M&N Projecten: 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 Projecten
Largest movements
- Cash +€4,609
up €4,609 (+65.0%), from €7,096 to €11,705
mainly Depreciation (+€5,337) and Trade debts (+€4,805)
- Tangible fixed assets +€1,995
up €1,995 (+16.8%), from €11,907 to €13,902
of which Plant, machinery and equipment: +€2,217
- Stocks and contracts -€622
down €622 (-29.4%), from €2,115 to €1,493
- Receivables within one year +€496
up €496 (+76.0%), from €653 to €1,149
of which Trade receivables: +€496
- Trade debts +€4,805
up €4,805 (+890%), from €540 to €5,345
- Profit (loss) carried forward +€1,248
up €1,248 (+34.0%), from -€3,670 to -€2,422
- Gross operating margin -€2,582
down €2,582 (-27.2%), from €9,481 to €6,899
- Depreciation +€1,889
up €1,889 (+54.8%), from €3,449 to €5,337
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 | €41,923 | €48,408 | +€6,485 | +15.5% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €11,907 | €13,902 | +€1,995 | +16.8% |
| Tangible fixed assets | 22/27 | €11,907 | €13,902 | +€1,995 | +16.8% |
| Plant, machinery and equipment | 23 | €11,452 | €13,668 | +€2,217 | +19.4% |
| Furniture and vehicles | 24 | €455 | €233 | -€222 | -48.7% |
| Current assets | 29/58 | €30,016 | €34,507 | +€4,490 | +15.0% |
| Stocks and contracts in progress | 3 | €2,115 | €1,493 | -€622 | -29.4% |
| Stocks | 30/36 | €2,115 | €1,493 | -€622 | -29.4% |
| Amounts receivable within one year | 40/41 | €653 | €1,149 | +€496 | +76.0% |
| Trade receivables | 40 | €275 | €771 | +€496 | +180% |
| Other amounts receivable | 41 | €378 | €378 | = | 0.0% |
| Current investments | 50/53 | €20,000 | €20,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €7,096 | €11,705 | +€4,609 | +65.0% |
| Deferred charges and accrued income | 490/1 | €152 | €160 | +€7 | +4.8% |
| Total equity and liabilities | 10/49 | €41,923 | €48,408 | +€6,485 | +15.5% |
| Equity | 10/15 | €1,330 | €2,578 | +€1,248 | +93.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,670 | -€2,422 | +€1,248 | +34.0% |
| Amounts payable | 17/49 | €40,594 | €45,830 | +€5,237 | +12.9% |
| Amounts payable within one year | 42/48 | €40,594 | €45,830 | +€5,237 | +12.9% |
| Trade debts | 44 | €540 | €5,345 | +€4,805 | +890% |
| Suppliers | 440/4 | €540 | €5,345 | +€4,805 | +890% |
| Taxes, remuneration and social security | 45 | €25 | €364 | +€339 | +1,357% |
| Taxes | 450/3 | €25 | €364 | +€339 | +1,357% |
| Other amounts payable | 47/48 | €40,029 | €40,122 | +€93 | +0.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,449 | €5,337 | +€1,889 | +54.8% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €9,481 | €6,899 | -€2,582 | -27.2% |
| Operating profit (loss) | 9901 | €5,527 | €1,042 | -€4,485 | -81.1% |
| Financial income | 75/76B | €389 | €371 | -€18 | -4.6% |
| Recurring financial income | 75 | €389 | €371 | -€18 | -4.6% |
| Financial charges | 65/66B | €152 | €165 | +€13 | +8.6% |
| Recurring financial charges | 65 | €152 | €165 | +€13 | +8.6% |
| Profit (loss) for the period before taxes | 9903 | €5,764 | €1,248 | -€4,516 | -78.3% |
| Profit (loss) for the period | 9904 | €5,764 | €1,248 | -€4,516 | -78.3% |
| Profit (loss) for the period to be appropriated | 9905 | €5,764 | €1,248 | -€4,516 | -78.3% |
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 14 October 2026 via checked.be.