MB Projects: 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 Projects
Largest movements
- Receivables within one year +€1.7m
up €1.7m (+85.5%), from €2.0m to €3.7m
of which Trade receivables: +€1.7m
- Receivables after one year +€242,590
up €242,590 (+105%), from €230,000 to €472,590
of which Other amounts receivable: +€472,590
- Tangible fixed assets -€82,594
down €82,594 (-9.7%), from €854,062 to €771,469
of which Land and buildings: -€45,191
- Other debts +€2.3m
up €2.3m (+59.4%), from €3.9m to €6.2m
- Debts after one year -€200,000
down €200,000 (-100%), from €200,000 to €0
- Accrued charges and deferred income -€119,116
down €119,116 (-90.3%), from €131,945 to €12,829
- Profit (loss) carried forward -€110,686
down €110,686 (-43.5%), from -€254,360 to -€365,046
- Financial charges -€119,125
down €119,125 (-89.9%), from €132,546 to €13,421
- Taxes +€23,367
up €23,367 (+594%), from €3,933 to €27,300
- Other operating charges +€9,705
up €9,705 (+136%), from €7,116 to €16,821
- Financial income +€9,422
up €9,422 (+24.1%), from €39,040 to €48,463
- Gross operating margin +€5,663
up €5,663 (+22.9%), from -€24,677 to -€19,014
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 | €5,801,005 | €7,700,429 | +€1.9m | +32.7% |
| Fixed assets | 21/28 | €3,509,062 | €3,426,469 | -€82,594 | -2.4% |
| Tangible fixed assets | 22/27 | €854,062 | €771,469 | -€82,594 | -9.7% |
| Land and buildings | 22 | €700,839 | €655,648 | -€45,191 | -6.4% |
| Plant, machinery and equipment | 23 | €14,613 | €12,110 | -€2,502 | -17.1% |
| Furniture and vehicles | 24 | €138,611 | €103,710 | -€34,901 | -25.2% |
| Financial fixed assets | 28 | €2,655,000 | €2,655,000 | = | 0.0% |
| Current assets | 29/58 | €2,291,943 | €4,273,960 | +€2.0m | +86.5% |
| Amounts receivable after more than one year | 29 | €230,000 | €472,590 | +€242,590 | +105% |
| Trade receivables | 290 | €230,000 | - | -€230,000 | |
| Other amounts receivable | 291 | - | €472,590 | +€472,590 | |
| Amounts receivable within one year | 40/41 | €1,991,572 | €3,694,749 | +€1.7m | +85.5% |
| Trade receivables | 40 | €4,127 | €1,680,000 | +€1.7m | +40,608% |
| Other amounts receivable | 41 | €1,987,445 | €2,014,749 | +€27,304 | +1.4% |
| Cash at bank and in hand | 54/58 | €27,539 | €61,950 | +€34,411 | +125% |
| Deferred charges and accrued income | 490/1 | €42,832 | €44,672 | +€1,840 | +4.3% |
| Total equity and liabilities | 10/49 | €5,801,005 | €7,700,429 | +€1.9m | +32.7% |
| Equity | 10/15 | €1,546,989 | €1,436,303 | -€110,686 | -7.2% |
| Contributions | 10/11 | €282,133 | €282,133 | = | 0.0% |
| Reserves | 13 | €1,519,215 | €1,519,215 | = | 0.0% |
| Non-distributable reserves | 130/1 | €28,600 | €28,600 | = | 0.0% |
| Reserves not available under the articles | 1311 | €28,600 | €28,600 | = | 0.0% |
| Distributable reserves | 133 | €1,490,615 | €1,490,615 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€254,360 | -€365,046 | -€110,686 | -43.5% |
| Amounts payable | 17/49 | €4,254,016 | €6,264,126 | +€2.0m | +47.3% |
| Amounts payable after more than one year | 17 | €200,000 | €0 | -€200,000 | -100% |
| Other amounts payable | 178/9 | €200,000 | €0 | -€200,000 | -100% |
| Amounts payable within one year | 42/48 | €3,922,072 | €6,251,297 | +€2.3m | +59.4% |
| Trade debts | 44 | €3,958 | €10,868 | +€6,910 | +175% |
| Suppliers | 440/4 | €3,958 | €10,868 | +€6,910 | +175% |
| Taxes, remuneration and social security | 45 | €3,933 | €0 | -€3,933 | -100% |
| Taxes | 450/3 | €3,933 | €0 | -€3,933 | -100% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €3,914,181 | €6,240,429 | +€2.3m | +59.4% |
| Accrued charges and deferred income | 492/3 | €131,945 | €12,829 | -€119,116 | -90.3% |
| Non-recurring operating income | 76A | - | €17,455 | +€17,455 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,355 | €82,594 | +€239 | +0.3% |
| Other operating charges | 640/8 | €7,116 | €16,821 | +€9,705 | +136% |
| Gross operating margin | 9900 | -€24,677 | -€19,014 | +€5,663 | +22.9% |
| Operating profit (loss) | 9901 | -€114,148 | -€118,428 | -€4,281 | -3.8% |
| Financial income | 75/76B | €39,040 | €48,463 | +€9,422 | +24.1% |
| Recurring financial income | 75 | €39,040 | €48,463 | +€9,422 | +24.1% |
| Financial charges | 65/66B | €132,546 | €13,421 | -€119,125 | -89.9% |
| Recurring financial charges | 65 | €132,546 | €13,421 | -€119,125 | -89.9% |
| Profit (loss) for the period before taxes | 9903 | -€207,653 | -€83,386 | +€124,267 | +59.8% |
| Income taxes | 67/77 | €3,933 | €27,300 | +€23,367 | +594% |
| Profit (loss) for the period | 9904 | -€211,586 | -€110,686 | +€100,900 | +47.7% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€211,586 | -€110,686 | +€100,900 | +47.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.