MMM Project's: 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.
MMM Project's
Largest movements
- Cash +€133,458
up €133,458 (+73.6%), from €181,383 to €314,841
mainly Debts after one year (+€75,098) and Receivables within one year (+€57,446)
- Tangible fixed assets +€59,339
up €59,339 (+1,253%), from €4,735 to €64,074
of which Furniture and vehicles: +€58,064
- Receivables within one year -€57,446
down €57,446 (-79.5%), from €72,221 to €14,775
of which Trade receivables: -€64,714
- Debts after one year +€75,098
new in 2025: €75,098
- Profit (loss) carried forward +€22,426
up €22,426 (+12.7%), from €176,994 to €199,419
- Current portion of long-term debt +€19,989
new in 2025: €19,989
- Tax, wage and social debts +€14,920
up €14,920 (+29.8%), from €50,125 to €65,045
- Advances received +€11,840
up €11,840 (+908%), from €1,304 to €13,144
- Gross operating margin -€123,167
down €123,167 (-69.5%), from €177,189 to €54,022
- Taxes -€34,360
down €34,360 (-66.3%), from €51,796 to €17,436
- Depreciation +€7,298
up €7,298 (+544%), from €1,342 to €8,640
- Financial charges +€2,342
up €2,342 (+265%), from €884 to €3,226
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 | €258,339 | €393,690 | +€135,351 | +52.4% |
| Fixed assets | 21/28 | €4,735 | €64,074 | +€59,339 | +1,253% |
| Tangible fixed assets | 22/27 | €4,735 | €64,074 | +€59,339 | +1,253% |
| Plant, machinery and equipment | 23 | - | €1,275 | +€1,275 | |
| Furniture and vehicles | 24 | €4,735 | €62,799 | +€58,064 | +1,226% |
| Current assets | 29/58 | €253,604 | €329,616 | +€76,012 | +30.0% |
| Amounts receivable within one year | 40/41 | €72,221 | €14,775 | -€57,446 | -79.5% |
| Trade receivables | 40 | €64,714 | - | -€64,714 | |
| Other amounts receivable | 41 | €7,507 | €14,775 | +€7,267 | +96.8% |
| Cash at bank and in hand | 54/58 | €181,383 | €314,841 | +€133,458 | +73.6% |
| Total equity and liabilities | 10/49 | €258,339 | €393,690 | +€135,351 | +52.4% |
| Equity | 10/15 | €179,994 | €202,419 | +€22,426 | +12.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €176,994 | €199,419 | +€22,426 | +12.7% |
| Amounts payable | 17/49 | €78,345 | €191,271 | +€112,926 | +144% |
| Amounts payable after more than one year | 17 | - | €75,098 | +€75,098 | |
| Financial debts | 170/4 | - | €75,098 | +€75,098 | |
| Amounts payable within one year | 42/48 | €78,345 | €116,173 | +€37,828 | +48.3% |
| Current portion of amounts payable after more than one year | 42 | - | €19,989 | +€19,989 | |
| Trade debts | 44 | €26,917 | €17,996 | -€8,921 | -33.1% |
| Suppliers | 440/4 | €26,917 | €17,996 | -€8,921 | -33.1% |
| Advances received on contracts in progress | 46 | €1,304 | €13,144 | +€11,840 | +908% |
| Taxes, remuneration and social security | 45 | €50,125 | €65,045 | +€14,920 | +29.8% |
| Taxes | 450/3 | €50,125 | €65,045 | +€14,920 | +29.8% |
| Non-recurring operating income | 76A | €1,054 | - | -€1,054 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,342 | €8,640 | +€7,298 | +544% |
| Other operating charges | 640/8 | €2,248 | €2,294 | +€46 | +2.0% |
| Gross operating margin | 9900 | €177,189 | €54,022 | -€123,167 | -69.5% |
| Operating profit (loss) | 9901 | €173,600 | €43,088 | -€130,512 | -75.2% |
| Financial charges | 65/66B | €884 | €3,226 | +€2,342 | +265% |
| Recurring financial charges | 65 | €884 | €3,226 | +€2,342 | +265% |
| Profit (loss) for the period before taxes | 9903 | €172,715 | €39,862 | -€132,854 | -76.9% |
| Income taxes | 67/77 | €51,796 | €17,436 | -€34,360 | -66.3% |
| Profit (loss) for the period | 9904 | €120,919 | €22,426 | -€98,494 | -81.5% |
| Profit (loss) for the period to be appropriated | 9905 | €120,919 | €22,426 | -€98,494 | -81.5% |
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 17 October 2026 via checked.be.