M.I. CONSTRUCT: 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.I. CONSTRUCT
Largest movements
- Cash -€129,339
down €129,339 (-83.9%), from €154,200 to €24,860
mainly Other debts (-€64,789) and Trade debts (-€49,544)
- Receivables within one year -€68,578
down €68,578 (-76.0%), from €90,289 to €21,711
of which Trade receivables: -€72,144
- Stocks and contracts +€43,738
new in 2025: €43,738
of which Contracts in progress: +€29,641
- Other debts -€64,789
down €64,789 (-99.8%), from €64,900 to €112
- Trade debts -€49,544
down €49,544 (-82.8%), from €59,817 to €10,274
- Tax, wage and social debts -€31,170
down €31,170 (-87.0%), from €35,829 to €4,659
of which Taxes: -€33,689
- Profit (loss) carried forward -€7,364
down €7,364 (-9.2%), from €79,814 to €72,451
- Gross operating margin -€59,929
down €59,929 (-89.8%), from €66,722 to €6,793
- Taxes -€15,377
down €15,377 (-98.0%), from €15,684 to €307
- Depreciation -€2,016
down €2,016 (-14.1%), from €14,338 to €12,323
- Other operating charges -€1,098
down €1,098 (-44.8%), from €2,450 to €1,352
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 | €260,821 | €107,955 | -€152,866 | -58.6% |
| Fixed assets | 21/28 | €13,484 | €14,891 | +€1,408 | +10.4% |
| Tangible fixed assets | 22/27 | €13,434 | €14,841 | +€1,408 | +10.5% |
| Plant, machinery and equipment | 23 | €2,524 | €395 | -€2,129 | -84.3% |
| Furniture and vehicles | 24 | €10,910 | €14,446 | +€3,537 | +32.4% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €247,337 | €93,063 | -€154,274 | -62.4% |
| Stocks and contracts in progress | 3 | - | €43,738 | +€43,738 | |
| Stocks | 30/36 | - | €14,097 | +€14,097 | |
| Contracts in progress | 37 | - | €29,641 | +€29,641 | |
| Amounts receivable within one year | 40/41 | €90,289 | €21,711 | -€68,578 | -76.0% |
| Trade receivables | 40 | €90,289 | €18,145 | -€72,144 | -79.9% |
| Other amounts receivable | 41 | - | €3,566 | +€3,566 | |
| Cash at bank and in hand | 54/58 | €154,200 | €24,860 | -€129,339 | -83.9% |
| Deferred charges and accrued income | 490/1 | €2,849 | €2,754 | -€94 | -3.3% |
| Total equity and liabilities | 10/49 | €260,821 | €107,955 | -€152,866 | -58.6% |
| Equity | 10/15 | €100,274 | €92,911 | -€7,364 | -7.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | €79,814 | €72,451 | -€7,364 | -9.2% |
| Amounts payable | 17/49 | €160,547 | €15,044 | -€145,503 | -90.6% |
| Amounts payable within one year | 42/48 | €160,547 | €15,044 | -€145,503 | -90.6% |
| Trade debts | 44 | €59,817 | €10,274 | -€49,544 | -82.8% |
| Suppliers | 440/4 | €59,817 | €10,274 | -€49,544 | -82.8% |
| Taxes, remuneration and social security | 45 | €35,829 | €4,659 | -€31,170 | -87.0% |
| Taxes | 450/3 | €33,995 | €307 | -€33,689 | -99.1% |
| Remuneration and social security | 454/9 | €1,833 | €4,352 | +€2,519 | +137% |
| Other amounts payable | 47/48 | €64,900 | €112 | -€64,789 | -99.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,338 | €12,323 | -€2,016 | -14.1% |
| Other operating charges | 640/8 | €2,450 | €1,352 | -€1,098 | -44.8% |
| Gross operating margin | 9900 | €66,722 | €6,793 | -€59,929 | -89.8% |
| Operating profit (loss) | 9901 | €49,933 | -€6,882 | -€56,815 | |
| Financial income | 75/76B | €75 | €37 | -€38 | -50.5% |
| Recurring financial income | 75 | €75 | €37 | -€38 | -50.5% |
| Financial charges | 65/66B | €442 | €212 | -€230 | -52.1% |
| Recurring financial charges | 65 | €442 | €212 | -€230 | -52.1% |
| Profit (loss) for the period before taxes | 9903 | €49,566 | -€7,057 | -€56,623 | |
| Income taxes | 67/77 | €15,684 | €307 | -€15,377 | -98.0% |
| Profit (loss) for the period | 9904 | €33,882 | -€7,364 | -€41,246 | |
| Profit (loss) for the period to be appropriated | 9905 | €33,882 | -€7,364 | -€41,246 |
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 19 October 2026 via checked.be.