M.N.M. 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.N.M. Construct
Largest movements
- Receivables within one year +€85,001
up €85,001 (+224%), from €38,020 to €123,021
of which Other amounts receivable: +€97,337
- Cash -€9,952
down €9,952 (-11.7%), from €84,843 to €74,892
mainly Receivables within one year (-€85,001) and Investment in fixed assets (net) (-€52,883)
- Tangible fixed assets +€4,326
up €4,326 (+4.3%), from €100,174 to €104,500
of which Plant, machinery and equipment: +€10,268
- Accrued charges and deferred income +€71,871
up €71,871 (+1,740,219%), from €4 to €71,875
- Profit (loss) carried forward +€43,153
up €43,153 (+41.4%), from €104,208 to €147,361
- Other debts -€38,970
no longer reported in 2025 (was €38,970)
- Advances received +€30,976
new in 2025: €30,976
- Trade debts -€19,769
down €19,769 (-56.3%), from €35,132 to €15,362
- Gross operating margin -€12,048
down €12,048 (-10.9%), from €110,929 to €98,881
- Taxes +€6,375
up €6,375, from -€775 to €5,600
- Financial income +€3,499
up €3,499 (+1,676%), from €209 to €3,708
- Depreciation +€1,179
up €1,179 (+2.5%), from €47,378 to €48,556
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 | €226,819 | €303,814 | +€76,995 | +33.9% |
| Fixed assets | 21/28 | €100,174 | €104,500 | +€4,326 | +4.3% |
| Tangible fixed assets | 22/27 | €100,174 | €104,500 | +€4,326 | +4.3% |
| Plant, machinery and equipment | 23 | €8,022 | €18,291 | +€10,268 | +128% |
| Furniture and vehicles | 24 | €92,152 | €86,210 | -€5,942 | -6.4% |
| Current assets | 29/58 | €126,645 | €199,313 | +€72,668 | +57.4% |
| Amounts receivable within one year | 40/41 | €38,020 | €123,021 | +€85,001 | +224% |
| Trade receivables | 40 | €19,753 | €7,417 | -€12,335 | -62.5% |
| Other amounts receivable | 41 | €18,267 | €115,604 | +€97,337 | +533% |
| Cash at bank and in hand | 54/58 | €84,843 | €74,892 | -€9,952 | -11.7% |
| Deferred charges and accrued income | 490/1 | €3,782 | €1,400 | -€2,381 | -63.0% |
| Total equity and liabilities | 10/49 | €226,819 | €303,814 | +€76,995 | +33.9% |
| Equity | 10/15 | €124,668 | €167,821 | +€43,153 | +34.6% |
| 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 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €104,208 | €147,361 | +€43,153 | +41.4% |
| Amounts payable | 17/49 | €102,151 | €135,993 | +€33,842 | +33.1% |
| Amounts payable after more than one year | 17 | €11,776 | - | -€11,776 | |
| Financial debts | 170/4 | €11,776 | - | -€11,776 | |
| Amounts payable within one year | 42/48 | €90,371 | €64,118 | -€26,253 | -29.1% |
| Current portion of amounts payable after more than one year | 42 | €15,494 | €11,761 | -€3,733 | -24.1% |
| Trade debts | 44 | €35,132 | €15,362 | -€19,769 | -56.3% |
| Suppliers | 440/4 | €35,132 | €15,362 | -€19,769 | -56.3% |
| Advances received on contracts in progress | 46 | - | €30,976 | +€30,976 | |
| Taxes, remuneration and social security | 45 | €775 | €6,019 | +€5,244 | +677% |
| Taxes | 450/3 | €775 | €5,925 | +€5,150 | +665% |
| Remuneration and social security | 454/9 | - | €94 | +€94 | |
| Other amounts payable | 47/48 | €38,970 | - | -€38,970 | |
| Accrued charges and deferred income | 492/3 | €4 | €71,875 | +€71,871 | +1,740,219% |
| Non-recurring operating income | 76A | - | €2,500 | +€2,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,378 | €48,556 | +€1,179 | +2.5% |
| Other operating charges | 640/8 | €3,104 | €2,125 | -€979 | -31.5% |
| Non-recurring operating charges | 66A | €4,800 | €2,448 | -€2,352 | -49.0% |
| Gross operating margin | 9900 | €110,929 | €98,881 | -€12,048 | -10.9% |
| Operating profit (loss) | 9901 | €55,649 | €45,752 | -€9,897 | -17.8% |
| Financial income | 75/76B | €209 | €3,708 | +€3,499 | +1,676% |
| Recurring financial income | 75 | €209 | €3,708 | +€3,499 | +1,676% |
| Financial charges | 65/66B | €558 | €707 | +€150 | +26.9% |
| Recurring financial charges | 65 | €558 | €707 | +€150 | +26.9% |
| Profit (loss) for the period before taxes | 9903 | €55,300 | €48,753 | -€6,547 | -11.8% |
| Income taxes | 67/77 | -€775 | €5,600 | +€6,375 | |
| Profit (loss) for the period | 9904 | €56,075 | €43,153 | -€12,922 | -23.0% |
| Profit (loss) for the period to be appropriated | 9905 | €56,075 | €43,153 | -€12,922 | -23.0% |
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 13 October 2026 via checked.be.