MC construct & design: 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.
MC construct & design
Largest movements
- Stocks and contracts -€80,021
down €80,021 (-52.9%), from €151,144 to €71,123
of which Contracts in progress: -€71,123
- Tangible fixed assets -€16,967
down €16,967 (-13.2%), from €128,361 to €111,394
of which Furniture and vehicles: -€10,212
- Receivables within one year +€13,289
up €13,289 (+23.7%), from €55,984 to €69,272
of which Other amounts receivable: +€7,569
- Deferred charges and accrued income -€7,395
no longer reported in 2025 (was €7,395)
- Current portion of long-term debt -€176,826
down €176,826 (-86.9%), from €203,519 to €26,693
- Debts after one year +€44,440
up €44,440 (+120%), from €36,990 to €81,430
- Short-term financial debts +€34,515
new in 2025: €34,515
of which Credit institutions: +€31,398
- Tax, wage and social debts -€16,972
down €16,972 (-56.9%), from €29,815 to €12,843
of which Remuneration and social security: -€12,900
- Other debts +€10,000
new in 2025: €10,000
- Gross operating margin +€57,613
up €57,613 (+182%), from €31,584 to €89,197
- Financial charges +€7,202
up €7,202 (+79.1%), from €9,105 to €16,306
- Staff costs +€5,123
up €5,123 (+13.0%), from €39,541 to €44,664
- Other operating charges -€2,311
down €2,311 (-96.3%), from €2,401 to €90
- Depreciation -€1,926
down €1,926 (-10.2%), from €18,893 to €16,967
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 | €344,282 | €252,059 | -€92,224 | -26.8% |
| Fixed assets | 21/28 | €128,361 | €111,394 | -€16,967 | -13.2% |
| Tangible fixed assets | 22/27 | €128,361 | €111,394 | -€16,967 | -13.2% |
| Land and buildings | 22 | €94,954 | €89,306 | -€5,647 | -5.9% |
| Plant, machinery and equipment | 23 | €1,659 | €551 | -€1,108 | -66.8% |
| Furniture and vehicles | 24 | €31,748 | €21,537 | -€10,212 | -32.2% |
| Current assets | 29/58 | €215,921 | €140,665 | -€75,257 | -34.9% |
| Stocks and contracts in progress | 3 | €151,144 | €71,123 | -€80,021 | -52.9% |
| Stocks | 30/36 | €8,898 | - | -€8,898 | |
| Contracts in progress | 37 | €142,246 | €71,123 | -€71,123 | -50.0% |
| Amounts receivable within one year | 40/41 | €55,984 | €69,272 | +€13,289 | +23.7% |
| Trade receivables | 40 | €44,217 | €49,937 | +€5,720 | +12.9% |
| Other amounts receivable | 41 | €11,767 | €19,335 | +€7,569 | +64.3% |
| Cash at bank and in hand | 54/58 | €1,398 | €269 | -€1,129 | -80.7% |
| Deferred charges and accrued income | 490/1 | €7,395 | - | -€7,395 | |
| Total equity and liabilities | 10/49 | €344,282 | €252,059 | -€92,224 | -26.8% |
| Equity | 10/15 | €54,061 | €58,749 | +€4,687 | +8.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €44,061 | €48,749 | +€4,687 | +10.6% |
| Amounts payable | 17/49 | €290,221 | €193,310 | -€96,911 | -33.4% |
| Amounts payable after more than one year | 17 | €36,990 | €81,430 | +€44,440 | +120% |
| Financial debts | 170/4 | €36,990 | €81,430 | +€44,440 | +120% |
| Amounts payable within one year | 42/48 | €253,231 | €110,641 | -€142,591 | -56.3% |
| Current portion of amounts payable after more than one year | 42 | €203,519 | €26,693 | -€176,826 | -86.9% |
| Financial debts | 43 | - | €34,515 | +€34,515 | |
| Credit institutions | 430/8 | - | €31,398 | +€31,398 | |
| Other loans | 439 | - | €3,118 | +€3,118 | |
| Trade debts | 44 | €19,897 | €26,589 | +€6,692 | +33.6% |
| Suppliers | 440/4 | €19,897 | €26,589 | +€6,692 | +33.6% |
| Taxes, remuneration and social security | 45 | €29,815 | €12,843 | -€16,972 | -56.9% |
| Taxes | 450/3 | €5,997 | €1,925 | -€4,072 | -67.9% |
| Remuneration and social security | 454/9 | €23,818 | €10,918 | -€12,900 | -54.2% |
| Other amounts payable | 47/48 | - | €10,000 | +€10,000 | |
| Accrued charges and deferred income | 492/3 | - | €1,240 | +€1,240 | |
| Non-recurring operating income | 76A | - | €11,335 | +€11,335 | |
| Remuneration, social security and pensions | 62 | €39,541 | €44,664 | +€5,123 | +13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,893 | €16,967 | -€1,926 | -10.2% |
| Other operating charges | 640/8 | €2,401 | €90 | -€2,311 | -96.3% |
| Non-recurring operating charges | 66A | - | €7,472 | +€7,472 | |
| Gross operating margin | 9900 | €31,584 | €89,197 | +€57,613 | +182% |
| Operating profit (loss) | 9901 | -€29,252 | €20,004 | +€49,256 | |
| Financial charges | 65/66B | €9,105 | €16,306 | +€7,202 | +79.1% |
| Recurring financial charges | 65 | €9,105 | €16,306 | +€7,202 | +79.1% |
| Profit (loss) for the period before taxes | 9903 | -€38,356 | €3,697 | +€42,054 | |
| Income taxes | 67/77 | - | -€990 | -€990 | |
| Profit (loss) for the period | 9904 | -€38,356 | €4,687 | +€43,044 | |
| Profit (loss) for the period to be appropriated | 9905 | -€38,356 | €4,687 | +€43,044 |
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.