M-PIBOX: 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-PIBOX
Largest movements
- Tangible fixed assets -€20,376
down €20,376 (-18.6%), from €109,405 to €89,029
of which Furniture and vehicles: -€20,779
- Cash -€15,030
down €15,030 (-60.6%), from €24,801 to €9,771
mainly Tax, wage and social debts (-€53,523) and Contributions, distributions and other (-€15,000)
- Receivables within one year +€6,348
up €6,348 (+26.3%), from €24,164 to €30,512
of which Other amounts receivable: +€3,266
- Tax, wage and social debts -€53,523
no longer reported in 2025 (was €53,523)
- Other debts +€27,975
up €27,975 (+46.2%), from €60,527 to €88,502
- Reserves +€17,341
new in 2025: €17,341
- Trade debts -€10,834
down €10,834 (-81.5%), from €13,294 to €2,460
- Debts after one year -€10,175
down €10,175 (-51.9%), from €19,613 to €9,439
- Gross operating margin +€32,307
up €32,307 (+43.6%), from €74,162 to €106,469
- Financial charges -€19,047
down €19,047 (-30.7%), from €61,998 to €42,951
- Depreciation +€2,713
up €2,713 (+11.8%), from €22,995 to €25,708
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 | €158,760 | €129,916 | -€28,844 | -18.2% |
| Fixed assets | 21/28 | €109,405 | €89,029 | -€20,376 | -18.6% |
| Tangible fixed assets | 22/27 | €109,405 | €89,029 | -€20,376 | -18.6% |
| Land and buildings | 22 | €61,411 | €59,351 | -€2,060 | -3.4% |
| Plant, machinery and equipment | 23 | €6,734 | €9,197 | +€2,463 | +36.6% |
| Furniture and vehicles | 24 | €41,260 | €20,481 | -€20,779 | -50.4% |
| Current assets | 29/58 | €49,355 | €40,888 | -€8,467 | -17.2% |
| Amounts receivable within one year | 40/41 | €24,164 | €30,512 | +€6,348 | +26.3% |
| Trade receivables | 40 | €24,164 | €27,246 | +€3,082 | +12.8% |
| Other amounts receivable | 41 | - | €3,266 | +€3,266 | |
| Cash at bank and in hand | 54/58 | €24,801 | €9,771 | -€15,030 | -60.6% |
| Deferred charges and accrued income | 490/1 | €390 | €605 | +€215 | +55.0% |
| Total equity and liabilities | 10/49 | €158,760 | €129,916 | -€28,844 | -18.2% |
| Equity | 10/15 | €2,000 | €19,341 | +€17,341 | +867% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | - | €17,341 | +€17,341 | |
| Distributable reserves | 133 | - | €17,341 | +€17,341 | |
| Amounts payable | 17/49 | €156,760 | €110,575 | -€46,185 | -29.5% |
| Amounts payable after more than one year | 17 | €19,613 | €9,439 | -€10,175 | -51.9% |
| Financial debts | 170/4 | €19,613 | €9,439 | -€10,175 | -51.9% |
| Amounts payable within one year | 42/48 | €137,147 | €101,137 | -€36,010 | -26.3% |
| Current portion of amounts payable after more than one year | 42 | €9,803 | €10,175 | +€372 | +3.8% |
| Trade debts | 44 | €13,294 | €2,460 | -€10,834 | -81.5% |
| Suppliers | 440/4 | €13,294 | €2,460 | -€10,834 | -81.5% |
| Taxes, remuneration and social security | 45 | €53,523 | - | -€53,523 | |
| Taxes | 450/3 | €53,523 | - | -€53,523 | |
| Other amounts payable | 47/48 | €60,527 | €88,502 | +€27,975 | +46.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,995 | €25,708 | +€2,713 | +11.8% |
| Other operating charges | 640/8 | €786 | €741 | -€45 | -5.8% |
| Gross operating margin | 9900 | €74,162 | €106,469 | +€32,307 | +43.6% |
| Operating profit (loss) | 9901 | €50,381 | €80,020 | +€29,639 | +58.8% |
| Financial charges | 65/66B | €61,998 | €42,951 | -€19,047 | -30.7% |
| Recurring financial charges | 65 | €61,998 | €42,951 | -€19,047 | -30.7% |
| Profit (loss) for the period before taxes | 9903 | -€11,617 | €37,069 | +€48,686 | |
| Income taxes | 67/77 | €4,560 | €4,728 | +€168 | +3.7% |
| Profit (loss) for the period | 9904 | -€16,177 | €32,341 | +€48,518 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,177 | €32,341 | +€48,518 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.