Mouton 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.
Mouton Projects
Largest movements
- Tangible fixed assets +€1.1m
up €1.1m (+45.2%), from €2.4m to €3.6m
of which Land and buildings: +€987,321
- Stocks and contracts +€337,756
new in 2025: €337,756
- Receivables within one year -€98,335
down €98,335 (-83.4%), from €117,912 to €19,577
of which Trade receivables: -€72,765
- Cash +€65,116
up €65,116 (+9,373%), from €695 to €65,811
mainly Debts after one year (+€860,431) and Short-term financial debts (+€300,000)
- Debts after one year +€860,431
up €860,431 (+48.4%), from €1.8m to €2.6m
- Short-term financial debts +€300,000
new in 2025: €300,000
- Reserves +€127,922
up €127,922 (+52.9%), from €241,911 to €369,833
- Other debts +€77,691
up €77,691 (+26.2%), from €296,370 to €374,061
- Current portion of long-term debt +€61,598
up €61,598 (+49.7%), from €123,867 to €185,465
- Gross operating margin +€162,877
up €162,877 (+66.0%), from €246,828 to €409,705
- Depreciation +€28,793
up €28,793 (+21.1%), from €136,762 to €165,555
- Taxes +€20,850
up €20,850 (+196%), from €10,625 to €31,474
- Financial charges +€17,098
up €17,098 (+29.9%), from €57,220 to €74,318
- Other operating charges +€4,726
up €4,726 (+56.5%), from €8,359 to €13,086
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 | €2,594,679 | €4,006,776 | +€1.4m | +54.4% |
| Fixed assets | 21/28 | €2,449,806 | €3,556,631 | +€1.1m | +45.2% |
| Tangible fixed assets | 22/27 | €2,449,706 | €3,556,531 | +€1.1m | +45.2% |
| Land and buildings | 22 | €2,432,865 | €3,420,187 | +€987,321 | +40.6% |
| Plant, machinery and equipment | 23 | €16,840 | €135,261 | +€118,421 | +703% |
| Furniture and vehicles | 24 | - | €1,083 | +€1,083 | |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €144,873 | €450,146 | +€305,272 | +211% |
| Stocks and contracts in progress | 3 | - | €337,756 | +€337,756 | |
| Stocks | 30/36 | - | €337,756 | +€337,756 | |
| Amounts receivable within one year | 40/41 | €117,912 | €19,577 | -€98,335 | -83.4% |
| Trade receivables | 40 | €77,638 | €4,873 | -€72,765 | -93.7% |
| Other amounts receivable | 41 | €40,274 | €14,704 | -€25,570 | -63.5% |
| Current investments | 50/53 | €25,000 | €25,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €695 | €65,811 | +€65,116 | +9,373% |
| Deferred charges and accrued income | 490/1 | €1,267 | €2,002 | +€735 | +58.1% |
| Total equity and liabilities | 10/49 | €2,594,679 | €4,006,776 | +€1.4m | +54.4% |
| Equity | 10/15 | €341,999 | €469,922 | +€127,922 | +37.4% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €241,911 | €369,833 | +€127,922 | +52.9% |
| Distributable reserves | 133 | €241,911 | €369,833 | +€127,922 | +52.9% |
| Profit (loss) carried forward | 14 | €88 | €88 | = | 0.0% |
| Amounts payable | 17/49 | €2,252,680 | €3,536,855 | +€1.3m | +57.0% |
| Amounts payable after more than one year | 17 | €1,778,405 | €2,638,836 | +€860,431 | +48.4% |
| Financial debts | 170/4 | €1,778,405 | €2,638,836 | +€860,431 | +48.4% |
| Amounts payable within one year | 42/48 | €474,275 | €892,769 | +€418,494 | +88.2% |
| Current portion of amounts payable after more than one year | 42 | €123,867 | €185,465 | +€61,598 | +49.7% |
| Financial debts | 43 | - | €300,000 | +€300,000 | |
| Credit institutions | 430/8 | - | €300,000 | +€300,000 | |
| Trade debts | 44 | €53,034 | €17,753 | -€35,281 | -66.5% |
| Suppliers | 440/4 | €53,034 | €17,753 | -€35,281 | -66.5% |
| Taxes, remuneration and social security | 45 | €1,004 | €15,490 | +€14,486 | +1,443% |
| Taxes | 450/3 | €1,004 | €15,490 | +€14,486 | +1,443% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €296,370 | €374,061 | +€77,691 | +26.2% |
| Accrued charges and deferred income | 492/3 | €0 | €5,250 | +€5,250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €136,762 | €165,555 | +€28,793 | +21.1% |
| Other operating charges | 640/8 | €8,359 | €13,086 | +€4,726 | +56.5% |
| Gross operating margin | 9900 | €246,828 | €409,705 | +€162,877 | +66.0% |
| Operating profit (loss) | 9901 | €101,706 | €231,063 | +€129,357 | +127% |
| Financial income | 75/76B | €1,892 | €2,651 | +€759 | +40.1% |
| Recurring financial income | 75 | €1,892 | €2,651 | +€759 | +40.1% |
| Financial charges | 65/66B | €57,220 | €74,318 | +€17,098 | +29.9% |
| Recurring financial charges | 65 | €57,220 | €74,318 | +€17,098 | +29.9% |
| Profit (loss) for the period before taxes | 9903 | €46,378 | €159,397 | +€113,018 | +244% |
| Income taxes | 67/77 | €10,625 | €31,474 | +€20,850 | +196% |
| Profit (loss) for the period | 9904 | €35,754 | €127,922 | +€92,169 | +258% |
| Profit (loss) for the period to be appropriated | 9905 | €35,754 | €127,922 | +€92,169 | +258% |
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 15 October 2026 via checked.be.