MB: 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.
What changed
MB
NACE 46.610, Wholesale trade
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€454,012
2024 · €408,360+€45,652
Equity
€2.6m
2024 · €2.1m+€454,012
Cash
€224,286
2024 · €1.2m-€938,125
Balance sheet total
€10.7m
2024 · €6.2m+€4.5m
Largest movements
Assets
- Stocks and contracts +€3.8m
up €3.8m (+203.0%), from €1.9m to €5.7m
- Receivables within one year +€1.6m
up €1.6m (+103.5%), from €1.5m to €3.1m
of which Trade receivables: +€1.4m
- Cash -€938,125
down €938,125 (-80.7%), from €1.2m to €224,286
mainly Stocks and contracts (-€3.8m) and Receivables within one year (-€1.6m)
Equity and liabilities
- Trade debts +€4.0m
up €4.0m (+119.8%), from €3.3m to €7.3m
- Reserves +€454,012
up €454,012 (+21.4%), from €2.1m to €2.6m
- Accrued charges and deferred income +€114,660
new in 2025: €114,660
Income statement
- Turnover +€11.0m
new in 2025: €11.0m
- Goods and materials +€9.3m
new in 2025: €9.3m
of which Purchases: +€13.1m
- Gross operating margin -€991,171
no longer reported in 2025 (was €991,171)
- Services and other goods +€754,997
new in 2025: €754,997
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.
Result 2024
€408,360
Turnover
+€11.0m
Other operating income
+€52,422
Goods and materials
-€9.3m
Services and other goods
-€754,997
Staff costs
+€5,229
Depreciation
-€493
Write-downs
-€27,297
Other operating charges
-€8,106
Other operating items
-€991,171
Financial income
+€22,286
Financial charges
+€7,675
Taxes
-€9,073
Result 2025
€454,012
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.
From operations
-€876,028
Investment
-€62,097
Financing
€0
Cash 2024
€1.2m
From operations (derived)
-€876,028
Net result for the year
+€454,012
Depreciation
+€34,044
Stocks and contracts
-€3.8m
Receivables within one year
-€1.6m
Deferred charges and accrued income
-€3,452
Trade debts
+€4.0m
Tax, wage and social debts
-€90,814
Accrued charges and deferred income
+€114,660
Investment (derived)
-€62,097
Investment in fixed assets (net)
-€62,097
Cash 2025
€224,286
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,182,960 | €10,664,535 | +€4.5m | +72.5% |
| Fixed assets | 21/28 | €848,990 | €877,043 | +€28,053 | +3.3% |
| Intangible fixed assets | 21 | €4,701 | €2,005 | -€2,695 | -57.3% |
| Tangible fixed assets | 22/27 | €71,539 | €102,288 | +€30,748 | +43.0% |
| Plant, machinery and equipment | 23 | €15,847 | €16,620 | +€773 | +4.9% |
| Furniture and vehicles | 24 | €55,692 | €72,513 | +€16,821 | +30.2% |
| Other tangible fixed assets | 26 | - | €13,155 | +€13,155 | |
| Financial fixed assets | 28 | €772,750 | €772,750 | = | 0.0% |
| Affiliated companies | 280/1 | - | €750,000 | +€750,000 | |
| Participating interests | 280 | - | €750,000 | +€750,000 | |
| Other financial fixed assets | 284/8 | - | €22,750 | +€22,750 | |
| Amounts receivable and cash guarantees | 285/8 | - | €22,750 | +€22,750 | |
| Current assets | 29/58 | €5,333,970 | €9,787,491 | +€4.5m | +83.5% |
| Amounts receivable after more than one year | 29 | €750,000 | €750,000 | = | 0.0% |
| Trade receivables | 290 | €750,000 | €750,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €1,880,397 | €5,696,731 | +€3.8m | +203.0% |
| Stocks | 30/36 | €1,880,397 | €5,696,731 | +€3.8m | +203.0% |
