M.J.W. Construct: 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.J.W. Construct
Largest movements
- Cash -€5,205
down €5,205 (-56.9%), from €9,155 to €3,950
mainly Provisions (-€4,735) and Investment in fixed assets (net) (-€4,656)
- Tangible fixed assets +€1,745
up €1,745 (+93.7%), from €1,862 to €3,607
of which Furniture and vehicles: +€2,840
- Provisions -€4,735
no longer reported in 2025 (was €4,735)
- Trade debts +€4,236
up €4,236 (+155.5%), from €2,725 to €6,961
- Tax, wage and social debts -€3,557
down €3,557 (-72.1%), from €4,931 to €1,374
of which Taxes: -€4,931
- Profit (loss) carried forward +€446
up €446 (+2.9%), from -€15,146 to -€14,700
- Staff costs +€13,103
new in 2025: €13,103
- Gross operating margin +€11,192
up €11,192 (+281.9%), from €3,970 to €15,162
- Provisions -€9,470
down €9,470, from €4,735 to -€4,735
- Write-downs -€2,447
no longer reported in 2025 (was €2,447)
- Financial charges +€1,944
up €1,944 (+787.7%), from €247 to €2,191
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 | €17,245 | €13,652 | -€3,592 | -20.8% |
| Fixed assets | 21/28 | €1,862 | €3,607 | +€1,745 | +93.7% |
| Tangible fixed assets | 22/27 | €1,862 | €3,607 | +€1,745 | +93.7% |
| Plant, machinery and equipment | 23 | €1,598 | €503 | -€1,095 | -68.5% |
| Furniture and vehicles | 24 | €264 | €3,104 | +€2,840 | +1074.2% |
| Current assets | 29/58 | €15,383 | €10,045 | -€5,337 | -34.7% |
| Amounts receivable within one year | 40/41 | €6,228 | €6,096 | -€132 | -2.1% |
| Trade receivables | 40 | €1,657 | - | -€1,657 | |
| Other amounts receivable | 41 | €4,571 | €6,096 | +€1,525 | +33.4% |
| Cash at bank and in hand | 54/58 | €9,155 | €3,950 | -€5,205 | -56.9% |
| Total equity and liabilities | 10/49 | €17,245 | €13,652 | -€3,592 | -20.8% |
| Equity | 10/15 | €4,854 | €5,300 | +€446 | +9.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,146 | -€14,700 | +€446 | +2.9% |
| Provisions and deferred taxes | 16 | €4,735 | - | -€4,735 | |
| Provisions for liabilities and charges | 160/5 | €4,735 | - | -€4,735 | |
| Other liabilities and charges | 164/5 | €4,735 | - | -€4,735 | |
| Amounts payable | 17/49 | €7,656 | €8,352 | +€696 | +9.1% |
| Amounts payable within one year | 42/48 | €7,656 | €8,335 | +€679 | +8.9% |
| Trade debts | 44 | €2,725 | €6,961 | +€4,236 | +155.5% |
| Suppliers | 440/4 | €2,725 | €6,961 | +€4,236 | +155.5% |
| Taxes, remuneration and social security | 45 | €4,931 | €1,374 | -€3,557 | -72.1% |
| Taxes | 450/3 | €4,931 | - | -€4,931 | |
| Remuneration and social security | 454/9 | - | €1,374 | +€1,374 | |
| Accrued charges and deferred income | 492/3 | - | €17 | +€17 | |
| Remuneration, social security and pensions | 62 | - | €13,103 | +€13,103 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,690 | €2,911 | +€1,222 | +72.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,447 | - | -€2,447 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €4,735 | -€4,735 | -€9,470 | |
| Other operating charges | 640/8 | €536 | €548 | +€12 | +2.3% |
| Gross operating margin | 9900 | €3,970 | €15,162 | +€11,192 | +281.9% |
| Operating profit (loss) | 9901 | -€5,437 | €3,335 | +€8,772 | |
| Financial income | 75/76B | €1 | €0 | -€1 | -98.9% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -98.9% |
| Financial charges | 65/66B | €247 | €2,191 | +€1,944 | +787.7% |
| Recurring financial charges | 65 | €247 | €2,191 | +€1,944 | +787.7% |
| Profit (loss) for the period before taxes | 9903 | -€5,683 | €1,144 | +€6,827 | |
| Income taxes | 67/77 | €49 | €697 | +€648 | +1320.1% |
| Profit (loss) for the period | 9904 | -€5,732 | €446 | +€6,179 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,732 | €446 | +€6,179 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.