M&C 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.
M&C PROJECTS
Largest movements
- Cash -€6,559
down €6,559 (-31.3%), from €20,939 to €14,380
mainly Trade debts (-€12,187) and Investment in fixed assets (net) (-€6,968)
- Stocks and contracts -€4,929
down €4,929 (-73.0%), from €6,748 to €1,819
of which Stocks: -€2,729
- Tangible fixed assets +€2,217
up €2,217 (+44.8%), from €4,946 to €7,163
of which Furniture and vehicles: +€3,406
- Receivables within one year +€1,661
up €1,661 (+188.1%), from €883 to €2,544
- Trade debts -€12,187
down €12,187 (-86.3%), from €14,117 to €1,930
- Reserves +€4,573
new in 2025: €4,573
- Tax, wage and social debts +€608
up €608 (+41.5%), from €1,464 to €2,072
- Debts after one year -€603
down €603 (-4.2%), from €14,451 to €13,847
- Gross operating margin -€6,136
down €6,136 (-29.9%), from €20,500 to €14,364
- Depreciation -€926
down €926 (-16.3%), from €5,677 to €4,751
- Taxes +€608
up €608 (+41.5%), from €1,464 to €2,072
- Financial charges +€465
up €465 (+302.9%), from €154 to €619
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 | €33,516 | €25,906 | -€7,609 | -22.7% |
| Fixed assets | 21/28 | €4,946 | €7,163 | +€2,217 | +44.8% |
| Tangible fixed assets | 22/27 | €4,946 | €7,163 | +€2,217 | +44.8% |
| Plant, machinery and equipment | 23 | €1,727 | €538 | -€1,188 | -68.8% |
| Furniture and vehicles | 24 | €3,219 | €6,624 | +€3,406 | +105.8% |
| Current assets | 29/58 | €28,570 | €18,744 | -€9,827 | -34.4% |
| Stocks and contracts in progress | 3 | €6,748 | €1,819 | -€4,929 | -73.0% |
| Stocks | 30/36 | €4,548 | €1,819 | -€2,729 | -60.0% |
| Contracts in progress | 37 | €2,200 | - | -€2,200 | |
| Amounts receivable within one year | 40/41 | €883 | €2,544 | +€1,661 | +188.1% |
| Other amounts receivable | 41 | €883 | €2,544 | +€1,661 | +188.1% |
| Cash at bank and in hand | 54/58 | €20,939 | €14,380 | -€6,559 | -31.3% |
| Total equity and liabilities | 10/49 | €33,516 | €25,906 | -€7,609 | -22.7% |
| Equity | 10/15 | €3,484 | €8,057 | +€4,573 | +131.3% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | - | €4,573 | +€4,573 | |
| Distributable reserves | 133 | - | €4,573 | +€4,573 | |
| Profit (loss) carried forward | 14 | €3,483 | €3,483 | = | 0.0% |
| Amounts payable | 17/49 | €30,032 | €17,850 | -€12,182 | -40.6% |
| Amounts payable after more than one year | 17 | €14,451 | €13,847 | -€603 | -4.2% |
| Other amounts payable | 178/9 | €14,451 | €13,847 | -€603 | -4.2% |
| Amounts payable within one year | 42/48 | €15,582 | €4,003 | -€11,579 | -74.3% |
| Trade debts | 44 | €14,117 | €1,930 | -€12,187 | -86.3% |
| Suppliers | 440/4 | €14,117 | €1,930 | -€12,187 | -86.3% |
| Taxes, remuneration and social security | 45 | €1,464 | €2,072 | +€608 | +41.5% |
| Taxes | 450/3 | €1,464 | €2,072 | +€608 | +41.5% |
| Remuneration, social security and pensions | 62 | €1,371 | €1,182 | -€188 | -13.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,677 | €4,751 | -€926 | -16.3% |
| Other operating charges | 640/8 | €1,255 | €1,167 | -€88 | -7.0% |
| Gross operating margin | 9900 | €20,500 | €14,364 | -€6,136 | -29.9% |
| Operating profit (loss) | 9901 | €12,197 | €7,264 | -€4,933 | -40.4% |
| Financial charges | 65/66B | €154 | €619 | +€465 | +302.9% |
| Recurring financial charges | 65 | €154 | €619 | +€465 | +302.9% |
| Profit (loss) for the period before taxes | 9903 | €12,043 | €6,645 | -€5,398 | -44.8% |
| Income taxes | 67/77 | €1,464 | €2,072 | +€608 | +41.5% |
| Profit (loss) for the period | 9904 | €10,579 | €4,573 | -€6,006 | -56.8% |
| Profit (loss) for the period to be appropriated | 9905 | €10,579 | €4,573 | -€6,006 | -56.8% |
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 11 October 2026 via checked.be.