M-CREATIVES: 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.
M-CREATIVES
Largest movements
- Receivables within one year +€61,750
up €61,750 (+29.7%), from €207,856 to €269,606
of which Other amounts receivable: +€33,648
- Receivables after one year -€23,200
no longer reported in 2025 (was €23,200)
- Intangible fixed assets -€7,150
down €7,150 (-48.0%), from €14,896 to €7,746
- Deferred charges and accrued income -€5,020
down €5,020 (-71.8%), from €6,991 to €1,971
- Cash +€4,308
up €4,308 (+13.0%), from €33,121 to €37,429
mainly Net result for the year (+€88,561) and Trade debts (+€30,816)
- Trade debts +€30,816
up €30,816 (+42.1%), from €73,240 to €104,056
- Accrued charges and deferred income +€24,036
up €24,036 (+581%), from €4,138 to €28,174
- Tax, wage and social debts -€18,537
down €18,537 (-47.9%), from €38,732 to €20,194
of which Taxes: -€18,611
- Profit (loss) carried forward -€5,556
down €5,556 (-3.5%), from €157,309 to €151,752
- Debts after one year -€5,477
down €5,477 (-77.4%), from €7,073 to €1,596
- Gross operating margin +€4,731
up €4,731 (+3.2%), from €145,900 to €150,630
- Staff costs +€3,576
up €3,576 (+22.7%), from €15,768 to €19,344
- Financial income +€3,515
up €3,515 (+49.7%), from €7,076 to €10,591
- Other operating charges +€2,550
up €2,550 (+136%), from €1,871 to €4,421
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 | €320,869 | €345,339 | +€24,470 | +7.6% |
| Fixed assets | 21/28 | €42,831 | €33,557 | -€9,274 | -21.7% |
| Intangible fixed assets | 21 | €14,896 | €7,746 | -€7,150 | -48.0% |
| Tangible fixed assets | 22/27 | €25,362 | €23,238 | -€2,124 | -8.4% |
| Plant, machinery and equipment | 23 | €11,284 | €8,961 | -€2,323 | -20.6% |
| Furniture and vehicles | 24 | €5,963 | €7,098 | +€1,134 | +19.0% |
| Other tangible fixed assets | 26 | €8,115 | €7,179 | -€936 | -11.5% |
| Financial fixed assets | 28 | €2,574 | €2,574 | = | 0.0% |
| Current assets | 29/58 | €278,038 | €311,782 | +€33,744 | +12.1% |
| Amounts receivable after more than one year | 29 | €23,200 | - | -€23,200 | |
| Other amounts receivable | 291 | €23,200 | - | -€23,200 | |
| Stocks and contracts in progress | 3 | €6,869 | €2,776 | -€4,093 | -59.6% |
| Stocks | 30/36 | €6,869 | €2,776 | -€4,093 | -59.6% |
| Amounts receivable within one year | 40/41 | €207,856 | €269,606 | +€61,750 | +29.7% |
| Trade receivables | 40 | €41,205 | €69,307 | +€28,102 | +68.2% |
| Other amounts receivable | 41 | €166,651 | €200,299 | +€33,648 | +20.2% |
| Cash at bank and in hand | 54/58 | €33,121 | €37,429 | +€4,308 | +13.0% |
| Deferred charges and accrued income | 490/1 | €6,991 | €1,971 | -€5,020 | -71.8% |
| Total equity and liabilities | 10/49 | €320,869 | €345,339 | +€24,470 | +7.6% |
| Equity | 10/15 | €183,769 | €178,212 | -€5,556 | -3.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €7,860 | €7,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €157,309 | €151,752 | -€5,556 | -3.5% |
| Amounts payable | 17/49 | €137,100 | €167,127 | +€30,026 | +21.9% |
| Amounts payable after more than one year | 17 | €7,073 | €1,596 | -€5,477 | -77.4% |
| Financial debts | 170/4 | €7,073 | €1,596 | -€5,477 | -77.4% |
| Amounts payable within one year | 42/48 | €125,890 | €137,357 | +€11,467 | +9.1% |
| Current portion of amounts payable after more than one year | 42 | €13,918 | €13,106 | -€812 | -5.8% |
| Trade debts | 44 | €73,240 | €104,056 | +€30,816 | +42.1% |
| Suppliers | 440/4 | €73,240 | €104,056 | +€30,816 | +42.1% |
| Taxes, remuneration and social security | 45 | €38,732 | €20,194 | -€18,537 | -47.9% |
| Taxes | 450/3 | €36,737 | €18,126 | -€18,611 | -50.7% |
| Remuneration and social security | 454/9 | €1,994 | €2,068 | +€74 | +3.7% |
| Accrued charges and deferred income | 492/3 | €4,138 | €28,174 | +€24,036 | +581% |
| Remuneration, social security and pensions | 62 | €15,768 | €19,344 | +€3,576 | +22.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,238 | €15,794 | +€556 | +3.7% |
| Other operating charges | 640/8 | €1,871 | €4,421 | +€2,550 | +136% |
| Non-recurring operating charges | 66A | €2,969 | €2,545 | -€424 | -14.3% |
| Gross operating margin | 9900 | €145,900 | €150,630 | +€4,731 | +3.2% |
| Operating profit (loss) | 9901 | €110,054 | €108,527 | -€1,527 | -1.4% |
| Financial income | 75/76B | €7,076 | €10,591 | +€3,515 | +49.7% |
| Recurring financial income | 75 | €7,076 | €10,591 | +€3,515 | +49.7% |
| Financial charges | 65/66B | €3,882 | €4,438 | +€556 | +14.3% |
| Recurring financial charges | 65 | €3,882 | €4,438 | +€556 | +14.3% |
| Profit (loss) for the period before taxes | 9903 | €113,249 | €114,680 | +€1,432 | +1.3% |
| Income taxes | 67/77 | €26,063 | €26,119 | +€56 | +0.2% |
| Profit (loss) for the period | 9904 | €87,186 | €88,561 | +€1,376 | +1.6% |
| Profit (loss) for the period to be appropriated | 9905 | €87,186 | €88,561 | +€1,376 | +1.6% |
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 27 October 2026 via checked.be.