M-LABS: 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-LABS
Largest movements
- Current investments +€15,000
up €15,000 (+28.9%), from €51,922 to €66,922
- Receivables within one year -€14,528
down €14,528 (-25.4%), from €57,278 to €42,751
of which Trade receivables: -€11,074
- Stocks and contracts +€10,541
new in 2025: €10,541
- Reserves +€27,734
up €27,734 (+10.6%), from €260,470 to €288,203
- Tax, wage and social debts -€22,895
down €22,895 (-54.3%), from €42,181 to €19,286
of which Remuneration and social security: -€17,901
- Other debts +€3,297
up €3,297 (+511.3%), from €645 to €3,942
- Gross operating margin -€37,536
down €37,536 (-42.5%), from €88,393 to €50,857
- Taxes -€7,909
down €7,909 (-34.6%), from €22,837 to €14,928
- Staff costs +€2,536
up €2,536 (+134.4%), from €1,886 to €4,423
- Depreciation +€2,101
up €2,101 (+174.9%), from €1,201 to €3,302
- Other operating charges -€1,662
down €1,662 (-89.0%), from €1,868 to €205
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 | €307,963 | €316,051 | +€8,087 | +2.6% |
| Fixed assets | 21/28 | €26,655 | €24,608 | -€2,047 | -7.7% |
| Tangible fixed assets | 22/27 | €26,480 | €24,433 | -€2,047 | -7.7% |
| Land and buildings | 22 | €24,615 | €22,253 | -€2,362 | -9.6% |
| Plant, machinery and equipment | 23 | €785 | €1,578 | +€793 | +101.0% |
| Furniture and vehicles | 24 | €1,080 | €602 | -€478 | -44.3% |
| Financial fixed assets | 28 | €175 | €175 | = | 0.0% |
| Current assets | 29/58 | €281,308 | €291,443 | +€10,134 | +3.6% |
| Stocks and contracts in progress | 3 | - | €10,541 | +€10,541 | |
| Contracts in progress | 37 | - | €10,541 | +€10,541 | |
| Amounts receivable within one year | 40/41 | €57,278 | €42,751 | -€14,528 | -25.4% |
| Trade receivables | 40 | €52,017 | €40,944 | -€11,074 | -21.3% |
| Other amounts receivable | 41 | €5,261 | €1,807 | -€3,454 | -65.7% |
| Current investments | 50/53 | €51,922 | €66,922 | +€15,000 | +28.9% |
| Cash at bank and in hand | 54/58 | €172,108 | €170,999 | -€1,109 | -0.6% |
| Deferred charges and accrued income | 490/1 | - | €230 | +€230 | |
| Total equity and liabilities | 10/49 | €307,963 | €316,051 | +€8,087 | +2.6% |
| Equity | 10/15 | €262,970 | €290,703 | +€27,734 | +10.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €260,470 | €288,203 | +€27,734 | +10.6% |
| Distributable reserves | 133 | €260,470 | €288,203 | +€27,734 | +10.6% |
| Amounts payable | 17/49 | €44,993 | €25,347 | -€19,646 | -43.7% |
| Amounts payable within one year | 42/48 | €44,993 | €25,347 | -€19,646 | -43.7% |
| Trade debts | 44 | €2,168 | €2,120 | -€48 | -2.2% |
| Suppliers | 440/4 | €2,168 | €2,120 | -€48 | -2.2% |
| Taxes, remuneration and social security | 45 | €42,181 | €19,286 | -€22,895 | -54.3% |
| Taxes | 450/3 | €23,999 | €19,005 | -€4,994 | -20.8% |
| Remuneration and social security | 454/9 | €18,182 | €280 | -€17,901 | -98.5% |
| Other amounts payable | 47/48 | €645 | €3,942 | +€3,297 | +511.3% |
| Remuneration, social security and pensions | 62 | €1,886 | €4,423 | +€2,536 | +134.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,201 | €3,302 | +€2,101 | +174.9% |
| Other operating charges | 640/8 | €1,868 | €205 | -€1,662 | -89.0% |
| Gross operating margin | 9900 | €88,393 | €50,857 | -€37,536 | -42.5% |
| Operating profit (loss) | 9901 | €83,438 | €42,927 | -€40,510 | -48.6% |
| Financial income | 75/76B | €463 | €700 | +€237 | +51.3% |
| Recurring financial income | 75 | €463 | €700 | +€237 | +51.3% |
| Financial charges | 65/66B | €1,469 | €965 | -€504 | -34.3% |
| Recurring financial charges | 65 | €1,469 | €965 | -€504 | -34.3% |
| Profit (loss) for the period before taxes | 9903 | €82,431 | €42,662 | -€39,770 | -48.2% |
| Income taxes | 67/77 | €22,837 | €14,928 | -€7,909 | -34.6% |
| Profit (loss) for the period | 9904 | €59,594 | €27,734 | -€31,860 | -53.5% |
| Profit (loss) for the period to be appropriated | 9905 | €59,594 | €27,734 | -€31,860 | -53.5% |
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 9 October 2026 via checked.be.