510 | €33,250 | +€13,740 | +70.4% |
| Stocks | 30/36 | €19,510 | €33,250 | +€13,740 | +70.4% |
| Amounts receivable within one year | 40/41 | €9,603 | €46,463 | +€36,860 | +383.9% |
| Trade receivables | 40 | €1,279 | €8,892 | +€7,613 | +595.0% |
| Other amounts receivable | 41 | €8,323 | €37,571 | +€29,248 | +351.4% |
| Cash at bank and in hand | 54/58 | €127,786 | €68,357 | -€59,429 | -46.5% |
| Deferred charges and accrued income | 490/1 | €1,239 | €2,469 | +€1,231 | +99.4% |
| Total equity and liabilities | 10/49 | €253,859 | €298,533 | +€44,674 | +17.6% |
| Equity | 10/15 | €108,568 | €143,463 | +€34,895 | +32.1% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €104,568 | €139,463 | +€34,895 | +33.4% |
| Distributable reserves | 133 | €104,568 | €139,463 | +€34,895 | +33.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €145,291 | €155,070 | +€9,778 | +6.7% |
| Amounts payable after more than one year | 17 | €9,572 | €34,960 | +€25,387 | +265.2% |
| Financial debts | 170/4 | €9,572 | €34,960 | +€25,387 | +265.2% |
| Amounts payable within one year | 42/48 | €135,719 | €120,110 | -€15,609 | -11.5% |
| Current portion of amounts payable after more than one year | 42 | €9,995 | €22,421 | +€12,426 | +124.3% |
| Trade debts | 44 | €44,435 | €36,418 | -€8,016 | -18.0% |
| Suppliers | 440/4 | €44,435 | €36,418 | -€8,016 | -18.0% |
| Taxes, remuneration and social security | 45 | €18,617 | €34,271 | +€15,654 | +84.1% |
| Taxes | 450/3 | €6,809 | €17,701 | +€10,891 | +160.0% |
| Remuneration and social security | 454/9 | €11,808 | €16,571 | +€4,763 | +40.3% |
| Other amounts payable | 47/48 | €62,673 | €27,000 | -€35,673 | -56.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €73,426 | €118,453 | +€45,027 | +61.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,414 | €31,155 | +€16,741 | +116.1% |
| Other operating charges | 640/8 | €605 | €7,660 | +€7,055 | +1166.1% |
| Gross operating margin | 9900 | €101,728 | €226,188 | +€124,460 | +122.3% |
| Operating profit (loss) | 9901 | €13,283 | €68,920 | +€55,637 | +418.9% |
| Financial income | 75/76B | €2,109 | €3,813 | +€1,705 | +80.8% |
| Recurring financial income | 75 | €2,109 | €3,813 | +€1,705 | +80.8% |
| Financial charges | 65/66B | €3,385 | €9,147 | +€5,762 | +170.2% |
| Recurring financial charges | 65 | €3,385 | €9,147 | +€5,762 | +170.2% |
| Profit (loss) for the period before taxes | 9903 | €12,006 | €63,586 | +€51,580 | +429.6% |
| Income taxes | 67/77 | €1,869 | €13,691 | +€11,822 | +632.6% |
| Profit (loss) for the period | 9904 | €10,137 | €49,895 | +€39,758 | +392.2% |
| Profit (loss) for the period to be appropriated | 9905 | €10,137 | €49,895 | +€39,758 | +392.2% |
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 30 September 2026 via checked.be.