M.B.O.: 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.O.
Largest movements
- Receivables within one year +€133,662
up €133,662 (+59.7%), from €223,937 to €357,600
of which Other amounts receivable: +€175,972
- Cash +€21,486
up €21,486 (+37.7%), from €56,949 to €78,435
mainly Net result for the year (+€126,405) and Other debts (+€103,627)
- Other debts +€103,627
new in 2024: €103,627
- Tax, wage and social debts +€22,929
up €22,929 (+71.0%), from €32,297 to €55,226
- Reserves +€22,778
up €22,778 (+9.5%), from €240,890 to €263,668
- Gross operating margin +€58,846
up €58,846 (+46.4%), from €126,814 to €185,659
- Taxes +€35,398
up €35,398 (+132%), from €26,722 to €62,120
- Financial income +€7,382
up €7,382 (+103%), from €7,151 to €14,533
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €369,717 | €518,331 | +€148,613 | +40.2% |
| Fixed assets | 21/28 | €86,630 | €81,649 | -€4,981 | -5.7% |
| Tangible fixed assets | 22/27 | €86,630 | €81,649 | -€4,981 | -5.7% |
| Furniture and vehicles | 24 | €14,225 | €15,635 | +€1,410 | +9.9% |
| Other tangible fixed assets | 26 | €72,406 | €66,014 | -€6,391 | -8.8% |
| Current assets | 29/58 | €283,087 | €436,681 | +€153,594 | +54.3% |
| Amounts receivable within one year | 40/41 | €223,937 | €357,600 | +€133,662 | +59.7% |
| Trade receivables | 40 | €72,130 | €29,820 | -€42,309 | -58.7% |
| Other amounts receivable | 41 | €151,808 | €327,779 | +€175,972 | +116% |
| Cash at bank and in hand | 54/58 | €56,949 | €78,435 | +€21,486 | +37.7% |
| Deferred charges and accrued income | 490/1 | €2,200 | €647 | -€1,554 | -70.6% |
| Total equity and liabilities | 10/49 | €369,717 | €518,331 | +€148,613 | +40.2% |
| Equity | 10/15 | €323,204 | €345,982 | +€22,778 | +7.0% |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Reserves | 13 | €240,890 | €263,668 | +€22,778 | +9.5% |
| Distributable reserves | 133 | €240,890 | €263,668 | +€22,778 | +9.5% |
| Profit (loss) carried forward | 14 | €60,314 | €60,314 | = | 0.0% |
| Amounts payable | 17/49 | €46,514 | €172,349 | +€125,835 | +271% |
| Amounts payable within one year | 42/48 | €46,514 | €172,349 | +€125,835 | +271% |
| Financial debts | 43 | - | €1,392 | +€1,392 | |
| Credit institutions | 430/8 | - | €1,392 | +€1,392 | |
| Trade debts | 44 | €14,217 | €12,103 | -€2,113 | -14.9% |
| Suppliers | 440/4 | €14,217 | €12,103 | -€2,113 | -14.9% |
| Taxes, remuneration and social security | 45 | €32,297 | €55,226 | +€22,929 | +71.0% |
| Taxes | 450/3 | €32,297 | €55,226 | +€22,929 | +71.0% |
| Other amounts payable | 47/48 | - | €103,627 | +€103,627 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,513 | €10,021 | +€1,508 | +17.7% |
| Other operating charges | 640/8 | €100 | €387 | +€287 | +287% |
| Gross operating margin | 9900 | €126,814 | €185,659 | +€58,846 | +46.4% |
| Operating profit (loss) | 9901 | €118,201 | €175,251 | +€57,050 | +48.3% |
| Financial income | 75/76B | €7,151 | €14,533 | +€7,382 | +103% |
| Recurring financial income | 75 | €7,151 | €14,533 | +€7,382 | +103% |
| Financial charges | 65/66B | €1,580 | €1,258 | -€322 | -20.4% |
| Recurring financial charges | 65 | €1,580 | €1,258 | -€322 | -20.4% |
| Profit (loss) for the period before taxes | 9903 | €123,772 | €188,526 | +€64,754 | +52.3% |
| Income taxes | 67/77 | €26,722 | €62,120 | +€35,398 | +132% |
| Profit (loss) for the period | 9904 | €97,050 | €126,405 | +€29,356 | +30.2% |
| Profit (loss) for the period to be appropriated | 9905 | €97,050 | €126,405 | +€29,356 | +30.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.