MEN PROJECT: 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.
MEN PROJECT
Largest movements
- Stocks and contracts +€6,045
up €6,045 (+17.4%), from €34,718 to €40,763
- Cash -€4,893
down €4,893 (-46.1%), from €10,612 to €5,720
mainly Stocks and contracts (-€6,045) and Trade debts (-€5,519)
- Tangible fixed assets -€917
down €917 (-50.0%), from €1,833 to €917
- Other debts +€7,769
up €7,769 (+247%), from €3,148 to €10,917
- Trade debts -€5,519
down €5,519 (-73.2%), from €7,540 to €2,021
- Tax, wage and social debts -€4,477
down €4,477 (-64.1%), from €6,984 to €2,507
- Profit (loss) carried forward +€2,149
up €2,149 (+7.3%), from €29,490 to €31,639
- Staff costs +€7,809
up €7,809 (+26.0%), from €30,079 to €37,888
- Other operating charges -€5,191
down €5,191 (-74.4%), from €6,975 to €1,785
- Taxes +€3,869
up €3,869 (+316%), from €1,225 to €5,094
- Depreciation -€3,541
down €3,541 (-74.2%), from €4,772 to €1,231
- Gross operating margin +€1,494
up €1,494 (+3.2%), from €46,852 to €48,346
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 | €62,492 | €62,414 | -€79 | -0.1% |
| Fixed assets | 21/28 | €3,162 | €1,931 | -€1,231 | -38.9% |
| Intangible fixed assets | 21 | €629 | €314 | -€314 | -50.0% |
| Tangible fixed assets | 22/27 | €1,833 | €917 | -€917 | -50.0% |
| Other tangible fixed assets | 26 | €1,833 | €917 | -€917 | -50.0% |
| Financial fixed assets | 28 | €700 | €700 | = | 0.0% |
| Current assets | 29/58 | €59,330 | €60,483 | +€1,152 | +1.9% |
| Stocks and contracts in progress | 3 | €34,718 | €40,763 | +€6,045 | +17.4% |
| Stocks | 30/36 | €34,718 | €40,763 | +€6,045 | +17.4% |
| Amounts receivable within one year | 40/41 | €14,000 | €14,000 | = | 0.0% |
| Trade receivables | 40 | €14,000 | €14,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €10,612 | €5,720 | -€4,893 | -46.1% |
| Total equity and liabilities | 10/49 | €62,492 | €62,414 | -€79 | -0.1% |
| Equity | 10/15 | €44,820 | €46,969 | +€2,149 | +4.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Capital | 10 | €12,400 | €12,400 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €2,930 | €2,930 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,930 | €2,930 | = | 0.0% |
| Legal reserve | 130 | €930 | €930 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,490 | €31,639 | +€2,149 | +7.3% |
| Amounts payable | 17/49 | €17,672 | €15,445 | -€2,228 | -12.6% |
| Amounts payable within one year | 42/48 | €17,672 | €15,445 | -€2,228 | -12.6% |
| Trade debts | 44 | €7,540 | €2,021 | -€5,519 | -73.2% |
| Suppliers | 440/4 | €7,540 | €2,021 | -€5,519 | -73.2% |
| Taxes, remuneration and social security | 45 | €6,984 | €2,507 | -€4,477 | -64.1% |
| Taxes | 450/3 | €6,984 | €2,507 | -€4,477 | -64.1% |
| Other amounts payable | 47/48 | €3,148 | €10,917 | +€7,769 | +247% |
| Remuneration, social security and pensions | 62 | €30,079 | €37,888 | +€7,809 | +26.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,772 | €1,231 | -€3,541 | -74.2% |
| Other operating charges | 640/8 | €6,975 | €1,785 | -€5,191 | -74.4% |
| Gross operating margin | 9900 | €46,852 | €48,346 | +€1,494 | +3.2% |
| Operating profit (loss) | 9901 | €5,026 | €7,442 | +€2,416 | +48.1% |
| Financial income | 75/76B | - | €5 | +€5 | |
| Recurring financial income | 75 | - | €5 | +€5 | |
| Financial charges | 65/66B | €197 | €204 | +€8 | +3.9% |
| Recurring financial charges | 65 | €197 | €204 | +€8 | +3.9% |
| Profit (loss) for the period before taxes | 9903 | €4,830 | €7,243 | +€2,413 | +50.0% |
| Income taxes | 67/77 | €1,225 | €5,094 | +€3,869 | +316% |
| Profit (loss) for the period | 9904 | €3,605 | €2,149 | -€1,456 | -40.4% |
| Profit (loss) for the period to be appropriated | 9905 | €3,605 | €2,149 | -€1,456 | -40.4% |
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.