MB RETAIL: 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 RETAIL
Largest movements
- Receivables within one year +€39,557
up €39,557 (+158.1%), from €25,024 to €64,580
of which Trade receivables: +€38,720
- Cash -€17,117
down €17,117 (-20.2%), from €84,605 to €67,489
mainly Contributions, distributions and other (-€59,441) and Receivables within one year (-€39,557)
- Tangible fixed assets +€3,657
up €3,657 (+27.0%), from €13,544 to €17,201
- Other debts +€57,523
up €57,523 (+324.8%), from €17,708 to €75,231
- Reserves -€37,550
down €37,550 (-51.8%), from €72,520 to €34,970
of which Distributable reserves: -€37,550
- Tax, wage and social debts +€6,483
up €6,483 (+111.1%), from €5,835 to €12,319
- Trade debts +€3,714
up €3,714 (+57.6%), from €6,452 to €10,166
- Debts after one year -€3,411
down €3,411 (-59.3%), from €5,749 to €2,338
- Gross operating margin +€25,648
up €25,648 (+231.1%), from €11,097 to €36,745
- Taxes +€5,845
up €5,845 (+176.0%), from €3,321 to €9,166
- Depreciation +€3,755
up €3,755 (+167.8%), from €2,237 to €5,992
- Financial income -€456
down €456 (-52.3%), from €871 to €416
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 | €123,173 | €149,270 | +€26,097 | +21.2% |
| Fixed assets | 21/28 | €13,544 | €17,201 | +€3,657 | +27.0% |
| Tangible fixed assets | 22/27 | €13,544 | €17,201 | +€3,657 | +27.0% |
| Furniture and vehicles | 24 | €13,544 | €17,201 | +€3,657 | +27.0% |
| Current assets | 29/58 | €109,629 | €132,069 | +€22,440 | +20.5% |
| Amounts receivable within one year | 40/41 | €25,024 | €64,580 | +€39,557 | +158.1% |
| Trade receivables | 40 | €8,470 | €47,190 | +€38,720 | +457.1% |
| Other amounts receivable | 41 | €16,554 | €17,390 | +€837 | +5.1% |
| Cash at bank and in hand | 54/58 | €84,605 | €67,489 | -€17,117 | -20.2% |
| Total equity and liabilities | 10/49 | €123,173 | €149,270 | +€26,097 | +21.2% |
| Equity | 10/15 | €84,224 | €45,836 | -€38,389 | -45.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €72,520 | €34,970 | -€37,550 | -51.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €70,660 | €33,110 | -€37,550 | -53.1% |
| Profit (loss) carried forward | 14 | €5,504 | €4,666 | -€839 | -15.2% |
| Amounts payable | 17/49 | €38,948 | €103,434 | +€64,486 | +165.6% |
| Amounts payable after more than one year | 17 | €5,749 | €2,338 | -€3,411 | -59.3% |
| Financial debts | 170/4 | €5,749 | €2,338 | -€3,411 | -59.3% |
| Amounts payable within one year | 42/48 | €33,199 | €101,096 | +€67,897 | +204.5% |
| Current portion of amounts payable after more than one year | 42 | €3,204 | €3,380 | +€177 | +5.5% |
| Trade debts | 44 | €6,452 | €10,166 | +€3,714 | +57.6% |
| Suppliers | 440/4 | €6,452 | €10,166 | +€3,714 | +57.6% |
| Taxes, remuneration and social security | 45 | €5,835 | €12,319 | +€6,483 | +111.1% |
| Taxes | 450/3 | €5,835 | €12,319 | +€6,483 | +111.1% |
| Other amounts payable | 47/48 | €17,708 | €75,231 | +€57,523 | +324.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,237 | €5,992 | +€3,755 | +167.8% |
| Other operating charges | 640/8 | €387 | €436 | +€48 | +12.5% |
| Gross operating margin | 9900 | €11,097 | €36,745 | +€25,648 | +231.1% |
| Operating profit (loss) | 9901 | €8,473 | €30,317 | +€21,845 | +257.8% |
| Financial income | 75/76B | €871 | €416 | -€456 | -52.3% |
| Recurring financial income | 75 | €871 | €416 | -€456 | -52.3% |
| Financial charges | 65/66B | €394 | €514 | +€120 | +30.4% |
| Recurring financial charges | 65 | €394 | €514 | +€120 | +30.4% |
| Profit (loss) for the period before taxes | 9903 | €8,950 | €30,219 | +€21,269 | +237.7% |
| Income taxes | 67/77 | €3,321 | €9,166 | +€5,845 | +176.0% |
| Profit (loss) for the period | 9904 | €5,628 | €21,053 | +€15,424 | +274.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,628 | €21,053 | +€15,424 | +274.0% |
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 9 October 2026 via checked.be.