MABD: what changed
Two fiscal 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.
MABD
Largest movements
- Tangible fixed assets +€23,916
up €23,916 (+573.8%), from €4,168 to €28,085
- Receivables within one year -€23,119
down €23,119 (-15.2%), from €152,540 to €129,421
of which Other amounts receivable: -€21,846
- Cash -€6,117
down €6,117 (-39.2%), from €15,617 to €9,500
mainly Net result for the year (-€101,990) and Investment in fixed assets (net) (-€27,596)
- Deferred charges and accrued income -€3,757
down €3,757 (-40.8%), from €9,215 to €5,458
- Profit (loss) carried forward -€101,990
down €101,990 (-22.3%), from -€457,703 to -€559,693
- Trade debts +€82,741
up €82,741 (+55.7%), from €148,632 to €231,373
- Accrued charges and deferred income +€9,981
up €9,981 (+56.9%), from €17,537 to €27,518
- Staff costs +€12,097
up €12,097 (+13.2%), from €91,309 to €103,406
- Financial income +€3,708
up €3,708 (+810.0%), from €458 to €4,165
- Depreciation +€3,140
up €3,140 (+581.1%), from €540 to €3,680
- Other operating charges -€886
down €886 (-52.3%), from €1,694 to €808
- Gross operating margin -€745
down €745 (-27.7%), from €2,687 to €1,941
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 | €181,539 | €172,463 | -€9,076 | -5.0% |
| Fixed assets | 21/28 | €4,168 | €28,085 | +€23,916 | +573.8% |
| Tangible fixed assets | 22/27 | €4,168 | €28,085 | +€23,916 | +573.8% |
| Furniture and vehicles | 24 | €4,168 | €28,085 | +€23,916 | +573.8% |
| Current assets | 29/58 | €177,371 | €144,379 | -€32,992 | -18.6% |
| Amounts receivable within one year | 40/41 | €152,540 | €129,421 | -€23,119 | -15.2% |
| Trade receivables | 40 | €129,899 | €128,627 | -€1,273 | -1.0% |
| Other amounts receivable | 41 | €22,640 | €794 | -€21,846 | -96.5% |
| Cash at bank and in hand | 54/58 | €15,617 | €9,500 | -€6,117 | -39.2% |
| Deferred charges and accrued income | 490/1 | €9,215 | €5,458 | -€3,757 | -40.8% |
| Total equity and liabilities | 10/49 | €181,539 | €172,463 | -€9,076 | -5.0% |
| Equity | 10/15 | €9,797 | -€92,193 | -€101,990 | |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €392,500 | €392,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €385,000 | €385,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€457,703 | -€559,693 | -€101,990 | -22.3% |
| Amounts payable | 17/49 | €171,742 | €264,656 | +€92,914 | +54.1% |
| Amounts payable within one year | 42/48 | €154,205 | €237,138 | +€82,933 | +53.8% |
| Trade debts | 44 | €148,632 | €231,373 | +€82,741 | +55.7% |
| Suppliers | 440/4 | €148,632 | €231,373 | +€82,741 | +55.7% |
| Taxes, remuneration and social security | 45 | €5,573 | €5,766 | +€192 | +3.5% |
| Remuneration and social security | 454/9 | €5,573 | €5,766 | +€192 | +3.5% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €17,537 | €27,518 | +€9,981 | +56.9% |
| Remuneration, social security and pensions | 62 | €91,309 | €103,406 | +€12,097 | +13.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €540 | €3,680 | +€3,140 | +581.1% |
| Other operating charges | 640/8 | €1,694 | €808 | -€886 | -52.3% |
| Gross operating margin | 9900 | €2,687 | €1,941 | -€745 | -27.7% |
| Operating profit (loss) | 9901 | -€90,857 | -€105,953 | -€15,096 | -16.6% |
| Financial income | 75/76B | €458 | €4,165 | +€3,708 | +810.0% |
| Recurring financial income | 75 | €458 | €4,165 | +€3,708 | +810.0% |
| Financial charges | 65/66B | €382 | €202 | -€180 | -47.0% |
| Recurring financial charges | 65 | €382 | €202 | -€180 | -47.0% |
| Profit (loss) for the period before taxes | 9903 | -€90,781 | -€101,990 | -€11,209 | -12.3% |
| Profit (loss) for the period | 9904 | -€90,781 | -€101,990 | -€11,209 | -12.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€90,781 | -€101,990 | -€11,209 | -12.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.