ML Works: 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 Works
Largest movements
- Cash +€44,264
up €44,264 (+244%), from €18,146 to €62,410
mainly Net result for the year (+€67,042) and Trade debts (+€16,371)
- Receivables within one year +€36,123
up €36,123 (+23.2%), from €155,489 to €191,612
of which Other amounts receivable: +€40,420
- Tangible fixed assets +€8,617
up €8,617 (+14.2%), from €60,574 to €69,191
of which Furniture and vehicles: +€11,428
- Profit (loss) carried forward +€67,042
up €67,042 (+40.3%), from €166,244 to €233,286
- Trade debts +€16,371
up €16,371 (+174%), from €9,410 to €25,782
- Accrued charges and deferred income +€6,705
new in 2025: €6,705
- Tax, wage and social debts +€6,362
up €6,362 (+25.7%), from €24,771 to €31,133
of which Taxes: +€10,039
- Debts after one year -€4,849
down €4,849 (-20.1%), from €24,149 to €19,300
- Gross operating margin +€40,098
up €40,098 (+22.3%), from €179,425 to €219,522
- Taxes +€8,543
up €8,543 (+86.4%), from €9,883 to €18,426
- Staff costs +€7,331
up €7,331 (+5.8%), from €126,862 to €134,193
- Financial income +€6,609
up €6,609 (+137%), from €4,822 to €11,431
- Depreciation +€4,044
up €4,044 (+88.9%), from €4,551 to €8,595
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 | €234,209 | €326,055 | +€91,846 | +39.2% |
| Fixed assets | 21/28 | €60,574 | €69,191 | +€8,617 | +14.2% |
| Tangible fixed assets | 22/27 | €60,574 | €69,191 | +€8,617 | +14.2% |
| Land and buildings | 22 | €33,545 | €32,470 | -€1,075 | -3.2% |
| Plant, machinery and equipment | 23 | €14,847 | €13,111 | -€1,736 | -11.7% |
| Furniture and vehicles | 24 | €12,182 | €23,610 | +€11,428 | +93.8% |
| Current assets | 29/58 | €173,635 | €256,864 | +€83,229 | +47.9% |
| Amounts receivable within one year | 40/41 | €155,489 | €191,612 | +€36,123 | +23.2% |
| Trade receivables | 40 | €49,472 | €45,175 | -€4,298 | -8.7% |
| Other amounts receivable | 41 | €106,017 | €146,438 | +€40,420 | +38.1% |
| Cash at bank and in hand | 54/58 | €18,146 | €62,410 | +€44,264 | +244% |
| Deferred charges and accrued income | 490/1 | - | €2,843 | +€2,843 | |
| Total equity and liabilities | 10/49 | €234,209 | €326,055 | +€91,846 | +39.2% |
| Equity | 10/15 | €171,244 | €238,286 | +€67,042 | +39.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €166,244 | €233,286 | +€67,042 | +40.3% |
| Amounts payable | 17/49 | €62,965 | €87,769 | +€24,804 | +39.4% |
| Amounts payable after more than one year | 17 | €24,149 | €19,300 | -€4,849 | -20.1% |
| Financial debts | 170/4 | €24,149 | €19,300 | -€4,849 | -20.1% |
| Amounts payable within one year | 42/48 | €38,816 | €61,764 | +€22,948 | +59.1% |
| Current portion of amounts payable after more than one year | 42 | €4,635 | €4,849 | +€215 | +4.6% |
| Trade debts | 44 | €9,410 | €25,782 | +€16,371 | +174% |
| Suppliers | 440/4 | €9,410 | €25,782 | +€16,371 | +174% |
| Taxes, remuneration and social security | 45 | €24,771 | €31,133 | +€6,362 | +25.7% |
| Taxes | 450/3 | €1,349 | €11,389 | +€10,039 | +744% |
| Remuneration and social security | 454/9 | €23,422 | €19,744 | -€3,678 | -15.7% |
| Accrued charges and deferred income | 492/3 | - | €6,705 | +€6,705 | |
| Remuneration, social security and pensions | 62 | €126,862 | €134,193 | +€7,331 | +5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,551 | €8,595 | +€4,044 | +88.9% |
| Other operating charges | 640/8 | €1,115 | €1,486 | +€371 | +33.2% |
| Gross operating margin | 9900 | €179,425 | €219,522 | +€40,098 | +22.3% |
| Operating profit (loss) | 9901 | €46,897 | €75,249 | +€28,352 | +60.5% |
| Financial income | 75/76B | €4,822 | €11,431 | +€6,609 | +137% |
| Recurring financial income | 75 | €4,822 | €11,431 | +€6,609 | +137% |
| Financial charges | 65/66B | €1,417 | €1,212 | -€205 | -14.5% |
| Recurring financial charges | 65 | €1,417 | €1,212 | -€205 | -14.5% |
| Profit (loss) for the period before taxes | 9903 | €50,302 | €85,468 | +€35,167 | +69.9% |
| Income taxes | 67/77 | €9,883 | €18,426 | +€8,543 | +86.4% |
| Profit (loss) for the period | 9904 | €40,418 | €67,042 | +€26,624 | +65.9% |
| Profit (loss) for the period to be appropriated | 9905 | €40,418 | €67,042 | +€26,624 | +65.9% |
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 21 October 2026 via checked.be.