EXPLOITATIEMAATSCHAPPIJ MB: 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.
EXPLOITATIEMAATSCHAPPIJ MB
Largest movements
- Cash +€541,674
up €541,674 (+191.9%), from €282,340 to €824,014
mainly Current investments (+€410,000) and Receivables within one year (+€100,274)
- Current investments -€410,000
down €410,000 (-100.0%), from €410,000 to €0
- Receivables within one year -€100,274
down €100,274 (-54.0%), from €185,563 to €85,289
of which Trade receivables: -€103,760
- Other debts +€32,265
up €32,265 (+6.1%), from €526,890 to €559,155
- Tax, wage and social debts -€25,127
down €25,127 (-30.6%), from €82,180 to €57,053
of which Remuneration and social security: -€22,858
- Reserves +€10,711
up €10,711 (+10.3%), from €104,039 to €114,749
of which Distributable reserves: +€10,175
- Gross operating margin -€191,657
down €191,657 (-19.6%), from €979,101 to €787,444
- Other operating charges -€108,890
down €108,890 (-29.5%), from €369,732 to €260,843
- Staff costs -€74,642
down €74,642 (-13.1%), from €571,434 to €496,792
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 | €965,028 | €984,007 | +€18,979 | +2.0% |
| Fixed assets | 21/28 | €47,750 | €42,956 | -€4,794 | -10.0% |
| Tangible fixed assets | 22/27 | €47,750 | €42,956 | -€4,794 | -10.0% |
| Plant, machinery and equipment | 23 | €44,445 | €40,749 | -€3,696 | -8.3% |
| Furniture and vehicles | 24 | €3,305 | €2,207 | -€1,099 | -33.2% |
| Current assets | 29/58 | €917,278 | €941,051 | +€23,773 | +2.6% |
| Stocks and contracts in progress | 3 | €7,678 | €7,168 | -€509 | -6.6% |
| Stocks | 30/36 | €7,678 | €7,168 | -€509 | -6.6% |
| Amounts receivable within one year | 40/41 | €185,563 | €85,289 | -€100,274 | -54.0% |
| Trade receivables | 40 | €160,896 | €57,136 | -€103,760 | -64.5% |
| Other amounts receivable | 41 | €24,667 | €28,152 | +€3,485 | +14.1% |
| Current investments | 50/53 | €410,000 | €0 | -€410,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €282,340 | €824,014 | +€541,674 | +191.9% |
| Deferred charges and accrued income | 490/1 | €31,697 | €24,580 | -€7,118 | -22.5% |
| Total equity and liabilities | 10/49 | €965,028 | €984,007 | +€18,979 | +2.0% |
| Equity | 10/15 | €204,039 | €214,749 | +€10,711 | +5.2% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €104,039 | €114,749 | +€10,711 | +10.3% |
| Non-distributable reserves | 130/1 | €843 | €1,378 | +€536 | +63.5% |
| Reserves not available under the articles | 1311 | €843 | €1,378 | +€536 | +63.5% |
| Distributable reserves | 133 | €103,196 | €113,371 | +€10,175 | +9.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €760,990 | €769,257 | +€8,268 | +1.1% |
| Amounts payable within one year | 42/48 | €760,990 | €769,257 | +€8,268 | +1.1% |
| Trade debts | 44 | €151,919 | €153,048 | +€1,129 | +0.7% |
| Suppliers | 440/4 | €151,919 | €153,048 | +€1,129 | +0.7% |
| Taxes, remuneration and social security | 45 | €82,180 | €57,053 | -€25,127 | -30.6% |
| Taxes | 450/3 | €4,104 | €1,836 | -€2,268 | -55.3% |
| Remuneration and social security | 454/9 | €78,076 | €55,217 | -€22,858 | -29.3% |
| Other amounts payable | 47/48 | €526,890 | €559,155 | +€32,265 | +6.1% |
| Remuneration, social security and pensions | 62 | €571,434 | €496,792 | -€74,642 | -13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,902 | €14,384 | +€4,482 | +45.3% |
| Other operating charges | 640/8 | €369,732 | €260,843 | -€108,890 | -29.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €979,101 | €787,444 | -€191,657 | -19.6% |
| Operating profit (loss) | 9901 | €28,033 | €15,425 | -€12,608 | -45.0% |
| Financial income | 75/76B | €470 | €4,166 | +€3,696 | +785.5% |
| Recurring financial income | 75 | €470 | €4,166 | +€3,696 | +785.5% |
| Financial charges | 65/66B | €1,301 | €2,258 | +€957 | +73.6% |
| Recurring financial charges | 65 | €1,301 | €2,258 | +€957 | +73.6% |
| Profit (loss) for the period before taxes | 9903 | €27,203 | €17,334 | -€9,869 | -36.3% |
| Income taxes | 67/77 | €10,345 | €6,623 | -€3,722 | -36.0% |
| Profit (loss) for the period | 9904 | €16,858 | €10,711 | -€6,147 | -36.5% |
| Profit (loss) for the period to be appropriated | 9905 | €16,858 | €10,711 | -€6,147 | -36.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.