M-brella: 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-brella
Largest movements
- Receivables within one year +€97,371
up €97,371 (+97.9%), from €99,476 to €196,847
of which Other amounts receivable: +€79,677
- Intangible fixed assets -€60,000
down €60,000 (-25.5%), from €235,000 to €175,000
- Tangible fixed assets +€7,832
up €7,832 (+108%), from €7,285 to €15,117
- Profit (loss) carried forward +€49,908
up €49,908 (+13.3%), from €374,328 to €424,236
- Other operating charges -€42,792
down €42,792 (-88.0%), from €48,647 to €5,855
- Gross operating margin +€24,886
up €24,886 (+27.0%), from €92,304 to €117,190
- Depreciation -€4,904
down €4,904 (-7.5%), from €65,633 to €60,729
- Financial income -€2,112
down €2,112 (-99.9%), from €2,115 to €3
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 | €448,298 | €492,219 | +€43,921 | +9.8% |
| Fixed assets | 21/28 | €242,325 | €190,157 | -€52,168 | -21.5% |
| Intangible fixed assets | 21 | €235,000 | €175,000 | -€60,000 | -25.5% |
| Tangible fixed assets | 22/27 | €7,285 | €15,117 | +€7,832 | +108% |
| Furniture and vehicles | 24 | €7,285 | €15,117 | +€7,832 | +108% |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €205,974 | €302,063 | +€96,089 | +46.7% |
| Amounts receivable after more than one year | 29 | €75,000 | €75,000 | = | 0.0% |
| Other amounts receivable | 291 | €75,000 | €75,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €99,476 | €196,847 | +€97,371 | +97.9% |
| Trade receivables | 40 | - | €17,694 | +€17,694 | |
| Other amounts receivable | 41 | €99,476 | €179,153 | +€79,677 | +80.1% |
| Cash at bank and in hand | 54/58 | €31,498 | €29,598 | -€1,900 | -6.0% |
| Deferred charges and accrued income | 490/1 | - | €618 | +€618 | |
| Total equity and liabilities | 10/49 | €448,298 | €492,219 | +€43,921 | +9.8% |
| Equity | 10/15 | €407,328 | €457,236 | +€49,908 | +12.3% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €3,000 | €3,000 | = | 0.0% |
| Distributable reserves | 133 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €374,328 | €424,236 | +€49,908 | +13.3% |
| Amounts payable | 17/49 | €40,970 | €34,984 | -€5,987 | -14.6% |
| Amounts payable after more than one year | 17 | €6,006 | €1,539 | -€4,468 | -74.4% |
| Financial debts | 170/4 | €6,006 | €1,539 | -€4,468 | -74.4% |
| Amounts payable within one year | 42/48 | €34,964 | €33,445 | -€1,519 | -4.3% |
| Current portion of amounts payable after more than one year | 42 | €4,253 | €4,468 | +€214 | +5.0% |
| Trade debts | 44 | €449 | €492 | +€43 | +9.7% |
| Suppliers | 440/4 | €449 | €492 | +€43 | +9.7% |
| Taxes, remuneration and social security | 45 | €30,262 | €28,485 | -€1,777 | -5.9% |
| Taxes | 450/3 | €30,262 | €28,485 | -€1,777 | -5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,633 | €60,729 | -€4,904 | -7.5% |
| Other operating charges | 640/8 | €48,647 | €5,855 | -€42,792 | -88.0% |
| Gross operating margin | 9900 | €92,304 | €117,190 | +€24,886 | +27.0% |
| Operating profit (loss) | 9901 | -€21,977 | €50,606 | +€72,583 | |
| Financial income | 75/76B | €2,115 | €3 | -€2,112 | -99.9% |
| Recurring financial income | 75 | €2,115 | €3 | -€2,112 | -99.9% |
| Financial charges | 65/66B | €912 | €701 | -€211 | -23.1% |
| Recurring financial charges | 65 | €912 | €701 | -€211 | -23.1% |
| Profit (loss) for the period before taxes | 9903 | -€20,774 | €49,908 | +€70,681 | |
| Profit (loss) for the period | 9904 | -€20,774 | €49,908 | +€70,681 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,774 | €49,908 | +€70,681 |
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 20 October 2026 via checked.be.