MMP Heeren: 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.
MMP Heeren
Largest movements
- Financial fixed assets +€884,565
new in 2025: €884,565
- Receivables within one year -€127,572
down €127,572 (-13.8%), from €927,258 to €799,687
of which Trade receivables: -€117,207
- Tangible fixed assets -€59,722
down €59,722 (-3.4%), from €1.8m to €1.7m
of which Land and buildings: -€60,372
- Other debts +€905,265
up €905,265 (+58.4%), from €1.6m to €2.5m
- Debts after one year -€115,277
down €115,277 (-11.0%), from €1.0m to €928,232
- Profit (loss) carried forward -€63,265
down €63,265 (-63.7%), from -€99,305 to -€162,570
- Gross operating margin -€63,795
down €63,795 (-37.2%), from €171,393 to €107,597
- Taxes -€9,210
down €9,210 (-100%), from €9,210 to €0
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 | €2,753,730 | €3,452,621 | +€698,891 | +25.4% |
| Fixed assets | 21/28 | €1,760,550 | €2,585,393 | +€824,844 | +46.9% |
| Tangible fixed assets | 22/27 | €1,760,550 | €1,700,828 | -€59,722 | -3.4% |
| Land and buildings | 22 | €1,756,484 | €1,696,113 | -€60,372 | -3.4% |
| Plant, machinery and equipment | 23 | €4,066 | €3,417 | -€649 | -16.0% |
| Furniture and vehicles | 24 | €0 | €1,298 | +€1,298 | |
| Financial fixed assets | 28 | - | €884,565 | +€884,565 | |
| Current assets | 29/58 | €993,181 | €867,228 | -€125,953 | -12.7% |
| Stocks and contracts in progress | 3 | €60,982 | €60,982 | = | 0.0% |
| Contracts in progress | 37 | €60,982 | €60,982 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €927,258 | €799,687 | -€127,572 | -13.8% |
| Trade receivables | 40 | €613,520 | €496,313 | -€117,207 | -19.1% |
| Other amounts receivable | 41 | €313,739 | €303,374 | -€10,365 | -3.3% |
| Cash at bank and in hand | 54/58 | €2,486 | €1,671 | -€814 | -32.8% |
| Deferred charges and accrued income | 490/1 | €2,455 | €4,888 | +€2,434 | +99.1% |
| Total equity and liabilities | 10/49 | €2,753,730 | €3,452,621 | +€698,891 | +25.4% |
| Equity | 10/15 | €586 | -€62,679 | -€63,265 | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €79,891 | €79,891 | = | 0.0% |
| Distributable reserves | 133 | €79,891 | €79,891 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€99,305 | -€162,570 | -€63,265 | -63.7% |
| Amounts payable | 17/49 | €2,753,145 | €3,515,301 | +€762,156 | +27.7% |
| Amounts payable after more than one year | 17 | €1,043,509 | €928,232 | -€115,277 | -11.0% |
| Financial debts | 170/4 | €1,043,509 | €928,232 | -€115,277 | -11.0% |
| Amounts payable within one year | 42/48 | €1,709,592 | €2,587,019 | +€877,427 | +51.3% |
| Current portion of amounts payable after more than one year | 42 | €112,748 | €115,277 | +€2,529 | +2.2% |
| Trade debts | 44 | €8,593 | €1,614 | -€6,979 | -81.2% |
| Suppliers | 440/4 | €8,593 | €1,614 | -€6,979 | -81.2% |
| Taxes, remuneration and social security | 45 | €38,194 | €14,806 | -€23,388 | -61.2% |
| Taxes | 450/3 | €38,194 | €14,806 | -€23,388 | -61.2% |
| Other amounts payable | 47/48 | €1,550,058 | €2,455,323 | +€905,265 | +58.4% |
| Accrued charges and deferred income | 492/3 | €44 | €49 | +€6 | +13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,758 | €61,481 | +€723 | +1.2% |
| Other operating charges | 640/8 | €5,110 | €5,394 | +€284 | +5.6% |
| Gross operating margin | 9900 | €171,393 | €107,597 | -€63,795 | -37.2% |
| Operating profit (loss) | 9901 | €105,524 | €40,722 | -€64,803 | -61.4% |
| Financial income | 75/76B | €5,960 | €5,635 | -€325 | -5.4% |
| Recurring financial income | 75 | €5,960 | €5,635 | -€325 | -5.4% |
| Financial charges | 65/66B | €111,175 | €109,622 | -€1,554 | -1.4% |
| Recurring financial charges | 65 | €111,175 | €109,622 | -€1,554 | -1.4% |
| Profit (loss) for the period before taxes | 9903 | €309 | -€63,265 | -€63,574 | |
| Income taxes | 67/77 | €9,210 | €0 | -€9,210 | -100% |
| Profit (loss) for the period | 9904 | -€8,901 | -€63,265 | -€54,364 | -611% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,901 | -€63,265 | -€54,364 | -611% |
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 30 October 2026 via checked.be.