M & W 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 & W CONSTRUCTION
Largest movements
- Cash -€22,191
down €22,191 (-21.8%), from €102,009 to €79,818
mainly Net result for the year (-€36,761) and Debts after one year (-€6,804)
- Tangible fixed assets -€20,290
down €20,290 (-7.8%), from €261,793 to €241,503
- Receivables within one year -€9,997
down €9,997 (-86.2%), from €11,595 to €1,598
of which Trade receivables: -€10,334
- Profit (loss) carried forward -€36,761
down €36,761 (-67.9%), from €54,173 to €17,413
- Debts after one year -€6,804
down €6,804 (-6.0%), from €113,405 to €106,601
- Other debts -€3,931
down €3,931 (-6.2%), from €63,317 to €59,386
- Gross operating margin -€29,943
down €29,943, from €19,233 to -€10,710
- Depreciation -€1,710
down €1,710 (-7.7%), from €22,339 to €20,629
- Financial charges -€337
down €337 (-9.7%), from €3,480 to €3,143
- Other operating charges +€330
up €330 (+16.7%), from €1,977 to €2,307
- Financial income -€221
down €221 (-88.4%), from €249 to €29
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 | €379,360 | €329,434 | -€49,927 | -13.2% |
| Fixed assets | 21/28 | €261,818 | €241,528 | -€20,290 | -7.7% |
| Tangible fixed assets | 22/27 | €261,793 | €241,503 | -€20,290 | -7.8% |
| Land and buildings | 22 | €207,992 | €201,507 | -€6,485 | -3.1% |
| Plant, machinery and equipment | 23 | €26,533 | €20,964 | -€5,569 | -21.0% |
| Furniture and vehicles | 24 | €27,268 | €19,033 | -€8,236 | -30.2% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €117,542 | €87,905 | -€29,637 | -25.2% |
| Stocks and contracts in progress | 3 | €1,698 | €3,826 | +€2,128 | +125% |
| Stocks | 30/36 | €1,698 | €3,826 | +€2,128 | +125% |
| Amounts receivable within one year | 40/41 | €11,595 | €1,598 | -€9,997 | -86.2% |
| Trade receivables | 40 | €11,595 | €1,261 | -€10,334 | -89.1% |
| Other amounts receivable | 41 | - | €337 | +€337 | |
| Cash at bank and in hand | 54/58 | €102,009 | €79,818 | -€22,191 | -21.8% |
| Deferred charges and accrued income | 490/1 | €2,241 | €2,663 | +€423 | +18.9% |
| Total equity and liabilities | 10/49 | €379,360 | €329,434 | -€49,927 | -13.2% |
| Equity | 10/15 | €190,687 | €153,926 | -€36,761 | -19.3% |
| Contributions | 10/11 | €8,200 | €8,200 | = | 0.0% |
| Reserves | 13 | €128,314 | €128,314 | = | 0.0% |
| Distributable reserves | 133 | €128,314 | €128,314 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,173 | €17,413 | -€36,761 | -67.9% |
| Amounts payable | 17/49 | €188,674 | €175,507 | -€13,166 | -7.0% |
| Amounts payable after more than one year | 17 | €113,405 | €106,601 | -€6,804 | -6.0% |
| Financial debts | 170/4 | €113,405 | €106,601 | -€6,804 | -6.0% |
| Amounts payable within one year | 42/48 | €75,261 | €68,906 | -€6,354 | -8.4% |
| Current portion of amounts payable after more than one year | 42 | €6,642 | €6,804 | +€161 | +2.4% |
| Trade debts | 44 | €3,046 | €2,717 | -€328 | -10.8% |
| Suppliers | 440/4 | €3,046 | €2,717 | -€328 | -10.8% |
| Taxes, remuneration and social security | 45 | €2,256 | - | -€2,256 | |
| Taxes | 450/3 | €146 | - | -€146 | |
| Remuneration and social security | 454/9 | €2,110 | - | -€2,110 | |
| Other amounts payable | 47/48 | €63,317 | €59,386 | -€3,931 | -6.2% |
| Accrued charges and deferred income | 492/3 | €8 | - | -€8 | |
| Non-recurring operating income | 76A | - | €340 | +€340 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,339 | €20,629 | -€1,710 | -7.7% |
| Other operating charges | 640/8 | €1,977 | €2,307 | +€330 | +16.7% |
| Gross operating margin | 9900 | €19,233 | -€10,710 | -€29,943 | |
| Operating profit (loss) | 9901 | -€5,083 | -€33,647 | -€28,563 | -562% |
| Financial income | 75/76B | €249 | €29 | -€221 | -88.4% |
| Recurring financial income | 75 | €249 | €29 | -€221 | -88.4% |
| Financial charges | 65/66B | €3,480 | €3,143 | -€337 | -9.7% |
| Recurring financial charges | 65 | €3,480 | €3,143 | -€337 | -9.7% |
| Profit (loss) for the period before taxes | 9903 | -€8,314 | -€36,761 | -€28,447 | -342% |
| Profit (loss) for the period | 9904 | -€8,314 | -€36,761 | -€28,447 | -342% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,314 | -€36,761 | -€28,447 | -342% |
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 18 October 2026 via checked.be.