DR. MB. LENDERS: 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.
DR. MB. LENDERS
Largest movements
- Receivables within one year -€120,550
down €120,550 (-45.4%), from €265,672 to €145,122
of which Other amounts receivable: -€120,460
- Cash +€84,020
up €84,020 (+64.0%), from €131,352 to €215,373
mainly Receivables within one year (+€120,550) and Net result for the year (+€108,936)
- Provisions -€56,400
down €56,400 (-63.2%), from €89,300 to €32,900
- Reserves +€35,923
up €35,923 (+14.4%), from €248,940 to €284,863
of which Distributable reserves: +€36,889
- Other debts -€13,828
down €13,828 (-16.6%), from €83,190 to €69,362
- Gross operating margin +€11,325
up €11,325 (+6.5%), from €173,602 to €184,927
- Depreciation +€4,376
up €4,376 (+108%), from €4,051 to €8,428
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 | €460,491 | €427,290 | -€33,201 | -7.2% |
| Fixed assets | 21/28 | €20,504 | €22,899 | +€2,395 | +11.7% |
| Tangible fixed assets | 22/27 | €20,504 | €22,899 | +€2,395 | +11.7% |
| Land and buildings | 22 | €3,538 | €7,414 | +€3,876 | +110% |
| Plant, machinery and equipment | 23 | €8,270 | €7,740 | -€529 | -6.4% |
| Furniture and vehicles | 24 | €5,896 | €4,945 | -€951 | -16.1% |
| Other tangible fixed assets | 26 | €2,800 | €2,800 | = | 0.0% |
| Current assets | 29/58 | €439,987 | €404,391 | -€35,596 | -8.1% |
| Amounts receivable within one year | 40/41 | €265,672 | €145,122 | -€120,550 | -45.4% |
| Trade receivables | 40 | €90 | - | -€90 | |
| Other amounts receivable | 41 | €265,582 | €145,122 | -€120,460 | -45.4% |
| Cash at bank and in hand | 54/58 | €131,352 | €215,373 | +€84,020 | +64.0% |
| Deferred charges and accrued income | 490/1 | €42,963 | €43,896 | +€933 | +2.2% |
| Total equity and liabilities | 10/49 | €460,491 | €427,290 | -€33,201 | -7.2% |
| Equity | 10/15 | €267,540 | €303,463 | +€35,923 | +13.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €248,940 | €284,863 | +€35,923 | +14.4% |
| Tax-exempt reserves | 132 | €966 | - | -€966 | |
| Distributable reserves | 133 | €247,974 | €284,863 | +€36,889 | +14.9% |
| Provisions and deferred taxes | 16 | €89,300 | €32,900 | -€56,400 | -63.2% |
| Provisions for liabilities and charges | 160/5 | €89,300 | €32,900 | -€56,400 | -63.2% |
| Other liabilities and charges | 164/5 | €89,300 | €32,900 | -€56,400 | -63.2% |
| Amounts payable | 17/49 | €103,651 | €90,927 | -€12,725 | -12.3% |
| Amounts payable within one year | 42/48 | €103,651 | €90,527 | -€13,124 | -12.7% |
| Trade debts | 44 | €7,751 | €9,818 | +€2,067 | +26.7% |
| Suppliers | 440/4 | €7,751 | €9,818 | +€2,067 | +26.7% |
| Taxes, remuneration and social security | 45 | €12,710 | €11,347 | -€1,363 | -10.7% |
| Taxes | 450/3 | €9,208 | €7,759 | -€1,449 | -15.7% |
| Remuneration and social security | 454/9 | €3,503 | €3,588 | +€86 | +2.4% |
| Other amounts payable | 47/48 | €83,190 | €69,362 | -€13,828 | -16.6% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Non-recurring operating income | 76A | - | €15,300 | +€15,300 | |
| Remuneration, social security and pensions | 62 | €27,598 | €27,613 | +€15 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,051 | €8,428 | +€4,376 | +108% |
| Other operating charges | 640/8 | €771 | €795 | +€24 | +3.1% |
| Gross operating margin | 9900 | €173,602 | €184,927 | +€11,325 | +6.5% |
| Operating profit (loss) | 9901 | €141,181 | €148,090 | +€6,909 | +4.9% |
| Financial income | 75/76B | €12,050 | €10,635 | -€1,415 | -11.7% |
| Recurring financial income | 75 | €12,050 | €10,635 | -€1,415 | -11.7% |
| Financial charges | 65/66B | €2,407 | €3,181 | +€775 | +32.2% |
| Recurring financial charges | 65 | €2,407 | €3,181 | +€775 | +32.2% |
| Profit (loss) for the period before taxes | 9903 | €150,824 | €155,544 | +€4,720 | +3.1% |
| Income taxes | 67/77 | €44,987 | €46,608 | +€1,621 | +3.6% |
| Profit (loss) for the period | 9904 | €105,837 | €108,936 | +€3,099 | +2.9% |
| Transfer from tax-exempt reserves | 789 | - | €966 | +€966 | |
| Profit (loss) for the period to be appropriated | 9905 | €105,837 | €109,902 | +€4,065 | +3.8% |
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 27 October 2026 via checked.be.