M.B BOTTON: 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 BOTTON
Largest movements
- Receivables within one year -€215,620
down €215,620 (-60.8%), from €354,475 to €138,854
of which Trade receivables: -€206,705
- Tangible fixed assets -€91,574
down €91,574 (-17.8%), from €515,414 to €423,840
of which Leasing and similar rights: -€52,649
- Profit (loss) carried forward -€113,669
down €113,669 (-47.9%), from €237,143 to €123,474
- Trade debts -€71,564
down €71,564 (-33.0%), from €216,933 to €145,368
- Debts after one year -€67,671
down €67,671 (-27.2%), from €248,352 to €180,681
- Current portion of long-term debt -€36,664
down €36,664 (-35.1%), from €104,334 to €67,671
- Tax, wage and social debts -€21,689
down €21,689 (-80.3%), from €27,020 to €5,331
of which Taxes: -€20,079
- Staff costs +€50,671
up €50,671 (+38.3%), from €132,205 to €182,876
- Financial charges +€24,394
up €24,394 (+160%), from €15,215 to €39,609
- Gross operating margin +€13,475
up €13,475 (+5.6%), from €238,881 to €252,356
- Depreciation -€8,758
down €8,758 (-7.5%), from €116,513 to €107,755
- Other operating charges +€8,696
up €8,696 (+31.6%), from €27,559 to €36,255
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €901,505 | €596,397 | -€305,107 | -33.8% |
| Fixed assets | 21/28 | €515,674 | €424,100 | -€91,574 | -17.8% |
| Tangible fixed assets | 22/27 | €515,414 | €423,840 | -€91,574 | -17.8% |
| Plant, machinery and equipment | 23 | €178,697 | €156,542 | -€22,155 | -12.4% |
| Furniture and vehicles | 24 | €41,924 | €25,154 | -€16,770 | -40.0% |
| Leasing and similar rights | 25 | €294,793 | €242,144 | -€52,649 | -17.9% |
| Financial fixed assets | 28 | €260 | €260 | = | 0.0% |
| Current assets | 29/58 | €385,831 | €172,297 | -€213,533 | -55.3% |
| Amounts receivable after more than one year | 29 | €30,000 | €30,000 | = | 0.0% |
| Other amounts receivable | 291 | €30,000 | €30,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €354,475 | €138,854 | -€215,620 | -60.8% |
| Trade receivables | 40 | €321,659 | €114,953 | -€206,705 | -64.3% |
| Other amounts receivable | 41 | €32,816 | €23,901 | -€8,915 | -27.2% |
| Deferred charges and accrued income | 490/1 | €1,356 | €3,443 | +€2,087 | +154% |
| Total equity and liabilities | 10/49 | €901,505 | €596,397 | -€305,107 | -33.8% |
| Equity | 10/15 | €281,403 | €167,734 | -€113,669 | -40.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €31,860 | €31,860 | = | 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% |
| Distributable reserves | 133 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €237,143 | €123,474 | -€113,669 | -47.9% |
| Amounts payable | 17/49 | €620,101 | €428,663 | -€191,438 | -30.9% |
| Amounts payable after more than one year | 17 | €248,352 | €180,681 | -€67,671 | -27.2% |
| Financial debts | 170/4 | €248,352 | €180,681 | -€67,671 | -27.2% |
| Amounts payable within one year | 42/48 | €371,749 | €247,982 | -€123,767 | -33.3% |
| Current portion of amounts payable after more than one year | 42 | €104,334 | €67,671 | -€36,664 | -35.1% |
| Financial debts | 43 | €23,462 | €29,612 | +€6,150 | +26.2% |
| Credit institutions | 430/8 | €23,462 | €29,612 | +€6,150 | +26.2% |
| Trade debts | 44 | €216,933 | €145,368 | -€71,564 | -33.0% |
| Suppliers | 440/4 | €216,933 | €145,368 | -€71,564 | -33.0% |
| Taxes, remuneration and social security | 45 | €27,020 | €5,331 | -€21,689 | -80.3% |
| Taxes | 450/3 | €21,079 | €1,000 | -€20,079 | -95.3% |
| Remuneration and social security | 454/9 | €5,941 | €4,331 | -€1,610 | -27.1% |
| Remuneration, social security and pensions | 62 | €132,205 | €182,876 | +€50,671 | +38.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €116,513 | €107,755 | -€8,758 | -7.5% |
| Other operating charges | 640/8 | €27,559 | €36,255 | +€8,696 | +31.6% |
| Non-recurring operating charges | 66A | €2,000 | - | -€2,000 | |
| Gross operating margin | 9900 | €238,881 | €252,356 | +€13,475 | +5.6% |
| Operating profit (loss) | 9901 | -€39,397 | -€74,531 | -€35,134 | -89.2% |
| Financial income | 75/76B | €11 | €470 | +€459 | +4,236% |
| Recurring financial income | 75 | €11 | €470 | +€459 | +4,236% |
| Financial charges | 65/66B | €15,215 | €39,609 | +€24,394 | +160% |
| Recurring financial charges | 65 | €15,215 | €39,609 | +€24,394 | +160% |
| Profit (loss) for the period before taxes | 9903 | -€54,601 | -€113,669 | -€59,069 | -108% |
| Profit (loss) for the period | 9904 | -€54,601 | -€113,669 | -€59,069 | -108% |
| Profit (loss) for the period to be appropriated | 9905 | -€54,601 | -€113,669 | -€59,069 | -108% |
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 1 November 2026 via checked.be.