MW & D 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.
MW & D PROJECTS
Largest movements
- Receivables within one year -€7,931
down €7,931 (-47.0%), from €16,862 to €8,931
of which Trade receivables: -€9,583
- Cash -€2,503
down €2,503 (-4.6%), from €54,510 to €52,007
mainly Debts after one year (-€21,500) and Tax, wage and social debts (-€3,193)
- Debts after one year -€21,500
down €21,500 (-99.9%), from €21,520 to €20
of which Financial debts: -€21,500
- Profit (loss) carried forward +€8,076
up €8,076 (+45.0%), from €17,950 to €26,026
- Other debts +€5,850
up €5,850 (+56.5%), from €10,357 to €16,207
- Tax, wage and social debts -€3,193
down €3,193 (-70.6%), from €4,524 to €1,330
- Write-downs -€30,461
down €30,461 (-100.0%), from €30,461 to €0
- Gross operating margin -€24,907
down €24,907 (-63.8%), from €39,019 to €14,113
- Taxes +€1,961
up €1,961 (+165.5%), from €1,185 to €3,146
- Depreciation -€1,476
down €1,476 (-41.1%), from €3,593 to €2,117
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 | €74,401 | €64,363 | -€10,038 | -13.5% |
| Fixed assets | 21/28 | €3,015 | €3,092 | +€77 | +2.6% |
| Tangible fixed assets | 22/27 | €3,015 | €3,092 | +€77 | +2.6% |
| Plant, machinery and equipment | 23 | €1,298 | €3,092 | +€1,794 | +138.1% |
| Furniture and vehicles | 24 | €1,717 | €0 | -€1,717 | -100.0% |
| Current assets | 29/58 | €71,386 | €61,271 | -€10,115 | -14.2% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €16,862 | €8,931 | -€7,931 | -47.0% |
| Trade receivables | 40 | €16,862 | €7,279 | -€9,583 | -56.8% |
| Other amounts receivable | 41 | - | €1,652 | +€1,652 | |
| Cash at bank and in hand | 54/58 | €54,510 | €52,007 | -€2,503 | -4.6% |
| Deferred charges and accrued income | 490/1 | €14 | €333 | +€320 | +2323.9% |
| Total equity and liabilities | 10/49 | €74,401 | €64,363 | -€10,038 | -13.5% |
| Equity | 10/15 | €36,500 | €44,576 | +€8,076 | +22.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,950 | €26,026 | +€8,076 | +45.0% |
| Amounts payable | 17/49 | €37,901 | €19,787 | -€18,114 | -47.8% |
| Amounts payable after more than one year | 17 | €21,520 | €20 | -€21,500 | -99.9% |
| Financial debts | 170/4 | €21,500 | €0 | -€21,500 | -100.0% |
| Other amounts payable | 178/9 | €20 | €20 | = | 0.0% |
| Amounts payable within one year | 42/48 | €14,881 | €18,267 | +€3,386 | +22.8% |
| Trade debts | 44 | €0 | €730 | +€730 | |
| Suppliers | 440/4 | €0 | €730 | +€730 | |
| Taxes, remuneration and social security | 45 | €4,524 | €1,330 | -€3,193 | -70.6% |
| Taxes | 450/3 | €4,524 | €1,330 | -€3,193 | -70.6% |
| Other amounts payable | 47/48 | €10,357 | €16,207 | +€5,850 | +56.5% |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,593 | €2,117 | -€1,476 | -41.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €30,461 | €0 | -€30,461 | -100.0% |
| Other operating charges | 640/8 | €867 | €703 | -€164 | -18.9% |
| Gross operating margin | 9900 | €39,019 | €14,113 | -€24,907 | -63.8% |
| Operating profit (loss) | 9901 | €4,099 | €11,293 | +€7,193 | +175.5% |
| Financial income | 75/76B | - | €43 | +€43 | |
| Recurring financial income | 75 | - | €43 | +€43 | |
| Financial charges | 65/66B | €42 | €114 | +€71 | +169.2% |
| Recurring financial charges | 65 | €42 | €114 | +€71 | +169.2% |
| Profit (loss) for the period before taxes | 9903 | €4,057 | €11,222 | +€7,165 | +176.6% |
| Income taxes | 67/77 | €1,185 | €3,146 | +€1,961 | +165.5% |
| Profit (loss) for the period | 9904 | €2,872 | €8,076 | +€5,204 | +181.2% |
| Profit (loss) for the period to be appropriated | 9905 | €2,872 | €8,076 | +€5,204 | +181.2% |
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 29 September 2026 via checked.be.