M3 Projects: 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.
M3 Projects
Largest movements
- Deferred charges and accrued income +€1.5m
up €1.5m (+17658.2%), from €8,659 to €1.5m
- Stocks and contracts -€1.2m
down €1.2m (-77.0%), from €1.5m to €356,707
of which Stocks: -€805,599
- Receivables within one year +€334,368
up €334,368 (+1485.7%), from €22,506 to €356,874
of which Trade receivables: +€334,321
- Other debts +€355,217
up €355,217 (+58.7%), from €605,000 to €960,217
- Current portion of long-term debt +€294,970
up €294,970 (+30.6%), from €964,500 to €1.3m
- Gross operating margin -€15,615
down €15,615 (-24.2%), from €64,609 to €48,994
- Financial charges +€12,177
up €12,177 (+42.9%), from €28,417 to €40,593
- Taxes -€8,353
down €8,353 (-89.2%), from €9,368 to €1,015
- Other operating charges +€3,049
up €3,049 (+176.2%), from €1,731 to €4,780
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,600,276 | €2,257,762 | +€657,486 | +41.1% |
| Current assets | 29/58 | €1,600,276 | €2,257,762 | +€657,486 | +41.1% |
| Stocks and contracts in progress | 3 | €1,549,663 | €356,707 | -€1.2m | -77.0% |
| Stocks | 30/36 | €1,056,884 | €251,285 | -€805,599 | -76.2% |
| Contracts in progress | 37 | €492,779 | €105,421 | -€387,358 | -78.6% |
| Amounts receivable within one year | 40/41 | €22,506 | €356,874 | +€334,368 | +1485.7% |
| Trade receivables | 40 | €22,436 | €356,757 | +€334,321 | +1490.1% |
| Other amounts receivable | 41 | €70 | €117 | +€47 | +67.3% |
| Cash at bank and in hand | 54/58 | €19,448 | €6,472 | -€12,976 | -66.7% |
| Deferred charges and accrued income | 490/1 | €8,659 | €1,537,710 | +€1.5m | +17658.2% |
| Total equity and liabilities | 10/49 | €1,600,276 | €2,257,762 | +€657,486 | +41.1% |
| Equity | 10/15 | €20,185 | €22,790 | +€2,605 | +12.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,185 | €20,790 | +€2,605 | +14.3% |
| Amounts payable | 17/49 | €1,580,091 | €2,234,972 | +€654,881 | +41.4% |
| Amounts payable within one year | 42/48 | €1,580,091 | €2,234,972 | +€654,881 | +41.4% |
| Current portion of amounts payable after more than one year | 42 | €964,500 | €1,259,470 | +€294,970 | +30.6% |
| Trade debts | 44 | - | €5,031 | +€5,031 | |
| Suppliers | 440/4 | - | €5,031 | +€5,031 | |
| Taxes, remuneration and social security | 45 | €10,591 | €10,254 | -€337 | -3.2% |
| Taxes | 450/3 | €10,591 | €10,254 | -€337 | -3.2% |
| Other amounts payable | 47/48 | €605,000 | €960,217 | +€355,217 | +58.7% |
| Remuneration, social security and pensions | 62 | €352 | - | -€352 | |
| Other operating charges | 640/8 | €1,731 | €4,780 | +€3,049 | +176.2% |
| Gross operating margin | 9900 | €64,609 | €48,994 | -€15,615 | -24.2% |
| Operating profit (loss) | 9901 | €62,526 | €44,214 | -€18,312 | -29.3% |
| Financial income | 75/76B | €113 | - | -€113 | |
| Recurring financial income | 75 | €113 | - | -€113 | |
| Financial charges | 65/66B | €28,417 | €40,593 | +€12,177 | +42.9% |
| Recurring financial charges | 65 | €28,417 | €40,593 | +€12,177 | +42.9% |
| Profit (loss) for the period before taxes | 9903 | €34,222 | €3,620 | -€30,602 | -89.4% |
| Income taxes | 67/77 | €9,368 | €1,015 | -€8,353 | -89.2% |
| Profit (loss) for the period | 9904 | €24,854 | €2,605 | -€22,249 | -89.5% |
| Profit (loss) for the period to be appropriated | 9905 | €24,854 | €2,605 | -€22,249 | -89.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.