MXL PROJECTS: 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.
MXL PROJECTS
Largest movements
- Tangible fixed assets -€22,300
down €22,300 (-2.0%), from €1.1m to €1.1m
of which Land and buildings: -€21,820
- Cash +€22,103
up €22,103 (+40.5%), from €54,624 to €76,726
mainly Net result for the year (+€73,856) and Depreciation (+€36,449)
- Reserves +€94,339
up €94,339 (+61.2%), from €154,156 to €248,496
- Profit (loss) carried forward -€80,484
no longer reported in 2025 (was €80,484)
- Debts after one year -€54,394
down €54,394 (-6.6%), from €826,969 to €772,575
- Current portion of long-term debt +€21,177
up €21,177 (+39.8%), from €53,217 to €74,394
- Other debts +€16,984
up €16,984 (+170.5%), from €9,961 to €26,946
- Gross operating margin +€9,665
up €9,665 (+6.6%), from €147,259 to €156,925
- Depreciation +€7,854
up €7,854 (+27.5%), from €28,595 to €36,449
- Other operating charges +€6,828
up €6,828 (+1351.2%), from €505 to €7,333
- Financial income -€3,356
no longer reported in 2025 (was €3,356)
- Taxes -€2,858
down €2,858 (-12.9%), from €22,173 to €19,315
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 | €1,181,185 | €1,183,834 | +€2,649 | +0.2% |
| Fixed assets | 21/28 | €1,126,213 | €1,103,913 | -€22,300 | -2.0% |
| Tangible fixed assets | 22/27 | €1,126,213 | €1,103,913 | -€22,300 | -2.0% |
| Land and buildings | 22 | €1,125,174 | €1,103,354 | -€21,820 | -1.9% |
| Furniture and vehicles | 24 | €1,039 | €559 | -€480 | -46.2% |
| Current assets | 29/58 | €54,972 | €79,922 | +€24,950 | +45.4% |
| Amounts receivable within one year | 40/41 | - | €3,195 | +€3,195 | |
| Trade receivables | 40 | - | €2,500 | +€2,500 | |
| Other amounts receivable | 41 | - | €695 | +€695 | |
| Cash at bank and in hand | 54/58 | €54,624 | €76,726 | +€22,103 | +40.5% |
| Deferred charges and accrued income | 490/1 | €348 | - | -€348 | |
| Total equity and liabilities | 10/49 | €1,181,185 | €1,183,834 | +€2,649 | +0.2% |
| Equity | 10/15 | €244,640 | €258,496 | +€13,856 | +5.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €154,156 | €248,496 | +€94,339 | +61.2% |
| Distributable reserves | 133 | €154,156 | €248,496 | +€94,339 | +61.2% |
| Profit (loss) carried forward | 14 | €80,484 | - | -€80,484 | |
| Amounts payable | 17/49 | €936,545 | €925,338 | -€11,207 | -1.2% |
| Amounts payable after more than one year | 17 | €826,969 | €772,575 | -€54,394 | -6.6% |
| Financial debts | 170/4 | €826,969 | €772,575 | -€54,394 | -6.6% |
| Amounts payable within one year | 42/48 | €109,226 | €152,413 | +€43,187 | +39.5% |
| Current portion of amounts payable after more than one year | 42 | €53,217 | €74,394 | +€21,177 | +39.8% |
| Trade debts | 44 | - | €7,621 | +€7,621 | |
| Suppliers | 440/4 | - | €7,621 | +€7,621 | |
| Taxes, remuneration and social security | 45 | €46,048 | €43,453 | -€2,595 | -5.6% |
| Taxes | 450/3 | €46,048 | €43,453 | -€2,595 | -5.6% |
| Other amounts payable | 47/48 | €9,961 | €26,946 | +€16,984 | +170.5% |
| Accrued charges and deferred income | 492/3 | €350 | €350 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,595 | €36,449 | +€7,854 | +27.5% |
| Other operating charges | 640/8 | €505 | €7,333 | +€6,828 | +1351.2% |
| Gross operating margin | 9900 | €147,259 | €156,925 | +€9,665 | +6.6% |
| Operating profit (loss) | 9901 | €118,159 | €113,142 | -€5,017 | -4.2% |
| Financial income | 75/76B | €3,356 | - | -€3,356 | |
| Recurring financial income | 75 | €3,356 | - | -€3,356 | |
| Financial charges | 65/66B | €18,858 | €19,972 | +€1,113 | +5.9% |
| Recurring financial charges | 65 | €18,858 | €19,972 | +€1,113 | +5.9% |
| Profit (loss) for the period before taxes | 9903 | €102,656 | €93,170 | -€9,486 | -9.2% |
| Income taxes | 67/77 | €22,173 | €19,315 | -€2,858 | -12.9% |
| Profit (loss) for the period | 9904 | €80,484 | €73,856 | -€6,628 | -8.2% |
| Profit (loss) for the period to be appropriated | 9905 | €80,484 | €73,856 | -€6,628 | -8.2% |
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 10 October 2026 via checked.be.