GROUPE MB: 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.
What changed
GROUPE MB
NACE 64.210, Activities of holding companies
financial year 31-12-2025 compared with 31-12-2024filed annual accounts (NBB)
Net result for the year
-€1.7m
31-12-2024 · €37.0m-€38.6m
Equity
€35.4m
31-12-2024 · €37.1m-€1.7m
Cash
€44,826
31-12-2024 · €21,307+€23,519
Balance sheet total
€42.9m
31-12-2024 · €44.8m-€1.9m
Largest movements
Assets
- Intangible fixed assets -€1.1m
down €1.1m (-68.2%), from €1.6m to €513,584
- Receivables within one year -€793,052
down €793,052 (-3.8%), from €20.7m to €20.0m
of which Trade receivables: -€756,804
Equity and liabilities
- Reserves -€1.7m
down €1.7m (-4.5%), from €37.0m to €35.3m
of which Distributable reserves: -€1.7m
Income statement
- Financial income -€35.5m
down €35.5m (-98.6%), from €36.0m to €487,633
- Other operating income -€2.9m
no longer reported in 2025 (was €2.9m)
- Services and other goods +€530,340
up €530,340 (+139%), from €380,332 to €910,672
- Taxes -€452,493
no longer reported in 2025 (was €452,493)
of which Taxes: -€453,451
From the 31-12-2024 result to the 31-12-2025 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.
Result 31-12-2024
€37.0m
Staff costs
+€15,828
Depreciation
+€609
Other operating charges
-€399
Other operating items
-€3.5m
Financial income
-€35.5m
Financial charges
-€101,065
Taxes
+€452,493
Result 31-12-2025
-€1.7m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€23,519
Investment
€0
Financing
€0
Cash 31-12-2024
€21,307
From operations (derived)
+€23,519
Net result for the year
-€1.7m
Depreciation
+€1.1m
Receivables within one year
+€793,052
Smaller working-capital items
-€50
Trade debts
+€80,957
Tax, wage and social debts
-€130,710
Other debts
-€144,855
Cash 31-12-2025
€44,826
brings cash intakes cash out
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €44,798,213 | €42,928,695 | -€1.9m | -4.2% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €24,030,882 | €22,930,882 | -€1.1m | -4.6% |
| Intangible fixed assets | 21 | €1,613,584 | €513,584 | -€1.1m | -68.2% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €22,417,298 | €22,417,298 | = | 0.0% |
| Affiliated companies | 280/1 | €22,417,298 | €22,417,298 | = | 0.0% |
| Participating interests | 280 | €22,417,298 | €22,417,298 | = | 0.0% |
| Current assets | 29/58 | €20,767,330 | €19,997,813 | -€769,517 | -3.7% |
| Amounts receivable within one year | 40/41 | €20,745,203 | €19,952,151 | -€793,052 | -3.8% |
| Trade receivables | 40 | €756,804 | - | -€756,804 | |
| Other amounts receivable | 41 | €19,988,399 | €19,952,151 | -€36,249 | -0.2% |
| Cash at bank and in hand | 54/58 | €21,307 | €44,826 | +€23,519 | +110% |
| Deferred charges and accrued income | 490/1 | €820 | €836 | +€16 | +2.0% |
| Total equity and liabilities | 10/49 | €44,798,213 | €42,928,695 | -€1.9m | -4.2% |
| Equity | 10/15 | €37,113,346 | €35,438,471 | -€1.7m | -4.5% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €37,013,346 | €35,338,471 | -€1.7m | -4.5% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €37,003,346 | €35,328,471 | -€1.7m | -4.5% |
| Amounts payable | 17/49 | €7,684,866 | €7,490,225 | -€194,642 | -2.5% |
| Amounts payable within one year | 42/48 | €7,684,728 | €7,490,120 | -€194,608 | -2.5% |
| Trade debts | 44 | €937 | €81,893 | +€80,957 | +8,644% |
| Suppliers | 440/4 | €937 | €81,893 | +€80,957 | +8,644% |
| Taxes, remuneration and social security | 45 | €135,160 | €4,451 | -€130,710 | -96.7% |
| Taxes | 450/3 | €135,160 | €4,451 | -€130,710 | -96.7% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €7,548,631 | €7,403,776 | -€144,855 | -1.9% |
| Accrued charges and deferred income | 492/3 | €138 | €104 | -€34 | -24.3% |
| Operating income | 70/76A | €2,944,789 | - | -€2.9m | |
| Other operating income | 74 | €2,944,789 | - | -€2.9m | |
| Operating charges | 60/66A | €1,497,349 | €2,011,652 | +€514,303 | +34.3% |
| Services and other goods | 61 | €380,332 | €910,672 | +€530,340 | +139% |
| Remuneration, social security and pensions | 62 | €15,828 | - | -€15,828 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,100,609 | €1,100,000 | -€609 | -0.1% |
| Other operating charges | 640/8 | €580 | €979 | +€399 | +68.8% |
| Operating profit (loss) | 9901 | €1,447,440 | -€2,011,652 | -€3.5m | |
| Financial income | 75/76B | €36,014,215 | €487,633 | -€35.5m | -98.6% |
| Recurring financial income | 75 | €36,014,215 | €487,633 | -€35.5m | -98.6% |
| Income from current assets | 751 | €36,014,215 | €487,633 | -€35.5m | -98.6% |
| Financial charges | 65/66B | €49,792 | €150,857 | +€101,065 | +203% |
| Recurring financial charges | 65 | €49,792 | €150,857 | +€101,065 | +203% |
| Debt charges | 650 | €48,631 | €149,934 | +€101,303 | +208% |
| Other financial charges | 652/9 | €1,161 | €923 | -€238 | -20.5% |
| Profit (loss) for the period before taxes | 9903 | €37,411,863 | -€1,674,876 | -€39.1m | |
| Income taxes | 67/77 | €452,493 | - | -€452,493 | |
| Taxes | 670/3 | €453,451 | - | -€453,451 | |
| Tax adjustments and reversals of tax provisions | 77 | €958 | - | -€958 | |
| Profit (loss) for the period | 9904 | €36,959,370 | -€1,674,876 | -€38.6m | |
| Profit (loss) for the period to be appropriated | 9905 | €36,959,370 | -€1,674,876 | -€38.6m |
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 21 October 2026 via checked.be.