MABRI: 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.
MABRI
Largest movements
- Tangible fixed assets +€262,452
up €262,452 (+17.8%), from €1.5m to €1.7m
of which Plant, machinery and equipment: +€271,775
- Receivables within one year -€154,104
down €154,104 (-25.1%), from €613,728 to €459,625
of which Other amounts receivable: -€220,999
- Cash +€88,180
up €88,180 (+33.0%), from €266,864 to €355,044
mainly Debts after one year (+€390,432) and Net result for the year (+€250,372)
- Debts after one year +€390,432
up €390,432 (+60.9%), from €640,700 to €1.0m
- Current portion of long-term debt -€205,052
down €205,052 (-50.8%), from €403,321 to €198,268
- Reserves +€150,372
up €150,372 (+4.6%), from €3.3m to €3.4m
of which Distributable reserves: +€150,372
- Other debts -€70,226
down €70,226 (-35.0%), from €200,503 to €130,277
- Trade debts -€68,917
down €68,917 (-17.2%), from €400,543 to €331,626
- Staff costs +€47,316
up €47,316 (+5.2%), from €907,143 to €954,459
- Depreciation -€31,013
down €31,013 (-13.3%), from €232,986 to €201,973
- Gross operating margin +€16,238
up €16,238 (+1.1%), from €1.5m to €1.5m
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 | €5,170,715 | €5,375,807 | +€205,091 | +4.0% |
| Fixed assets | 21/28 | €3,639,521 | €3,901,656 | +€262,135 | +7.2% |
| Tangible fixed assets | 22/27 | €1,477,488 | €1,739,940 | +€262,452 | +17.8% |
| Land and buildings | 22 | €1,256,087 | €1,210,564 | -€45,524 | -3.6% |
| Plant, machinery and equipment | 23 | €96,761 | €368,536 | +€271,775 | +280.9% |
| Furniture and vehicles | 24 | €25,332 | €32,410 | +€7,077 | +27.9% |
| Other tangible fixed assets | 26 | €99,308 | €128,431 | +€29,123 | +29.3% |
| Financial fixed assets | 28 | €2,162,032 | €2,161,716 | -€316 | 0.0% |
| Current assets | 29/58 | €1,531,195 | €1,474,151 | -€57,044 | -3.7% |
| Amounts receivable after more than one year | 29 | €300,000 | €300,000 | = | 0.0% |
| Other amounts receivable | 291 | €300,000 | €300,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €332,784 | €342,251 | +€9,467 | +2.8% |
| Stocks | 30/36 | €332,784 | €342,251 | +€9,467 | +2.8% |
| Amounts receivable within one year | 40/41 | €613,728 | €459,625 | -€154,104 | -25.1% |
| Trade receivables | 40 | €120,954 | €187,850 | +€66,896 | +55.3% |
| Other amounts receivable | 41 | €492,774 | €271,775 | -€220,999 | -44.8% |
| Current investments | 50/53 | €4 | €0 | -€4 | -100.0% |
| Cash at bank and in hand | 54/58 | €266,864 | €355,044 | +€88,180 | +33.0% |
| Deferred charges and accrued income | 490/1 | €17,815 | €17,231 | -€584 | -3.3% |
| Total equity and liabilities | 10/49 | €5,170,715 | €5,375,807 | +€205,091 | +4.0% |
| Equity | 10/15 | €3,347,168 | €3,497,540 | +€150,372 | +4.5% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €3,272,168 | €3,422,540 | +€150,372 | +4.6% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €3,264,668 | €3,415,040 | +€150,372 | +4.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €1,823,547 | €1,878,267 | +€54,719 | +3.0% |
| Amounts payable after more than one year | 17 | €640,700 | €1,031,132 | +€390,432 | +60.9% |
| Financial debts | 170/4 | €640,700 | €1,031,132 | +€390,432 | +60.9% |
| Amounts payable within one year | 42/48 | €1,170,058 | €845,552 | -€324,506 | -27.7% |
| Current portion of amounts payable after more than one year | 42 | €403,321 | €198,268 | -€205,052 | -50.8% |
| Trade debts | 44 | €400,543 | €331,626 | -€68,917 | -17.2% |
| Suppliers | 440/4 | €400,543 | €331,626 | -€68,917 | -17.2% |
| Taxes, remuneration and social security | 45 | €165,691 | €185,381 | +€19,690 | +11.9% |
| Taxes | 450/3 | - | €8,746 | +€8,746 | |
| Remuneration and social security | 454/9 | €165,691 | €176,635 | +€10,945 | +6.6% |
| Other amounts payable | 47/48 | €200,503 | €130,277 | -€70,226 | -35.0% |
| Accrued charges and deferred income | 492/3 | €12,790 | €1,583 | -€11,207 | -87.6% |
| Remuneration, social security and pensions | 62 | €907,143 | €954,459 | +€47,316 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €232,986 | €201,973 | -€31,013 | -13.3% |
| Other operating charges | 640/8 | €6,980 | €16,141 | +€9,161 | +131.3% |
| Gross operating margin | 9900 | €1,464,269 | €1,480,507 | +€16,238 | +1.1% |
| Operating profit (loss) | 9901 | €317,160 | €307,935 | -€9,225 | -2.9% |
| Financial income | 75/76B | €72,309 | €58,920 | -€13,389 | -18.5% |
| Recurring financial income | 75 | €72,309 | €58,920 | -€13,389 | -18.5% |
| Financial charges | 65/66B | €57,357 | €58,894 | +€1,538 | +2.7% |
| Recurring financial charges | 65 | €57,357 | €58,894 | +€1,538 | +2.7% |
| Profit (loss) for the period before taxes | 9903 | €332,112 | €307,960 | -€24,152 | -7.3% |
| Income taxes | 67/77 | €51,176 | €57,588 | +€6,412 | +12.5% |
| Profit (loss) for the period | 9904 | €280,936 | €250,372 | -€30,565 | -10.9% |
| Profit (loss) for the period to be appropriated | 9905 | €280,936 | €250,372 | -€30,565 | -10.9% |
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 11 October 2026 via checked.be.