MMP1: what changed
What changed
MMP1
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€72,117
2024 · €12,226+€59,892
Equity
€2.5m
2024 · €2.4m+€72,117
Cash
€248,042
2024 · €107,661+€140,381
Balance sheet total
€2.7m
2024 · €2.5m+€185,937
Largest movements
Assets
- Cash +€140,381
up €140,381 (+130%), from €107,661 to €248,042
mainly Advances received (+€187,330) and Investment in fixed assets (net) (+€90,000)
- Receivables within one year +€111,545
up €111,545 (+64.4%), from €173,114 to €284,660
of which Other amounts receivable: +€181,796
- Financial fixed assets -€90,000
down €90,000 (-5.4%), from €1.7m to €1.6m
of which Affiliated companies: -€90,000
- Receivables after one year +€27,288
up €27,288 (+5.5%), from €500,621 to €527,909
Equity and liabilities
- Advances received +€187,330
new in 2025: €187,330
- Reserves +€72,117
up €72,117 (+4.3%), from €1.7m to €1.7m
of which Distributable reserves: +€72,117
- Tax, wage and social debts -€50,157
down €50,157 (-96.9%), from €51,778 to €1,620
Income statement
- Financial income +€78,723
up €78,723 (+372%), from €21,160 to €99,883
of which Non-recurring financial income: +€61,475
- Turnover -€53,692
down €53,692 (-43.2%), from €124,167 to €70,474
- Taxes -€10,190
down €10,190 (-99.7%), from €10,225 to €35
of which Taxes: -€10,190
- Financial charges -€7,982
down €7,982 (-87.5%), from €9,125 to €1,143
of which Financial charges: -€7,982
- Services and other goods -€5,753
down €5,753 (-5.4%), from €106,942 to €101,189
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€12,226
Turnover
-€53,692
Other operating income
+€2,535
Services and other goods
+€5,753
Depreciation
+€3,780
Other operating charges
+€1,252
Other operating items
+€3,369
Financial income
+€78,723
Financial charges
+€7,982
Taxes
+€10,190
Result 2025
€72,117
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€68,448
Investment
+€90,000
Financing
-€18,067
Cash 2024
€107,661
From operations (derived)
+€68,448
Net result for the year
+€72,117
Depreciation
+€13,148
Receivables after one year
-€27,288
Receivables within one year
-€111,545
Deferred charges and accrued income
-€9,870
Trade debts
+€2,176
Tax, wage and social debts
-€50,157
Advances received
+€187,330
Other debts
-€8,727
Accrued charges and deferred income
+€1,265
Investment (derived)
+€90,000
Investment in fixed assets (net)
+€90,000
Financing
-€18,067
Debts after one year
-€9,257
Current portion of long-term debt
-€8,811
Cash 2025
€248,042
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,527,808 | €2,713,745 | +€185,937 | +7.4% |
| Fixed assets | 21/28 | €1,741,540 | €1,638,392 | -€103,148 | -5.9% |
| Tangible fixed assets | 22/27 | €71,040 | €57,892 | -€13,148 | -18.5% |
| Furniture and vehicles | 24 | €71,040 | €57,892 | -€13,148 | -18.5% |
| Financial fixed assets | 28 | €1,670,500 | €1,580,500 | -€90,000 | -5.4% |
| Affiliated companies | 280/1 | €1,668,000 | €1,578,000 | -€90,000 | -5.4% |
| Participating interests | 280 | €1,668,000 | €1,578,000 | -€90,000 | -5.4% |
| Other financial fixed assets | 284/8 | €2,500 | €2,500 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €786,268 | €1,075,353 | +€289,084 | +36.8% |
| Amounts receivable after more than one year | 29 | €500,621 | €527,909 | +€27,288 | +5.5% |
| Other amounts receivable | 291 | €500,621 | €527,909 | +€27,288 | +5.5% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €173,114 | €284,660 | +€111,545 | +64.4% |
| Trade receivables | 40 | €91,031 | €20,781 | -€70,251 | -77.2% |
| Other amounts receivable | 41 | €82,083 | €263,879 | +€181,796 | +221% |
