MMV Concept: 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.
MMV Concept
Largest movements
- Receivables within one year -€9,285
down €9,285 (-26.3%), from €35,244 to €25,959
of which Trade receivables: -€5,000
- Tangible fixed assets -€7,129
down €7,129 (-24.5%), from €29,085 to €21,956
- Other debts -€10,460
down €10,460 (-6.6%), from €157,462 to €147,002
- Profit (loss) carried forward +€7,028
up €7,028 (+5.6%), from €125,076 to €132,105
- Debts after one year -€6,886
down €6,886 (-30.3%), from €22,744 to €15,858
- Write-downs -€54,137
no longer reported in 2025 (was €54,137)
- Gross operating margin -€33,518
down €33,518 (-53.4%), from €62,784 to €29,266
- Financial charges +€1,951
up €1,951 (+160.3%), from €1,217 to €3,168
- Taxes +€1,213
up €1,213 (+46.4%), from €2,614 to €3,828
- Depreciation +€1,140
up €1,140 (+19.0%), from €5,989 to €7,129
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 | €456,823 | €440,317 | -€16,506 | -3.6% |
| Fixed assets | 21/28 | €421,085 | €413,956 | -€7,129 | -1.7% |
| Tangible fixed assets | 22/27 | €29,085 | €21,956 | -€7,129 | -24.5% |
| Furniture and vehicles | 24 | €29,085 | €21,956 | -€7,129 | -24.5% |
| Financial fixed assets | 28 | €392,000 | €392,000 | = | 0.0% |
| Current assets | 29/58 | €35,738 | €26,361 | -€9,377 | -26.2% |
| Amounts receivable within one year | 40/41 | €35,244 | €25,959 | -€9,285 | -26.3% |
| Trade receivables | 40 | €20,051 | €15,051 | -€5,000 | -24.9% |
| Other amounts receivable | 41 | €15,193 | €10,908 | -€4,285 | -28.2% |
| Cash at bank and in hand | 54/58 | €218 | €110 | -€108 | -49.6% |
| Deferred charges and accrued income | 490/1 | €276 | €292 | +€16 | +5.8% |
| Total equity and liabilities | 10/49 | €456,823 | €440,317 | -€16,506 | -3.6% |
| Equity | 10/15 | €250,076 | €257,105 | +€7,028 | +2.8% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €75,000 | €75,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €70,000 | €70,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €125,076 | €132,105 | +€7,028 | +5.6% |
| Amounts payable | 17/49 | €206,747 | €183,212 | -€23,534 | -11.4% |
| Amounts payable after more than one year | 17 | €22,744 | €15,858 | -€6,886 | -30.3% |
| Financial debts | 170/4 | €22,744 | €15,858 | -€6,886 | -30.3% |
| Amounts payable within one year | 42/48 | €184,003 | €167,354 | -€16,648 | -9.0% |
| Current portion of amounts payable after more than one year | 42 | €6,627 | €6,886 | +€259 | +3.9% |
| Trade debts | 44 | €8,168 | €5,205 | -€2,963 | -36.3% |
| Suppliers | 440/4 | €8,168 | €5,205 | -€2,963 | -36.3% |
| Taxes, remuneration and social security | 45 | €11,745 | €8,261 | -€3,484 | -29.7% |
| Taxes | 450/3 | €11,745 | €8,261 | -€3,484 | -29.7% |
| Other amounts payable | 47/48 | €157,462 | €147,002 | -€10,460 | -6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,989 | €7,129 | +€1,140 | +19.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €54,137 | - | -€54,137 | |
| Other operating charges | 640/8 | €1,596 | €1,273 | -€322 | -20.2% |
| Gross operating margin | 9900 | €62,784 | €29,266 | -€33,518 | -53.4% |
| Operating profit (loss) | 9901 | €1,063 | €20,864 | +€19,801 | +1863.6% |
| Financial income | 75/76B | €782 | €660 | -€122 | -15.6% |
| Recurring financial income | 75 | €782 | €660 | -€122 | -15.6% |
| Financial charges | 65/66B | €1,217 | €3,168 | +€1,951 | +160.3% |
| Recurring financial charges | 65 | €1,217 | €3,168 | +€1,951 | +160.3% |
| Profit (loss) for the period before taxes | 9903 | €628 | €18,356 | +€17,728 | +2824.7% |
| Income taxes | 67/77 | €2,614 | €3,828 | +€1,213 | +46.4% |
| Profit (loss) for the period | 9904 | -€1,987 | €14,528 | +€16,515 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,987 | €14,528 | +€16,515 |
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 10 October 2026 via checked.be.