M & L PROJECTS: 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 PROJECTS
Largest movements
- Receivables within one year +€727
up €727 (+6.2%), from €11,735 to €12,462
- Cash -€208
down €208 (-76.9%), from €271 to €63
mainly Receivables within one year (-€727) and Trade debts (-€461)
- Accrued charges and deferred income +€700
up €700 (+46.7%), from €1,500 to €2,200
- Short-term financial debts +€531
up €531 (+125.9%), from €422 to €954
- Trade debts -€461
down €461 (-57.2%), from €805 to €344
- Profit (loss) carried forward -€211
down €211 (-2.3%), from -€9,063 to -€9,274
- Gross operating margin +€1,372
up €1,372, from -€1,064 to €308
- Financial charges -€162
down €162 (-71.6%), from €226 to €64
- Financial income +€44
up €44 (+12.7%), from €345 to €388
- Other operating charges +€34
up €34 (+4.2%), from €810 to €844
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 | €12,265 | €12,824 | +€559 | +4.6% |
| Current assets | 29/58 | €12,265 | €12,824 | +€559 | +4.6% |
| Amounts receivable within one year | 40/41 | €11,735 | €12,462 | +€727 | +6.2% |
| Other amounts receivable | 41 | €11,735 | €12,462 | +€727 | +6.2% |
| Cash at bank and in hand | 54/58 | €271 | €63 | -€208 | -76.9% |
| Deferred charges and accrued income | 490/1 | €258 | €299 | +€41 | +15.9% |
| Total equity and liabilities | 10/49 | €12,265 | €12,824 | +€559 | +4.6% |
| Equity | 10/15 | €9,537 | €9,326 | -€211 | -2.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,063 | -€9,274 | -€211 | -2.3% |
| Amounts payable | 17/49 | €2,727 | €3,498 | +€771 | +28.3% |
| Amounts payable within one year | 42/48 | €1,227 | €1,298 | +€71 | +5.8% |
| Financial debts | 43 | €422 | €954 | +€531 | +125.9% |
| Other loans | 439 | €422 | €954 | +€531 | +125.9% |
| Trade debts | 44 | €805 | €344 | -€461 | -57.2% |
| Suppliers | 440/4 | €805 | €344 | -€461 | -57.2% |
| Accrued charges and deferred income | 492/3 | €1,500 | €2,200 | +€700 | +46.7% |
| Other operating charges | 640/8 | €810 | €844 | +€34 | +4.2% |
| Gross operating margin | 9900 | -€1,064 | €308 | +€1,372 | |
| Operating profit (loss) | 9901 | -€1,873 | -€536 | +€1,338 | +71.4% |
| Financial income | 75/76B | €345 | €388 | +€44 | +12.7% |
| Recurring financial income | 75 | €345 | €388 | +€44 | +12.7% |
| Financial charges | 65/66B | €226 | €64 | -€162 | -71.6% |
| Recurring financial charges | 65 | €226 | €64 | -€162 | -71.6% |
| Profit (loss) for the period before taxes | 9903 | -€1,754 | -€211 | +€1,543 | +87.9% |
| Profit (loss) for the period | 9904 | -€1,754 | -€211 | +€1,543 | +87.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,754 | -€211 | +€1,543 | +87.9% |
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.