MB SPA: 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 SPA
Largest movements
- Current investments -€100,000
down €100,000 (-100.0%), from €100,000 to €0
- Receivables within one year +€80,989
up €80,989 (+109.6%), from €73,894 to €154,883
of which Trade receivables: +€58,974
- Cash -€53,034
down €53,034 (-35.5%), from €149,204 to €96,170
mainly Receivables within one year (-€80,989) and Investment in fixed assets (net) (-€63,286)
- Tangible fixed assets +€31,484
up €31,484 (+47.5%), from €66,247 to €97,731
of which Furniture and vehicles: +€16,407
- Stocks and contracts -€15,615
down €15,615 (-1.6%), from €985,634 to €970,018
- Trade debts -€29,792
down €29,792 (-29.9%), from €99,804 to €70,012
- Debts after one year -€27,161
down €27,161 (-13.5%), from €200,675 to €173,515
of which Financial debts: -€27,161
- Gross operating margin -€133,083
down €133,083 (-24.3%), from €546,819 to €413,736
- Taxes -€41,608
down €41,608 (-93.3%), from €44,613 to €3,005
- Staff costs +€16,510
up €16,510 (+4.8%), from €341,962 to €358,472
- Depreciation +€8,426
up €8,426 (+36.0%), from €23,376 to €31,802
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 | €1,374,979 | €1,327,144 | -€47,835 | -3.5% |
| Fixed assets | 21/28 | €66,247 | €97,731 | +€31,484 | +47.5% |
| Tangible fixed assets | 22/27 | €66,247 | €97,731 | +€31,484 | +47.5% |
| Land and buildings | 22 | €34,159 | €38,545 | +€4,386 | +12.8% |
| Plant, machinery and equipment | 23 | - | €10,692 | +€10,692 | |
| Furniture and vehicles | 24 | €32,088 | €48,495 | +€16,407 | +51.1% |
| Current assets | 29/58 | €1,308,732 | €1,229,412 | -€79,320 | -6.1% |
| Stocks and contracts in progress | 3 | €985,634 | €970,018 | -€15,615 | -1.6% |
| Stocks | 30/36 | €985,634 | €970,018 | -€15,615 | -1.6% |
| Amounts receivable within one year | 40/41 | €73,894 | €154,883 | +€80,989 | +109.6% |
| Trade receivables | 40 | €15,206 | €74,180 | +€58,974 | +387.8% |
| Other amounts receivable | 41 | €58,688 | €80,703 | +€22,015 | +37.5% |
| Current investments | 50/53 | €100,000 | €0 | -€100,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €149,204 | €96,170 | -€53,034 | -35.5% |
| Deferred charges and accrued income | 490/1 | €0 | €8,341 | +€8,341 | |
| Total equity and liabilities | 10/49 | €1,374,979 | €1,327,144 | -€47,835 | -3.5% |
| Equity | 10/15 | €958,764 | €962,017 | +€3,253 | +0.3% |
| Contributions | 10/11 | €20,459 | €20,459 | = | 0.0% |
| Reserves | 13 | €339,725 | €339,725 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,802 | €5,802 | = | 0.0% |
| Distributable reserves | 133 | €333,922 | €333,922 | = | 0.0% |
| Profit (loss) carried forward | 14 | €598,580 | €601,833 | +€3,253 | +0.5% |
| Amounts payable | 17/49 | €416,215 | €365,126 | -€51,089 | -12.3% |
| Amounts payable after more than one year | 17 | €200,675 | €173,515 | -€27,161 | -13.5% |
| Financial debts | 170/4 | €200,675 | €173,515 | -€27,161 | -13.5% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €215,540 | €191,612 | -€23,928 | -11.1% |
| Current portion of amounts payable after more than one year | 42 | €50,897 | €50,871 | -€26 | -0.1% |
| Trade debts | 44 | €99,804 | €70,012 | -€29,792 | -29.9% |
| Suppliers | 440/4 | €99,804 | €70,012 | -€29,792 | -29.9% |
| Taxes, remuneration and social security | 45 | €64,839 | €70,729 | +€5,890 | +9.1% |
| Taxes | 450/3 | €8,387 | €6,620 | -€1,766 | -21.1% |
| Remuneration and social security | 454/9 | €56,452 | €64,108 | +€7,656 | +13.6% |
| Remuneration, social security and pensions | 62 | €341,962 | €358,472 | +€16,510 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,376 | €31,802 | +€8,426 | +36.0% |
| Other operating charges | 640/8 | €25,504 | €29,039 | +€3,535 | +13.9% |
| Gross operating margin | 9900 | €546,819 | €413,736 | -€133,083 | -24.3% |
| Operating profit (loss) | 9901 | €155,977 | -€5,577 | -€161,554 | |
| Financial income | 75/76B | €27,117 | €26,989 | -€128 | -0.5% |
| Recurring financial income | 75 | €27,117 | €26,989 | -€128 | -0.5% |
| Financial charges | 65/66B | €13,632 | €15,154 | +€1,521 | +11.2% |
| Recurring financial charges | 65 | €13,632 | €15,154 | +€1,521 | +11.2% |
| Profit (loss) for the period before taxes | 9903 | €169,462 | €6,258 | -€163,204 | -96.3% |
| Income taxes | 67/77 | €44,613 | €3,005 | -€41,608 | -93.3% |
| Profit (loss) for the period | 9904 | €124,849 | €3,253 | -€121,596 | -97.4% |
| Profit (loss) for the period to be appropriated | 9905 | €124,849 | €3,253 | -€121,596 | -97.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.