M Engineering: 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 Engineering
Largest movements
- Cash +€32,306
up €32,306 (+45.7%), from €70,753 to €103,059
mainly Net result for the year (+€41,562) and Receivables within one year (+€10,398)
- Receivables within one year -€10,398
down €10,398 (-9.0%), from €115,670 to €105,272
of which Other amounts receivable: -€11,228
- Tangible fixed assets -€8,142
down €8,142 (-3.6%), from €227,723 to €219,581
of which Land and buildings: -€7,977
- Reserves +€19,000
up €19,000 (+10.2%), from €186,660 to €205,660
of which Distributable reserves: +€19,000
- Debts after one year -€9,962
down €9,962 (-7.4%), from €134,698 to €124,736
- Gross operating margin -€7,404
down €7,404 (-9.0%), from €82,169 to €74,765
- Taxes -€2,277
down €2,277 (-9.6%), from €23,799 to €21,522
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 | €429,463 | €444,325 | +€14,862 | +3.5% |
| Fixed assets | 21/28 | €227,723 | €219,581 | -€8,142 | -3.6% |
| Tangible fixed assets | 22/27 | €227,723 | €219,581 | -€8,142 | -3.6% |
| Land and buildings | 22 | €210,531 | €202,554 | -€7,977 | -3.8% |
| Furniture and vehicles | 24 | €17,192 | €17,027 | -€165 | -1.0% |
| Current assets | 29/58 | €201,740 | €224,744 | +€23,004 | +11.4% |
| Amounts receivable within one year | 40/41 | €115,670 | €105,272 | -€10,398 | -9.0% |
| Trade receivables | 40 | €28,855 | €29,685 | +€830 | +2.9% |
| Other amounts receivable | 41 | €86,815 | €75,587 | -€11,228 | -12.9% |
| Current investments | 50/53 | €10,000 | €10,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €70,753 | €103,059 | +€32,306 | +45.7% |
| Deferred charges and accrued income | 490/1 | €5,317 | €6,413 | +€1,096 | +20.6% |
| Total equity and liabilities | 10/49 | €429,463 | €444,325 | +€14,862 | +3.5% |
| Equity | 10/15 | €267,580 | €288,142 | +€20,562 | +7.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Capital | 10 | €12,400 | €12,400 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €186,660 | €205,660 | +€19,000 | +10.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €184,800 | €203,800 | +€19,000 | +10.3% |
| Profit (loss) carried forward | 14 | €68,520 | €70,082 | +€1,562 | +2.3% |
| Amounts payable | 17/49 | €161,883 | €156,183 | -€5,700 | -3.5% |
| Amounts payable after more than one year | 17 | €134,698 | €124,736 | -€9,962 | -7.4% |
| Financial debts | 170/4 | €134,698 | €124,736 | -€9,962 | -7.4% |
| Amounts payable within one year | 42/48 | €27,185 | €31,447 | +€4,262 | +15.7% |
| Current portion of amounts payable after more than one year | 42 | €9,899 | €10,792 | +€893 | +9.0% |
| Trade debts | 44 | €6,112 | €6,553 | +€441 | +7.2% |
| Suppliers | 440/4 | €6,112 | €6,553 | +€441 | +7.2% |
| Taxes, remuneration and social security | 45 | €11,174 | €14,102 | +€2,928 | +26.2% |
| Taxes | 450/3 | €11,174 | €10,973 | -€201 | -1.8% |
| Remuneration and social security | 454/9 | - | €3,129 | +€3,129 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,205 | €9,323 | +€118 | +1.3% |
| Other operating charges | 640/8 | €938 | €1,687 | +€749 | +79.9% |
| Gross operating margin | 9900 | €82,169 | €74,765 | -€7,404 | -9.0% |
| Operating profit (loss) | 9901 | €72,026 | €63,755 | -€8,271 | -11.5% |
| Financial income | 75/76B | €2,136 | €1,487 | -€649 | -30.4% |
| Recurring financial income | 75 | €2,136 | €1,487 | -€649 | -30.4% |
| Financial charges | 65/66B | €2,517 | €2,158 | -€359 | -14.3% |
| Recurring financial charges | 65 | €2,517 | €2,158 | -€359 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | €71,645 | €63,084 | -€8,561 | -11.9% |
| Income taxes | 67/77 | €23,799 | €21,522 | -€2,277 | -9.6% |
| Profit (loss) for the period | 9904 | €47,846 | €41,562 | -€6,284 | -13.1% |
| Profit (loss) for the period to be appropriated | 9905 | €47,846 | €41,562 | -€6,284 | -13.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.