DR. MUBAGWA: what changed
DR. MUBAGWA
Largest movements
- Receivables within one year +€85,315
new in 2025: €85,315
- Receivables after one year -€81,530
down €81,530 (-97.2%), from €83,922 to €2,392
- Cash -€4,648
down €4,648 (-44.4%), from €10,460 to €5,812
mainly Receivables within one year (-€85,315) and Net result for the year (-€648)
No liability line moved by more than 1% of the balance sheet total.
- Financial income -€1,233
down €1,233 (-91.5%), from €1,347 to €114
- Gross operating margin +€579
up €579 (+65.7%), from -€882 to -€302
- Other operating charges -€113
down €113 (-22.1%), from €513 to €400
- Financial charges -€19
down €19 (-24.2%), from €79 to €60
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €94,381 | €93,518 | -€863 | -0.9% |
| Current assets | 29/58 | €94,381 | €93,518 | -€863 | -0.9% |
| Amounts receivable after more than one year | 29 | €83,922 | €2,392 | -€81,530 | -97.2% |
| Other amounts receivable | 291 | €83,922 | €2,392 | -€81,530 | -97.2% |
| Amounts receivable within one year | 40/41 | - | €85,315 | +€85,315 | |
| Other amounts receivable | 41 | - | €85,315 | +€85,315 | |
| Cash at bank and in hand | 54/58 | €10,460 | €5,812 | -€4,648 | -44.4% |
| Total equity and liabilities | 10/49 | €94,381 | €93,518 | -€863 | -0.9% |
| Equity | 10/15 | €93,966 | €93,318 | -€648 | -0.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €81,566 | €80,918 | -€648 | -0.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €79,706 | €79,058 | -€648 | -0.8% |
| Amounts payable | 17/49 | €416 | €200 | -€216 | -51.9% |
| Amounts payable within one year | 42/48 | €416 | €200 | -€216 | -51.9% |
| Trade debts | 44 | €416 | €200 | -€216 | -51.9% |
| Suppliers | 440/4 | €416 | €200 | -€216 | -51.9% |
| Other operating charges | 640/8 | €513 | €400 | -€113 | -22.1% |
| Gross operating margin | 9900 | -€882 | -€302 | +€579 | +65.7% |
| Operating profit (loss) | 9901 | -€1,395 | -€702 | +€693 | +49.7% |
| Financial income | 75/76B | €1,347 | €114 | -€1,233 | -91.5% |
| Recurring financial income | 75 | €1,347 | €114 | -€1,233 | -91.5% |
| Financial charges | 65/66B | €79 | €60 | -€19 | -24.2% |
| Recurring financial charges | 65 | €79 | €60 | -€19 | -24.2% |
| Profit (loss) for the period before taxes | 9903 | -€126 | -€648 | -€521 | -412% |
| Profit (loss) for the period | 9904 | -€126 | -€648 | -€521 | -412% |
| Profit (loss) for the period to be appropriated | 9905 | -€126 | -€648 | -€521 | -412% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.