M²SL Engineering & Consultancy: 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.
M²SL Engineering & Consultancy
Largest movements
- Cash +€19,496
up €19,496 (+248.3%), from €7,850 to €27,346
mainly Receivables within one year (+€10,356) and Net result for the year (+€8,836)
- Receivables within one year -€10,356
no longer reported in 2025 (was €10,356)
- Tangible fixed assets -€6,557
down €6,557 (-70.8%), from €9,256 to €2,699
of which Furniture and vehicles: -€6,149
- Reserves +€8,488
up €8,488 (+169.0%), from €5,022 to €13,510
- Current portion of long-term debt -€7,906
no longer reported in 2025 (was €7,906)
- Tax, wage and social debts +€3,952
up €3,952 (+57.5%), from €6,875 to €10,827
- Other debts -€1,940
down €1,940 (-41.7%), from €4,658 to €2,718
- Gross operating margin +€8,526
up €8,526 (+67.5%), from €12,634 to €21,159
- Taxes +€3,561
up €3,561 (+2331.6%), from €153 to €3,714
- Depreciation -€3,034
down €3,034 (-27.2%), from €11,162 to €8,128
- Financial charges -€406
down €406 (-47.7%), from €851 to €445
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 | €32,336 | €35,219 | +€2,883 | +8.9% |
| Formation expenses | 20 | €85 | - | -€85 | |
| Fixed assets | 21/28 | €9,256 | €2,699 | -€6,557 | -70.8% |
| Tangible fixed assets | 22/27 | €9,256 | €2,699 | -€6,557 | -70.8% |
| Plant, machinery and equipment | 23 | €3,107 | €2,699 | -€408 | -13.1% |
| Furniture and vehicles | 24 | €6,149 | - | -€6,149 | |
| Current assets | 29/58 | €22,995 | €32,520 | +€9,525 | +41.4% |
| Stocks and contracts in progress | 3 | €2,850 | €3,125 | +€275 | +9.6% |
| Stocks | 30/36 | €2,850 | €3,125 | +€275 | +9.6% |
| Amounts receivable within one year | 40/41 | €10,356 | - | -€10,356 | |
| Trade receivables | 40 | €10,356 | - | -€10,356 | |
| Cash at bank and in hand | 54/58 | €7,850 | €27,346 | +€19,496 | +248.3% |
| Deferred charges and accrued income | 490/1 | €1,939 | €2,049 | +€110 | +5.7% |
| Total equity and liabilities | 10/49 | €32,336 | €35,219 | +€2,883 | +8.9% |
| Equity | 10/15 | €12,673 | €21,510 | +€8,836 | +69.7% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Reserves | 13 | €5,022 | €13,510 | +€8,488 | +169.0% |
| Distributable reserves | 133 | €5,022 | €13,510 | +€8,488 | +169.0% |
| Profit (loss) carried forward | 14 | -€349 | - | +€349 | |
| Amounts payable | 17/49 | €19,662 | €13,709 | -€5,954 | -30.3% |
| Amounts payable within one year | 42/48 | €19,662 | €13,709 | -€5,954 | -30.3% |
| Current portion of amounts payable after more than one year | 42 | €7,906 | - | -€7,906 | |
| Trade debts | 44 | €223 | €164 | -€59 | -26.5% |
| Suppliers | 440/4 | €223 | €164 | -€59 | -26.5% |
| Taxes, remuneration and social security | 45 | €6,875 | €10,827 | +€3,952 | +57.5% |
| Taxes | 450/3 | €6,875 | €10,827 | +€3,952 | +57.5% |
| Other amounts payable | 47/48 | €4,658 | €2,718 | -€1,940 | -41.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,162 | €8,128 | -€3,034 | -27.2% |
| Other operating charges | 640/8 | €205 | €62 | -€143 | -69.8% |
| Gross operating margin | 9900 | €12,634 | €21,159 | +€8,526 | +67.5% |
| Operating profit (loss) | 9901 | €1,266 | €12,969 | +€11,703 | +924.4% |
| Financial income | 75/76B | €1 | €26 | +€26 | +4980.8% |
| Recurring financial income | 75 | €1 | €26 | +€26 | +4980.8% |
| Financial charges | 65/66B | €851 | €445 | -€406 | -47.7% |
| Recurring financial charges | 65 | €851 | €445 | -€406 | -47.7% |
| Profit (loss) for the period before taxes | 9903 | €416 | €12,551 | +€12,135 | +2920.2% |
| Income taxes | 67/77 | €153 | €3,714 | +€3,561 | +2331.6% |
| Profit (loss) for the period | 9904 | €263 | €8,836 | +€8,574 | +3262.2% |
| Profit (loss) for the period to be appropriated | 9905 | €263 | €8,836 | +€8,574 | +3262.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.