MXM MASHAR: 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.
MXM MASHAR
Largest movements
- Stocks and contracts +€58,810
up €58,810 (+146%), from €40,340 to €99,150
- Cash -€8,449
down €8,449 (-44.1%), from €19,151 to €10,702
mainly Stocks and contracts (-€58,810) and Net result for the year (-€31,432)
- Tangible fixed assets +€6,691
up €6,691 (+652%), from €1,027 to €7,718
of which Furniture and vehicles: +€6,781
- Deferred charges and accrued income -€5,000
no longer reported in 2025 (was €5,000)
- Receivables within one year -€1,400
down €1,400 (-14.1%), from €9,941 to €8,541
of which Other amounts receivable: -€9,941
- Trade debts +€47,708
up €47,708 (+54,387%), from €88 to €47,796
- Other debts +€31,931
new in 2025: €31,931
- Profit (loss) carried forward -€31,432
down €31,432, from €4,910 to -€26,521
- Tax, wage and social debts +€2,445
new in 2025: €2,445
- Gross operating margin -€23,472
down €23,472 (-2,144%), from -€1,095 to -€24,567
- Depreciation +€2,109
up €2,109 (+1,057%), from €199 to €2,309
- Financial income -€1,948
no longer reported in 2025 (was €1,948)
- Financial charges -€459
down €459 (-12.5%), from €3,680 to €3,221
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 | €75,458 | €126,111 | +€50,653 | +67.1% |
| Fixed assets | 21/28 | €1,027 | €7,718 | +€6,691 | +652% |
| Tangible fixed assets | 22/27 | €1,027 | €7,718 | +€6,691 | +652% |
| Plant, machinery and equipment | 23 | €396 | €306 | -€90 | -22.7% |
| Furniture and vehicles | 24 | €631 | €7,412 | +€6,781 | +1,075% |
| Current assets | 29/58 | €74,431 | €118,393 | +€43,961 | +59.1% |
| Stocks and contracts in progress | 3 | €40,340 | €99,150 | +€58,810 | +146% |
| Stocks | 30/36 | €40,340 | €99,150 | +€58,810 | +146% |
| Amounts receivable within one year | 40/41 | €9,941 | €8,541 | -€1,400 | -14.1% |
| Trade receivables | 40 | - | €8,541 | +€8,541 | |
| Other amounts receivable | 41 | €9,941 | - | -€9,941 | |
| Cash at bank and in hand | 54/58 | €19,151 | €10,702 | -€8,449 | -44.1% |
| Deferred charges and accrued income | 490/1 | €5,000 | - | -€5,000 | |
| Total equity and liabilities | 10/49 | €75,458 | €126,111 | +€50,653 | +67.1% |
| Equity | 10/15 | €25,370 | -€6,061 | -€31,432 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,910 | -€26,521 | -€31,432 | |
| Amounts payable | 17/49 | €50,088 | €132,172 | +€82,084 | +164% |
| Amounts payable within one year | 42/48 | €50,088 | €132,172 | +€82,084 | +164% |
| Financial debts | 43 | €50,000 | €50,000 | = | 0.0% |
| Credit institutions | 430/8 | €50,000 | €50,000 | = | 0.0% |
| Trade debts | 44 | €88 | €47,796 | +€47,708 | +54,387% |
| Suppliers | 440/4 | €88 | €47,796 | +€47,708 | +54,387% |
| Taxes, remuneration and social security | 45 | - | €2,445 | +€2,445 | |
| Taxes | 450/3 | - | €2,445 | +€2,445 | |
| Other amounts payable | 47/48 | - | €31,931 | +€31,931 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €199 | €2,309 | +€2,109 | +1,057% |
| Other operating charges | 640/8 | €1,277 | €1,336 | +€59 | +4.6% |
| Gross operating margin | 9900 | -€1,095 | -€24,567 | -€23,472 | -2,144% |
| Operating profit (loss) | 9901 | -€2,571 | -€28,211 | -€25,640 | -997% |
| Financial income | 75/76B | €1,948 | - | -€1,948 | |
| Recurring financial income | 75 | €1,948 | - | -€1,948 | |
| Financial charges | 65/66B | €3,680 | €3,221 | -€459 | -12.5% |
| Recurring financial charges | 65 | €3,680 | €3,221 | -€459 | -12.5% |
| Profit (loss) for the period before taxes | 9903 | -€4,303 | -€31,432 | -€27,129 | -631% |
| Profit (loss) for the period | 9904 | -€4,303 | -€31,432 | -€27,129 | -631% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,303 | -€31,432 | -€27,129 | -631% |
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 15 October 2026 via checked.be.