MB Genappe: 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 Genappe
Largest movements
- Cash +€204,358
up €204,358 (+52.6%), from €388,623 to €592,981
mainly Advances received (+€232,877) and Debts after one year (+€100,900)
- Receivables within one year +€53,784
up €53,784 (+258.7%), from €20,792 to €74,576
of which Trade receivables: +€51,009
- Advances received +€232,877
up €232,877 (+77.3%), from €301,173 to €534,050
- Debts after one year +€100,900
new in 2025: €100,900
- Profit (loss) carried forward -€66,830
down €66,830, from €12,928 to -€53,902
- Current portion of long-term debt +€28,480
new in 2025: €28,480
- Trade debts -€16,100
down €16,100 (-34.8%), from €46,319 to €30,219
- Gross operating margin -€46,283
down €46,283 (-27.5%), from €168,112 to €121,828
- Staff costs +€44,665
up €44,665 (+31.7%), from €140,773 to €185,438
- Taxes -€7,685
down €7,685 (-97.0%), from €7,920 to €235
- Financial charges +€4,592
up €4,592 (+779.7%), from €589 to €5,181
- Depreciation -€2,741
down €2,741 (-41.6%), from €6,588 to €3,847
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 | €423,997 | €686,473 | +€262,477 | +61.9% |
| Fixed assets | 21/28 | €12,666 | €12,188 | -€477 | -3.8% |
| Intangible fixed assets | 21 | - | €1,616 | +€1,616 | |
| Tangible fixed assets | 22/27 | €12,666 | €10,572 | -€2,094 | -16.5% |
| Plant, machinery and equipment | 23 | €972 | €486 | -€486 | -50.0% |
| Furniture and vehicles | 24 | €6,213 | €5,234 | -€979 | -15.8% |
| Other tangible fixed assets | 26 | €5,481 | €4,852 | -€629 | -11.5% |
| Current assets | 29/58 | €411,331 | €674,285 | +€262,954 | +63.9% |
| Amounts receivable within one year | 40/41 | €20,792 | €74,576 | +€53,784 | +258.7% |
| Trade receivables | 40 | €19,792 | €70,801 | +€51,009 | +257.7% |
| Other amounts receivable | 41 | €1,000 | €3,775 | +€2,775 | +277.5% |
| Cash at bank and in hand | 54/58 | €388,623 | €592,981 | +€204,358 | +52.6% |
| Deferred charges and accrued income | 490/1 | €1,917 | €6,729 | +€4,812 | +251.0% |
| Total equity and liabilities | 10/49 | €423,997 | €686,473 | +€262,477 | +61.9% |
| Equity | 10/15 | €33,728 | -€41,602 | -€75,330 | |
| Contributions | 10/11 | €1,261 | €1,261 | = | 0.0% |
| Reserves | 13 | €19,539 | €11,039 | -€8,500 | -43.5% |
| Non-distributable reserves | 130/1 | €126 | €126 | = | 0.0% |
| Reserves not available under the articles | 1311 | €126 | €126 | = | 0.0% |
| Distributable reserves | 133 | €19,413 | €10,913 | -€8,500 | -43.8% |
| Profit (loss) carried forward | 14 | €12,928 | -€53,902 | -€66,830 | |
| Amounts payable | 17/49 | €390,269 | €728,075 | +€337,806 | +86.6% |
| Amounts payable after more than one year | 17 | - | €100,900 | +€100,900 | |
| Financial debts | 170/4 | - | €100,900 | +€100,900 | |
| Amounts payable within one year | 42/48 | €390,269 | €627,176 | +€236,907 | +60.7% |
| Current portion of amounts payable after more than one year | 42 | - | €28,480 | +€28,480 | |
| Trade debts | 44 | €46,319 | €30,219 | -€16,100 | -34.8% |
| Suppliers | 440/4 | €46,319 | €30,219 | -€16,100 | -34.8% |
| Advances received on contracts in progress | 46 | €301,173 | €534,050 | +€232,877 | +77.3% |
| Taxes, remuneration and social security | 45 | €42,777 | €34,426 | -€8,351 | -19.5% |
| Taxes | 450/3 | €27,983 | €21,045 | -€6,938 | -24.8% |
| Remuneration and social security | 454/9 | €14,794 | €13,381 | -€1,413 | -9.6% |
| Remuneration, social security and pensions | 62 | €140,773 | €185,438 | +€44,665 | +31.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,588 | €3,847 | -€2,741 | -41.6% |
| Other operating charges | 640/8 | €2,660 | €2,490 | -€170 | -6.4% |
| Gross operating margin | 9900 | €168,112 | €121,828 | -€46,283 | -27.5% |
| Operating profit (loss) | 9901 | €18,090 | -€69,947 | -€88,037 | |
| Financial income | 75/76B | €15 | €33 | +€18 | +124.9% |
| Recurring financial income | 75 | €15 | €33 | +€18 | +124.9% |
| Financial charges | 65/66B | €589 | €5,181 | +€4,592 | +779.7% |
| Recurring financial charges | 65 | €589 | €5,181 | +€4,592 | +779.7% |
| Profit (loss) for the period before taxes | 9903 | €17,516 | -€75,095 | -€92,611 | |
| Income taxes | 67/77 | €7,920 | €235 | -€7,685 | -97.0% |
| Profit (loss) for the period | 9904 | €9,596 | -€75,330 | -€84,926 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,596 | -€75,330 | -€84,926 |
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 1 October 2026 via checked.be.