MB Express: 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 Express
Largest movements
- Stocks and contracts -€84,299
no longer reported in 2025 (was €84,299)
- Cash -€66,431
down €66,431 (-81.8%), from €81,180 to €14,749
mainly Net result for the year (-€57,586) and Trade debts (-€48,475)
- Deferred charges and accrued income -€10,046
down €10,046 (-94.0%), from €10,691 to €645
- Receivables within one year +€9,881
up €9,881 (+332%), from €2,977 to €12,858
- Profit (loss) carried forward -€57,586
down €57,586 (-20.7%), from -€278,223 to -€335,809
- Trade debts -€48,475
down €48,475 (-11.4%), from €424,794 to €376,319
- Other debts -€18,608
no longer reported in 2025 (was €18,608)
- Tax, wage and social debts -€17,409
down €17,409 (-96.9%), from €17,960 to €551
of which Remuneration and social security: -€16,771
- Current portion of long-term debt -€8,873
no longer reported in 2025 (was €8,873)
- Staff costs -€147,875
down €147,875 (-85.8%), from €172,356 to €24,481
- Gross operating margin -€98,757
down €98,757, from €69,608 to -€29,149
- Financial charges -€21,704
down €21,704 (-93.3%), from €23,275 to €1,571
- Other operating charges -€6,703
down €6,703 (-75.5%), from €8,877 to €2,174
- Financial income -€1,490
down €1,490 (-79.0%), from €1,886 to €396
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 | €244,054 | €93,103 | -€150,951 | -61.9% |
| Fixed assets | 21/28 | €64,908 | €64,850 | -€58 | -0.1% |
| Tangible fixed assets | 22/27 | €58 | - | -€58 | |
| Plant, machinery and equipment | 23 | €58 | - | -€58 | |
| Financial fixed assets | 28 | €64,850 | €64,850 | = | 0.0% |
| Current assets | 29/58 | €179,146 | €28,252 | -€150,894 | -84.2% |
| Stocks and contracts in progress | 3 | €84,299 | - | -€84,299 | |
| Stocks | 30/36 | €84,299 | - | -€84,299 | |
| Amounts receivable within one year | 40/41 | €2,977 | €12,858 | +€9,881 | +332% |
| Other amounts receivable | 41 | €2,977 | €12,858 | +€9,881 | +332% |
| Cash at bank and in hand | 54/58 | €81,180 | €14,749 | -€66,431 | -81.8% |
| Deferred charges and accrued income | 490/1 | €10,691 | €645 | -€10,046 | -94.0% |
| Total equity and liabilities | 10/49 | €244,054 | €93,103 | -€150,951 | -61.9% |
| Equity | 10/15 | -€226,180 | -€283,766 | -€57,586 | -25.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €33,443 | €33,443 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €31,583 | €31,583 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€278,223 | -€335,809 | -€57,586 | -20.7% |
| Amounts payable | 17/49 | €470,235 | €376,869 | -€93,365 | -19.9% |
| Amounts payable within one year | 42/48 | €470,235 | €376,869 | -€93,365 | -19.9% |
| Current portion of amounts payable after more than one year | 42 | €8,873 | - | -€8,873 | |
| Trade debts | 44 | €424,794 | €376,319 | -€48,475 | -11.4% |
| Suppliers | 440/4 | €424,794 | €376,319 | -€48,475 | -11.4% |
| Taxes, remuneration and social security | 45 | €17,960 | €551 | -€17,409 | -96.9% |
| Taxes | 450/3 | €1,188 | €551 | -€638 | -53.7% |
| Remuneration and social security | 454/9 | €16,771 | - | -€16,771 | |
| Other amounts payable | 47/48 | €18,608 | - | -€18,608 | |
| Remuneration, social security and pensions | 62 | €172,356 | €24,481 | -€147,875 | -85.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €128 | - | -€128 | |
| Other operating charges | 640/8 | €8,877 | €2,174 | -€6,703 | -75.5% |
| Non-recurring operating charges | 66A | - | €57 | +€57 | |
| Gross operating margin | 9900 | €69,608 | -€29,149 | -€98,757 | |
| Operating profit (loss) | 9901 | -€111,753 | -€55,861 | +€55,892 | +50.0% |
| Financial income | 75/76B | €1,886 | €396 | -€1,490 | -79.0% |
| Recurring financial income | 75 | €1,886 | €396 | -€1,490 | -79.0% |
| Financial charges | 65/66B | €23,275 | €1,571 | -€21,704 | -93.3% |
| Recurring financial charges | 65 | €23,275 | €1,571 | -€21,704 | -93.3% |
| Profit (loss) for the period before taxes | 9903 | -€133,142 | -€57,035 | +€76,106 | +57.2% |
| Income taxes | 67/77 | €1,056 | €551 | -€506 | -47.9% |
| Profit (loss) for the period | 9904 | -€134,198 | -€57,586 | +€76,612 | +57.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€134,198 | -€57,586 | +€76,612 | +57.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.