M&B Projects: what changed
Two fiscal 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&B Projects
Largest movements
- Receivables within one year +€47,495
up €47,495 (+109.7%), from €43,289 to €90,784
of which Trade receivables: +€47,899
- Other debts +€40,826
up €40,826 (+10.3%), from €396,294 to €437,120
- Debts after one year -€18,106
down €18,106 (-5.9%), from €305,080 to €286,975
- Profit (loss) carried forward +€17,791
up €17,791 (+17.4%), from -€102,539 to -€84,748
- Gross operating margin +€26,010
up €26,010 (+110.7%), from €23,491 to €49,501
- Depreciation +€1,912
up €1,912 (+7.7%), from €24,771 to €26,683
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 | €655,564 | €703,067 | +€47,503 | +7.2% |
| Fixed assets | 21/28 | €610,974 | €610,260 | -€714 | -0.1% |
| Tangible fixed assets | 22/27 | €610,974 | €610,260 | -€714 | -0.1% |
| Land and buildings | 22 | €424,205 | €414,021 | -€10,184 | -2.4% |
| Furniture and vehicles | 24 | €1,400 | €1,549 | +€149 | +10.7% |
| Other tangible fixed assets | 26 | €185,370 | €194,690 | +€9,321 | +5.0% |
| Current assets | 29/58 | €44,590 | €92,807 | +€48,217 | +108.1% |
| Amounts receivable within one year | 40/41 | €43,289 | €90,784 | +€47,495 | +109.7% |
| Trade receivables | 40 | €42,699 | €90,598 | +€47,899 | +112.2% |
| Other amounts receivable | 41 | €590 | €186 | -€404 | -68.4% |
| Cash at bank and in hand | 54/58 | €1,301 | €2,023 | +€722 | +55.5% |
| Total equity and liabilities | 10/49 | €655,564 | €703,067 | +€47,503 | +7.2% |
| Equity | 10/15 | -€83,939 | -€66,148 | +€17,791 | +21.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€102,539 | -€84,748 | +€17,791 | +17.4% |
| Amounts payable | 17/49 | €739,503 | €769,215 | +€29,712 | +4.0% |
| Amounts payable after more than one year | 17 | €305,080 | €286,975 | -€18,106 | -5.9% |
| Financial debts | 170/4 | €305,080 | €286,975 | -€18,106 | -5.9% |
| Amounts payable within one year | 42/48 | €434,422 | €482,240 | +€47,818 | +11.0% |
| Current portion of amounts payable after more than one year | 42 | €17,798 | €18,106 | +€308 | +1.7% |
| Trade debts | 44 | €20,330 | €27,002 | +€6,672 | +32.8% |
| Suppliers | 440/4 | €20,330 | €27,002 | +€6,672 | +32.8% |
| Taxes, remuneration and social security | 45 | - | €13 | +€13 | |
| Taxes | 450/3 | - | €13 | +€13 | |
| Other amounts payable | 47/48 | €396,294 | €437,120 | +€40,826 | +10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,771 | €26,683 | +€1,912 | +7.7% |
| Other operating charges | 640/8 | €1,854 | €1,917 | +€63 | +3.4% |
| Gross operating margin | 9900 | €23,491 | €49,501 | +€26,010 | +110.7% |
| Operating profit (loss) | 9901 | -€3,135 | €20,901 | +€24,035 | |
| Financial charges | 65/66B | €3,385 | €3,110 | -€275 | -8.1% |
| Recurring financial charges | 65 | €3,385 | €3,110 | -€275 | -8.1% |
| Profit (loss) for the period before taxes | 9903 | -€6,520 | €17,791 | +€24,311 | |
| Profit (loss) for the period | 9904 | -€6,520 | €17,791 | +€24,311 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,520 | €17,791 | +€24,311 |
Source: filed annual accounts (NBB), fiscal years ended 29 February 2024 and 28 February 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.