ML BOUW: 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.
ML BOUW
Largest movements
- Cash +€19,522
up €19,522 (+217.6%), from €8,972 to €28,494
mainly Receivables within one year (+€18,022) and Stocks and contracts (+€16,255)
- Receivables within one year -€18,022
down €18,022 (-40.5%), from €44,506 to €26,484
of which Trade receivables: -€17,243
- Stocks and contracts -€16,255
down €16,255 (-22.4%), from €72,669 to €56,414
- Deferred charges and accrued income +€7,080
up €7,080 (+151.1%), from €4,684 to €11,764
- Tangible fixed assets -€3,436
down €3,436 (-18.4%), from €18,677 to €15,241
of which Furniture and vehicles: -€3,670
- Current portion of long-term debt -€35,973
down €35,973 (-30.5%), from €117,854 to €81,882
- Trade debts +€14,888
up €14,888 (+135.5%), from €10,984 to €25,872
- Tax, wage and social debts +€6,732
up €6,732 (+26.9%), from €25,068 to €31,800
of which Remuneration and social security: +€8,650
- Other debts +€4,218
up €4,218 (+7.6%), from €55,479 to €59,697
- Gross operating margin -€14,174
down €14,174 (-39.0%), from €36,377 to €22,203
- Write-downs +€4,024
up €4,024, from -€4,024 to €0
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 | €149,507 | €138,397 | -€11,110 | -7.4% |
| Fixed assets | 21/28 | €18,677 | €15,241 | -€3,436 | -18.4% |
| Tangible fixed assets | 22/27 | €18,677 | €15,241 | -€3,436 | -18.4% |
| Plant, machinery and equipment | 23 | €4,032 | €4,266 | +€234 | +5.8% |
| Furniture and vehicles | 24 | €14,645 | €10,975 | -€3,670 | -25.1% |
| Current assets | 29/58 | €130,831 | €123,156 | -€7,675 | -5.9% |
| Stocks and contracts in progress | 3 | €72,669 | €56,414 | -€16,255 | -22.4% |
| Stocks | 30/36 | €72,669 | €56,414 | -€16,255 | -22.4% |
| Amounts receivable within one year | 40/41 | €44,506 | €26,484 | -€18,022 | -40.5% |
| Trade receivables | 40 | €24,273 | €7,030 | -€17,243 | -71.0% |
| Other amounts receivable | 41 | €20,232 | €19,454 | -€778 | -3.8% |
| Cash at bank and in hand | 54/58 | €8,972 | €28,494 | +€19,522 | +217.6% |
| Deferred charges and accrued income | 490/1 | €4,684 | €11,764 | +€7,080 | +151.1% |
| Total equity and liabilities | 10/49 | €149,507 | €138,397 | -€11,110 | -7.4% |
| Equity | 10/15 | -€62,689 | -€63,917 | -€1,228 | -2.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €38,594 | €38,594 | = | 0.0% |
| Distributable reserves | 133 | €38,594 | €38,594 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€119,883 | -€121,111 | -€1,228 | -1.0% |
| Amounts payable | 17/49 | €212,196 | €202,314 | -€9,882 | -4.7% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €209,385 | €199,250 | -€10,135 | -4.8% |
| Current portion of amounts payable after more than one year | 42 | €117,854 | €81,882 | -€35,973 | -30.5% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €10,984 | €25,872 | +€14,888 | +135.5% |
| Suppliers | 440/4 | €10,984 | €25,872 | +€14,888 | +135.5% |
| Taxes, remuneration and social security | 45 | €25,068 | €31,800 | +€6,732 | +26.9% |
| Taxes | 450/3 | €8,068 | €6,150 | -€1,918 | -23.8% |
| Remuneration and social security | 454/9 | €17,000 | €25,650 | +€8,650 | +50.9% |
| Other amounts payable | 47/48 | €55,479 | €59,697 | +€4,218 | +7.6% |
| Accrued charges and deferred income | 492/3 | €2,811 | €3,064 | +€252 | +9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,548 | €8,584 | +€35 | +0.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€4,024 | €0 | +€4,024 | |
| Other operating charges | 640/8 | €1,911 | €1,734 | -€176 | -9.2% |
| Gross operating margin | 9900 | €36,377 | €22,203 | -€14,174 | -39.0% |
| Operating profit (loss) | 9901 | €29,942 | €11,885 | -€18,057 | -60.3% |
| Financial income | 75/76B | €352 | €311 | -€41 | -11.7% |
| Recurring financial income | 75 | €352 | €311 | -€41 | -11.7% |
| Financial charges | 65/66B | €12,963 | €13,274 | +€311 | +2.4% |
| Recurring financial charges | 65 | €12,963 | €13,274 | +€311 | +2.4% |
| Profit (loss) for the period before taxes | 9903 | €17,332 | -€1,077 | -€18,409 | |
| Income taxes | 67/77 | €174 | €151 | -€23 | -13.2% |
| Profit (loss) for the period | 9904 | €17,158 | -€1,228 | -€18,386 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,158 | -€1,228 | -€18,386 |
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 9 October 2026 via checked.be.