M2M PROJECTS: 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.
M2M PROJECTS
Largest movements
- Tangible fixed assets -€11,132
down €11,132 (-40.1%), from €27,780 to €16,648
of which Land and buildings: -€13,890
- Debts after one year -€8,000
down €8,000 (-4.1%), from €193,400 to €185,400
- Profit (loss) carried forward -€2,920
down €2,920 (-1.6%), from -€186,888 to -€189,808
- Gross operating margin +€4,312
up €4,312 (+44.4%), from €9,721 to €14,033
- Depreciation +€689
up €689 (+5.0%), from €13,890 to €14,579
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 | €27,780 | €16,669 | -€11,111 | -40.0% |
| Fixed assets | 21/28 | €27,780 | €16,648 | -€11,132 | -40.1% |
| Tangible fixed assets | 22/27 | €27,780 | €16,648 | -€11,132 | -40.1% |
| Land and buildings | 22 | €27,780 | €13,890 | -€13,890 | -50.0% |
| Plant, machinery and equipment | 23 | - | €2,758 | +€2,758 | |
| Current assets | 29/58 | - | €21 | +€21 | |
| Cash at bank and in hand | 54/58 | - | €21 | +€21 | |
| Total equity and liabilities | 10/49 | €27,780 | €16,669 | -€11,111 | -40.0% |
| Equity | 10/15 | -€180,688 | -€183,608 | -€2,920 | -1.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€186,888 | -€189,808 | -€2,920 | -1.6% |
| Amounts payable | 17/49 | €208,468 | €200,277 | -€8,191 | -3.9% |
| Amounts payable after more than one year | 17 | €193,400 | €185,400 | -€8,000 | -4.1% |
| Other amounts payable | 178/9 | €193,400 | €185,400 | -€8,000 | -4.1% |
| Amounts payable within one year | 42/48 | €15,068 | €14,877 | -€191 | -1.3% |
| Financial debts | 43 | €169 | - | -€169 | |
| Credit institutions | 430/8 | €169 | - | -€169 | |
| Trade debts | 44 | €476 | €327 | -€150 | -31.4% |
| Suppliers | 440/4 | €476 | €327 | -€150 | -31.4% |
| Other amounts payable | 47/48 | €14,423 | €14,550 | +€127 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,890 | €14,579 | +€689 | +5.0% |
| Other operating charges | 640/8 | €2,133 | €2,264 | +€131 | +6.1% |
| Gross operating margin | 9900 | €9,721 | €14,033 | +€4,312 | +44.4% |
| Operating profit (loss) | 9901 | -€6,302 | -€2,810 | +€3,492 | +55.4% |
| Financial charges | 65/66B | €107 | €109 | +€3 | +2.7% |
| Recurring financial charges | 65 | €107 | €109 | +€3 | +2.7% |
| Profit (loss) for the period before taxes | 9903 | -€6,409 | -€2,920 | +€3,489 | +54.4% |
| Profit (loss) for the period | 9904 | -€6,409 | -€2,920 | +€3,489 | +54.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,409 | -€2,920 | +€3,489 | +54.4% |
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 29 October 2026 via checked.be.