M&B: 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
Largest movements
- Receivables within one year -€1,336
down €1,336 (-1.9%), from €72,066 to €70,730
of which Other amounts receivable: -€1,165
- Cash -€1,087
down €1,087 (-63.2%), from €1,718 to €632
mainly Net result for the year (-€2,157) and Tax, wage and social debts (-€320)
- Profit (loss) carried forward -€2,157
down €2,157 (-5.1%), from €42,121 to €39,963
- Gross operating margin -€2,292
down €2,292 (-83.3%), from €2,751 to €459
- Depreciation +€189
up €189 (+245.3%), from €77 to €267
- Financial charges -€142
down €142 (-6.7%), from €2,105 to €1,964
- Financial income +€70
up €70 (+1242.9%), from €6 to €75
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 | €76,972 | €74,420 | -€2,553 | -3.3% |
| Fixed assets | 21/28 | €2,673 | €2,406 | -€267 | -10.0% |
| Tangible fixed assets | 22/27 | €723 | €456 | -€267 | -36.9% |
| Plant, machinery and equipment | 23 | €723 | €456 | -€267 | -36.9% |
| Financial fixed assets | 28 | €1,950 | €1,950 | = | 0.0% |
| Current assets | 29/58 | €74,299 | €72,013 | -€2,286 | -3.1% |
| Stocks and contracts in progress | 3 | €483 | €401 | -€82 | -17.0% |
| Stocks | 30/36 | €483 | €401 | -€82 | -17.0% |
| Amounts receivable within one year | 40/41 | €72,066 | €70,730 | -€1,336 | -1.9% |
| Trade receivables | 40 | €171 | - | -€171 | |
| Other amounts receivable | 41 | €71,895 | €70,730 | -€1,165 | -1.6% |
| Cash at bank and in hand | 54/58 | €1,718 | €632 | -€1,087 | -63.2% |
| Deferred charges and accrued income | 490/1 | €32 | €251 | +€219 | +676.8% |
| Total equity and liabilities | 10/49 | €76,972 | €74,420 | -€2,553 | -3.3% |
| Equity | 10/15 | €62,581 | €60,423 | -€2,157 | -3.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €42,121 | €39,963 | -€2,157 | -5.1% |
| Amounts payable | 17/49 | €14,392 | €13,996 | -€395 | -2.7% |
| Amounts payable within one year | 42/48 | €14,392 | €13,996 | -€395 | -2.7% |
| Financial debts | 43 | €13,022 | €12,819 | -€203 | -1.6% |
| Credit institutions | 430/8 | €13,022 | €12,819 | -€203 | -1.6% |
| Trade debts | 44 | €1,050 | €1,177 | +€127 | +12.1% |
| Suppliers | 440/4 | €1,050 | €1,177 | +€127 | +12.1% |
| Taxes, remuneration and social security | 45 | €320 | - | -€320 | |
| Taxes | 450/3 | €320 | - | -€320 | |
| Remuneration, social security and pensions | 62 | €387 | €400 | +€12 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77 | €267 | +€189 | +245.3% |
| Other operating charges | 640/8 | €62 | €62 | = | 0.0% |
| Gross operating margin | 9900 | €2,751 | €459 | -€2,292 | -83.3% |
| Operating profit (loss) | 9901 | €2,224 | -€269 | -€2,494 | |
| Financial income | 75/76B | €6 | €75 | +€70 | +1242.9% |
| Recurring financial income | 75 | €6 | €75 | +€70 | +1242.9% |
| Financial charges | 65/66B | €2,105 | €1,964 | -€142 | -6.7% |
| Recurring financial charges | 65 | €2,105 | €1,964 | -€142 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | €125 | -€2,157 | -€2,282 | |
| Profit (loss) for the period | 9904 | €125 | -€2,157 | -€2,282 | |
| Profit (loss) for the period to be appropriated | 9905 | €125 | -€2,157 | -€2,282 |
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 6 October 2026 via checked.be.