MPM: 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.
MPM
Largest movements
- Receivables within one year -€71,570
down €71,570 (-71.3%), from €100,409 to €28,839
of which Other amounts receivable: -€63,275
- Tangible fixed assets -€21,653
down €21,653 (-3.7%), from €592,468 to €570,815
of which Land and buildings: -€16,560
- Tax, wage and social debts -€67,745
down €67,745 (-99.9%), from €67,839 to €95
- Profit (loss) carried forward -€25,871
down €25,871 (-18.8%), from €137,885 to €112,015
- Other debts +€18,675
new in 2025: €18,675
- Reserves -€14,216
down €14,216 (-5.6%), from €255,443 to €241,226
of which Distributable reserves: -€14,216
- Debts after one year -€13,653
down €13,653 (-9.5%), from €143,270 to €129,617
- Gross operating margin +€23,628
up €23,628, from -€9,798 to €13,831
- Financial income -€7,159
down €7,159 (-96.3%), from €7,432 to €273
- Depreciation +€725
up €725 (+2.5%), from €28,447 to €29,172
- Financial charges -€641
down €641 (-7.2%), from €8,846 to €8,205
- Other operating charges -€614
down €614 (-17.1%), from €3,595 to €2,982
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 | €703,254 | €605,588 | -€97,666 | -13.9% |
| Fixed assets | 21/28 | €592,468 | €570,815 | -€21,653 | -3.7% |
| Tangible fixed assets | 22/27 | €592,468 | €570,815 | -€21,653 | -3.7% |
| Land and buildings | 22 | €567,062 | €550,502 | -€16,560 | -2.9% |
| Plant, machinery and equipment | 23 | €3,420 | €3,056 | -€364 | -10.6% |
| Furniture and vehicles | 24 | €21,986 | €17,257 | -€4,729 | -21.5% |
| Current assets | 29/58 | €110,786 | €34,773 | -€76,013 | -68.6% |
| Amounts receivable within one year | 40/41 | €100,409 | €28,839 | -€71,570 | -71.3% |
| Trade receivables | 40 | €8,295 | €0 | -€8,295 | -100.0% |
| Other amounts receivable | 41 | €92,114 | €28,839 | -€63,275 | -68.7% |
| Cash at bank and in hand | 54/58 | €9,801 | €5,934 | -€3,867 | -39.5% |
| Deferred charges and accrued income | 490/1 | €576 | €0 | -€576 | -100.0% |
| Total equity and liabilities | 10/49 | €703,254 | €605,588 | -€97,666 | -13.9% |
| Equity | 10/15 | €475,728 | €435,641 | -€40,087 | -8.4% |
| Contributions | 10/11 | €82,400 | €82,400 | = | 0.0% |
| Reserves | 13 | €255,443 | €241,226 | -€14,216 | -5.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €253,583 | €239,366 | -€14,216 | -5.6% |
| Profit (loss) carried forward | 14 | €137,885 | €112,015 | -€25,871 | -18.8% |
| Amounts payable | 17/49 | €227,526 | €169,947 | -€57,578 | -25.3% |
| Amounts payable after more than one year | 17 | €143,270 | €129,617 | -€13,653 | -9.5% |
| Financial debts | 170/4 | €143,270 | €129,617 | -€13,653 | -9.5% |
| Amounts payable within one year | 42/48 | €82,243 | €38,075 | -€44,168 | -53.7% |
| Current portion of amounts payable after more than one year | 42 | €13,120 | €13,653 | +€533 | +4.1% |
| Trade debts | 44 | €1,284 | €5,653 | +€4,368 | +340.1% |
| Suppliers | 440/4 | €1,284 | €5,653 | +€4,368 | +340.1% |
| Taxes, remuneration and social security | 45 | €67,839 | €95 | -€67,745 | -99.9% |
| Taxes | 450/3 | €67,839 | €95 | -€67,745 | -99.9% |
| Other amounts payable | 47/48 | - | €18,675 | +€18,675 | |
| Accrued charges and deferred income | 492/3 | €2,012 | €2,255 | +€242 | +12.0% |
| Non-recurring operating income | 76A | €5,780 | €0 | -€5,780 | -100.0% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,447 | €29,172 | +€725 | +2.5% |
| Other operating charges | 640/8 | €3,595 | €2,982 | -€614 | -17.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | -€9,798 | €13,831 | +€23,628 | |
| Operating profit (loss) | 9901 | -€41,840 | -€18,323 | +€23,517 | +56.2% |
| Financial income | 75/76B | €7,432 | €273 | -€7,159 | -96.3% |
| Recurring financial income | 75 | €7,432 | €273 | -€7,159 | -96.3% |
| Financial charges | 65/66B | €8,846 | €8,205 | -€641 | -7.2% |
| Recurring financial charges | 65 | €8,846 | €8,205 | -€641 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | -€43,254 | -€26,255 | +€16,999 | +39.3% |
| Income taxes | 67/77 | €6 | -€384 | -€391 | |
| Profit (loss) for the period | 9904 | -€43,260 | -€25,871 | +€17,389 | +40.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€43,260 | -€25,871 | +€17,389 | +40.2% |
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 11 October 2026 via checked.be.