ML 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.
ML Projects
Largest movements
- Stocks and contracts +€24,760
up €24,760 (+123.8%), from €20,000 to €44,760
- Cash -€14,846
down €14,846 (-19.2%), from €77,291 to €62,446
mainly Stocks and contracts (-€24,760) and Investment in fixed assets (net) (-€20,735)
- Tangible fixed assets +€4,693
up €4,693 (+6.4%), from €72,948 to €77,641
of which Land and buildings: +€9,359
- Deferred charges and accrued income -€4,116
down €4,116 (-100.0%), from €4,116 to €0
- Reserves +€34,224
up €34,224 (+33.7%), from €101,522 to €135,746
of which Distributable reserves: +€36,759
- Debts after one year -€15,294
down €15,294 (-91.9%), from €16,644 to €1,350
- Tax, wage and social debts +€13,826
up €13,826 (+628.5%), from €2,200 to €16,026
of which Taxes: +€12,176
- Other debts -€9,236
down €9,236 (-30.3%), from €30,436 to €21,199
- Trade debts -€7,391
down €7,391 (-59.0%), from €12,537 to €5,146
- Gross operating margin -€5,587
down €5,587 (-6.5%), from €85,813 to €80,226
- Taxes +€5,048
up €5,048 (+29.4%), from €17,166 to €22,214
- Other operating charges +€4,217
up €4,217 (+251.5%), from €1,677 to €5,894
- Financial income -€1,627
down €1,627 (-72.7%), from €2,237 to €610
- Financial charges -€1,434
down €1,434 (-35.3%), from €4,065 to €2,631
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 | €203,652 | €214,430 | +€10,778 | +5.3% |
| Fixed assets | 21/28 | €72,948 | €77,641 | +€4,693 | +6.4% |
| Tangible fixed assets | 22/27 | €72,948 | €77,641 | +€4,693 | +6.4% |
| Land and buildings | 22 | €50,259 | €59,618 | +€9,359 | +18.6% |
| Plant, machinery and equipment | 23 | €619 | €0 | -€619 | -100.0% |
| Furniture and vehicles | 24 | €2,393 | €4,658 | +€2,265 | +94.7% |
| Leasing and similar rights | 25 | €11,307 | €6,286 | -€5,021 | -44.4% |
| Other tangible fixed assets | 26 | €8,369 | €7,078 | -€1,291 | -15.4% |
| Current assets | 29/58 | €130,704 | €136,788 | +€6,084 | +4.7% |
| Stocks and contracts in progress | 3 | €20,000 | €44,760 | +€24,760 | +123.8% |
| Stocks | 30/36 | €20,000 | €44,760 | +€24,760 | +123.8% |
| Amounts receivable within one year | 40/41 | €29,297 | €29,583 | +€286 | +1.0% |
| Trade receivables | 40 | €14,267 | €23,686 | +€9,420 | +66.0% |
| Other amounts receivable | 41 | €15,030 | €5,896 | -€9,133 | -60.8% |
| Cash at bank and in hand | 54/58 | €77,291 | €62,446 | -€14,846 | -19.2% |
| Deferred charges and accrued income | 490/1 | €4,116 | €0 | -€4,116 | -100.0% |
| Total equity and liabilities | 10/49 | €203,652 | €214,430 | +€10,778 | +5.3% |
| Equity | 10/15 | €120,122 | €154,346 | +€34,224 | +28.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €101,522 | €135,746 | +€34,224 | +33.7% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100.0% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100.0% |
| Tax-exempt reserves | 132 | €1,349 | €675 | -€675 | -50.0% |
| Distributable reserves | 133 | €98,313 | €135,072 | +€36,759 | +37.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €337 | €169 | -€169 | -50.0% |
| Deferred taxes | 168 | €337 | €169 | -€169 | -50.0% |
| Amounts payable | 17/49 | €83,193 | €59,915 | -€23,278 | -28.0% |
| Amounts payable after more than one year | 17 | €16,644 | €1,350 | -€15,294 | -91.9% |
| Financial debts | 170/4 | €16,644 | €1,350 | -€15,294 | -91.9% |
| Amounts payable within one year | 42/48 | €61,660 | €58,565 | -€3,095 | -5.0% |
| Current portion of amounts payable after more than one year | 42 | €16,488 | €16,194 | -€294 | -1.8% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €12,537 | €5,146 | -€7,391 | -59.0% |
| Suppliers | 440/4 | €12,537 | €5,146 | -€7,391 | -59.0% |
| Taxes, remuneration and social security | 45 | €2,200 | €16,026 | +€13,826 | +628.5% |
| Taxes | 450/3 | €2,200 | €14,376 | +€12,176 | +553.5% |
| Remuneration and social security | 454/9 | €0 | €1,650 | +€1,650 | |
| Other amounts payable | 47/48 | €30,436 | €21,199 | -€9,236 | -30.3% |
| Accrued charges and deferred income | 492/3 | €4,889 | €0 | -€4,889 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,422 | €16,041 | +€619 | +4.0% |
| Other operating charges | 640/8 | €1,677 | €5,894 | +€4,217 | +251.5% |
| Gross operating margin | 9900 | €85,813 | €80,226 | -€5,587 | -6.5% |
| Operating profit (loss) | 9901 | €68,714 | €58,291 | -€10,423 | -15.2% |
| Financial income | 75/76B | €2,237 | €610 | -€1,627 | -72.7% |
| Recurring financial income | 75 | €2,237 | €610 | -€1,627 | -72.7% |
| Financial charges | 65/66B | €4,065 | €2,631 | -€1,434 | -35.3% |
| Recurring financial charges | 65 | €4,065 | €2,631 | -€1,434 | -35.3% |
| Profit (loss) for the period before taxes | 9903 | €66,886 | €56,270 | -€10,616 | -15.9% |
| Transfer from deferred taxes | 780 | €169 | €169 | = | 0.0% |
| Income taxes | 67/77 | €17,166 | €22,214 | +€5,048 | +29.4% |
| Profit (loss) for the period | 9904 | €49,889 | €34,224 | -€15,665 | -31.4% |
| Transfer from tax-exempt reserves | 789 | €675 | €675 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €50,564 | €34,899 | -€15,665 | -31.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.