MMP2: 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.
MMP2
Largest movements
- Tangible fixed assets +€565,491
up €565,491 (+33374.9%), from €1,694 to €567,186
of which Land and buildings: +€562,407
- Other debts +€248,119
up €248,119, from €0 to €248,119
- Debts after one year +€109,659
up €109,659 (+1.2%), from €8.8m to €8.9m
- Reserves +€103,906
up €103,906 (+105.6%), from €98,400 to €202,306
- Short-term financial debts +€100,000
up €100,000, from €0 to €100,000
- Gross operating margin +€262,757
up €262,757 (+145.0%), from €181,172 to €443,930
- Financial charges +€139,218
up €139,218 (+1033.6%), from €13,470 to €152,688
- Depreciation +€84,698
up €84,698 (+17645.5%), from €480 to €85,178
- Taxes +€51,308
up €51,308 (+119.2%), from €43,047 to €94,354
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 | €8,986,244 | €9,606,253 | +€620,009 | +6.9% |
| Fixed assets | 21/28 | €8,826,582 | €9,392,074 | +€565,491 | +6.4% |
| Tangible fixed assets | 22/27 | €1,694 | €567,186 | +€565,491 | +33374.9% |
| Land and buildings | 22 | - | €562,407 | +€562,407 | |
| Furniture and vehicles | 24 | €1,694 | €4,779 | +€3,084 | +182.0% |
| Financial fixed assets | 28 | €8,824,888 | €8,824,888 | = | 0.0% |
| Current assets | 29/58 | €159,662 | €214,179 | +€54,518 | +34.1% |
| Amounts receivable within one year | 40/41 | €127,142 | €117,197 | -€9,945 | -7.8% |
| Trade receivables | 40 | €126,740 | €117,197 | -€9,544 | -7.5% |
| Other amounts receivable | 41 | €401 | €0 | -€401 | -100.0% |
| Cash at bank and in hand | 54/58 | €23,772 | €88,463 | +€64,691 | +272.1% |
| Deferred charges and accrued income | 490/1 | €8,748 | €8,520 | -€228 | -2.6% |
| Total equity and liabilities | 10/49 | €8,986,244 | €9,606,253 | +€620,009 | +6.9% |
| Equity | 10/15 | €118,400 | €222,306 | +€103,906 | +87.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €98,400 | €202,306 | +€103,906 | +105.6% |
| Distributable reserves | 133 | €98,400 | €202,306 | +€103,906 | +105.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €8,867,844 | €9,383,947 | +€516,103 | +5.8% |
| Amounts payable after more than one year | 17 | €8,787,605 | €8,897,264 | +€109,659 | +1.2% |
| Financial debts | 170/4 | €8,787,605 | €8,897,264 | +€109,659 | +1.2% |
| Amounts payable within one year | 42/48 | €80,239 | €486,429 | +€406,190 | +506.2% |
| Financial debts | 43 | €0 | €100,000 | +€100,000 | |
| Credit institutions | 430/8 | €0 | €100,000 | +€100,000 | |
| Trade debts | 44 | €26,408 | €38,296 | +€11,888 | +45.0% |
| Suppliers | 440/4 | €26,408 | €38,296 | +€11,888 | +45.0% |
| Taxes, remuneration and social security | 45 | €53,831 | €100,014 | +€46,184 | +85.8% |
| Taxes | 450/3 | €53,831 | €99,409 | +€45,579 | +84.7% |
| Remuneration and social security | 454/9 | €0 | €605 | +€605 | |
| Other amounts payable | 47/48 | €0 | €248,119 | +€248,119 | |
| Accrued charges and deferred income | 492/3 | - | €254 | +€254 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €480 | €85,178 | +€84,698 | +17645.5% |
| Other operating charges | 640/8 | €5,180 | €7,803 | +€2,623 | +50.6% |
| Gross operating margin | 9900 | €181,172 | €443,930 | +€262,757 | +145.0% |
| Operating profit (loss) | 9901 | €175,513 | €350,948 | +€175,436 | +100.0% |
| Financial income | 75/76B | €2 | €0 | -€2 | -100.0% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -100.0% |
| Financial charges | 65/66B | €13,470 | €152,688 | +€139,218 | +1033.6% |
| Recurring financial charges | 65 | €13,470 | €152,688 | +€139,218 | +1033.6% |
| Profit (loss) for the period before taxes | 9903 | €162,045 | €198,261 | +€36,216 | +22.3% |
| Income taxes | 67/77 | €43,047 | €94,354 | +€51,308 | +119.2% |
| Profit (loss) for the period | 9904 | €118,998 | €103,906 | -€15,092 | -12.7% |
| Profit (loss) for the period to be appropriated | 9905 | €118,998 | €103,906 | -€15,092 | -12.7% |
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 6 October 2026 via checked.be.