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.
MB
Largest movements
- Cash +€133,854
up €133,854 (+98.5%), from €135,871 to €269,725
mainly Net result for the year (+€204,342) and Current portion of long-term debt (+€24,217)
- Tangible fixed assets +€59,363
up €59,363 (+83.3%), from €71,283 to €130,646
of which Furniture and vehicles: +€57,463
- Receivables within one year +€52,512
up €52,512 (+168%), from €31,197 to €83,709
- Profit (loss) carried forward +€204,342
up €204,342 (+179%), from €114,369 to €318,711
- Trade debts -€25,910
down €25,910 (-97.8%), from €26,483 to €573
- Current portion of long-term debt +€24,217
new in 2025: €24,217
- Other debts +€23,518
up €23,518 (+964%), from €2,440 to €25,957
- Tax, wage and social debts +€14,489
up €14,489 (+29.3%), from €49,495 to €63,983
of which Taxes: +€24,541
- Gross operating margin +€160,527
up €160,527 (+118%), from €135,871 to €296,398
- Taxes +€37,849
up €37,849 (+145%), from €26,134 to €63,983
- Depreciation +€4,486
up €4,486 (+33.1%), from €13,549 to €18,035
- Staff costs +€3,380
new in 2025: €3,380
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 | €246,751 | €493,169 | +€246,418 | +99.9% |
| Fixed assets | 21/28 | €79,683 | €138,656 | +€58,973 | +74.0% |
| Tangible fixed assets | 22/27 | €71,283 | €130,646 | +€59,363 | +83.3% |
| Land and buildings | 22 | €22,678 | €20,274 | -€2,404 | -10.6% |
| Plant, machinery and equipment | 23 | €2,972 | €7,275 | +€4,304 | +145% |
| Furniture and vehicles | 24 | €45,634 | €103,097 | +€57,463 | +126% |
| Financial fixed assets | 28 | €8,400 | €8,010 | -€390 | -4.6% |
| Current assets | 29/58 | €167,068 | €354,513 | +€187,445 | +112% |
| Amounts receivable within one year | 40/41 | €31,197 | €83,709 | +€52,512 | +168% |
| Trade receivables | 40 | €31,197 | €83,709 | +€52,512 | +168% |
| Cash at bank and in hand | 54/58 | €135,871 | €269,725 | +€133,854 | +98.5% |
| Deferred charges and accrued income | 490/1 | - | €1,079 | +€1,079 | |
| Total equity and liabilities | 10/49 | €246,751 | €493,169 | +€246,418 | +99.9% |
| Equity | 10/15 | €115,869 | €320,211 | +€204,342 | +176% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €114,369 | €318,711 | +€204,342 | +179% |
| Amounts payable | 17/49 | €130,882 | €172,958 | +€42,076 | +32.1% |
| Amounts payable after more than one year | 17 | €50,000 | €58,227 | +€8,227 | +16.5% |
| Financial debts | 170/4 | €50,000 | €58,227 | +€8,227 | +16.5% |
| Amounts payable within one year | 42/48 | €78,418 | €114,731 | +€36,313 | +46.3% |
| Current portion of amounts payable after more than one year | 42 | - | €24,217 | +€24,217 | |
| Trade debts | 44 | €26,483 | €573 | -€25,910 | -97.8% |
| Suppliers | 440/4 | €26,483 | €573 | -€25,910 | -97.8% |
| Taxes, remuneration and social security | 45 | €49,495 | €63,983 | +€14,489 | +29.3% |
| Taxes | 450/3 | €39,443 | €63,983 | +€24,541 | +62.2% |
| Remuneration and social security | 454/9 | €10,052 | - | -€10,052 | |
| Other amounts payable | 47/48 | €2,440 | €25,957 | +€23,518 | +964% |
| Accrued charges and deferred income | 492/3 | €2,464 | - | -€2,464 | |
| Remuneration, social security and pensions | 62 | - | €3,380 | +€3,380 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,549 | €18,035 | +€4,486 | +33.1% |
| Other operating charges | 640/8 | €2,713 | €3,661 | +€948 | +34.9% |
| Gross operating margin | 9900 | €135,871 | €296,398 | +€160,527 | +118% |
| Operating profit (loss) | 9901 | €119,610 | €271,322 | +€151,712 | +127% |
| Financial income | 75/76B | €18 | €21 | +€3 | +19.3% |
| Recurring financial income | 75 | €18 | €21 | +€3 | +19.3% |
| Financial charges | 65/66B | €2,279 | €3,018 | +€739 | +32.4% |
| Recurring financial charges | 65 | €2,279 | €3,018 | +€739 | +32.4% |
| Profit (loss) for the period before taxes | 9903 | €117,348 | €268,325 | +€150,977 | +129% |
| Income taxes | 67/77 | €26,134 | €63,983 | +€37,849 | +145% |
| Profit (loss) for the period | 9904 | €91,214 | €204,342 | +€113,128 | +124% |
| Profit (loss) for the period to be appropriated | 9905 | €91,214 | €204,342 | +€113,128 | +124% |
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 25 October 2026 via checked.be.