MMNOT: 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.
MMNOT
Largest movements
- Receivables within one year +€227,867
up €227,867 (+144.5%), from €157,665 to €385,532
of which Other amounts receivable: +€227,199
- Cash -€199,550
down €199,550 (-97.1%), from €205,591 to €6,041
mainly Other debts (-€295,000) and Receivables within one year (-€227,867)
- Tangible fixed assets -€18,000
down €18,000 (-54.5%), from €33,000 to €15,000
- Financial fixed assets -€5,000
down €5,000 (-8.3%), from €60,000 to €55,000
- Reserves +€313,120
up €313,120 (+240.7%), from €130,087 to €443,207
- Other debts -€295,000
no longer reported in 2025 (was €295,000)
- Short-term financial debts -€21,602
no longer reported in 2025 (was €21,602)
- Financial income +€318,500
new in 2025: €318,500
- Gross operating margin -€27,626
down €27,626 (-65.2%), from €42,350 to €14,724
- Taxes -€4,708
down €4,708 (-86.6%), from €5,436 to €727
- Financial charges -€1,476
down €1,476 (-82.4%), from €1,792 to €316
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 | €460,444 | €464,189 | +€3,745 | +0.8% |
| Fixed assets | 21/28 | €93,000 | €70,000 | -€23,000 | -24.7% |
| Tangible fixed assets | 22/27 | €33,000 | €15,000 | -€18,000 | -54.5% |
| Furniture and vehicles | 24 | €33,000 | €15,000 | -€18,000 | -54.5% |
| Financial fixed assets | 28 | €60,000 | €55,000 | -€5,000 | -8.3% |
| Current assets | 29/58 | €367,444 | €394,189 | +€26,745 | +7.3% |
| Amounts receivable within one year | 40/41 | €157,665 | €385,532 | +€227,867 | +144.5% |
| Trade receivables | 40 | €10,706 | €11,374 | +€668 | +6.2% |
| Other amounts receivable | 41 | €146,959 | €374,158 | +€227,199 | +154.6% |
| Cash at bank and in hand | 54/58 | €205,591 | €6,041 | -€199,550 | -97.1% |
| Deferred charges and accrued income | 490/1 | €4,188 | €2,616 | -€1,572 | -37.5% |
| Total equity and liabilities | 10/49 | €460,444 | €464,189 | +€3,745 | +0.8% |
| Equity | 10/15 | €135,087 | €448,207 | +€313,120 | +231.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €130,087 | €443,207 | +€313,120 | +240.7% |
| Distributable reserves | 133 | €130,087 | €443,207 | +€313,120 | +240.7% |
| Amounts payable | 17/49 | €325,358 | €15,982 | -€309,375 | -95.1% |
| Amounts payable within one year | 42/48 | €325,358 | €15,982 | -€309,375 | -95.1% |
| Financial debts | 43 | €21,602 | - | -€21,602 | |
| Other loans | 439 | €21,602 | - | -€21,602 | |
| Trade debts | 44 | €3,322 | €6,183 | +€2,862 | +86.1% |
| Suppliers | 440/4 | €3,322 | €6,183 | +€2,862 | +86.1% |
| Taxes, remuneration and social security | 45 | €5,434 | €9,799 | +€4,365 | +80.3% |
| Taxes | 450/3 | €5,434 | €9,799 | +€4,365 | +80.3% |
| Other amounts payable | 47/48 | €295,000 | - | -€295,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,000 | €18,000 | = | 0.0% |
| Other operating charges | 640/8 | €1,164 | €1,061 | -€103 | -8.9% |
| Gross operating margin | 9900 | €42,350 | €14,724 | -€27,626 | -65.2% |
| Operating profit (loss) | 9901 | €23,186 | -€4,337 | -€27,523 | |
| Financial income | 75/76B | - | €318,500 | +€318,500 | |
| Recurring financial income | 75 | - | €318,500 | +€318,500 | |
| Financial charges | 65/66B | €1,792 | €316 | -€1,476 | -82.4% |
| Recurring financial charges | 65 | €1,792 | €316 | -€1,476 | -82.4% |
| Profit (loss) for the period before taxes | 9903 | €21,394 | €313,847 | +€292,453 | +1367.0% |
| Income taxes | 67/77 | €5,436 | €727 | -€4,708 | -86.6% |
| Profit (loss) for the period | 9904 | €15,958 | €313,120 | +€297,162 | +1862.1% |
| Profit (loss) for the period to be appropriated | 9905 | €15,958 | €313,120 | +€297,162 | +1862.1% |
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 9 October 2026 via checked.be.