ML PROJECTEN: 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 PROJECTEN
Largest movements
- Receivables within one year +€186,939
up €186,939 (+317.0%), from €58,968 to €245,907
of which Trade receivables: +€206,091
- Cash -€165,619
down €165,619 (-38.7%), from €427,504 to €261,886
mainly Receivables within one year (-€186,939) and Net result for the year (-€105,898)
- Stocks and contracts -€151,135
down €151,135 (-99.3%), from €152,135 to €1,000
- Profit (loss) carried forward -€105,898
new in 2025: -€105,898
- Trade debts -€45,494
down €45,494 (-82.0%), from €55,481 to €9,987
- Debts after one year +€32,226
up €32,226 (+83.9%), from €38,409 to €70,634
- Reserves -€25,000
down €25,000 (-1.7%), from €1.5m to €1.5m
- Financial income -€223,441
down €223,441 (-98.6%), from €226,718 to €3,277
of which Non-recurring financial income: -€215,000
- Gross operating margin -€56,864
down €56,864 (-73.7%), from €77,144 to €20,280
- Write-downs -€22,500
down €22,500 (-100.0%), from €22,500 to €0
- Financial charges -€12,030
down €12,030 (-79.0%), from €15,228 to €3,198
- Depreciation -€9,632
down €9,632 (-8.7%), from €111,244 to €101,612
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 | €1,842,235 | €1,695,276 | -€146,959 | -8.0% |
| Fixed assets | 21/28 | €1,195,308 | €1,180,211 | -€15,098 | -1.3% |
| Tangible fixed assets | 22/27 | €983,180 | €968,083 | -€15,098 | -1.5% |
| Land and buildings | 22 | €905,076 | €873,582 | -€31,494 | -3.5% |
| Plant, machinery and equipment | 23 | €4,083 | €3,161 | -€922 | -22.6% |
| Furniture and vehicles | 24 | €15,203 | €2,499 | -€12,704 | -83.6% |
| Leasing and similar rights | 25 | €58,818 | €88,840 | +€30,022 | +51.0% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €212,128 | €212,128 | = | 0.0% |
| Current assets | 29/58 | €646,926 | €515,065 | -€131,861 | -20.4% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €152,135 | €1,000 | -€151,135 | -99.3% |
| Stocks | 30/36 | €152,135 | €1,000 | -€151,135 | -99.3% |
| Amounts receivable within one year | 40/41 | €58,968 | €245,907 | +€186,939 | +317.0% |
| Trade receivables | 40 | €35,567 | €241,658 | +€206,091 | +579.4% |
| Other amounts receivable | 41 | €23,401 | €4,250 | -€19,151 | -81.8% |
| Cash at bank and in hand | 54/58 | €427,504 | €261,886 | -€165,619 | -38.7% |
| Deferred charges and accrued income | 490/1 | €8,319 | €6,272 | -€2,047 | -24.6% |
| Total equity and liabilities | 10/49 | €1,842,235 | €1,695,276 | -€146,959 | -8.0% |
| Equity | 10/15 | €1,719,186 | €1,588,288 | -€130,898 | -7.6% |
| Contributions | 10/11 | €237,605 | €237,605 | = | 0.0% |
| Reserves | 13 | €1,481,581 | €1,456,581 | -€25,000 | -1.7% |
| Distributable reserves | 133 | €1,481,581 | €1,456,581 | -€25,000 | -1.7% |
| Profit (loss) carried forward | 14 | - | -€105,898 | -€105,898 | |
| Amounts payable | 17/49 | €123,049 | €106,987 | -€16,061 | -13.1% |
| Amounts payable after more than one year | 17 | €38,409 | €70,634 | +€32,226 | +83.9% |
| Financial debts | 170/4 | €38,409 | €70,634 | +€32,226 | +83.9% |
| Amounts payable within one year | 42/48 | €84,640 | €36,353 | -€48,287 | -57.0% |
| Current portion of amounts payable after more than one year | 42 | €20,583 | €18,454 | -€2,130 | -10.3% |
| Financial debts | 43 | €5,885 | €0 | -€5,885 | -100.0% |
| Credit institutions | 430/8 | €5,885 | €0 | -€5,885 | -100.0% |
| Trade debts | 44 | €55,481 | €9,987 | -€45,494 | -82.0% |
| Suppliers | 440/4 | €55,481 | €9,987 | -€45,494 | -82.0% |
| Taxes, remuneration and social security | 45 | €2,691 | €5,203 | +€2,512 | +93.4% |
| Taxes | 450/3 | €2,691 | €3,043 | +€352 | +13.1% |
| Remuneration and social security | 454/9 | - | €2,160 | +€2,160 | |
| Other amounts payable | 47/48 | €0 | €2,709 | +€2,709 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €111,244 | €101,612 | -€9,632 | -8.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €22,500 | €0 | -€22,500 | -100.0% |
| Other operating charges | 640/8 | €6,842 | €12,684 | +€5,843 | +85.4% |
| Non-recurring operating charges | 66A | €6,714 | €9,547 | +€2,833 | +42.2% |
| Gross operating margin | 9900 | €77,144 | €20,280 | -€56,864 | -73.7% |
| Operating profit (loss) | 9901 | -€70,156 | -€103,564 | -€33,408 | -47.6% |
| Financial income | 75/76B | €226,718 | €3,277 | -€223,441 | -98.6% |
| Recurring financial income | 75 | €11,718 | €3,277 | -€8,441 | -72.0% |
| Non-recurring financial income | 76B | €215,000 | €0 | -€215,000 | -100.0% |
| Financial charges | 65/66B | €15,228 | €3,198 | -€12,030 | -79.0% |
| Recurring financial charges | 65 | €15,228 | €3,198 | -€12,030 | -79.0% |
| Profit (loss) for the period before taxes | 9903 | €141,334 | -€103,485 | -€244,818 | |
| Income taxes | 67/77 | €560 | €2,413 | +€1,853 | +330.7% |
| Profit (loss) for the period | 9904 | €140,773 | -€105,898 | -€246,671 | |
| Profit (loss) for the period to be appropriated | 9905 | €140,773 | -€105,898 | -€246,671 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.