M.I. 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.I. Projects
Largest movements
- Receivables within one year +€21,167
up €21,167 (+63.4%), from €33,389 to €54,557
of which Other amounts receivable: +€19,193
- Tangible fixed assets -€7,021
down €7,021 (-25.5%), from €27,497 to €20,476
of which Furniture and vehicles: -€6,900
- Cash -€959
down €959 (-79.5%), from €1,207 to €248
mainly Receivables within one year (-€21,167) and Tax, wage and social debts (-€5,817)
- Profit (loss) carried forward +€15,091
up €15,091 (+76.3%), from €19,785 to €34,876
- Tax, wage and social debts -€5,817
down €5,817 (-54.0%), from €10,769 to €4,953
- Current portion of long-term debt +€3,584
up €3,584 (+40.7%), from €8,799 to €12,383
- Debts after one year -€3,441
down €3,441 (-17.7%), from €19,412 to €15,971
- Short-term financial debts +€2,754
new in 2025: €2,754
- Gross operating margin +€4,998
up €4,998 (+22.5%), from €22,207 to €27,205
- Other operating charges -€1,815
down €1,815 (-59.4%), from €3,055 to €1,240
- Taxes +€1,644
up €1,644 (+52.1%), from €3,154 to €4,798
- Financial income +€859
up €859 (+57.6%), from €1,493 to €2,352
- Depreciation +€296
up €296 (+4.4%), from €6,726 to €7,021
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 | €63,879 | €77,807 | +€13,928 | +21.8% |
| Fixed assets | 21/28 | €27,497 | €20,476 | -€7,021 | -25.5% |
| Tangible fixed assets | 22/27 | €27,497 | €20,476 | -€7,021 | -25.5% |
| Plant, machinery and equipment | 23 | €284 | €163 | -€121 | -42.7% |
| Furniture and vehicles | 24 | €27,213 | €20,313 | -€6,900 | -25.4% |
| Current assets | 29/58 | €36,382 | €57,332 | +€20,950 | +57.6% |
| Amounts receivable within one year | 40/41 | €33,389 | €54,557 | +€21,167 | +63.4% |
| Trade receivables | 40 | €0 | €1,974 | +€1,974 | |
| Other amounts receivable | 41 | €33,389 | €52,583 | +€19,193 | +57.5% |
| Cash at bank and in hand | 54/58 | €1,207 | €248 | -€959 | -79.5% |
| Deferred charges and accrued income | 490/1 | €1,786 | €2,528 | +€741 | +41.5% |
| Total equity and liabilities | 10/49 | €63,879 | €77,807 | +€13,928 | +21.8% |
| Equity | 10/15 | €22,785 | €37,876 | +€15,091 | +66.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,785 | €34,876 | +€15,091 | +76.3% |
| Amounts payable | 17/49 | €41,094 | €39,932 | -€1,162 | -2.8% |
| Amounts payable after more than one year | 17 | €19,412 | €15,971 | -€3,441 | -17.7% |
| Financial debts | 170/4 | €19,412 | €15,971 | -€3,441 | -17.7% |
| Amounts payable within one year | 42/48 | €21,682 | €23,961 | +€2,279 | +10.5% |
| Current portion of amounts payable after more than one year | 42 | €8,799 | €12,383 | +€3,584 | +40.7% |
| Financial debts | 43 | - | €2,754 | +€2,754 | |
| Credit institutions | 430/8 | - | €2,754 | +€2,754 | |
| Trade debts | 44 | €2,114 | €3,871 | +€1,757 | +83.1% |
| Suppliers | 440/4 | €2,114 | €3,871 | +€1,757 | +83.1% |
| Taxes, remuneration and social security | 45 | €10,769 | €4,953 | -€5,817 | -54.0% |
| Taxes | 450/3 | €10,769 | €4,953 | -€5,817 | -54.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,726 | €7,021 | +€296 | +4.4% |
| Other operating charges | 640/8 | €3,055 | €1,240 | -€1,815 | -59.4% |
| Gross operating margin | 9900 | €22,207 | €27,205 | +€4,998 | +22.5% |
| Operating profit (loss) | 9901 | €12,427 | €18,943 | +€6,517 | +52.4% |
| Financial income | 75/76B | €1,493 | €2,352 | +€859 | +57.6% |
| Recurring financial income | 75 | €1,493 | €2,352 | +€859 | +57.6% |
| Financial charges | 65/66B | €1,550 | €1,407 | -€143 | -9.2% |
| Recurring financial charges | 65 | €1,550 | €1,407 | -€143 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | €12,370 | €19,889 | +€7,519 | +60.8% |
| Income taxes | 67/77 | €3,154 | €4,798 | +€1,644 | +52.1% |
| Profit (loss) for the period | 9904 | €9,215 | €15,091 | +€5,875 | +63.8% |
| Profit (loss) for the period to be appropriated | 9905 | €9,215 | €15,091 | +€5,875 | +63.8% |
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 11 October 2026 via checked.be.