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MB Finance: 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 Finance

BE 1003.554.080
NACE 70.100, Activities of head offices
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€26,608
2024 · €6,408-€33,016
Equity
-€17,200
2024 · €9,408-€26,608
Cash
€12,377
2024 · €10,779+€1,598
Balance sheet total
€315,035
2024 · €47,173+€267,863

Largest movements

2024 to 2025
Assets
  • Tangible fixed assets +€266,720

    up €266,720 (+752%), from €35,449 to €302,170

    of which Land and buildings: +€263,774

Equity and liabilities
  • Debts after one year +€207,458

    up €207,458 (+1,541%), from €13,459 to €220,916

  • Other debts +€73,701

    up €73,701 (+1,631%), from €4,519 to €78,220

  • Profit (loss) carried forward -€26,608

    new in 2025: -€26,608

  • Current portion of long-term debt +€13,069

    up €13,069 (+214%), from €6,119 to €19,187

Income statement
  • Depreciation +€41,933

    up €41,933 (+554%), from €7,574 to €49,507

  • Gross operating margin +€11,113

    up €11,113 (+57.4%), from €19,356 to €30,468

  • Financial charges +€5,892

    up €5,892 (+539%), from €1,092 to €6,984

  • Taxes -€3,445

    down €3,445 (-91.0%), from €3,787 to €343

From the 2024 result to the 2025 result

effect on the 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 €6,408
Gross operating margin +€11,113
Depreciation -€41,933
Other operating charges +€249
Financial income +€2
Financial charges -€5,892
Taxes +€3,445
Result 2025 -€26,608
raises the resultlowers the result

Derived cash bridge

cash 2024 to 2025

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 +€97,065
Investment -€316,227
Financing +€220,760
Cash 2024 €10,779
Net result for the year -€26,608
Depreciation +€49,507
Smaller working-capital items +€465
Other debts +€73,701
Investment in fixed assets (net) -€316,227
Debts after one year +€207,458
Current portion of long-term debt +€13,069
Short-term financial debts +€234
Cash 2025 €12,377
brings cash intakes cash out
Every line side by side 42 lines
Line Code 2024 2025 Change %
Total assets 20/58 €47,173 €315,035 +€267,863 +568%
Fixed assets 21/28 €35,449 €302,170 +€266,720 +752%
Tangible fixed assets 22/27 €35,449 €302,170 +€266,720 +752%
Land and buildings 22 €11,282 €275,056 +€263,774 +2,338%
Furniture and vehicles 24 €24,168 €27,114 +€2,946 +12.2%
Current assets 29/58 €11,723 €12,866 +€1,142 +9.7%
Amounts receivable within one year 40/41 €625 €169 -€456 -73.0%
Trade receivables 40 €605 €149 -€456 -75.4%
Other amounts receivable 41 €20 €20 = 0.0%
Cash at bank and in hand 54/58 €10,779 €12,377 +€1,598 +14.8%
Deferred charges and accrued income 490/1 €320 €320 = 0.0%
Total equity and liabilities 10/49 €47,173 €315,035 +€267,863 +568%
Equity 10/15 €9,408 -€17,200 -€26,608
Contributions 10/11 €3,000 €3,000 = 0.0%
Reserves 13 €6,408 €6,408 = 0.0%
Distributable reserves 133 €6,408 €6,408 = 0.0%
Profit (loss) carried forward 14 - -€26,608 -€26,608
Amounts payable 17/49 €37,765 €332,235 +€294,471 +780%
Amounts payable after more than one year 17 €13,459 €220,916 +€207,458 +1,541%
Financial debts 170/4 €13,459 €220,916 +€207,458 +1,541%
Amounts payable within one year 42/48 €24,306 €111,319 +€87,013 +358%
Current portion of amounts payable after more than one year 42 €6,119 €19,187 +€13,069 +214%
Financial debts 43 - €234 +€234
Credit institutions 430/8 - €234 +€234
Trade debts 44 €979 €607 -€372 -38.0%
Suppliers 440/4 €979 €607 -€372 -38.0%
Taxes, remuneration and social security 45 €12,690 €13,071 +€381 +3.0%
Taxes 450/3 €12,690 €13,071 +€381 +3.0%
Other amounts payable 47/48 €4,519 €78,220 +€73,701 +1,631%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets 630 €7,574 €49,507 +€41,933 +554%
Other operating charges 640/8 €494 €245 -€249 -50.4%
Gross operating margin 9900 €19,356 €30,468 +€11,113 +57.4%
Operating profit (loss) 9901 €11,288 -€19,283 -€30,571
Financial income 75/76B €0 €2 +€2 +4,825%
Recurring financial income 75 €0 €2 +€2 +4,825%
Non-recurring financial income 76B €0 - -€0
Financial charges 65/66B €1,092 €6,984 +€5,892 +539%
Recurring financial charges 65 €1,092 €6,984 +€5,892 +539%
Profit (loss) for the period before taxes 9903 €10,196 -€26,265 -€36,461
Income taxes 67/77 €3,787 €343 -€3,445 -91.0%
Profit (loss) for the period 9904 €6,408 -€26,608 -€33,016
Profit (loss) for the period to be appropriated 9905 €6,408 -€26,608 -€33,016

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 20 October 2026 via checked.be.