MLD 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.
MLD PROJECTS
Largest movements
- Stocks and contracts +€140,026
up €140,026 (+522.4%), from €26,805 to €166,832
of which Contracts in progress: +€140,026
- Cash +€47,280
up €47,280 (+951.9%), from €4,967 to €52,247
mainly Advances received (+€98,246) and Trade debts (+€74,367)
- Intangible fixed assets +€12,021
up €12,021 (+240.5%), from €4,998 to €17,019
- Receivables within one year +€11,057
up €11,057 (+9.1%), from €121,329 to €132,386
of which Trade receivables: +€16,057
- Deferred charges and accrued income +€6,629
up €6,629 (+16.9%), from €39,219 to €45,848
- Advances received +€98,246
up €98,246 (+68.4%), from €143,612 to €241,858
- Trade debts +€74,367
up €74,367 (+377.4%), from €19,703 to €94,071
- Profit (loss) carried forward +€39,347
up €39,347 (+187.8%), from €20,954 to €60,301
- Tax, wage and social debts +€6,086
up €6,086 (+4763.0%), from €128 to €6,213
- Gross operating margin +€35,773
up €35,773 (+133.3%), from €26,830 to €62,603
- Taxes +€9,412
up €9,412 (+161.0%), from €5,846 to €15,258
- Depreciation +€5,086
up €5,086 (+288.2%), from €1,765 to €6,851
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 | €201,463 | €416,713 | +€215,251 | +106.8% |
| Fixed assets | 21/28 | €9,142 | €19,400 | +€10,258 | +112.2% |
| Intangible fixed assets | 21 | €4,998 | €17,019 | +€12,021 | +240.5% |
| Tangible fixed assets | 22/27 | €4,144 | €2,381 | -€1,763 | -42.5% |
| Plant, machinery and equipment | 23 | €365 | €77 | -€287 | -78.8% |
| Furniture and vehicles | 24 | €3,779 | €2,304 | -€1,476 | -39.0% |
| Current assets | 29/58 | €192,321 | €397,313 | +€204,992 | +106.6% |
| Stocks and contracts in progress | 3 | €26,805 | €166,832 | +€140,026 | +522.4% |
| Stocks | 30/36 | €0 | - | = | |
| Contracts in progress | 37 | €26,805 | €166,832 | +€140,026 | +522.4% |
| Amounts receivable within one year | 40/41 | €121,329 | €132,386 | +€11,057 | +9.1% |
| Trade receivables | 40 | €113,835 | €129,892 | +€16,057 | +14.1% |
| Other amounts receivable | 41 | €7,494 | €2,494 | -€5,000 | -66.7% |
| Cash at bank and in hand | 54/58 | €4,967 | €52,247 | +€47,280 | +951.9% |
| Deferred charges and accrued income | 490/1 | €39,219 | €45,848 | +€6,629 | +16.9% |
| Total equity and liabilities | 10/49 | €201,463 | €416,713 | +€215,251 | +106.8% |
| Equity | 10/15 | €33,354 | €72,701 | +€39,347 | +118.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,954 | €60,301 | +€39,347 | +187.8% |
| Amounts payable | 17/49 | €168,109 | €344,012 | +€175,903 | +104.6% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €167,949 | €344,012 | +€176,063 | +104.8% |
| Current portion of amounts payable after more than one year | 42 | €2,615 | €0 | -€2,615 | -100.0% |
| Trade debts | 44 | €19,703 | €94,071 | +€74,367 | +377.4% |
| Suppliers | 440/4 | €19,703 | €94,071 | +€74,367 | +377.4% |
| Advances received on contracts in progress | 46 | €143,612 | €241,858 | +€98,246 | +68.4% |
| Taxes, remuneration and social security | 45 | €128 | €6,213 | +€6,086 | +4763.0% |
| Taxes | 450/3 | €128 | €6,213 | +€6,086 | +4763.0% |
| Other amounts payable | 47/48 | €1,890 | €1,870 | -€20 | -1.1% |
| Accrued charges and deferred income | 492/3 | €160 | €0 | -€160 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,765 | €6,851 | +€5,086 | +288.2% |
| Other operating charges | 640/8 | €901 | €928 | +€27 | +3.0% |
| Gross operating margin | 9900 | €26,830 | €62,603 | +€35,773 | +133.3% |
| Operating profit (loss) | 9901 | €24,165 | €54,824 | +€30,659 | +126.9% |
| Financial income | 75/76B | €116 | €199 | +€83 | +72.1% |
| Recurring financial income | 75 | €116 | €199 | +€83 | +72.1% |
| Financial charges | 65/66B | €247 | €418 | +€171 | +69.4% |
| Recurring financial charges | 65 | €247 | €418 | +€171 | +69.4% |
| Profit (loss) for the period before taxes | 9903 | €24,034 | €54,605 | +€30,572 | +127.2% |
| Income taxes | 67/77 | €5,846 | €15,258 | +€9,412 | +161.0% |
| Profit (loss) for the period | 9904 | €18,188 | €39,347 | +€21,159 | +116.3% |
| Profit (loss) for the period to be appropriated | 9905 | €18,188 | €39,347 | +€21,159 | +116.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.