MB Brussels: 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 Brussels
Largest movements
- Cash +€27,690
up €27,690 (+69.0%), from €40,119 to €67,810
mainly Tax, wage and social debts (+€149,151) and Other debts (+€118,963)
- Stocks and contracts -€25,000
down €25,000 (-19.4%), from €129,080 to €104,080
- Tangible fixed assets -€14,594
down €14,594 (-18.3%), from €79,808 to €65,214
- Profit (loss) carried forward -€217,381
down €217,381 (-433%), from -€50,186 to -€267,566
- Tax, wage and social debts +€149,151
up €149,151 (+81.6%), from €182,761 to €331,912
of which Taxes: +€107,078
- Other debts +€118,963
up €118,963 (+76.0%), from €156,582 to €275,546
- Debts after one year -€58,460
down €58,460 (-24.8%), from €235,277 to €176,816
- Gross operating margin -€135,133
down €135,133 (-85.1%), from €158,848 to €23,716
- Financial income +€111,796
up €111,796 (+574%), from €19,487 to €131,282
of which Financial income: +€111,796
- Staff costs +€75,951
up €75,951 (+37.7%), from €201,594 to €277,546
- Taxes +€41,398
new in 2025: €41,398
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 | €1,115,511 | €1,111,777 | -€3,734 | -0.3% |
| Fixed assets | 21/28 | €706,808 | €692,214 | -€14,594 | -2.1% |
| Tangible fixed assets | 22/27 | €79,808 | €65,214 | -€14,594 | -18.3% |
| Other tangible fixed assets | 26 | €79,808 | €65,214 | -€14,594 | -18.3% |
| Financial fixed assets | 28 | €627,000 | €627,000 | = | 0.0% |
| Current assets | 29/58 | €408,703 | €419,563 | +€10,860 | +2.7% |
| Stocks and contracts in progress | 3 | €129,080 | €104,080 | -€25,000 | -19.4% |
| Stocks | 30/36 | €129,080 | €104,080 | -€25,000 | -19.4% |
| Amounts receivable within one year | 40/41 | €157,492 | €165,662 | +€8,170 | +5.2% |
| Trade receivables | 40 | €113,229 | €34,207 | -€79,022 | -69.8% |
| Other amounts receivable | 41 | €44,264 | €131,455 | +€87,192 | +197% |
| Cash at bank and in hand | 54/58 | €40,119 | €67,810 | +€27,690 | +69.0% |
| Deferred charges and accrued income | 490/1 | €82,012 | €82,012 | = | 0.0% |
| Total equity and liabilities | 10/49 | €1,115,511 | €1,111,777 | -€3,734 | -0.3% |
| Equity | 10/15 | €250,491 | €33,111 | -€217,381 | -86.8% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Capital | 10 | €150,000 | €150,000 | = | 0.0% |
| Issued capital | 100 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €150,677 | €150,677 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Legal reserve | 130 | €15,000 | €15,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €135,677 | €135,677 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€50,186 | -€267,566 | -€217,381 | -433% |
| Amounts payable | 17/49 | €865,020 | €1,078,667 | +€213,647 | +24.7% |
| Amounts payable after more than one year | 17 | €235,277 | €176,816 | -€58,460 | -24.8% |
| Financial debts | 170/4 | €235,277 | €176,816 | -€58,460 | -24.8% |
| Amounts payable within one year | 42/48 | €629,743 | €901,850 | +€272,107 | +43.2% |
| Current portion of amounts payable after more than one year | 42 | €57,002 | €58,760 | +€1,758 | +3.1% |
| Trade debts | 44 | €233,398 | €235,632 | +€2,234 | +1.0% |
| Suppliers | 440/4 | €233,398 | €235,632 | +€2,234 | +1.0% |
| Taxes, remuneration and social security | 45 | €182,761 | €331,912 | +€149,151 | +81.6% |
| Taxes | 450/3 | €167,025 | €274,103 | +€107,078 | +64.1% |
| Remuneration and social security | 454/9 | €15,736 | €57,809 | +€42,073 | +267% |
| Other amounts payable | 47/48 | €156,582 | €275,546 | +€118,963 | +76.0% |
| Remuneration, social security and pensions | 62 | €201,594 | €277,546 | +€75,951 | +37.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,904 | €14,594 | -€310 | -2.1% |
| Other operating charges | 640/8 | €2,548 | €2,198 | -€350 | -13.7% |
| Non-recurring operating charges | 66A | - | €200 | +€200 | |
| Gross operating margin | 9900 | €158,848 | €23,716 | -€135,133 | -85.1% |
| Operating profit (loss) | 9901 | -€60,198 | -€270,822 | -€210,625 | -350% |
| Financial income | 75/76B | €19,487 | €131,282 | +€111,796 | +574% |
| Recurring financial income | 75 | €19,487 | €131,282 | +€111,796 | +574% |
| Non-recurring financial income | 76B | €19,487 | €131,282 | +€111,796 | +574% |
| Financial charges | 65/66B | €35,825 | €36,443 | +€618 | +1.7% |
| Recurring financial charges | 65 | €35,825 | €36,443 | +€618 | +1.7% |
| Profit (loss) for the period before taxes | 9903 | -€76,536 | -€175,983 | -€99,447 | -130% |
| Income taxes | 67/77 | - | €41,398 | +€41,398 | |
| Profit (loss) for the period | 9904 | -€76,536 | -€217,381 | -€140,845 | -184% |
| Profit (loss) for the period to be appropriated | 9905 | -€76,536 | -€217,381 | -€140,845 | -184% |
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 14 October 2026 via checked.be.