MB GENERALI: 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 GENERALI
Largest movements
- Receivables within one year +€62,287
up €62,287 (+47.8%), from €130,341 to €192,629
of which Trade receivables: +€125,799
- Cash +€9,821
up €9,821 (+93.9%), from €10,456 to €20,277
mainly Trade debts (+€89,573) and Net result for the year (+€33,965)
- Tangible fixed assets -€4,388
down €4,388 (-7.0%), from €62,452 to €58,064
of which Plant, machinery and equipment: -€2,828
- Trade debts +€89,573
up €89,573 (+8197.6%), from €1,093 to €90,666
- Profit (loss) carried forward -€13,094
down €13,094 (-13.1%), from €99,733 to €86,639
- Debts after one year -€10,637
down €10,637 (-23.5%), from €45,321 to €34,684
- Tax, wage and social debts +€4,483
up €4,483 (+9.8%), from €45,659 to €50,142
of which Taxes: +€19,671
- Gross operating margin +€60,952
up €60,952 (+76.2%), from €80,026 to €140,978
- Staff costs +€14,860
up €14,860 (+28.9%), from €51,497 to €66,357
- Depreciation +€11,800
up €11,800 (+345.9%), from €3,411 to €15,210
- Taxes -€2,537
down €2,537 (-12.5%), from €20,229 to €17,692
- Other operating charges +€2,197
up €2,197 (+466.4%), from €471 to €2,668
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 | €204,010 | €274,863 | +€70,853 | +34.7% |
| Fixed assets | 21/28 | €62,530 | €60,642 | -€1,888 | -3.0% |
| Tangible fixed assets | 22/27 | €62,452 | €58,064 | -€4,388 | -7.0% |
| Plant, machinery and equipment | 23 | €9,920 | €7,092 | -€2,828 | -28.5% |
| Furniture and vehicles | 24 | €52,532 | €50,972 | -€1,560 | -3.0% |
| Financial fixed assets | 28 | €78 | €2,578 | +€2,500 | +3205.1% |
| Current assets | 29/58 | €141,480 | €214,221 | +€72,740 | +51.4% |
| Amounts receivable within one year | 40/41 | €130,341 | €192,629 | +€62,287 | +47.8% |
| Trade receivables | 40 | €23,135 | €148,934 | +€125,799 | +543.8% |
| Other amounts receivable | 41 | €107,207 | €43,695 | -€63,512 | -59.2% |
| Cash at bank and in hand | 54/58 | €10,456 | €20,277 | +€9,821 | +93.9% |
| Deferred charges and accrued income | 490/1 | €683 | €1,315 | +€632 | +92.5% |
| Total equity and liabilities | 10/49 | €204,010 | €274,863 | +€70,853 | +34.7% |
| Equity | 10/15 | €101,733 | €88,639 | -€13,094 | -12.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €99,733 | €86,639 | -€13,094 | -13.1% |
| Amounts payable | 17/49 | €102,277 | €186,224 | +€83,947 | +82.1% |
| Amounts payable after more than one year | 17 | €45,321 | €34,684 | -€10,637 | -23.5% |
| Financial debts | 170/4 | €45,321 | €34,684 | -€10,637 | -23.5% |
| Amounts payable within one year | 42/48 | €56,957 | €151,444 | +€94,487 | +165.9% |
| Current portion of amounts payable after more than one year | 42 | €10,205 | €10,637 | +€431 | +4.2% |
| Trade debts | 44 | €1,093 | €90,666 | +€89,573 | +8197.6% |
| Suppliers | 440/4 | €1,093 | €90,666 | +€89,573 | +8197.6% |
| Taxes, remuneration and social security | 45 | €45,659 | €50,142 | +€4,483 | +9.8% |
| Taxes | 450/3 | €12,938 | €32,609 | +€19,671 | +152.0% |
| Remuneration and social security | 454/9 | €32,721 | €17,533 | -€15,188 | -46.4% |
| Accrued charges and deferred income | 492/3 | - | €96 | +€96 | |
| Remuneration, social security and pensions | 62 | €51,497 | €66,357 | +€14,860 | +28.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,411 | €15,210 | +€11,800 | +345.9% |
| Other operating charges | 640/8 | €471 | €2,668 | +€2,197 | +466.4% |
| Non-recurring operating charges | 66A | €2,379 | €2,443 | +€64 | +2.7% |
| Gross operating margin | 9900 | €80,026 | €140,978 | +€60,952 | +76.2% |
| Operating profit (loss) | 9901 | €22,269 | €54,300 | +€32,031 | +143.8% |
| Financial income | 75/76B | €0 | €3 | +€3 | +2500.0% |
| Recurring financial income | 75 | €0 | €3 | +€3 | +2500.0% |
| Financial charges | 65/66B | €955 | €2,646 | +€1,691 | +177.0% |
| Recurring financial charges | 65 | €955 | €2,646 | +€1,691 | +177.0% |
| Profit (loss) for the period before taxes | 9903 | €21,313 | €51,657 | +€30,343 | +142.4% |
| Income taxes | 67/77 | €20,229 | €17,692 | -€2,537 | -12.5% |
| Profit (loss) for the period | 9904 | €1,084 | €33,965 | +€32,881 | +3032.7% |
| Profit (loss) for the period to be appropriated | 9905 | €1,084 | €33,965 | +€32,881 | +3032.7% |
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 11 October 2026 via checked.be.