M.B.C.: 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.C.
Largest movements
- Receivables within one year +€85,992
up €85,992 (+30.3%), from €283,943 to €369,935
- Cash -€13,610
down €13,610 (-5.4%), from €250,812 to €237,203
mainly Receivables within one year (-€85,992) and Investment in fixed assets (net) (-€70,494)
- Tangible fixed assets +€11,098
up €11,098 (+7.8%), from €141,455 to €152,553
of which Furniture and vehicles: +€7,055
- Trade debts +€57,008
up €57,008 (+96.7%), from €58,952 to €115,960
- Other debts +€21,316
up €21,316 (+58.4%), from €36,516 to €57,832
- Staff costs +€41,456
up €41,456 (+61.1%), from €67,804 to €109,260
- Financial income -€19,527
down €19,527 (-73.7%), from €26,489 to €6,962
- Gross operating margin +€13,373
up €13,373 (+6.4%), from €210,455 to €223,828
- Taxes -€11,255
down €11,255 (-39.8%), from €28,312 to €17,057
- Depreciation +€6,793
up €6,793 (+12.9%), from €52,603 to €59,395
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 | €905,666 | €977,822 | +€72,157 | +8.0% |
| Fixed assets | 21/28 | €141,590 | €152,688 | +€11,098 | +7.8% |
| Tangible fixed assets | 22/27 | €141,455 | €152,553 | +€11,098 | +7.8% |
| Land and buildings | 22 | €2,404 | €1,803 | -€601 | -25.0% |
| Plant, machinery and equipment | 23 | €32,215 | €38,168 | +€5,953 | +18.5% |
| Furniture and vehicles | 24 | €94,872 | €101,928 | +€7,055 | +7.4% |
| Other tangible fixed assets | 26 | €11,963 | €10,654 | -€1,309 | -10.9% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €764,076 | €825,134 | +€61,058 | +8.0% |
| Stocks and contracts in progress | 3 | €80,877 | €72,380 | -€8,498 | -10.5% |
| Stocks | 30/36 | €80,877 | €72,380 | -€8,498 | -10.5% |
| Amounts receivable within one year | 40/41 | €283,943 | €369,935 | +€85,992 | +30.3% |
| Trade receivables | 40 | €283,943 | €369,935 | +€85,992 | +30.3% |
| Current investments | 50/53 | €148,443 | €145,617 | -€2,826 | -1.9% |
| Cash at bank and in hand | 54/58 | €250,812 | €237,203 | -€13,610 | -5.4% |
| Total equity and liabilities | 10/49 | €905,666 | €977,822 | +€72,157 | +8.0% |
| Equity | 10/15 | €763,031 | €762,842 | -€190 | 0.0% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €742,580 | €742,391 | -€190 | 0.0% |
| Distributable reserves | 133 | €742,580 | €742,391 | -€190 | 0.0% |
| Profit (loss) carried forward | 14 | €1,451 | €1,451 | = | 0.0% |
| Amounts payable | 17/49 | €142,634 | €214,981 | +€72,346 | +50.7% |
| Amounts payable within one year | 42/48 | €135,465 | €210,481 | +€75,015 | +55.4% |
| Trade debts | 44 | €58,952 | €115,960 | +€57,008 | +96.7% |
| Suppliers | 440/4 | €58,952 | €115,960 | +€57,008 | +96.7% |
| Taxes, remuneration and social security | 45 | €39,997 | €36,689 | -€3,309 | -8.3% |
| Taxes | 450/3 | €30,119 | €21,464 | -€8,654 | -28.7% |
| Remuneration and social security | 454/9 | €9,879 | €15,224 | +€5,345 | +54.1% |
| Other amounts payable | 47/48 | €36,516 | €57,832 | +€21,316 | +58.4% |
| Accrued charges and deferred income | 492/3 | €7,169 | €4,500 | -€2,669 | -37.2% |
| Remuneration, social security and pensions | 62 | €67,804 | €109,260 | +€41,456 | +61.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,603 | €59,395 | +€6,793 | +12.9% |
| Other operating charges | 640/8 | €2,269 | €2,238 | -€32 | -1.4% |
| Gross operating margin | 9900 | €210,455 | €223,828 | +€13,373 | +6.4% |
| Operating profit (loss) | 9901 | €87,779 | €52,935 | -€34,844 | -39.7% |
| Financial income | 75/76B | €26,489 | €6,962 | -€19,527 | -73.7% |
| Recurring financial income | 75 | €26,489 | €6,962 | -€19,527 | -73.7% |
| Financial charges | 65/66B | €5,587 | €3,029 | -€2,557 | -45.8% |
| Recurring financial charges | 65 | €5,587 | €3,029 | -€2,557 | -45.8% |
| Profit (loss) for the period before taxes | 9903 | €108,681 | €56,867 | -€51,814 | -47.7% |
| Income taxes | 67/77 | €28,312 | €17,057 | -€11,255 | -39.8% |
| Profit (loss) for the period | 9904 | €80,369 | €39,810 | -€40,559 | -50.5% |
| Profit (loss) for the period to be appropriated | 9905 | €80,369 | €39,810 | -€40,559 | -50.5% |
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 11 October 2026 via checked.be.