MNS Projects: 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.
MNS Projects
Largest movements
- Financial fixed assets +€43,900
new in 2025: €43,900
- Receivables within one year +€20,732
up €20,732 (+1,257%), from €1,650 to €22,381
of which Trade receivables: +€20,718
- Deferred charges and accrued income +€3,748
up €3,748 (+15.6%), from €24,078 to €27,826
- Debts after one year +€19,634
new in 2025: €19,634
- Other debts +€18,491
up €18,491 (+46.8%), from €39,480 to €57,971
- Reserves +€17,598
new in 2025: €17,598
- Profit (loss) carried forward -€17,097
down €17,097 (-100%), from €17,097 to €0
- Advances received +€13,788
new in 2025: €13,788
- Gross operating margin -€6,161
down €6,161 (-26.3%), from €23,438 to €17,277
- Depreciation +€5,187
up €5,187 (+138%), from €3,759 to €8,947
- Other operating charges +€1,245
up €1,245 (+53.5%), from €2,328 to €3,573
- Taxes -€1,209
down €1,209 (-41.5%), from €2,915 to €1,706
- Financial charges +€753
up €753 (+49.6%), from €1,517 to €2,270
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 | €77,193 | €144,316 | +€67,123 | +87.0% |
| Fixed assets | 21/28 | €51,465 | €94,109 | +€42,644 | +82.9% |
| Tangible fixed assets | 22/27 | €51,465 | €50,209 | -€1,256 | -2.4% |
| Plant, machinery and equipment | 23 | €3,659 | €1,709 | -€1,950 | -53.3% |
| Furniture and vehicles | 24 | €42,367 | €43,763 | +€1,397 | +3.3% |
| Other tangible fixed assets | 26 | €5,440 | €4,736 | -€703 | -12.9% |
| Financial fixed assets | 28 | - | €43,900 | +€43,900 | |
| Current assets | 29/58 | €25,728 | €50,207 | +€24,479 | +95.1% |
| Amounts receivable within one year | 40/41 | €1,650 | €22,381 | +€20,732 | +1,257% |
| Trade receivables | 40 | €1,650 | €22,368 | +€20,718 | +1,256% |
| Other amounts receivable | 41 | - | €13 | +€13 | |
| Cash at bank and in hand | 54/58 | €0 | - | = | |
| Deferred charges and accrued income | 490/1 | €24,078 | €27,826 | +€3,748 | +15.6% |
| Total equity and liabilities | 10/49 | €77,193 | €144,316 | +€67,123 | +87.0% |
| Equity | 10/15 | €19,597 | €20,098 | +€501 | +2.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | - | €17,598 | +€17,598 | |
| Distributable reserves | 133 | - | €17,598 | +€17,598 | |
| Profit (loss) carried forward | 14 | €17,097 | €0 | -€17,097 | -100% |
| Amounts payable | 17/49 | €57,596 | €124,218 | +€66,622 | +116% |
| Amounts payable after more than one year | 17 | - | €19,634 | +€19,634 | |
| Financial debts | 170/4 | - | €19,634 | +€19,634 | |
| Amounts payable within one year | 42/48 | €57,596 | €104,584 | +€46,988 | +81.6% |
| Current portion of amounts payable after more than one year | 42 | - | €13,192 | +€13,192 | |
| Financial debts | 43 | €6,586 | €1,633 | -€4,953 | -75.2% |
| Credit institutions | 430/8 | €6,586 | €1,633 | -€4,953 | -75.2% |
| Trade debts | 44 | €1,879 | €4,985 | +€3,106 | +165% |
| Suppliers | 440/4 | €1,879 | €4,985 | +€3,106 | +165% |
| Advances received on contracts in progress | 46 | - | €13,788 | +€13,788 | |
| Taxes, remuneration and social security | 45 | €9,651 | €13,016 | +€3,365 | +34.9% |
| Taxes | 450/3 | €9,651 | €11,566 | +€1,915 | +19.8% |
| Remuneration and social security | 454/9 | - | €1,450 | +€1,450 | |
| Other amounts payable | 47/48 | €39,480 | €57,971 | +€18,491 | +46.8% |
| Remuneration, social security and pensions | 62 | - | €292 | +€292 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,759 | €8,947 | +€5,187 | +138% |
| Other operating charges | 640/8 | €2,328 | €3,573 | +€1,245 | +53.5% |
| Non-recurring operating charges | 66A | €0 | €0 | +€0 | |
| Gross operating margin | 9900 | €23,438 | €17,277 | -€6,161 | -26.3% |
| Operating profit (loss) | 9901 | €17,351 | €4,465 | -€12,885 | -74.3% |
| Financial income | 75/76B | €91 | €11 | -€79 | -87.4% |
| Recurring financial income | 75 | €91 | €11 | -€79 | -87.4% |
| Financial charges | 65/66B | €1,517 | €2,270 | +€753 | +49.6% |
| Recurring financial charges | 65 | €1,517 | €2,270 | +€753 | +49.6% |
| Profit (loss) for the period before taxes | 9903 | €15,924 | €2,207 | -€13,717 | -86.1% |
| Income taxes | 67/77 | €2,915 | €1,706 | -€1,209 | -41.5% |
| Profit (loss) for the period | 9904 | €13,009 | €501 | -€12,508 | -96.1% |
| Profit (loss) for the period to be appropriated | 9905 | €13,009 | €501 | -€12,508 | -96.1% |
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 14 October 2026 via checked.be.