M & L 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 & L CONSTRUCT
Largest movements
- Tangible fixed assets +€54,844
up €54,844 (+52.5%), from €104,426 to €159,270
of which Furniture and vehicles: +€58,085
- Cash +€29,468
up €29,468 (+1022.0%), from €2,883 to €32,351
mainly Other debts (+€58,992) and Debts after one year (+€36,124)
- Receivables within one year +€21,238
up €21,238 (+18.1%), from €117,082 to €138,320
of which Other amounts receivable: +€31,058
- Stocks and contracts +€6,366
up €6,366 (+5.0%), from €128,135 to €134,500
of which Contracts in progress: +€5,570
- Other debts +€58,992
up €58,992 (+37.6%), from €156,728 to €215,720
- Debts after one year +€36,124
new in 2025: €36,124
- Reserves +€10,535
up €10,535 (+11.8%), from €89,406 to €99,941
of which Distributable reserves: +€10,535
- Trade debts +€8,552
up €8,552 (+45.5%), from €18,786 to €27,338
- Tax, wage and social debts -€7,778
down €7,778 (-69.7%), from €11,165 to €3,386
of which Taxes: -€7,928
- Gross operating margin -€87,224
down €87,224 (-53.1%), from €164,296 to €77,071
- Taxes -€24,589
down €24,589 (-90.7%), from €27,107 to €2,519
- Financial charges -€3,585
down €3,585 (-33.3%), from €10,768 to €7,183
- Staff costs -€2,316
down €2,316 (-4.5%), from €51,857 to €49,541
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 | €358,910 | €472,280 | +€113,370 | +31.6% |
| Fixed assets | 21/28 | €104,551 | €159,395 | +€54,844 | +52.5% |
| Tangible fixed assets | 22/27 | €104,426 | €159,270 | +€54,844 | +52.5% |
| Land and buildings | 22 | €98,411 | €95,282 | -€3,129 | -3.2% |
| Plant, machinery and equipment | 23 | €401 | €289 | -€112 | -28.0% |
| Furniture and vehicles | 24 | €5,614 | €63,699 | +€58,085 | +1034.7% |
| Financial fixed assets | 28 | €125 | €125 | = | 0.0% |
| Current assets | 29/58 | €254,359 | €312,885 | +€58,526 | +23.0% |
| Stocks and contracts in progress | 3 | €128,135 | €134,500 | +€6,366 | +5.0% |
| Stocks | 30/36 | €93,334 | €94,129 | +€795 | +0.9% |
| Contracts in progress | 37 | €34,800 | €40,371 | +€5,570 | +16.0% |
| Amounts receivable within one year | 40/41 | €117,082 | €138,320 | +€21,238 | +18.1% |
| Trade receivables | 40 | €26,448 | €16,628 | -€9,820 | -37.1% |
| Other amounts receivable | 41 | €90,635 | €121,692 | +€31,058 | +34.3% |
| Cash at bank and in hand | 54/58 | €2,883 | €32,351 | +€29,468 | +1022.0% |
| Deferred charges and accrued income | 490/1 | €6,259 | €7,713 | +€1,455 | +23.2% |
| Total equity and liabilities | 10/49 | €358,910 | €472,280 | +€113,370 | +31.6% |
| Equity | 10/15 | €150,906 | €161,441 | +€10,535 | +7.0% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €89,406 | €99,941 | +€10,535 | +11.8% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €83,256 | €93,791 | +€10,535 | +12.7% |
| Amounts payable | 17/49 | €208,004 | €310,839 | +€102,835 | +49.4% |
| Amounts payable after more than one year | 17 | - | €36,124 | +€36,124 | |
| Financial debts | 170/4 | - | €36,124 | +€36,124 | |
| Amounts payable within one year | 42/48 | €207,184 | €273,310 | +€66,126 | +31.9% |
| Current portion of amounts payable after more than one year | 42 | - | €6,866 | +€6,866 | |
| Financial debts | 43 | €20,505 | €20,000 | -€505 | -2.5% |
| Credit institutions | 430/8 | €20,505 | €20,000 | -€505 | -2.5% |
| Trade debts | 44 | €18,786 | €27,338 | +€8,552 | +45.5% |
| Suppliers | 440/4 | €18,786 | €27,338 | +€8,552 | +45.5% |
| Taxes, remuneration and social security | 45 | €11,165 | €3,386 | -€7,778 | -69.7% |
| Taxes | 450/3 | €11,165 | €3,236 | -€7,928 | -71.0% |
| Remuneration and social security | 454/9 | - | €150 | +€150 | |
| Other amounts payable | 47/48 | €156,728 | €215,720 | +€58,992 | +37.6% |
| Accrued charges and deferred income | 492/3 | €820 | €1,405 | +€585 | +71.3% |
| Remuneration, social security and pensions | 62 | €51,857 | €49,541 | -€2,316 | -4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,417 | €5,513 | +€96 | +1.8% |
| Other operating charges | 640/8 | €1,317 | €1,781 | +€464 | +35.2% |
| Non-recurring operating charges | 66A | €12,906 | - | -€12,906 | |
| Gross operating margin | 9900 | €164,296 | €77,071 | -€87,224 | -53.1% |
| Operating profit (loss) | 9901 | €92,799 | €20,236 | -€72,563 | -78.2% |
| Financial charges | 65/66B | €10,768 | €7,183 | -€3,585 | -33.3% |
| Recurring financial charges | 65 | €10,768 | €7,183 | -€3,585 | -33.3% |
| Profit (loss) for the period before taxes | 9903 | €82,031 | €13,053 | -€68,978 | -84.1% |
| Income taxes | 67/77 | €27,107 | €2,519 | -€24,589 | -90.7% |
| Profit (loss) for the period | 9904 | €54,924 | €10,535 | -€44,389 | -80.8% |
| Profit (loss) for the period to be appropriated | 9905 | €54,924 | €10,535 | -€44,389 | -80.8% |
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 7 October 2026 via checked.be.