M&B 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.
M&B Projects
Largest movements
- Receivables within one year +€26,039
up €26,039 (+28.7%), from €90,784 to €116,824
of which Trade receivables: +€25,332
- Tangible fixed assets -€19,916
down €19,916 (-3.3%), from €610,260 to €590,344
of which Land and buildings: -€16,482
- Debts after one year -€17,739
down €17,739 (-6.2%), from €286,975 to €269,236
- Trade debts +€12,903
up €12,903 (+47.8%), from €27,002 to €39,904
- Other debts +€11,386
up €11,386 (+2.6%), from €437,120 to €448,506
- Gross operating margin -€30,698
down €30,698 (-62.0%), from €49,501 to €18,803
- Financial income +€13,363
new in 2026: €13,363
of which Non-recurring financial income: +€13,363
- Depreciation +€2,282
up €2,282 (+8.6%), from €26,683 to €28,965
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €703,067 | €707,752 | +€4,685 | +0.7% |
| Fixed assets | 21/28 | €610,260 | €590,344 | -€19,916 | -3.3% |
| Tangible fixed assets | 22/27 | €610,260 | €590,344 | -€19,916 | -3.3% |
| Land and buildings | 22 | €414,021 | €397,539 | -€16,482 | -4.0% |
| Furniture and vehicles | 24 | €1,549 | €2,053 | +€504 | +32.6% |
| Other tangible fixed assets | 26 | €194,690 | €190,753 | -€3,938 | -2.0% |
| Current assets | 29/58 | €92,807 | €117,407 | +€24,601 | +26.5% |
| Amounts receivable within one year | 40/41 | €90,784 | €116,824 | +€26,039 | +28.7% |
| Trade receivables | 40 | €90,598 | €115,930 | +€25,332 | +28.0% |
| Other amounts receivable | 41 | €186 | €894 | +€707 | +379.2% |
| Cash at bank and in hand | 54/58 | €2,023 | €584 | -€1,439 | -71.1% |
| Total equity and liabilities | 10/49 | €703,067 | €707,752 | +€4,685 | +0.7% |
| Equity | 10/15 | -€66,148 | -€67,684 | -€1,537 | -2.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€84,748 | -€86,284 | -€1,537 | -1.8% |
| Amounts payable | 17/49 | €769,215 | €775,436 | +€6,222 | +0.8% |
| Amounts payable after more than one year | 17 | €286,975 | €269,236 | -€17,739 | -6.2% |
| Financial debts | 170/4 | €286,975 | €269,236 | -€17,739 | -6.2% |
| Amounts payable within one year | 42/48 | €482,240 | €506,200 | +€23,960 | +5.0% |
| Current portion of amounts payable after more than one year | 42 | €18,106 | €17,739 | -€367 | -2.0% |
| Trade debts | 44 | €27,002 | €39,904 | +€12,903 | +47.8% |
| Suppliers | 440/4 | €27,002 | €39,904 | +€12,903 | +47.8% |
| Taxes, remuneration and social security | 45 | €13 | €51 | +€39 | +311.0% |
| Taxes | 450/3 | €13 | €51 | +€39 | +311.0% |
| Other amounts payable | 47/48 | €437,120 | €448,506 | +€11,386 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,683 | €28,965 | +€2,282 | +8.6% |
| Other operating charges | 640/8 | €1,917 | €1,977 | +€60 | +3.1% |
| Gross operating margin | 9900 | €49,501 | €18,803 | -€30,698 | -62.0% |
| Operating profit (loss) | 9901 | €20,901 | -€12,139 | -€33,040 | |
| Financial income | 75/76B | - | €13,363 | +€13,363 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Non-recurring financial income | 76B | - | €13,363 | +€13,363 | |
| Financial charges | 65/66B | €3,110 | €2,760 | -€350 | -11.3% |
| Recurring financial charges | 65 | €3,110 | €2,760 | -€350 | -11.3% |
| Profit (loss) for the period before taxes | 9903 | €17,791 | -€1,537 | -€19,327 | |
| Profit (loss) for the period | 9904 | €17,791 | -€1,537 | -€19,327 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,791 | -€1,537 | -€19,327 |
Source: filed annual accounts (NBB), fiscal years ended 28 February 2025 and 28 February 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.