MMMM: 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.
MMMM
Largest movements
- Cash -€17,443
down €17,443 (-39.3%), from €44,388 to €26,945
mainly Net result for the year (-€40,858)
- Receivables within one year -€7,865
down €7,865 (-83.3%), from €9,444 to €1,578
of which Other amounts receivable: -€5,731
- Tangible fixed assets -€618
down €618 (-86.9%), from €711 to €93
of which Plant, machinery and equipment: -€504
- Reserves -€34,413
down €34,413 (-73.2%), from €47,043 to €12,630
of which Distributable reserves: -€34,413
- Other debts +€13,831
new in 2025: €13,831
- Profit (loss) carried forward -€6,445
new in 2025: -€6,445
- Trade debts +€1,101
new in 2025: €1,101
- Gross operating margin -€17,113
down €17,113 (-75.0%), from -€22,825 to -€39,938
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 | €54,543 | €28,617 | -€25,926 | -47.5% |
| Fixed assets | 21/28 | €711 | €93 | -€618 | -86.9% |
| Tangible fixed assets | 22/27 | €711 | €93 | -€618 | -86.9% |
| Plant, machinery and equipment | 23 | €504 | - | -€504 | |
| Furniture and vehicles | 24 | €207 | €93 | -€114 | -55.0% |
| Current assets | 29/58 | €53,832 | €28,523 | -€25,309 | -47.0% |
| Amounts receivable within one year | 40/41 | €9,444 | €1,578 | -€7,865 | -83.3% |
| Trade receivables | 40 | €3,443 | €1,308 | -€2,135 | -62.0% |
| Other amounts receivable | 41 | €6,001 | €270 | -€5,731 | -95.5% |
| Cash at bank and in hand | 54/58 | €44,388 | €26,945 | -€17,443 | -39.3% |
| Total equity and liabilities | 10/49 | €54,543 | €28,617 | -€25,926 | -47.5% |
| Equity | 10/15 | €54,543 | €13,685 | -€40,858 | -74.9% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €47,043 | €12,630 | -€34,413 | -73.2% |
| Tax-exempt reserves | 132 | €12,630 | €12,630 | = | 0.0% |
| Distributable reserves | 133 | €34,413 | - | -€34,413 | |
| Profit (loss) carried forward | 14 | - | -€6,445 | -€6,445 | |
| Amounts payable | 17/49 | - | €14,932 | +€14,932 | |
| Amounts payable within one year | 42/48 | - | €14,932 | +€14,932 | |
| Trade debts | 44 | - | €1,101 | +€1,101 | |
| Suppliers | 440/4 | - | €1,101 | +€1,101 | |
| Other amounts payable | 47/48 | - | €13,831 | +€13,831 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €651 | €618 | -€33 | -5.1% |
| Other operating charges | 640/8 | €362 | €120 | -€242 | -66.8% |
| Gross operating margin | 9900 | -€22,825 | -€39,938 | -€17,113 | -75.0% |
| Operating profit (loss) | 9901 | -€23,838 | -€40,676 | -€16,838 | -70.6% |
| Financial income | 75/76B | - | €8 | +€8 | |
| Recurring financial income | 75 | - | €8 | +€8 | |
| Financial charges | 65/66B | €219 | €190 | -€28 | -13.0% |
| Recurring financial charges | 65 | €219 | €190 | -€28 | -13.0% |
| Profit (loss) for the period before taxes | 9903 | -€24,056 | -€40,858 | -€16,801 | -69.8% |
| Profit (loss) for the period | 9904 | -€24,056 | -€40,858 | -€16,801 | -69.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,056 | -€40,858 | -€16,801 | -69.8% |
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 7 October 2026 via checked.be.