M.B.G.-TRANS: 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.G.-TRANS
Largest movements
- Receivables within one year +€43,334
up €43,334 (+277%), from €15,667 to €59,001
of which Trade receivables: +€23,834
- Cash +€19,166
up €19,166 (+420%), from €4,562 to €23,728
mainly Other debts (+€73,367) and Debts after one year (+€31,796)
- Tangible fixed assets +€12,692
up €12,692 (+18.0%), from €70,595 to €83,288
of which Furniture and vehicles: +€80,359
- Deferred charges and accrued income -€2,789
no longer reported in 2025 (was €2,789)
- Other debts +€73,367
up €73,367 (+236%), from €31,150 to €104,518
- Trade debts -€67,789
down €67,789 (-75.0%), from €90,361 to €22,572
- Debts after one year +€31,796
up €31,796 (+103%), from €30,875 to €62,671
- Profit (loss) carried forward +€19,488
up €19,488 (+17.0%), from -€114,533 to -€95,046
- Accrued charges and deferred income +€16,959
new in 2025: €16,959
- Staff costs -€53,547
no longer reported in 2025 (was €53,547)
- Depreciation -€27,653
down €27,653 (-75.6%), from €36,561 to €8,908
- Gross operating margin -€19,360
down €19,360 (-29.2%), from €66,202 to €46,841
- Financial charges +€1,443
up €1,443 (+55.8%), from €2,583 to €4,026
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 | €105,252 | €177,456 | +€72,204 | +68.6% |
| Fixed assets | 21/28 | €82,234 | €94,727 | +€12,492 | +15.2% |
| Tangible fixed assets | 22/27 | €70,595 | €83,288 | +€12,692 | +18.0% |
| Plant, machinery and equipment | 23 | €726 | €498 | -€228 | -31.4% |
| Furniture and vehicles | 24 | €2,430 | €82,790 | +€80,359 | +3,307% |
| Leasing and similar rights | 25 | €67,439 | - | -€67,439 | |
| Financial fixed assets | 28 | €11,639 | €11,439 | -€200 | -1.7% |
| Current assets | 29/58 | €23,018 | €82,729 | +€59,711 | +259% |
| Amounts receivable within one year | 40/41 | €15,667 | €59,001 | +€43,334 | +277% |
| Trade receivables | 40 | €14,067 | €37,901 | +€23,834 | +169% |
| Other amounts receivable | 41 | €1,600 | €21,100 | +€19,500 | +1,219% |
| Cash at bank and in hand | 54/58 | €4,562 | €23,728 | +€19,166 | +420% |
| Deferred charges and accrued income | 490/1 | €2,789 | - | -€2,789 | |
| Total equity and liabilities | 10/49 | €105,252 | €177,456 | +€72,204 | +68.6% |
| Equity | 10/15 | -€73,033 | -€53,546 | +€19,488 | +26.7% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €16,500 | €16,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,000 | €14,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€114,533 | -€95,046 | +€19,488 | +17.0% |
| Amounts payable | 17/49 | €178,286 | €231,002 | +€52,716 | +29.6% |
| Amounts payable after more than one year | 17 | €30,875 | €62,671 | +€31,796 | +103% |
| Financial debts | 170/4 | €30,875 | €62,671 | +€31,796 | +103% |
| Amounts payable within one year | 42/48 | €147,410 | €151,372 | +€3,962 | +2.7% |
| Current portion of amounts payable after more than one year | 42 | €21,698 | €14,900 | -€6,798 | -31.3% |
| Financial debts | 43 | €30 | - | -€30 | |
| Credit institutions | 430/8 | €30 | - | -€30 | |
| Trade debts | 44 | €90,361 | €22,572 | -€67,789 | -75.0% |
| Suppliers | 440/4 | €90,361 | €22,572 | -€67,789 | -75.0% |
| Taxes, remuneration and social security | 45 | €4,171 | €9,382 | +€5,212 | +125% |
| Taxes | 450/3 | €567 | €5,559 | +€4,992 | +880% |
| Remuneration and social security | 454/9 | €3,603 | €3,823 | +€220 | +6.1% |
| Other amounts payable | 47/48 | €31,150 | €104,518 | +€73,367 | +236% |
| Accrued charges and deferred income | 492/3 | - | €16,959 | +€16,959 | |
| Remuneration, social security and pensions | 62 | €53,547 | - | -€53,547 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,561 | €8,908 | -€27,653 | -75.6% |
| Other operating charges | 640/8 | €11,191 | €11,016 | -€174 | -1.6% |
| Non-recurring operating charges | 66A | €8,600 | €3,303 | -€5,297 | -61.6% |
| Gross operating margin | 9900 | €66,202 | €46,841 | -€19,360 | -29.2% |
| Operating profit (loss) | 9901 | -€43,698 | €23,613 | +€67,311 | |
| Financial charges | 65/66B | €2,583 | €4,026 | +€1,443 | +55.8% |
| Recurring financial charges | 65 | €2,583 | €4,026 | +€1,443 | +55.8% |
| Profit (loss) for the period before taxes | 9903 | -€46,281 | €19,588 | +€65,868 | |
| Income taxes | 67/77 | - | €100 | +€100 | |
| Profit (loss) for the period | 9904 | -€46,281 | €19,488 | +€65,768 | |
| Profit (loss) for the period to be appropriated | 9905 | -€46,281 | €19,488 | +€65,768 |
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 28 October 2026 via checked.be.