M-BUILDING: 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-BUILDING
Largest movements
- Receivables within one year +€722,440
up €722,440 (+118.7%), from €608,414 to €1.3m
of which Other amounts receivable: +€712,922
- Tangible fixed assets -€538,822
down €538,822 (-4.0%), from €13.3m to €12.8m
of which Land and buildings: -€500,390
- Debts after one year -€455,801
down €455,801 (-22.3%), from €2.0m to €1.6m
- Reserves +€328,696
up €328,696 (+17671.8%), from €1,860 to €330,556
of which Distributable reserves: +€328,696
- Other debts +€253,674
up €253,674 (+62.1%), from €408,653 to €662,327
- Financial charges -€232,589
down €232,589 (-65.9%), from €353,070 to €120,481
- Provisions +€81,224
no longer reported in 2025 (was -€81,224)
- Gross operating margin -€64,402
down €64,402 (-5.9%), from €1.1m to €1.0m
- Financial income +€17,567
up €17,567 (+29962.1%), from €59 to €17,625
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 | €13,938,986 | €14,122,453 | +€183,467 | +1.3% |
| Fixed assets | 21/28 | €13,317,978 | €12,779,156 | -€538,822 | -4.0% |
| Tangible fixed assets | 22/27 | €13,317,916 | €12,779,094 | -€538,822 | -4.0% |
| Land and buildings | 22 | €12,412,761 | €11,912,370 | -€500,390 | -4.0% |
| Plant, machinery and equipment | 23 | €33,808 | €33,558 | -€250 | -0.7% |
| Furniture and vehicles | 24 | €171,347 | €133,166 | -€38,182 | -22.3% |
| Other tangible fixed assets | 26 | €700,000 | €700,000 | = | 0.0% |
| Financial fixed assets | 28 | €62 | €62 | = | 0.0% |
| Current assets | 29/58 | €621,008 | €1,343,297 | +€722,289 | +116.3% |
| Amounts receivable within one year | 40/41 | €608,414 | €1,330,854 | +€722,440 | +118.7% |
| Trade receivables | 40 | €582 | €10,100 | +€9,518 | +1635.4% |
| Other amounts receivable | 41 | €607,832 | €1,320,754 | +€712,922 | +117.3% |
| Cash at bank and in hand | 54/58 | €99 | €30 | -€68 | -69.1% |
| Deferred charges and accrued income | 490/1 | €12,496 | €12,412 | -€83 | -0.7% |
| Total equity and liabilities | 10/49 | €13,938,986 | €14,122,453 | +€183,467 | +1.3% |
| Equity | 10/15 | €10,986,303 | €11,296,424 | +€310,122 | +2.8% |
| Contributions | 10/11 | €10,772,494 | €10,772,494 | = | 0.0% |
| Reserves | 13 | €1,860 | €330,556 | +€328,696 | +17671.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | - | €328,696 | +€328,696 | |
| Profit (loss) carried forward | 14 | -€27,136 | - | +€27,136 | |
| Investment grants | 15 | €239,085 | €193,375 | -€45,710 | -19.1% |
| Amounts payable | 17/49 | €2,952,683 | €2,826,028 | -€126,654 | -4.3% |
| Amounts payable after more than one year | 17 | €2,044,526 | €1,588,726 | -€455,801 | -22.3% |
| Financial debts | 170/4 | €2,044,526 | €1,588,726 | -€455,801 | -22.3% |
| Amounts payable within one year | 42/48 | €907,460 | €1,236,118 | +€328,658 | +36.2% |
| Current portion of amounts payable after more than one year | 42 | €469,689 | €462,745 | -€6,944 | -1.5% |
| Financial debts | 43 | €28,869 | €100,165 | +€71,296 | +247.0% |
| Credit institutions | 430/8 | €28,869 | €100,165 | +€71,296 | +247.0% |
| Trade debts | 44 | €249 | €10,881 | +€10,633 | +4275.7% |
| Suppliers | 440/4 | €249 | €10,881 | +€10,633 | +4275.7% |
| Other amounts payable | 47/48 | €408,653 | €662,327 | +€253,674 | +62.1% |
| Accrued charges and deferred income | 492/3 | €697 | €1,184 | +€488 | +70.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €562,723 | €561,528 | -€1,195 | -0.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€81,224 | - | +€81,224 | |
| Other operating charges | 640/8 | €13,156 | €13,344 | +€188 | +1.4% |
| Non-recurring operating charges | 66A | €22,000 | - | -€22,000 | |
| Gross operating margin | 9900 | €1,097,961 | €1,033,560 | -€64,402 | -5.9% |
| Operating profit (loss) | 9901 | €581,307 | €458,687 | -€122,620 | -21.1% |
| Financial income | 75/76B | €59 | €17,625 | +€17,567 | +29962.1% |
| Recurring financial income | 75 | €59 | €17,625 | +€17,567 | +29962.1% |
| Financial charges | 65/66B | €353,070 | €120,481 | -€232,589 | -65.9% |
| Recurring financial charges | 65 | €353,070 | €120,481 | -€232,589 | -65.9% |
| Profit (loss) for the period before taxes | 9903 | €228,295 | €355,832 | +€127,536 | +55.9% |
| Profit (loss) for the period | 9904 | €228,295 | €355,832 | +€127,536 | +55.9% |
| Profit (loss) for the period to be appropriated | 9905 | €228,295 | €355,832 | +€127,536 | +55.9% |
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 9 October 2026 via checked.be.