MB ADVISORY: 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.
MB ADVISORY
Largest movements
- Tangible fixed assets +€35,803
up €35,803 (+1056.1%), from €3,390 to €39,194
of which Furniture and vehicles: +€36,243
- Receivables within one year -€22,572
down €22,572 (-76.0%), from €29,686 to €7,115
of which Other amounts receivable: -€22,742
- Cash -€22,423
down €22,423 (-16.4%), from €136,552 to €114,130
mainly Contributions, distributions and other (-€189,519) and Investment in fixed assets (net) (-€47,328)
- Profit (loss) carried forward -€120,238
no longer reported in 2025 (was €120,238)
- Other debts +€89,461
new in 2025: €89,461
- Debts after one year +€14,842
new in 2025: €14,842
- Current portion of long-term debt +€9,181
new in 2025: €9,181
- Trade debts -€3,278
down €3,278 (-47.7%), from €6,874 to €3,597
- Gross operating margin +€36,411
up €36,411 (+55.5%), from €65,614 to €102,024
- Depreciation +€10,953
up €10,953 (+1916.9%), from €571 to €11,524
- Taxes +€5,679
up €5,679 (+45.0%), from €12,627 to €18,306
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 | €169,629 | €160,438 | -€9,191 | -5.4% |
| Fixed assets | 21/28 | €3,390 | €39,194 | +€35,803 | +1056.1% |
| Tangible fixed assets | 22/27 | €3,390 | €39,194 | +€35,803 | +1056.1% |
| Furniture and vehicles | 24 | €663 | €36,906 | +€36,243 | +5464.0% |
| Other tangible fixed assets | 26 | €2,727 | €2,287 | -€439 | -16.1% |
| Current assets | 29/58 | €166,238 | €121,244 | -€44,994 | -27.1% |
| Amounts receivable within one year | 40/41 | €29,686 | €7,115 | -€22,572 | -76.0% |
| Trade receivables | 40 | - | €170 | +€170 | |
| Other amounts receivable | 41 | €29,686 | €6,944 | -€22,742 | -76.6% |
| Cash at bank and in hand | 54/58 | €136,552 | €114,130 | -€22,423 | -16.4% |
| Total equity and liabilities | 10/49 | €169,629 | €160,438 | -€9,191 | -5.4% |
| Equity | 10/15 | €136,208 | €15,969 | -€120,238 | -88.3% |
| Reserves | 13 | €15,969 | €15,969 | = | 0.0% |
| Distributable reserves | 133 | €15,969 | €15,969 | = | 0.0% |
| Profit (loss) carried forward | 14 | €120,238 | - | -€120,238 | |
| Amounts payable | 17/49 | €33,421 | €144,469 | +€111,047 | +332.3% |
| Amounts payable after more than one year | 17 | - | €14,842 | +€14,842 | |
| Financial debts | 170/4 | - | €14,842 | +€14,842 | |
| Amounts payable within one year | 42/48 | €33,421 | €129,627 | +€96,205 | +287.9% |
| Current portion of amounts payable after more than one year | 42 | - | €9,181 | +€9,181 | |
| Trade debts | 44 | €6,874 | €3,597 | -€3,278 | -47.7% |
| Suppliers | 440/4 | €6,874 | €3,597 | -€3,278 | -47.7% |
| Taxes, remuneration and social security | 45 | €26,547 | €27,388 | +€841 | +3.2% |
| Taxes | 450/3 | €26,158 | €27,388 | +€1,230 | +4.7% |
| Remuneration and social security | 454/9 | €389 | - | -€389 | |
| Other amounts payable | 47/48 | - | €89,461 | +€89,461 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €571 | €11,524 | +€10,953 | +1916.9% |
| Other operating charges | 640/8 | €1,881 | €1,060 | -€821 | -43.7% |
| Gross operating margin | 9900 | €65,614 | €102,024 | +€36,411 | +55.5% |
| Operating profit (loss) | 9901 | €63,161 | €89,441 | +€26,279 | +41.6% |
| Financial charges | 65/66B | €2,616 | €1,854 | -€762 | -29.1% |
| Recurring financial charges | 65 | €2,616 | €1,854 | -€762 | -29.1% |
| Profit (loss) for the period before taxes | 9903 | €60,545 | €87,586 | +€27,042 | +44.7% |
| Income taxes | 67/77 | €12,627 | €18,306 | +€5,679 | +45.0% |
| Profit (loss) for the period | 9904 | €47,918 | €69,281 | +€21,363 | +44.6% |
| Profit (loss) for the period to be appropriated | 9905 | €47,918 | €69,281 | +€21,363 | +44.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.