M BOUW: 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 BOUW
Largest movements
- Stocks and contracts +€14,203
up €14,203 (+43.8%), from €32,394 to €46,597
of which Contracts in progress: +€18,513
- Receivables within one year -€7,180
down €7,180 (-3.5%), from €204,605 to €197,425
of which Trade receivables: -€8,061
- Cash +€3,780
up €3,780 (+92.7%), from €4,077 to €7,857
mainly Net result for the year (+€10,475) and Receivables within one year (+€7,180)
- Profit (loss) carried forward +€10,475
up €10,475 (+35.9%), from €29,163 to €39,637
- Advances received +€4,090
new in 2025: €4,090
- Trade debts -€3,607
down €3,607 (-31.5%), from €11,458 to €7,851
- Purchases and services -€143,949
no longer reported in 2025 (was €143,949)
- Gross operating margin +€5,880
up €5,880 (+80.8%), from €7,278 to €13,158
- Taxes -€3,700
no longer reported in 2025 (was €3,700)
- Other operating charges +€1,920
up €1,920 (+282%), from €681 to €2,601
- Financial charges -€415
down €415 (-76.4%), from €543 to €128
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 | €242,921 | €253,379 | +€10,458 | +4.3% |
| Fixed assets | 21/28 | €1,500 | €1,500 | = | 0.0% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €241,421 | €251,879 | +€10,458 | +4.3% |
| Stocks and contracts in progress | 3 | €32,394 | €46,597 | +€14,203 | +43.8% |
| Stocks | 30/36 | €8,607 | €4,297 | -€4,309 | -50.1% |
| Contracts in progress | 37 | €23,787 | €42,300 | +€18,513 | +77.8% |
| Amounts receivable within one year | 40/41 | €204,605 | €197,425 | -€7,180 | -3.5% |
| Trade receivables | 40 | €190,011 | €181,950 | -€8,061 | -4.2% |
| Other amounts receivable | 41 | €14,594 | €15,475 | +€881 | +6.0% |
| Cash at bank and in hand | 54/58 | €4,077 | €7,857 | +€3,780 | +92.7% |
| Deferred charges and accrued income | 490/1 | €345 | - | -€345 | |
| Total equity and liabilities | 10/49 | €242,921 | €253,379 | +€10,458 | +4.3% |
| Equity | 10/15 | €29,164 | €39,638 | +€10,475 | +35.9% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,163 | €39,637 | +€10,475 | +35.9% |
| Amounts payable | 17/49 | €213,757 | €213,741 | -€17 | 0.0% |
| Amounts payable within one year | 42/48 | €213,757 | €213,741 | -€17 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €186,200 | €186,200 | = | 0.0% |
| Trade debts | 44 | €11,458 | €7,851 | -€3,607 | -31.5% |
| Suppliers | 440/4 | €11,458 | €7,851 | -€3,607 | -31.5% |
| Advances received on contracts in progress | 46 | - | €4,090 | +€4,090 | |
| Taxes, remuneration and social security | 45 | €16,100 | €15,600 | -€500 | -3.1% |
| Remuneration and social security | 454/9 | €16,100 | €15,600 | -€500 | -3.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €143,949 | - | -€143,949 | |
| Remuneration, social security and pensions | 62 | €52 | - | -€52 | |
| Other operating charges | 640/8 | €681 | €2,601 | +€1,920 | +282% |
| Gross operating margin | 9900 | €7,278 | €13,158 | +€5,880 | +80.8% |
| Operating profit (loss) | 9901 | €6,545 | €10,557 | +€4,012 | +61.3% |
| Financial income | 75/76B | €9 | €46 | +€37 | +401% |
| Recurring financial income | 75 | €9 | €46 | +€37 | +401% |
| Financial charges | 65/66B | €543 | €128 | -€415 | -76.4% |
| Recurring financial charges | 65 | €543 | €128 | -€415 | -76.4% |
| Profit (loss) for the period before taxes | 9903 | €6,011 | €10,475 | +€4,464 | +74.3% |
| Income taxes | 67/77 | €3,700 | - | -€3,700 | |
| Profit (loss) for the period | 9904 | €2,311 | €10,475 | +€8,164 | +353% |
| Profit (loss) for the period to be appropriated | 9905 | €2,311 | €10,475 | +€8,164 | +353% |
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 20 October 2026 via checked.be.