MB INFRA: 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 INFRA
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€12,503
2024 · €500,486-€512,989
Equity
€470,033
2024 · €482,536-€12,503
Cash
€4,808
2024 · €4,380+€429
Balance sheet total
€470,352
2024 · €2.0m-€1.5m
Largest movements
Assets
- Receivables within one year -€1.5m
down €1.5m (-95.0%), from €1.6m to €79,477
of which Other amounts receivable: -€1.4m
Equity and liabilities
- Other debts -€1.2m
no longer reported in 2025 (was €1.2m)
- Tax, wage and social debts -€287,396
no longer reported in 2025 (was €287,396)
Income statement
- Gross operating margin -€1.7m
down €1.7m, from €1.7m to -€6,535
- Taxes -€243,802
no longer reported in 2025 (was €243,802)
- Other operating charges -€28,481
down €28,481 (-94.0%), from €30,303 to €1,822
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.
Result 2024
€500,486
Gross operating margin
-€1.7m
Write-downs
-€1,979
Other operating charges
+€28,481
Other operating items
+€1.0m
Financial income
-€16,575
Financial charges
-€8,709
Taxes
+€243,802
Deferred taxes and other
-€80,804
Result 2025
-€12,503
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€429
Investment
€0
Financing
€0
Cash 2024
€4,380
From operations (derived)
+€429
Net result for the year
-€12,503
Depreciation
+€791
Receivables within one year
+€1.5m
Trade debts
-€16,034
Tax, wage and social debts
-€287,396
Other debts
-€1.2m
Cash 2025
€4,808
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,981,282 | €470,352 | -€1.5m | -76.3% |
| Fixed assets | 21/28 | €386,858 | €386,068 | -€791 | -0.2% |
| Tangible fixed assets | 22/27 | €386,858 | €386,068 | -€791 | -0.2% |
| Land and buildings | 22 | €386,858 | €386,068 | -€791 | -0.2% |
| Current assets | 29/58 | €1,594,424 | €84,285 | -€1.5m | -94.7% |
| Amounts receivable within one year | 40/41 | €1,590,044 | €79,477 | -€1.5m | -95.0% |
| Trade receivables | 40 | €94,179 | €7,705 | -€86,473 | -91.8% |
| Other amounts receivable | 41 | €1,495,866 | €71,772 | -€1.4m | -95.2% |
| Cash at bank and in hand | 54/58 | €4,380 | €4,808 | +€429 | +9.8% |
| Total equity and liabilities | 10/49 | €1,981,282 | €470,352 | -€1.5m | -76.3% |
| Equity | 10/15 | €482,536 | €470,033 | -€12,503 | -2.6% |
| Contributions | 10/11 | €197,621 | €197,621 | = | 0.0% |
| Capital | 10 | €99,157 | €99,157 | = | 0.0% |
| Issued capital | 100 | €99,157 | €99,157 | = | 0.0% |
| Contributions outside capital | 11 | €98,463 | €98,463 | = | 0.0% |
| Share premium | 1100/10 | €98,463 | €98,463 | = | 0.0% |
| Revaluation surpluses | 12 | €275,000 | €275,000 | = | 0.0% |
| Reserves | 13 | €9,916 | €9,916 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,916 | €9,916 | = | 0.0% |
| Legal reserve | 130 | €9,916 | €9,916 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€12,503 | -€12,503 | |
| Amounts payable | 17/49 | €1,498,746 | €319 | -€1.5m | -100.0% |
| Amounts payable within one year | 42/48 | €1,498,746 | €319 | -€1.5m | -100.0% |
| Trade debts | 44 | €16,353 | €319 | -€16,034 | -98.0% |
| Suppliers | 440/4 | €16,353 | €319 | -€16,034 | -98.0% |
| Taxes, remuneration and social security | 45 | €287,396 | - | -€287,396 | |
| Taxes | 450/3 | €287,396 | - | -€287,396 | |
| Other amounts payable | 47/48 | €1,194,996 | - | -€1.2m | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €791 | €791 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,979 | - | +€1,979 | |
| Other operating charges | 640/8 | €30,303 | €1,822 | -€28,481 | -94.0% |
| Non-recurring operating charges | 66A | €1,037,905 | - | -€1.0m | |
| Gross operating margin | 9900 | €1,708,574 | -€6,535 | -€1.7m | |
| Operating profit (loss) | 9901 | €641,555 | -€9,148 | -€650,702 | |
| Financial income | 75/76B | €24,282 | €7,706 | -€16,575 | -68.3% |
| Recurring financial income | 75 | €24,282 | €7,706 | -€16,575 | -68.3% |
| Financial charges | 65/66B | €2,353 | €11,062 | +€8,709 | +370% |
| Recurring financial charges | 65 | €2,353 | €11,062 | +€8,709 | +370% |
| Profit (loss) for the period before taxes | 9903 | €663,483 | -€12,503 | -€675,987 | |
| Transfer from deferred taxes | 780 | €80,804 | - | -€80,804 | |
| Income taxes | 67/77 | €243,802 | - | -€243,802 | |
| Profit (loss) for the period | 9904 | €500,486 | -€12,503 | -€512,989 | |
| Transfer from tax-exempt reserves | 789 | €242,412 | - | -€242,412 | |
| Profit (loss) for the period to be appropriated | 9905 | €742,898 | -€12,503 | -€755,402 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.