M-Worx: 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-Worx
Largest movements
- Receivables within one year +€46,904
up €46,904 (+266%), from €17,605 to €64,509
of which Trade receivables: +€54,027
- Stocks and contracts +€36,861
up €36,861 (+63.7%), from €57,911 to €94,772
- Tangible fixed assets -€10,032
down €10,032 (-28.5%), from €35,242 to €25,210
of which Furniture and vehicles: -€9,972
- Deferred charges and accrued income -€7,002
down €7,002 (-96.1%), from €7,288 to €286
- Cash -€6,565
down €6,565 (-18.5%), from €35,517 to €28,952
mainly Receivables within one year (-€46,904) and Stocks and contracts (-€36,861)
- Profit (loss) carried forward +€37,512
up €37,512 (+94.1%), from €39,871 to €77,383
- Trade debts +€9,675
up €9,675 (+14.5%), from €66,630 to €76,305
- Accrued charges and deferred income +€7,575
up €7,575 (+34.1%), from €22,231 to €29,806
- Other debts +€5,790
up €5,790 (+1,080%), from €536 to €6,326
- Advances received -€4,717
no longer reported in 2025 (was €4,717)
- Gross operating margin +€8,520
up €8,520 (+11.9%), from €71,531 to €80,051
- Depreciation +€7,932
up €7,932 (+235%), from €3,374 to €11,306
- Other operating charges +€3,335
up €3,335 (+23.6%), from €14,147 to €17,482
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 | €153,563 | €213,730 | +€60,166 | +39.2% |
| Fixed assets | 21/28 | €35,242 | €25,210 | -€10,032 | -28.5% |
| Tangible fixed assets | 22/27 | €35,242 | €25,210 | -€10,032 | -28.5% |
| Plant, machinery and equipment | 23 | €904 | €1,673 | +€769 | +85.1% |
| Furniture and vehicles | 24 | €31,229 | €21,257 | -€9,972 | -31.9% |
| Other tangible fixed assets | 26 | €3,109 | €2,281 | -€829 | -26.7% |
| Current assets | 29/58 | €118,321 | €188,520 | +€70,198 | +59.3% |
| Stocks and contracts in progress | 3 | €57,911 | €94,772 | +€36,861 | +63.7% |
| Stocks | 30/36 | €57,911 | €94,772 | +€36,861 | +63.7% |
| Amounts receivable within one year | 40/41 | €17,605 | €64,509 | +€46,904 | +266% |
| Trade receivables | 40 | €10,481 | €64,509 | +€54,027 | +515% |
| Other amounts receivable | 41 | €7,124 | - | -€7,124 | |
| Cash at bank and in hand | 54/58 | €35,517 | €28,952 | -€6,565 | -18.5% |
| Deferred charges and accrued income | 490/1 | €7,288 | €286 | -€7,002 | -96.1% |
| Total equity and liabilities | 10/49 | €153,563 | €213,730 | +€60,166 | +39.2% |
| Equity | 10/15 | €44,871 | €82,383 | +€37,512 | +83.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,871 | €77,383 | +€37,512 | +94.1% |
| Amounts payable | 17/49 | €108,693 | €131,347 | +€22,654 | +20.8% |
| Amounts payable within one year | 42/48 | €86,461 | €101,541 | +€15,080 | +17.4% |
| Trade debts | 44 | €66,630 | €76,305 | +€9,675 | +14.5% |
| Suppliers | 440/4 | €66,630 | €76,305 | +€9,675 | +14.5% |
| Advances received on contracts in progress | 46 | €4,717 | - | -€4,717 | |
| Taxes, remuneration and social security | 45 | €14,578 | €18,910 | +€4,332 | +29.7% |
| Taxes | 450/3 | €13,061 | €17,308 | +€4,247 | +32.5% |
| Remuneration and social security | 454/9 | €1,517 | €1,602 | +€85 | +5.6% |
| Other amounts payable | 47/48 | €536 | €6,326 | +€5,790 | +1,080% |
| Accrued charges and deferred income | 492/3 | €22,231 | €29,806 | +€7,575 | +34.1% |
| Remuneration, social security and pensions | 62 | €1,066 | €1,027 | -€39 | -3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,374 | €11,306 | +€7,932 | +235% |
| Other operating charges | 640/8 | €14,147 | €17,482 | +€3,335 | +23.6% |
| Gross operating margin | 9900 | €71,531 | €80,051 | +€8,520 | +11.9% |
| Operating profit (loss) | 9901 | €52,944 | €50,236 | -€2,708 | -5.1% |
| Financial income | 75/76B | €0 | €0 | -€0 | -33.3% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -33.3% |
| Financial charges | 65/66B | €12 | €27 | +€14 | +116% |
| Recurring financial charges | 65 | €12 | €27 | +€14 | +116% |
| Profit (loss) for the period before taxes | 9903 | €52,931 | €50,210 | -€2,722 | -5.1% |
| Income taxes | 67/77 | €13,061 | €12,698 | -€363 | -2.8% |
| Profit (loss) for the period | 9904 | €39,871 | €37,512 | -€2,359 | -5.9% |
| Profit (loss) for the period to be appropriated | 9905 | €39,871 | €37,512 | -€2,359 | -5.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.