M.B.A.L.: 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.
M.B.A.L.
Largest movements
- Cash +€13,215
up €13,215 (+63.2%), from €20,906 to €34,121
mainly Net result for the year (+€14,317) and Trade debts (+€9,478)
- Receivables within one year +€12,693
up €12,693 (+1,097%), from €1,157 to €13,849
of which Trade receivables: +€12,422
- Tangible fixed assets +€4,098
up €4,098 (+2.6%), from €157,119 to €161,217
of which Land and buildings: +€4,392
- Profit (loss) carried forward +€14,317
up €14,317 (+86.0%), from -€16,644 to -€2,327
- Trade debts +€9,478
up €9,478 (+1,138%), from €833 to €10,311
- Accrued charges and deferred income +€6,000
new in 2025: €6,000
- Gross operating margin +€10,015
up €10,015 (+99.9%), from €10,022 to €20,037
- Depreciation -€1,330
down €1,330 (-22.2%), from €5,982 to €4,652
- Taxes -€558
no longer reported in 2025 (was €558)
- Other operating charges +€554
up €554 (+136%), from €408 to €962
- Financial charges -€240
down €240 (-69.4%), from €346 to €106
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 | €180,182 | €209,353 | +€29,172 | +16.2% |
| Fixed assets | 21/28 | €157,119 | €161,217 | +€4,098 | +2.6% |
| Tangible fixed assets | 22/27 | €157,119 | €161,217 | +€4,098 | +2.6% |
| Land and buildings | 22 | €154,900 | €159,292 | +€4,392 | +2.8% |
| Plant, machinery and equipment | 23 | €1,757 | €1,579 | -€177 | -10.1% |
| Furniture and vehicles | 24 | €462 | €346 | -€116 | -25.1% |
| Current assets | 29/58 | €23,063 | €48,137 | +€25,074 | +109% |
| Amounts receivable within one year | 40/41 | €1,157 | €13,849 | +€12,693 | +1,097% |
| Trade receivables | 40 | €700 | €13,122 | +€12,422 | +1,775% |
| Other amounts receivable | 41 | €457 | €727 | +€271 | +59.2% |
| Cash at bank and in hand | 54/58 | €20,906 | €34,121 | +€13,215 | +63.2% |
| Deferred charges and accrued income | 490/1 | €1,000 | €166 | -€834 | -83.4% |
| Total equity and liabilities | 10/49 | €180,182 | €209,353 | +€29,172 | +16.2% |
| Equity | 10/15 | -€14,644 | -€327 | +€14,317 | +97.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,644 | -€2,327 | +€14,317 | +86.0% |
| Amounts payable | 17/49 | €194,825 | €209,681 | +€14,855 | +7.6% |
| Amounts payable within one year | 42/48 | €194,825 | €203,681 | +€8,855 | +4.5% |
| Trade debts | 44 | €833 | €10,311 | +€9,478 | +1,138% |
| Suppliers | 440/4 | €833 | €10,311 | +€9,478 | +1,138% |
| Taxes, remuneration and social security | 45 | €1,517 | €929 | -€588 | -38.8% |
| Taxes | 450/3 | €1,517 | €929 | -€588 | -38.8% |
| Other amounts payable | 47/48 | €192,475 | €192,440 | -€35 | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €6,000 | +€6,000 | |
| Non-recurring operating income | 76A | €40 | €225 | +€185 | +463% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,982 | €4,652 | -€1,330 | -22.2% |
| Other operating charges | 640/8 | €408 | €962 | +€554 | +136% |
| Non-recurring operating charges | 66A | €267 | - | -€267 | |
| Gross operating margin | 9900 | €10,022 | €20,037 | +€10,015 | +99.9% |
| Operating profit (loss) | 9901 | €3,365 | €14,423 | +€11,058 | +329% |
| Financial charges | 65/66B | €346 | €106 | -€240 | -69.4% |
| Recurring financial charges | 65 | €346 | €106 | -€240 | -69.4% |
| Profit (loss) for the period before taxes | 9903 | €3,019 | €14,317 | +€11,298 | +374% |
| Income taxes | 67/77 | €558 | - | -€558 | |
| Profit (loss) for the period | 9904 | €2,461 | €14,317 | +€11,856 | +482% |
| Profit (loss) for the period to be appropriated | 9905 | €2,461 | €14,317 | +€11,856 | +482% |
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.