MRO 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.
MRO PROJECTS
Largest movements
- Receivables within one year +€22,232
up €22,232 (+18.6%), from €119,560 to €141,792
of which Trade receivables: +€22,264
- Cash -€16,543
down €16,543 (-11.6%), from €142,792 to €126,248
mainly Contributions, distributions and other (-€80,000) and Receivables within one year (-€22,232)
- Trade debts +€24,242
up €24,242 (+49.7%), from €48,770 to €73,012
- Other debts -€13,497
down €13,497 (-16.6%), from €81,508 to €68,011
- Tax, wage and social debts -€4,319
down €4,319 (-3.8%), from €112,868 to €108,549
of which Taxes: -€4,737
- Gross operating margin -€30,967
down €30,967 (-19.0%), from €163,072 to €132,105
- Taxes -€4,371
down €4,371 (-14.1%), from €31,031 to €26,660
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 | €265,216 | €268,387 | +€3,171 | +1.2% |
| Fixed assets | 21/28 | €735 | €274 | -€461 | -62.7% |
| Tangible fixed assets | 22/27 | €735 | €274 | -€461 | -62.7% |
| Furniture and vehicles | 24 | €735 | €274 | -€461 | -62.7% |
| Current assets | 29/58 | €264,481 | €268,113 | +€3,632 | +1.4% |
| Amounts receivable within one year | 40/41 | €119,560 | €141,792 | +€22,232 | +18.6% |
| Trade receivables | 40 | €119,528 | €141,792 | +€22,264 | +18.6% |
| Other amounts receivable | 41 | €32 | - | -€32 | |
| Cash at bank and in hand | 54/58 | €142,792 | €126,248 | -€16,543 | -11.6% |
| Deferred charges and accrued income | 490/1 | €2,130 | €74 | -€2,056 | -96.5% |
| Total equity and liabilities | 10/49 | €265,216 | €268,387 | +€3,171 | +1.2% |
| Equity | 10/15 | €22,070 | €18,815 | -€3,255 | -14.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €1,860 | - | -€1,860 | |
| Profit (loss) carried forward | 14 | €1,610 | €215 | -€1,395 | -86.6% |
| Amounts payable | 17/49 | €243,146 | €249,572 | +€6,426 | +2.6% |
| Amounts payable within one year | 42/48 | €243,146 | €249,572 | +€6,426 | +2.6% |
| Trade debts | 44 | €48,770 | €73,012 | +€24,242 | +49.7% |
| Suppliers | 440/4 | €48,770 | €73,012 | +€24,242 | +49.7% |
| Taxes, remuneration and social security | 45 | €112,868 | €108,549 | -€4,319 | -3.8% |
| Taxes | 450/3 | €103,067 | €98,330 | -€4,737 | -4.6% |
| Remuneration and social security | 454/9 | €9,800 | €10,218 | +€418 | +4.3% |
| Other amounts payable | 47/48 | €81,508 | €68,011 | -€13,497 | -16.6% |
| Non-recurring operating income | 76A | €16,449 | - | -€16,449 | |
| Remuneration, social security and pensions | 62 | €23,694 | €24,524 | +€830 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €579 | €461 | -€118 | -20.4% |
| Other operating charges | 640/8 | €1,585 | €804 | -€781 | -49.3% |
| Non-recurring operating charges | 66A | €7,745 | - | -€7,745 | |
| Gross operating margin | 9900 | €163,072 | €132,105 | -€30,967 | -19.0% |
| Operating profit (loss) | 9901 | €129,468 | €106,316 | -€23,152 | -17.9% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €2,543 | €2,911 | +€368 | +14.5% |
| Recurring financial charges | 65 | €2,543 | €2,911 | +€368 | +14.5% |
| Profit (loss) for the period before taxes | 9903 | €126,925 | €103,405 | -€23,520 | -18.5% |
| Income taxes | 67/77 | €31,031 | €26,660 | -€4,371 | -14.1% |
| Profit (loss) for the period | 9904 | €95,895 | €76,745 | -€19,149 | -20.0% |
| Profit (loss) for the period to be appropriated | 9905 | €95,895 | €76,745 | -€19,149 | -20.0% |
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 8 October 2026 via checked.be.