MR 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.
MR PROJECTS
Largest movements
- Cash +€113,116
up €113,116 (+843.5%), from €13,410 to €126,526
mainly Receivables within one year (+€106,516) and Depreciation (+€86,561)
- Receivables within one year -€106,516
down €106,516 (-54.3%), from €196,049 to €89,532
of which Trade receivables: -€114,130
- Tangible fixed assets -€75,319
down €75,319 (-16.2%), from €464,234 to €388,915
of which Leasing and similar rights: -€39,817
- Stocks and contracts +€13,026
up €13,026 (+94.9%), from €13,725 to €26,751
- Debts after one year -€75,114
down €75,114 (-25.0%), from €300,528 to €225,415
- Trade debts +€33,666
up €33,666 (+45.6%), from €73,815 to €107,481
- Other debts -€13,618
no longer reported in 2025 (was €13,618)
- Staff costs -€105,222
down €105,222 (-29.6%), from €355,508 to €250,286
- Gross operating margin -€51,868
down €51,868 (-12.2%), from €424,645 to €372,777
- Financial charges +€5,666
up €5,666 (+34.2%), from €16,557 to €22,223
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 | €705,276 | €654,503 | -€50,772 | -7.2% |
| Fixed assets | 21/28 | €467,047 | €390,688 | -€76,359 | -16.3% |
| Intangible fixed assets | 21 | €2,813 | €1,773 | -€1,040 | -37.0% |
| Tangible fixed assets | 22/27 | €464,234 | €388,915 | -€75,319 | -16.2% |
| Land and buildings | 22 | €230,929 | €217,629 | -€13,300 | -5.8% |
| Plant, machinery and equipment | 23 | €60,190 | €49,571 | -€10,620 | -17.6% |
| Furniture and vehicles | 24 | €41,568 | €29,986 | -€11,582 | -27.9% |
| Leasing and similar rights | 25 | €131,547 | €91,729 | -€39,817 | -30.3% |
| Current assets | 29/58 | €238,229 | €263,816 | +€25,587 | +10.7% |
| Stocks and contracts in progress | 3 | €13,725 | €26,751 | +€13,026 | +94.9% |
| Stocks | 30/36 | €13,725 | €26,751 | +€13,026 | +94.9% |
| Amounts receivable within one year | 40/41 | €196,049 | €89,532 | -€106,516 | -54.3% |
| Trade receivables | 40 | €170,238 | €56,108 | -€114,130 | -67.0% |
| Other amounts receivable | 41 | €25,810 | €33,424 | +€7,614 | +29.5% |
| Cash at bank and in hand | 54/58 | €13,410 | €126,526 | +€113,116 | +843.5% |
| Deferred charges and accrued income | 490/1 | €15,046 | €21,006 | +€5,961 | +39.6% |
| Total equity and liabilities | 10/49 | €705,276 | €654,503 | -€50,772 | -7.2% |
| Equity | 10/15 | €145,196 | €151,359 | +€6,163 | +4.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €177,776 | €177,776 | = | 0.0% |
| Distributable reserves | 133 | €177,776 | €177,776 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,780 | -€32,617 | +€6,163 | +15.9% |
| Amounts payable | 17/49 | €560,080 | €503,144 | -€56,935 | -10.2% |
| Amounts payable after more than one year | 17 | €300,528 | €225,415 | -€75,114 | -25.0% |
| Financial debts | 170/4 | €300,528 | €225,415 | -€75,114 | -25.0% |
| Amounts payable within one year | 42/48 | €259,551 | €277,730 | +€18,179 | +7.0% |
| Current portion of amounts payable after more than one year | 42 | €75,843 | €75,114 | -€730 | -1.0% |
| Financial debts | 43 | €89,087 | €85,000 | -€4,087 | -4.6% |
| Credit institutions | 430/8 | €89,087 | €85,000 | -€4,087 | -4.6% |
| Trade debts | 44 | €73,815 | €107,481 | +€33,666 | +45.6% |
| Suppliers | 440/4 | €73,815 | €107,481 | +€33,666 | +45.6% |
| Advances received on contracts in progress | 46 | - | €225 | +€225 | |
| Taxes, remuneration and social security | 45 | €7,188 | €9,910 | +€2,721 | +37.9% |
| Taxes | 450/3 | - | €4,787 | +€4,787 | |
| Remuneration and social security | 454/9 | €7,188 | €5,123 | -€2,065 | -28.7% |
| Other amounts payable | 47/48 | €13,618 | - | -€13,618 | |
| Remuneration, social security and pensions | 62 | €355,508 | €250,286 | -€105,222 | -29.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,719 | €86,561 | +€2,842 | +3.4% |
| Other operating charges | 640/8 | €8,281 | €7,048 | -€1,232 | -14.9% |
| Non-recurring operating charges | 66A | - | €937 | +€937 | |
| Gross operating margin | 9900 | €424,645 | €372,777 | -€51,868 | -12.2% |
| Operating profit (loss) | 9901 | -€22,863 | €27,944 | +€50,807 | |
| Financial income | 75/76B | €155 | €976 | +€821 | +530.5% |
| Recurring financial income | 75 | €155 | €976 | +€821 | +530.5% |
| Financial charges | 65/66B | €16,557 | €22,223 | +€5,666 | +34.2% |
| Recurring financial charges | 65 | €16,557 | €22,223 | +€5,666 | +34.2% |
| Profit (loss) for the period before taxes | 9903 | -€39,265 | €6,698 | +€45,963 | |
| Income taxes | 67/77 | €335 | €535 | +€200 | +59.8% |
| Profit (loss) for the period | 9904 | -€39,600 | €6,163 | +€45,763 | |
| Profit (loss) for the period to be appropriated | 9905 | -€39,600 | €6,163 | +€45,763 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.