mpm strategy: 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 strategy
Largest movements
- Deferred charges and accrued income +€39,265
up €39,265 (+434%), from €9,043 to €48,308
- Tangible fixed assets -€18,587
down €18,587 (-3.2%), from €586,116 to €567,529
of which Land and buildings: -€26,880
- Receivables within one year -€9,944
down €9,944 (-6.6%), from €150,575 to €140,632
of which Other amounts receivable: -€38,486
- Debts after one year -€40,732
down €40,732 (-8.3%), from €492,396 to €451,664
- Trade debts +€26,972
up €26,972 (+27.9%), from €96,718 to €123,690
- Reserves +€17,031
up €17,031 (+53.8%), from €31,643 to €48,674
- Gross operating margin +€18,626
up €18,626 (+22.2%), from €83,956 to €102,581
- Depreciation +€18,216
up €18,216 (+80.2%), from €22,706 to €40,922
- Financial charges +€13,750
up €13,750 (+71.4%), from €19,246 to €32,996
- Taxes -€3,305
down €3,305 (-26.1%), from €12,655 to €9,350
- Financial income +€1,544
up €1,544 (+252%), from €613 to €2,157
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 | €777,482 | €789,732 | +€12,250 | +1.6% |
| Fixed assets | 21/28 | €593,600 | €574,457 | -€19,143 | -3.2% |
| Intangible fixed assets | 21 | €7,485 | €6,928 | -€556 | -7.4% |
| Tangible fixed assets | 22/27 | €586,116 | €567,529 | -€18,587 | -3.2% |
| Land and buildings | 22 | €560,199 | €533,319 | -€26,880 | -4.8% |
| Plant, machinery and equipment | 23 | €19,168 | €16,117 | -€3,050 | -15.9% |
| Furniture and vehicles | 24 | €3,439 | €15,647 | +€12,208 | +355% |
| Other tangible fixed assets | 26 | €3,310 | €2,445 | -€865 | -26.1% |
| Current assets | 29/58 | €183,882 | €215,275 | +€31,393 | +17.1% |
| Amounts receivable within one year | 40/41 | €150,575 | €140,632 | -€9,944 | -6.6% |
| Trade receivables | 40 | €109,297 | €137,839 | +€28,542 | +26.1% |
| Other amounts receivable | 41 | €41,278 | €2,792 | -€38,486 | -93.2% |
| Cash at bank and in hand | 54/58 | €24,263 | €26,335 | +€2,072 | +8.5% |
| Deferred charges and accrued income | 490/1 | €9,043 | €48,308 | +€39,265 | +434% |
| Total equity and liabilities | 10/49 | €777,482 | €789,732 | +€12,250 | +1.6% |
| Equity | 10/15 | €50,243 | €67,274 | +€17,031 | +33.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €31,643 | €48,674 | +€17,031 | +53.8% |
| Distributable reserves | 133 | €31,643 | €48,674 | +€17,031 | +53.8% |
| Amounts payable | 17/49 | €727,239 | €722,458 | -€4,781 | -0.7% |
| Amounts payable after more than one year | 17 | €492,396 | €451,664 | -€40,732 | -8.3% |
| Financial debts | 170/4 | €492,396 | €451,664 | -€40,732 | -8.3% |
| Amounts payable within one year | 42/48 | €221,546 | €251,355 | +€29,809 | +13.5% |
| Current portion of amounts payable after more than one year | 42 | €38,742 | €40,732 | +€1,990 | +5.1% |
| Financial debts | 43 | - | €6,949 | +€6,949 | |
| Credit institutions | 430/8 | - | €6,949 | +€6,949 | |
| Trade debts | 44 | €96,718 | €123,690 | +€26,972 | +27.9% |
| Suppliers | 440/4 | €96,718 | €123,690 | +€26,972 | +27.9% |
| Taxes, remuneration and social security | 45 | €17,455 | €12,510 | -€4,945 | -28.3% |
| Taxes | 450/3 | €17,455 | €12,510 | -€4,945 | -28.3% |
| Other amounts payable | 47/48 | €68,631 | €67,474 | -€1,157 | -1.7% |
| Accrued charges and deferred income | 492/3 | €13,296 | €19,438 | +€6,142 | +46.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,706 | €40,922 | +€18,216 | +80.2% |
| Other operating charges | 640/8 | €4,414 | €4,440 | +€26 | +0.6% |
| Gross operating margin | 9900 | €83,956 | €102,581 | +€18,626 | +22.2% |
| Operating profit (loss) | 9901 | €56,836 | €57,220 | +€384 | +0.7% |
| Financial income | 75/76B | €613 | €2,157 | +€1,544 | +252% |
| Recurring financial income | 75 | €613 | €2,157 | +€1,544 | +252% |
| Financial charges | 65/66B | €19,246 | €32,996 | +€13,750 | +71.4% |
| Recurring financial charges | 65 | €19,246 | €32,996 | +€13,750 | +71.4% |
| Profit (loss) for the period before taxes | 9903 | €38,203 | €26,380 | -€11,822 | -30.9% |
| Income taxes | 67/77 | €12,655 | €9,350 | -€3,305 | -26.1% |
| Profit (loss) for the period | 9904 | €25,548 | €17,031 | -€8,517 | -33.3% |
| Profit (loss) for the period to be appropriated | 9905 | €25,548 | €17,031 | -€8,517 | -33.3% |
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 17 October 2026 via checked.be.