MK 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.
MK PROJECTS
Largest movements
- Receivables within one year -€162,681
down €162,681 (-99.5%), from €163,521 to €840
of which Trade receivables: -€162,681
- Tangible fixed assets -€73,278
down €73,278 (-3.2%), from €2.3m to €2.2m
of which Land and buildings: -€65,563
- Deferred charges and accrued income +€57,186
up €57,186 (+608.0%), from €9,406 to €66,592
- Cash -€52,834
down €52,834 (-77.4%), from €68,228 to €15,394
mainly Debts after one year (-€362,171) and Deferred charges and accrued income (-€57,186)
- Debts after one year -€362,171
down €362,171 (-15.8%), from €2.3m to €1.9m
of which Other amounts payable: -€219,825
- Reserves +€78,729
up €78,729 (+77.3%), from €101,901 to €180,629
- Gross operating margin +€71,363
up €71,363 (+46.9%), from €152,052 to €223,414
- Depreciation -€71,189
down €71,189 (-49.3%), from €144,467 to €73,278
- Staff costs -€12,833
down €12,833 (-100.0%), from €12,833 to €0
- Financial charges +€10,095
up €10,095 (+24.8%), from €40,682 to €50,777
- Taxes +€8,248
up €8,248 (+1446994.7%), from €1 to €8,248
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.
Cash bridge derived
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 | €2,585,793 | €2,355,095 | -€230,698 | -8.9% |
| Fixed assets | 21/28 | €2,336,709 | €2,263,431 | -€73,278 | -3.1% |
| Tangible fixed assets | 22/27 | €2,275,179 | €2,201,901 | -€73,278 | -3.2% |
| Land and buildings | 22 | €2,243,014 | €2,177,451 | -€65,563 | -2.9% |
| Plant, machinery and equipment | 23 | €26,948 | €23,944 | -€3,004 | -11.1% |
| Furniture and vehicles | 24 | €5,217 | €506 | -€4,711 | -90.3% |
| Financial fixed assets | 28 | €61,530 | €61,530 | = | 0.0% |
| Current assets | 29/58 | €249,084 | €91,664 | -€157,420 | -63.2% |
| Stocks and contracts in progress | 3 | €7,929 | €8,837 | +€908 | +11.5% |
| Stocks | 30/36 | €7,929 | €8,837 | +€908 | +11.5% |
| Amounts receivable within one year | 40/41 | €163,521 | €840 | -€162,681 | -99.5% |
| Trade receivables | 40 | €163,521 | €840 | -€162,681 | -99.5% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €68,228 | €15,394 | -€52,834 | -77.4% |
| Deferred charges and accrued income | 490/1 | €9,406 | €66,592 | +€57,186 | +608.0% |
| Total equity and liabilities | 10/49 | €2,585,793 | €2,355,095 | -€230,698 | -8.9% |
| Equity | 10/15 | €108,101 | €186,829 | +€78,729 | +72.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €101,901 | €180,629 | +€78,729 | +77.3% |
| Distributable reserves | 133 | €101,901 | €180,629 | +€78,729 | +77.3% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €2,477,693 | €2,168,265 | -€309,427 | -12.5% |
| Amounts payable after more than one year | 17 | €2,289,263 | €1,927,093 | -€362,171 | -15.8% |
| Financial debts | 170/4 | €1,651,978 | €1,509,632 | -€142,346 | -8.6% |
| Other amounts payable | 178/9 | €637,285 | €417,461 | -€219,825 | -34.5% |
| Amounts payable within one year | 42/48 | €166,881 | €222,395 | +€55,514 | +33.3% |
| Current portion of amounts payable after more than one year | 42 | €139,497 | €142,346 | +€2,849 | +2.0% |
| Trade debts | 44 | €12,243 | €31,661 | +€19,418 | +158.6% |
| Suppliers | 440/4 | €12,243 | €31,661 | +€19,418 | +158.6% |
| Taxes, remuneration and social security | 45 | €7,503 | €16,329 | +€8,826 | +117.6% |
| Taxes | 450/3 | €7,503 | €13,404 | +€5,901 | +78.6% |
| Remuneration and social security | 454/9 | €0 | €2,926 | +€2,926 | |
| Other amounts payable | 47/48 | €7,637 | €32,058 | +€24,421 | +319.8% |
| Accrued charges and deferred income | 492/3 | €21,548 | €18,778 | -€2,770 | -12.9% |
| Remuneration, social security and pensions | 62 | €12,833 | €0 | -€12,833 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €144,467 | €73,278 | -€71,189 | -49.3% |
| Other operating charges | 640/8 | €14,832 | €12,399 | -€2,434 | -16.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €152,052 | €223,414 | +€71,363 | +46.9% |
| Operating profit (loss) | 9901 | -€20,082 | €137,738 | +€157,819 | |
| Financial income | 75/76B | €0 | €16 | +€16 | |
| Recurring financial income | 75 | €0 | €16 | +€16 | |
| Financial charges | 65/66B | €40,682 | €50,777 | +€10,095 | +24.8% |
| Recurring financial charges | 65 | €40,682 | €50,777 | +€10,095 | +24.8% |
| Profit (loss) for the period before taxes | 9903 | -€60,763 | €86,977 | +€147,741 | |
| Income taxes | 67/77 | €1 | €8,248 | +€8,248 | +1446994.7% |
| Profit (loss) for the period | 9904 | -€60,764 | €78,729 | +€139,493 | |
| Profit (loss) for the period to be appropriated | 9905 | -€60,764 | €78,729 | +€139,493 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.