M&S BUILDING & CONSTRUCTION: 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&S BUILDING & CONSTRUCTION
Largest movements
- Cash +€27,735
up €27,735 (+2,136%), from €1,299 to €29,034
mainly Net result for the year (+€36,341) and Tax, wage and social debts (+€7,083)
- Receivables within one year +€16,414
up €16,414 (+77.4%), from €21,210 to €37,623
of which Other amounts receivable: +€12,349
- Tangible fixed assets -€2,000
down €2,000 (-74.1%), from €2,699 to €699
- Deferred charges and accrued income +€1,383
new in 2025: €1,383
- Profit (loss) carried forward +€31,341
up €31,341, from -€26,541 to €4,800
- Tax, wage and social debts +€7,083
new in 2025: €7,083
- Trade debts +€6,292
up €6,292 (+19.4%), from €32,513 to €38,804
- Other debts +€5,000
new in 2025: €5,000
- Current portion of long-term debt -€3,694
no longer reported in 2025 (was €3,694)
- Gross operating margin +€16,983
up €16,983 (+52.3%), from €32,461 to €49,443
- Taxes +€7,083
new in 2025: €7,083
- Financial charges -€4,459
down €4,459 (-60.0%), from €7,432 to €2,973
- Depreciation -€1,844
down €1,844 (-48.0%), from €3,845 to €2,000
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 | €25,708 | €69,240 | +€43,532 | +169% |
| Fixed assets | 21/28 | €3,199 | €1,199 | -€2,000 | -62.5% |
| Tangible fixed assets | 22/27 | €2,699 | €699 | -€2,000 | -74.1% |
| Furniture and vehicles | 24 | €2,699 | €699 | -€2,000 | -74.1% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €22,508 | €68,041 | +€45,532 | +202% |
| Amounts receivable within one year | 40/41 | €21,210 | €37,623 | +€16,414 | +77.4% |
| Trade receivables | 40 | €5,883 | €9,948 | +€4,065 | +69.1% |
| Other amounts receivable | 41 | €15,326 | €27,675 | +€12,349 | +80.6% |
| Cash at bank and in hand | 54/58 | €1,299 | €29,034 | +€27,735 | +2,136% |
| Deferred charges and accrued income | 490/1 | - | €1,383 | +€1,383 | |
| Total equity and liabilities | 10/49 | €25,708 | €69,240 | +€43,532 | +169% |
| Equity | 10/15 | -€18,481 | €12,860 | +€31,341 | |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Capital | 10 | €8,060 | €8,060 | = | 0.0% |
| Issued capital | 100 | €8,060 | €8,060 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,541 | €4,800 | +€31,341 | |
| Amounts payable | 17/49 | €44,188 | €56,379 | +€12,191 | +27.6% |
| Amounts payable within one year | 42/48 | €41,108 | €52,124 | +€11,016 | +26.8% |
| Current portion of amounts payable after more than one year | 42 | €3,694 | - | -€3,694 | |
| Financial debts | 43 | €4,902 | €1,237 | -€3,665 | -74.8% |
| Credit institutions | 430/8 | €4,902 | €1,237 | -€3,665 | -74.8% |
| Trade debts | 44 | €32,513 | €38,804 | +€6,292 | +19.4% |
| Suppliers | 440/4 | €32,513 | €38,804 | +€6,292 | +19.4% |
| Taxes, remuneration and social security | 45 | - | €7,083 | +€7,083 | |
| Taxes | 450/3 | - | €7,083 | +€7,083 | |
| Other amounts payable | 47/48 | - | €5,000 | +€5,000 | |
| Accrued charges and deferred income | 492/3 | €3,080 | €4,255 | +€1,175 | +38.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,845 | €2,000 | -€1,844 | -48.0% |
| Other operating charges | 640/8 | €1,031 | €1,046 | +€15 | +1.5% |
| Gross operating margin | 9900 | €32,461 | €49,443 | +€16,983 | +52.3% |
| Operating profit (loss) | 9901 | €27,585 | €46,397 | +€18,812 | +68.2% |
| Financial charges | 65/66B | €7,432 | €2,973 | -€4,459 | -60.0% |
| Recurring financial charges | 65 | €7,432 | €2,973 | -€4,459 | -60.0% |
| Profit (loss) for the period before taxes | 9903 | €20,153 | €43,424 | +€23,271 | +115% |
| Income taxes | 67/77 | - | €7,083 | +€7,083 | |
| Profit (loss) for the period | 9904 | €20,153 | €36,341 | +€16,188 | +80.3% |
| Profit (loss) for the period to be appropriated | 9905 | €20,153 | €36,341 | +€16,188 | +80.3% |
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 26 October 2026 via checked.be.