MW PROJECT SOLUTIONS: 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.
MW PROJECT SOLUTIONS
Largest movements
- Tangible fixed assets -€12,927
down €12,927 (-29.6%), from €43,631 to €30,704
of which Furniture and vehicles: -€11,345
- Deferred charges and accrued income +€10,092
up €10,092 (+530%), from €1,904 to €11,996
- Cash +€2,095
up €2,095 (+13.7%), from €15,252 to €17,346
mainly Depreciation (+€12,927) and Net result for the year (+€4,420)
- Receivables within one year -€1,979
down €1,979 (-8.1%), from €24,564 to €22,585
of which Trade receivables: -€9,309
- Debts after one year -€10,684
down €10,684 (-41.8%), from €25,584 to €14,900
- Tax, wage and social debts +€3,620
up €3,620 (+32.7%), from €11,067 to €14,687
- Reserves +€3,587
up €3,587 (+10.3%), from €34,670 to €38,256
- Trade debts +€2,092
up €2,092 (+606%), from €345 to €2,438
- Other debts -€1,733
down €1,733 (-67.5%), from €2,566 to €833
- Gross operating margin -€11,601
down €11,601 (-33.3%), from €34,869 to €23,268
- Depreciation +€4,457
up €4,457 (+52.6%), from €8,469 to €12,927
- Taxes -€2,795
down €2,795 (-54.8%), from €5,102 to €2,306
- Financial charges -€420
down €420 (-12.6%), from €3,339 to €2,919
- Financial income +€387
new in 2025: €387
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 | €85,921 | €83,202 | -€2,719 | -3.2% |
| Fixed assets | 21/28 | €44,201 | €31,274 | -€12,927 | -29.2% |
| Tangible fixed assets | 22/27 | €43,631 | €30,704 | -€12,927 | -29.6% |
| Plant, machinery and equipment | 23 | €3,686 | €2,286 | -€1,400 | -38.0% |
| Furniture and vehicles | 24 | €38,327 | €26,982 | -€11,345 | -29.6% |
| Other tangible fixed assets | 26 | €1,618 | €1,437 | -€182 | -11.2% |
| Financial fixed assets | 28 | €570 | €570 | = | 0.0% |
| Current assets | 29/58 | €41,720 | €51,928 | +€10,208 | +24.5% |
| Amounts receivable within one year | 40/41 | €24,564 | €22,585 | -€1,979 | -8.1% |
| Trade receivables | 40 | €24,564 | €15,256 | -€9,309 | -37.9% |
| Other amounts receivable | 41 | - | €7,330 | +€7,330 | |
| Cash at bank and in hand | 54/58 | €15,252 | €17,346 | +€2,095 | +13.7% |
| Deferred charges and accrued income | 490/1 | €1,904 | €11,996 | +€10,092 | +530% |
| Total equity and liabilities | 10/49 | €85,921 | €83,202 | -€2,719 | -3.2% |
| Equity | 10/15 | €35,670 | €39,256 | +€3,587 | +10.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €34,670 | €38,256 | +€3,587 | +10.3% |
| Distributable reserves | 133 | €34,670 | €38,256 | +€3,587 | +10.3% |
| Amounts payable | 17/49 | €50,251 | €43,946 | -€6,305 | -12.5% |
| Amounts payable after more than one year | 17 | €25,584 | €14,900 | -€10,684 | -41.8% |
| Financial debts | 170/4 | €25,584 | €14,900 | -€10,684 | -41.8% |
| Amounts payable within one year | 42/48 | €24,259 | €28,642 | +€4,383 | +18.1% |
| Current portion of amounts payable after more than one year | 42 | €10,281 | €10,684 | +€403 | +3.9% |
| Trade debts | 44 | €345 | €2,438 | +€2,092 | +606% |
| Suppliers | 440/4 | €345 | €2,438 | +€2,092 | +606% |
| Taxes, remuneration and social security | 45 | €11,067 | €14,687 | +€3,620 | +32.7% |
| Taxes | 450/3 | €11,067 | €14,687 | +€3,620 | +32.7% |
| Other amounts payable | 47/48 | €2,566 | €833 | -€1,733 | -67.5% |
| Accrued charges and deferred income | 492/3 | €408 | €404 | -€4 | -0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,469 | €12,927 | +€4,457 | +52.6% |
| Other operating charges | 640/8 | €1,183 | €1,083 | -€100 | -8.4% |
| Gross operating margin | 9900 | €34,869 | €23,268 | -€11,601 | -33.3% |
| Operating profit (loss) | 9901 | €25,217 | €9,258 | -€15,958 | -63.3% |
| Financial income | 75/76B | - | €387 | +€387 | |
| Recurring financial income | 75 | - | €387 | +€387 | |
| Financial charges | 65/66B | €3,339 | €2,919 | -€420 | -12.6% |
| Recurring financial charges | 65 | €3,339 | €2,919 | -€420 | -12.6% |
| Profit (loss) for the period before taxes | 9903 | €21,878 | €6,726 | -€15,152 | -69.3% |
| Income taxes | 67/77 | €5,102 | €2,306 | -€2,795 | -54.8% |
| Profit (loss) for the period | 9904 | €16,776 | €4,420 | -€12,357 | -73.7% |
| Profit (loss) for the period to be appropriated | 9905 | €16,776 | €4,420 | -€12,357 | -73.7% |
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 14 October 2026 via checked.be.