| Goods purchased for resale | 34 | - | €5,696,731 | +€5.7m | |
| Amounts receivable within one year | 40/41 | €1,519,420 | €3,091,280 | +€1.6m | +103.5% |
| Trade receivables | 40 | €1,414,180 | €2,856,877 | +€1.4m | +102.0% |
| Other amounts receivable | 41 | €105,240 | €234,403 | +€129,163 | +122.7% |
| Cash at bank and in hand | 54/58 | €1,162,410 | €224,286 | -€938,125 | -80.7% |
| Deferred charges and accrued income | 490/1 | €21,743 | €25,194 | +€3,452 | +15.9% |
| Total equity and liabilities | 10/49 | €6,182,960 | €10,664,535 | +€4.5m | +72.5% |
| Equity | 10/15 | €2,138,927 | €2,592,939 | +€454,012 | +21.2% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €2,123,927 | €2,577,939 | +€454,012 | +21.4% |
| Distributable reserves | 133 | €2,123,927 | €2,577,939 | +€454,012 | +21.4% |
| Amounts payable | 17/49 | €4,044,033 | €8,071,596 | +€4.0m | +99.6% |
| Amounts payable within one year | 42/48 | €4,044,033 | €7,956,936 | +€3.9m | +96.8% |
| Trade debts | 44 | €3,340,972 | €7,344,689 | +€4.0m | +119.8% |
| Suppliers | 440/4 | €3,340,972 | €7,344,689 | +€4.0m | +119.8% |
| Taxes, remuneration and social security | 45 | €703,061 | €612,247 | -€90,814 | -12.9% |
| Taxes | 450/3 | €668,293 | €578,211 | -€90,082 | -13.5% |
| Remuneration and social security | 454/9 | €34,768 | €34,036 | -€733 | -2.1% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | - | €114,660 | +€114,660 | |
| Operating income | 70/76A | - | €11,094,283 | +€11.1m | |
| Turnover | 70 | - | €11,041,861 | +€11.0m | |
| Other operating income | 74 | - | €52,422 | +€52,422 | |
| Operating charges | 60/66A | - | €10,496,801 | +€10.5m | |
| Goods for resale, raw materials and consumables | 60 | - | €9,292,682 | +€9.3m | |
| Purchases | 600/8 | - | €13,109,016 | +€13.1m | |
| Change in stocks: decrease (increase) | 609 | - | -€3,816,334 | -€3.8m | |
| Services and other goods | 61 | - | €754,997 | +€754,997 | |
| Remuneration, social security and pensions | 62 | €383,710 | €378,481 | -€5,229 | -1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,551 | €34,044 | +€493 | +1.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €27,297 | +€27,297 | |
| Other operating charges | 640/8 | €1,193 | €9,299 | +€8,106 | +679.4% |
| Gross operating margin | 9900 | €991,171 | - | -€991,171 | |
| Operating profit (loss) | 9901 | €572,717 | €597,482 | +€24,764 | +4.3% |
| Financial income | 75/76B | €248 | €22,534 | +€22,286 | +8990.0% |
| Recurring financial income | 75 | €248 | €22,534 | +€22,286 | +8990.0% |
| Income from current assets | 751 | - | €22,500 | +€22,500 | |
| Other financial income | 752/9 | - | €34 | +€34 | |
| Financial charges | 65/66B | €7,898 | €223 | -€7,675 | -97.2% |
| Recurring financial charges | 65 | €7,898 | €223 | -€7,675 | -97.2% |
| Debt charges | 650 | - | €223 | +€223 | |
| Other financial charges | 652/9 | - | €0 | = | |
| Profit (loss) for the period before taxes | 9903 | €565,068 | €619,793 | +€54,725 | +9.7% |
| Income taxes | 67/77 | €156,708 | €165,781 | +€9,073 | +5.8% |
| Taxes | 670/3 | - | €165,781 | +€165,781 | |
| Profit (loss) for the period | 9904 | €408,360 | €454,012 | +€45,652 | +11.2% |
| Profit (loss) for the period to be appropriated | 9905 | €408,360 | €454,012 | +€45,652 | +11.2% |
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 10 October 2026 via checked.be.