| Cash at bank and in hand | 54/58 | €107,661 | €248,042 | +€140,381 | +130% |
| Deferred charges and accrued income | 490/1 | €4,872 | €14,741 | +€9,870 | +203% |
| Total equity and liabilities | 10/49 | €2,527,808 | €2,713,745 | +€185,937 | +7.4% |
| Equity | 10/15 | €2,388,871 | €2,460,988 | +€72,117 | +3.0% |
| Contributions | 10/11 | €728,482 | €728,482 | = | 0.0% |
| Capital | 10 | €728,482 | €728,482 | = | 0.0% |
| Issued capital | 100 | €728,482 | €728,482 | = | 0.0% |
| Reserves | 13 | €1,660,389 | €1,732,506 | +€72,117 | +4.3% |
| Non-distributable reserves | 130/1 | €81,650 | €81,650 | = | 0.0% |
| Legal reserve | 130 | €81,650 | €81,650 | = | 0.0% |
| Distributable reserves | 133 | €1,578,739 | €1,650,856 | +€72,117 | +4.6% |
| Amounts payable | 17/49 | €138,937 | €252,757 | +€113,819 | +81.9% |
| Amounts payable after more than one year | 17 | €9,257 | €0 | -€9,257 | -100% |
| Financial debts | 170/4 | €9,257 | €0 | -€9,257 | -100% |
| Credit institutions | 173 | €9,257 | €0 | -€9,257 | -100% |
| Amounts payable within one year | 42/48 | €129,681 | €251,492 | +€121,811 | +93.9% |
| Current portion of amounts payable after more than one year | 42 | €18,067 | €9,257 | -€8,811 | -48.8% |
| Trade debts | 44 | €51,109 | €53,285 | +€2,176 | +4.3% |
| Suppliers | 440/4 | €51,109 | €53,285 | +€2,176 | +4.3% |
| Advances received on contracts in progress | 46 | - | €187,330 | +€187,330 | |
| Taxes, remuneration and social security | 45 | €51,778 | €1,620 | -€50,157 | -96.9% |
| Taxes | 450/3 | €51,778 | €1,620 | -€50,157 | -96.9% |
| Other amounts payable | 47/48 | €8,727 | €0 | -€8,727 | -100% |
| Accrued charges and deferred income | 492/3 | €0 | €1,265 | +€1,265 | |
| Operating income | 70/76A | €142,742 | €90,890 | -€51,852 | -36.3% |
| Turnover | 70 | €124,167 | €70,474 | -€53,692 | -43.2% |
| Other operating income | 74 | €1,616 | €4,151 | +€2,535 | +157% |
| Non-recurring operating income | 76A | €16,959 | €16,264 | -€694 | -4.1% |
| Operating charges | 60/66A | €132,326 | €117,478 | -€14,848 | -11.2% |
| Services and other goods | 61 | €106,942 | €101,189 | -€5,753 | -5.4% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,928 | €13,148 | -€3,780 | -22.3% |
| Other operating charges | 640/8 | €4,393 | €3,141 | -€1,252 | -28.5% |
| Non-recurring operating charges | 66A | €4,063 | €0 | -€4,063 | -100% |
| Operating profit (loss) | 9901 | €10,416 | -€26,588 | -€37,004 | |
| Financial income | 75/76B | €21,160 | €99,883 | +€78,723 | +372% |
| Recurring financial income | 75 | €21,160 | €38,408 | +€17,248 | +81.5% |
| Income from financial fixed assets | 750 | €671 | €21,950 | +€21,279 | +3,172% |
| Income from current assets | 751 | €20,489 | €16,458 | -€4,031 | -19.7% |
| Other financial income | 752/9 | €0 | €0 | -€0 | -100% |
| Non-recurring financial income | 76B | €0 | €61,475 | +€61,475 | |
| Financial charges | 65/66B | €9,125 | €1,143 | -€7,982 | -87.5% |
| Recurring financial charges | 65 | €9,125 | €1,143 | -€7,982 | -87.5% |
| Debt charges | 650 | €7,802 | €622 | -€7,179 | -92.0% |
| Other financial charges | 652/9 | €1,323 | €521 | -€802 | -60.6% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €22,451 | €72,152 | +€49,701 | +221% |
| Income taxes | 67/77 | €10,225 | €35 | -€10,190 | -99.7% |
| Taxes | 670/3 | €10,225 | €35 | -€10,190 | -99.7% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €12,226 | €72,117 | +€59,892 | +490% |
| Profit (loss) for the period to be appropriated | 9905 | €12,226 | €72,117 | +€59,892 | +490% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.