M.B.R.: 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.R.
Largest movements
- Receivables within one year +€8,251
up €8,251 (+232%), from €3,550 to €11,802
of which Other amounts receivable: +€10,532
- Tangible fixed assets -€7,070
down €7,070 (-10.0%), from €70,938 to €63,868
of which Plant, machinery and equipment: -€4,486
- Cash +€1,985
up €1,985 (+4.8%), from €41,407 to €43,391
mainly Depreciation (+€14,143) and Net result for the year (+€13,122)
- Reserves +€13,100
up €13,100 (+18.6%), from €70,250 to €83,350
- Debts after one year -€7,174
down €7,174 (-40.1%), from €17,907 to €10,733
- Trade debts -€2,927
down €2,927 (-54.0%), from €5,424 to €2,497
- Staff costs +€14,517
up €14,517 (+138%), from €10,550 to €25,067
- Gross operating margin +€13,036
up €13,036 (+25.1%), from €51,872 to €64,908
- Other operating charges +€1,316
up €1,316 (+30.7%), from €4,281 to €5,597
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 | €125,449 | €129,268 | +€3,819 | +3.0% |
| Fixed assets | 21/28 | €71,123 | €64,152 | -€6,970 | -9.8% |
| Tangible fixed assets | 22/27 | €70,938 | €63,868 | -€7,070 | -10.0% |
| Land and buildings | 22 | €40,864 | €38,989 | -€1,875 | -4.6% |
| Plant, machinery and equipment | 23 | €26,938 | €22,452 | -€4,486 | -16.7% |
| Furniture and vehicles | 24 | €3,136 | €2,427 | -€709 | -22.6% |
| Financial fixed assets | 28 | €185 | €285 | +€100 | +54.1% |
| Current assets | 29/58 | €54,327 | €65,116 | +€10,789 | +19.9% |
| Stocks and contracts in progress | 3 | €8,733 | €9,060 | +€327 | +3.7% |
| Stocks | 30/36 | €8,733 | €9,060 | +€327 | +3.7% |
| Amounts receivable within one year | 40/41 | €3,550 | €11,802 | +€8,251 | +232% |
| Trade receivables | 40 | €3,191 | €910 | -€2,281 | -71.5% |
| Other amounts receivable | 41 | €360 | €10,892 | +€10,532 | +2,929% |
| Cash at bank and in hand | 54/58 | €41,407 | €43,391 | +€1,985 | +4.8% |
| Deferred charges and accrued income | 490/1 | €637 | €862 | +€226 | +35.4% |
| Total equity and liabilities | 10/49 | €125,449 | €129,268 | +€3,819 | +3.0% |
| Equity | 10/15 | €90,770 | €103,892 | +€13,122 | +14.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €70,250 | €83,350 | +€13,100 | +18.6% |
| Distributable reserves | 133 | €70,250 | €83,350 | +€13,100 | +18.6% |
| Profit (loss) carried forward | 14 | €1,928 | €1,950 | +€22 | +1.2% |
| Amounts payable | 17/49 | €34,679 | €25,376 | -€9,303 | -26.8% |
| Amounts payable after more than one year | 17 | €17,907 | €10,733 | -€7,174 | -40.1% |
| Financial debts | 170/4 | €17,907 | €10,733 | -€7,174 | -40.1% |
| Amounts payable within one year | 42/48 | €16,753 | €14,624 | -€2,130 | -12.7% |
| Current portion of amounts payable after more than one year | 42 | €6,857 | €7,174 | +€317 | +4.6% |
| Trade debts | 44 | €5,424 | €2,497 | -€2,927 | -54.0% |
| Suppliers | 440/4 | €5,424 | €2,497 | -€2,927 | -54.0% |
| Taxes, remuneration and social security | 45 | €4,472 | €4,953 | +€481 | +10.8% |
| Taxes | 450/3 | €839 | €119 | -€719 | -85.8% |
| Remuneration and social security | 454/9 | €3,633 | €4,834 | +€1,201 | +33.0% |
| Other amounts payable | 47/48 | - | €0 | = | |
| Accrued charges and deferred income | 492/3 | €19 | €19 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €10,550 | €25,067 | +€14,517 | +138% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,681 | €14,143 | +€462 | +3.4% |
| Other operating charges | 640/8 | €4,281 | €5,597 | +€1,316 | +30.7% |
| Non-recurring operating charges | 66A | €3,000 | €0 | -€3,000 | -100% |
| Gross operating margin | 9900 | €51,872 | €64,908 | +€13,036 | +25.1% |
| Operating profit (loss) | 9901 | €20,361 | €20,101 | -€260 | -1.3% |
| Financial income | 75/76B | €1 | €51 | +€50 | +8,225% |
| Recurring financial income | 75 | €1 | €51 | +€50 | +8,225% |
| Financial charges | 65/66B | €2,589 | €2,283 | -€306 | -11.8% |
| Recurring financial charges | 65 | €2,589 | €2,283 | -€306 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | €17,773 | €17,869 | +€97 | +0.5% |
| Income taxes | 67/77 | €5,219 | €4,747 | -€473 | -9.1% |
| Profit (loss) for the period | 9904 | €12,553 | €13,122 | +€569 | +4.5% |
| Profit (loss) for the period to be appropriated | 9905 | €12,553 | €13,122 | +€569 | +4.5% |
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 31 October 2026 via checked.be.