M-Cube Belgium: 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-Cube Belgium
Largest movements
- Receivables within one year +€497,154
up €497,154 (+78.6%), from €632,289 to €1.1m
of which Trade receivables: +€604,281
- Financial fixed assets +€173,886
up €173,886 (+45.6%), from €381,233 to €555,119
- Receivables after one year +€173,021
up €173,021 (+43.4%), from €398,479 to €571,500
- Tangible fixed assets -€118,023
down €118,023 (-10.8%), from €1.1m to €972,950
of which Leasing and similar rights: -€118,086
- Deferred charges and accrued income +€44,264
up €44,264 (+316%), from €13,987 to €58,251
- Other debts +€797,272
up €797,272 (+160%), from €498,323 to €1.3m
- Accrued charges and deferred income +€650,894
up €650,894 (+7,682%), from €8,473 to €659,367
- Debts after one year -€579,604
down €579,604 (-56.5%), from €1.0m to €445,759
of which Other amounts payable: -€500,634
- Trade debts -€437,285
down €437,285 (-33.6%), from €1.3m to €863,536
of which Suppliers: -€429,778
- Tax, wage and social debts +€221,920
up €221,920 (+42.3%), from €525,174 to €747,094
of which Taxes: +€210,963
- Gross operating margin +€308,781
up €308,781 (+10.2%), from €3.0m to €3.3m
- Depreciation +€85,533
up €85,533 (+10.0%), from €851,774 to €937,307
- Financial charges +€75,070
up €75,070 (+87.0%), from €86,243 to €161,313
of which Financial charges: +€79,866
- Other operating charges +€58,341
up €58,341 (+81.5%), from €71,576 to €129,918
- Taxes +€41,725
up €41,725 (+74.4%), from €56,112 to €97,836
From the 2022 result to the 2023 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 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,415,595 | €4,198,600 | +€783,005 | +22.9% |
| Fixed assets | 21/28 | €2,135,108 | €2,212,527 | +€77,418 | +3.6% |
| Intangible fixed assets | 21 | €662,902 | €684,457 | +€21,555 | +3.3% |
| Tangible fixed assets | 22/27 | €1,090,973 | €972,950 | -€118,023 | -10.8% |
| Furniture and vehicles | 24 | €853,951 | €855,651 | +€1,700 | +0.2% |
| Leasing and similar rights | 25 | €183,523 | €65,437 | -€118,086 | -64.3% |
| Other tangible fixed assets | 26 | €53,499 | €51,861 | -€1,638 | -3.1% |
| Financial fixed assets | 28 | €381,233 | €555,119 | +€173,886 | +45.6% |
| Current assets | 29/58 | €1,280,487 | €1,986,073 | +€705,587 | +55.1% |
| Amounts receivable after more than one year | 29 | €398,479 | €571,500 | +€173,021 | +43.4% |
| Trade receivables | 290 | €398,479 | €571,500 | +€173,021 | +43.4% |
| Stocks and contracts in progress | 3 | €208,539 | €175,792 | -€32,747 | -15.7% |
| Stocks | 30/36 | €208,539 | €175,792 | -€32,747 | -15.7% |
| Amounts receivable within one year | 40/41 | €632,289 | €1,129,443 | +€497,154 | +78.6% |
| Trade receivables | 40 | €452,705 | €1,056,987 | +€604,281 | +133% |
| Other amounts receivable | 41 | €179,584 | €72,456 | -€107,128 | -59.7% |
| Cash at bank and in hand | 54/58 | €27,192 | €51,087 | +€23,895 | +87.9% |
| Deferred charges and accrued income | 490/1 | €13,987 | €58,251 | +€44,264 | +316% |
| Total equity and liabilities | 10/49 | €3,415,595 | €4,198,600 | +€783,005 | +22.9% |
| Equity | 10/15 | -€255,215 | -€94,731 | +€160,484 | +62.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€273,765 | -€113,281 | +€160,484 | +58.6% |
| Amounts payable | 17/49 | €3,670,810 | €4,293,331 | +€622,521 | +17.0% |
| Amounts payable after more than one year | 17 | €1,025,363 | €445,759 | -€579,604 | -56.5% |
| Financial debts | 170/4 | €133,130 | €54,160 | -€78,970 | -59.3% |
| Other amounts payable | 178/9 | €892,233 | €391,599 | -€500,634 | -56.1% |
| Amounts payable within one year | 42/48 | €2,636,974 | €3,188,206 | +€551,232 | +20.9% |
| Current portion of amounts payable after more than one year | 42 | €149,788 | €194,462 | +€44,674 | +29.8% |
| Financial debts | 43 | €162,868 | €87,519 | -€75,350 | -46.3% |
| Credit institutions | 430/8 | €162,868 | - | -€162,868 | |
| Other loans | 439 | - | €87,519 | +€87,519 | |
| Trade debts | 44 | €1,300,820 | €863,536 | -€437,285 | -33.6% |
| Suppliers | 440/4 | €1,287,248 | €857,470 | -€429,778 | -33.4% |
| Bills of exchange payable | 441 | €13,572 | €6,065 | -€7,507 | -55.3% |
| Taxes, remuneration and social security | 45 | €525,174 | €747,094 | +€221,920 | +42.3% |
| Taxes | 450/3 | €158,094 | €369,057 | +€210,963 | +133% |
| Remuneration and social security | 454/9 | €367,080 | €378,037 | +€10,957 | +3.0% |
| Other amounts payable | 47/48 | €498,323 | €1,295,595 | +€797,272 | +160% |
| Accrued charges and deferred income | 492/3 | €8,473 | €659,367 | +€650,894 | +7,682% |
| Non-recurring operating income | 76A | - | €139,585 | +€139,585 | |
| Remuneration, social security and pensions | 62 | €1,876,748 | €1,879,459 | +€2,711 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €851,774 | €937,307 | +€85,533 | +10.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €21,781 | €9,591 | -€12,190 | -56.0% |
| Other operating charges | 640/8 | €71,576 | €129,918 | +€58,341 | +81.5% |
| Non-recurring operating charges | 66A | - | €5 | +€5 | |
| Gross operating margin | 9900 | €3,016,875 | €3,325,657 | +€308,781 | +10.2% |
| Operating profit (loss) | 9901 | €194,996 | €369,377 | +€174,381 | +89.4% |
| Financial income | 75/76B | €8,786 | €50,256 | +€41,471 | +472% |
| Recurring financial income | 75 | €8,786 | €50,256 | +€41,471 | +472% |
| Financial charges | 65/66B | €86,243 | €161,313 | +€75,070 | +87.0% |
| Recurring financial charges | 65 | €81,448 | €161,313 | +€79,866 | +98.1% |
| Non-recurring financial charges | 66B | €4,796 | - | -€4,796 | |
| Profit (loss) for the period before taxes | 9903 | €117,539 | €258,320 | +€140,782 | +120% |
| Income taxes | 67/77 | €56,112 | €97,836 | +€41,725 | +74.4% |
| Profit (loss) for the period | 9904 | €61,427 | €160,484 | +€99,057 | +161% |
| Profit (loss) for the period to be appropriated | 9905 | €61,427 | €160,484 | +€99,057 | +161% |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.