MSBuild & Projects: what changed
MSBuild & Projects
Largest movements
- Receivables within one year +€65,208
up €65,208 (+57.3%), from €113,795 to €179,004
of which Trade receivables: +€60,235
- Cash +€3,745
up €3,745 (+42.9%), from €8,729 to €12,475
mainly Trade debts (+€83,128) and Net result for the year (+€618)
- Trade debts +€83,128
up €83,128 (+725%), from €11,468 to €94,596
- Tax, wage and social debts -€11,530
down €11,530 (-52.0%), from €22,161 to €10,631
- Advances received -€3,600
down €3,600 (-11.6%), from €31,100 to €27,500
- Gross operating margin -€31,437
down €31,437 (-86.2%), from €36,462 to €5,025
- Taxes -€8,343
down €8,343 (-87.9%), from €9,487 to €1,144
- Other operating charges +€1,572
up €1,572 (+165%), from €952 to €2,524
- Financial charges +€483
up €483 (+189%), from €256 to €739
Change in the result, 2023 to 2024
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2023 and 2024 balance sheets and the 2024 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €122,812 | €191,478 | +€68,666 | +55.9% |
| Current assets | 29/58 | €122,812 | €191,478 | +€68,666 | +55.9% |
| Amounts receivable within one year | 40/41 | €113,795 | €179,004 | +€65,208 | +57.3% |
| Trade receivables | 40 | €95,042 | €155,278 | +€60,235 | +63.4% |
| Other amounts receivable | 41 | €18,753 | €23,726 | +€4,973 | +26.5% |
| Cash at bank and in hand | 54/58 | €8,729 | €12,475 | +€3,745 | +42.9% |
| Deferred charges and accrued income | 490/1 | €287 | - | -€287 | |
| Total equity and liabilities | 10/49 | €122,812 | €191,478 | +€68,666 | +55.9% |
| Equity | 10/15 | €58,083 | €58,701 | +€618 | +1.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €27,000 | €27,000 | = | 0.0% |
| Distributable reserves | 133 | €27,000 | €27,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,083 | €26,701 | +€618 | +2.4% |
| Amounts payable | 17/49 | €64,729 | €132,777 | +€68,048 | +105% |
| Amounts payable within one year | 42/48 | €64,729 | €132,777 | +€68,048 | +105% |
| Trade debts | 44 | €11,468 | €94,596 | +€83,128 | +725% |
| Suppliers | 440/4 | €11,468 | €94,596 | +€83,128 | +725% |
| Advances received on contracts in progress | 46 | €31,100 | €27,500 | -€3,600 | -11.6% |
| Taxes, remuneration and social security | 45 | €22,161 | €10,631 | -€11,530 | -52.0% |
| Taxes | 450/3 | €22,161 | €10,631 | -€11,530 | -52.0% |
| Other amounts payable | 47/48 | - | €50 | +€50 | |
| Other operating charges | 640/8 | €952 | €2,524 | +€1,572 | +165% |
| Gross operating margin | 9900 | €36,462 | €5,025 | -€31,437 | -86.2% |
| Operating profit (loss) | 9901 | €35,510 | €2,501 | -€33,009 | -93.0% |
| Financial income | 75/76B | €95 | - | -€95 | |
| Recurring financial income | 75 | €95 | - | -€95 | |
| Financial charges | 65/66B | €256 | €739 | +€483 | +189% |
| Recurring financial charges | 65 | €256 | €739 | +€483 | +189% |
| Profit (loss) for the period before taxes | 9903 | €35,348 | €1,762 | -€33,587 | -95.0% |
| Income taxes | 67/77 | €9,487 | €1,144 | -€8,343 | -87.9% |
| Profit (loss) for the period | 9904 | €25,861 | €618 | -€25,243 | -97.6% |
| Profit (loss) for the period to be appropriated | 9905 | €25,861 | €618 | -€25,243 | -97.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.