MNA 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.
MNA PROJECTS
Largest movements
- Cash +€81,596
up €81,596 (+133.2%), from €61,240 to €142,836
mainly Receivables within one year (+€61,455) and Current investments (+€25,000)
- Receivables within one year -€61,455
down €61,455 (-75.0%), from €81,896 to €20,441
of which Other amounts receivable: -€43,389
- Current investments -€25,000
down €25,000 (-50.0%), from €50,000 to €25,000
- Tangible fixed assets +€2,648
new in 2025: €2,648
- Other debts +€7,074
up €7,074 (+3323.0%), from €213 to €7,287
- Reserves -€7,033
down €7,033 (-4.1%), from €170,781 to €163,748
of which Distributable reserves: -€7,033
- Trade debts -€2,653
down €2,653 (-70.6%), from €3,756 to €1,103
- Gross operating margin -€3,802
down €3,802 (-69.1%), from €5,502 to €1,700
- Other operating charges -€3,298
down €3,298 (-83.3%), from €3,961 to €663
- Financial income -€1,706
down €1,706 (-41.8%), from €4,082 to €2,376
- Taxes -€704
down €704 (-39.1%), from €1,803 to €1,099
- Depreciation +€530
new in 2025: €530
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 | €194,338 | €190,926 | -€3,413 | -1.8% |
| Fixed assets | 21/28 | - | €2,648 | +€2,648 | |
| Tangible fixed assets | 22/27 | - | €2,648 | +€2,648 | |
| Furniture and vehicles | 24 | - | €2,648 | +€2,648 | |
| Current assets | 29/58 | €194,338 | €188,277 | -€6,061 | -3.1% |
| Amounts receivable within one year | 40/41 | €81,896 | €20,441 | -€61,455 | -75.0% |
| Trade receivables | 40 | €33,329 | €15,262 | -€18,066 | -54.2% |
| Other amounts receivable | 41 | €48,568 | €5,179 | -€43,389 | -89.3% |
| Current investments | 50/53 | €50,000 | €25,000 | -€25,000 | -50.0% |
| Cash at bank and in hand | 54/58 | €61,240 | €142,836 | +€81,596 | +133.2% |
| Deferred charges and accrued income | 490/1 | €1,201 | €0 | -€1,201 | -100.0% |
| Total equity and liabilities | 10/49 | €194,338 | €190,926 | -€3,413 | -1.8% |
| Equity | 10/15 | €189,381 | €182,348 | -€7,033 | -3.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €170,781 | €163,748 | -€7,033 | -4.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €168,921 | €161,888 | -€7,033 | -4.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €4,957 | €8,578 | +€3,621 | +73.0% |
| Amounts payable within one year | 42/48 | €4,957 | €8,578 | +€3,621 | +73.0% |
| Trade debts | 44 | €3,756 | €1,103 | -€2,653 | -70.6% |
| Suppliers | 440/4 | €3,756 | €1,103 | -€2,653 | -70.6% |
| Taxes, remuneration and social security | 45 | €988 | €188 | -€800 | -81.0% |
| Taxes | 450/3 | €988 | €188 | -€800 | -81.0% |
| Other amounts payable | 47/48 | €213 | €7,287 | +€7,074 | +3323.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €530 | +€530 | |
| Other operating charges | 640/8 | €3,961 | €663 | -€3,298 | -83.3% |
| Gross operating margin | 9900 | €5,502 | €1,700 | -€3,802 | -69.1% |
| Operating profit (loss) | 9901 | €1,540 | €507 | -€1,033 | -67.1% |
| Financial income | 75/76B | €4,082 | €2,376 | -€1,706 | -41.8% |
| Recurring financial income | 75 | €4,082 | €2,376 | -€1,706 | -41.8% |
| Financial charges | 65/66B | €29 | €59 | +€31 | +106.1% |
| Recurring financial charges | 65 | €29 | €59 | +€31 | +106.1% |
| Profit (loss) for the period before taxes | 9903 | €5,594 | €2,824 | -€2,770 | -49.5% |
| Income taxes | 67/77 | €1,803 | €1,099 | -€704 | -39.1% |
| Profit (loss) for the period | 9904 | €3,791 | €1,725 | -€2,066 | -54.5% |
| Profit (loss) for the period to be appropriated | 9905 | €3,791 | €1,725 | -€2,066 | -54.5% |
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 6 October 2026 via checked.be.