MMZ: 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.
MMZ
Largest movements
- Tangible fixed assets -€37,073
down €37,073 (-34.7%), from €106,759 to €69,686
of which Furniture and vehicles: -€21,014
- Receivables within one year -€9,972
down €9,972 (-96.7%), from €10,309 to €337
of which Other amounts receivable: -€9,260
- Cash -€2,485
down €2,485 (-2.0%), from €123,372 to €120,887
mainly Other debts (-€56,304) and Contributions, distributions and other (-€46,000)
- Other debts -€56,304
down €56,304 (-66.3%), from €84,900 to €28,596
- Tax, wage and social debts +€28,786
up €28,786 (+219%), from €13,145 to €41,931
of which Taxes: +€19,652
- Debts after one year -€14,672
no longer reported in 2025 (was €14,672)
- Profit (loss) carried forward -€6,712
down €6,712 (-15.4%), from €43,528 to €36,817
- Trade debts +€3,361
up €3,361 (+10.5%), from €32,145 to €35,506
- Gross operating margin +€67,835
up €67,835 (+50.4%), from €134,513 to €202,348
- Taxes +€13,783
up €13,783 (+52,346%), from €26 to €13,809
- Other operating charges +€2,243
up €2,243 (+64.3%), from €3,491 to €5,735
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 | €245,186 | €197,523 | -€47,663 | -19.4% |
| Fixed assets | 21/28 | €106,879 | €69,806 | -€37,073 | -34.7% |
| Tangible fixed assets | 22/27 | €106,759 | €69,686 | -€37,073 | -34.7% |
| Plant, machinery and equipment | 23 | €8,550 | €4,892 | -€3,659 | -42.8% |
| Furniture and vehicles | 24 | €66,422 | €45,408 | -€21,014 | -31.6% |
| Other tangible fixed assets | 26 | €31,786 | €19,386 | -€12,400 | -39.0% |
| Financial fixed assets | 28 | €120 | €120 | = | 0.0% |
| Current assets | 29/58 | €138,307 | €127,716 | -€10,591 | -7.7% |
| Stocks and contracts in progress | 3 | €1,746 | €2,946 | +€1,200 | +68.7% |
| Stocks | 30/36 | €1,746 | €2,946 | +€1,200 | +68.7% |
| Amounts receivable within one year | 40/41 | €10,309 | €337 | -€9,972 | -96.7% |
| Trade receivables | 40 | €712 | - | -€712 | |
| Other amounts receivable | 41 | €9,598 | €337 | -€9,260 | -96.5% |
| Cash at bank and in hand | 54/58 | €123,372 | €120,887 | -€2,485 | -2.0% |
| Deferred charges and accrued income | 490/1 | €2,879 | €3,546 | +€667 | +23.2% |
| Total equity and liabilities | 10/49 | €245,186 | €197,523 | -€47,663 | -19.4% |
| Equity | 10/15 | €83,528 | €76,817 | -€6,712 | -8.0% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €43,528 | €36,817 | -€6,712 | -15.4% |
| Amounts payable | 17/49 | €161,658 | €120,706 | -€40,952 | -25.3% |
| Amounts payable after more than one year | 17 | €14,672 | - | -€14,672 | |
| Financial debts | 170/4 | €14,672 | - | -€14,672 | |
| Amounts payable within one year | 42/48 | €146,985 | €120,706 | -€26,280 | -17.9% |
| Current portion of amounts payable after more than one year | 42 | €16,795 | €14,672 | -€2,123 | -12.6% |
| Trade debts | 44 | €32,145 | €35,506 | +€3,361 | +10.5% |
| Suppliers | 440/4 | €32,145 | €35,506 | +€3,361 | +10.5% |
| Taxes, remuneration and social security | 45 | €13,145 | €41,931 | +€28,786 | +219% |
| Taxes | 450/3 | €7,980 | €27,631 | +€19,652 | +246% |
| Remuneration and social security | 454/9 | €5,165 | €14,300 | +€9,135 | +177% |
| Other amounts payable | 47/48 | €84,900 | €28,596 | -€56,304 | -66.3% |
| Remuneration, social security and pensions | 62 | €102,826 | €103,174 | +€348 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,011 | €34,398 | -€613 | -1.8% |
| Other operating charges | 640/8 | €3,491 | €5,735 | +€2,243 | +64.3% |
| Non-recurring operating charges | 66A | - | €4,427 | +€4,427 | |
| Gross operating margin | 9900 | €134,513 | €202,348 | +€67,835 | +50.4% |
| Operating profit (loss) | 9901 | -€6,816 | €54,614 | +€61,430 | |
| Financial income | 75/76B | €26 | €35 | +€9 | +35.3% |
| Recurring financial income | 75 | €26 | €35 | +€9 | +35.3% |
| Financial charges | 65/66B | €2,237 | €1,551 | -€685 | -30.6% |
| Recurring financial charges | 65 | €2,237 | €1,551 | -€685 | -30.6% |
| Profit (loss) for the period before taxes | 9903 | -€9,026 | €53,097 | +€62,124 | |
| Income taxes | 67/77 | €26 | €13,809 | +€13,783 | +52,346% |
| Profit (loss) for the period | 9904 | -€9,053 | €39,288 | +€48,341 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,053 | €39,288 | +€48,341 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.