MN2: 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.
MN2
Largest movements
- Cash -€56,772
down €56,772 (-60.0%), from €94,677 to €37,904
mainly Receivables within one year (-€35,236) and Investment in fixed assets (net) (-€12,650)
- Receivables within one year +€35,236
up €35,236 (+106.0%), from €33,240 to €68,476
of which Trade receivables: +€23,517
- Intangible fixed assets +€10,276
new in 2025: €10,276
- Tangible fixed assets +€1,752
new in 2025: €1,752
- Deferred charges and accrued income +€1,573
up €1,573 (+285.6%), from €551 to €2,124
- Reserves +€10,817
new in 2025: €10,817
- Trade debts -€7,707
down €7,707 (-7.1%), from €108,023 to €100,315
- Other debts -€5,573
down €5,573 (-99.9%), from €5,578 to €5
- Debts after one year -€4,458
down €4,458 (-69.7%), from €6,395 to €1,937
- Gross operating margin +€10,476
up €10,476 (+591.5%), from €1,771 to €12,247
- Other operating charges +€1,028
new in 2025: €1,028
- Depreciation +€622
new in 2025: €622
- Taxes +€444
new in 2025: €444
- Financial charges +€140
up €140 (+28.0%), from €498 to €638
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 | €128,467 | €120,532 | -€7,935 | -6.2% |
| Fixed assets | 21/28 | - | €12,028 | +€12,028 | |
| Intangible fixed assets | 21 | - | €10,276 | +€10,276 | |
| Tangible fixed assets | 22/27 | - | €1,752 | +€1,752 | |
| Furniture and vehicles | 24 | - | €1,752 | +€1,752 | |
| Current assets | 29/58 | €128,467 | €108,504 | -€19,964 | -15.5% |
| Amounts receivable within one year | 40/41 | €33,240 | €68,476 | +€35,236 | +106.0% |
| Trade receivables | 40 | €32,183 | €55,700 | +€23,517 | +73.1% |
| Other amounts receivable | 41 | €1,057 | €12,776 | +€11,719 | +1108.7% |
| Cash at bank and in hand | 54/58 | €94,677 | €37,904 | -€56,772 | -60.0% |
| Deferred charges and accrued income | 490/1 | €551 | €2,124 | +€1,573 | +285.6% |
| Total equity and liabilities | 10/49 | €128,467 | €120,532 | -€7,935 | -6.2% |
| Equity | 10/15 | €4,273 | €13,817 | +€9,544 | +223.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | - | €10,817 | +€10,817 | |
| Distributable reserves | 133 | - | €10,817 | +€10,817 | |
| Profit (loss) carried forward | 14 | €1,273 | €0 | -€1,273 | -100.0% |
| Amounts payable | 17/49 | €124,195 | €106,715 | -€17,480 | -14.1% |
| Amounts payable after more than one year | 17 | €6,395 | €1,937 | -€4,458 | -69.7% |
| Financial debts | 170/4 | €6,395 | €1,937 | -€4,458 | -69.7% |
| Amounts payable within one year | 42/48 | €117,800 | €104,778 | -€13,022 | -11.1% |
| Current portion of amounts payable after more than one year | 42 | €4,199 | €4,458 | +€259 | +6.2% |
| Trade debts | 44 | €108,023 | €100,315 | -€7,707 | -7.1% |
| Suppliers | 440/4 | €108,023 | €100,315 | -€7,707 | -7.1% |
| Other amounts payable | 47/48 | €5,578 | €5 | -€5,573 | -99.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €622 | +€622 | |
| Other operating charges | 640/8 | - | €1,028 | +€1,028 | |
| Gross operating margin | 9900 | €1,771 | €12,247 | +€10,476 | +591.5% |
| Operating profit (loss) | 9901 | €1,771 | €10,597 | +€8,826 | +498.3% |
| Financial income | 75/76B | - | €29 | +€29 | |
| Recurring financial income | 75 | - | €29 | +€29 | |
| Financial charges | 65/66B | €498 | €638 | +€140 | +28.0% |
| Recurring financial charges | 65 | €498 | €638 | +€140 | +28.0% |
| Profit (loss) for the period before taxes | 9903 | €1,273 | €9,988 | +€8,715 | +684.7% |
| Income taxes | 67/77 | - | €444 | +€444 | |
| Profit (loss) for the period | 9904 | €1,273 | €9,544 | +€8,272 | +649.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,273 | €9,544 | +€8,272 | +649.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.