MB-VERWARMING: 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-VERWARMING
Largest movements
- Stocks and contracts +€28,215
new in 2025: €28,215
- Deferred charges and accrued income -€15,534
down €15,534 (-84.1%), from €18,467 to €2,933
- Receivables within one year +€10,995
up €10,995 (+11.2%), from €97,774 to €108,769
of which Trade receivables: +€57,644
- Cash -€5,596
down €5,596 (-82.2%), from €6,805 to €1,209
mainly Stocks and contracts (-€28,215) and Receivables within one year (-€10,995)
- Tangible fixed assets -€5,424
down €5,424 (-91.9%), from €5,899 to €475
- Profit (loss) carried forward +€15,297
up €15,297 (+20.8%), from €73,480 to €88,778
- Trade debts +€9,131
up €9,131 (+162%), from €5,630 to €14,761
- Tax, wage and social debts -€8,290
down €8,290 (-35.6%), from €23,264 to €14,974
- Current portion of long-term debt -€3,049
down €3,049 (-65.5%), from €4,654 to €1,605
- Debts after one year -€1,605
down €1,605 (-100%), from €1,605 to €0
- Gross operating margin -€20,393
down €20,393 (-41.4%), from €49,270 to €28,878
- Taxes -€4,257
down €4,257 (-48.3%), from €8,815 to €4,558
- Other operating charges +€3,010
up €3,010 (+158%), from €1,903 to €4,913
- Financial income +€1,748
up €1,748 (+107%), from €1,641 to €3,389
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 | €128,945 | €141,601 | +€12,656 | +9.8% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €5,899 | €475 | -€5,424 | -91.9% |
| Intangible fixed assets | 21 | €1 | €1 | -€0 | -28.6% |
| Tangible fixed assets | 22/27 | €5,899 | €475 | -€5,424 | -91.9% |
| Furniture and vehicles | 24 | €5,899 | €475 | -€5,424 | -91.9% |
| Current assets | 29/58 | €123,046 | €141,126 | +€18,080 | +14.7% |
| Stocks and contracts in progress | 3 | - | €28,215 | +€28,215 | |
| Stocks | 30/36 | - | €28,215 | +€28,215 | |
| Amounts receivable within one year | 40/41 | €97,774 | €108,769 | +€10,995 | +11.2% |
| Trade receivables | 40 | €33,153 | €90,797 | +€57,644 | +174% |
| Other amounts receivable | 41 | €64,621 | €17,972 | -€46,649 | -72.2% |
| Cash at bank and in hand | 54/58 | €6,805 | €1,209 | -€5,596 | -82.2% |
| Deferred charges and accrued income | 490/1 | €18,467 | €2,933 | -€15,534 | -84.1% |
| Total equity and liabilities | 10/49 | €128,945 | €141,601 | +€12,656 | +9.8% |
| Equity | 10/15 | €80,980 | €96,278 | +€15,297 | +18.9% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €73,480 | €88,778 | +€15,297 | +20.8% |
| Amounts payable | 17/49 | €47,965 | €45,323 | -€2,642 | -5.5% |
| Amounts payable after more than one year | 17 | €1,605 | €0 | -€1,605 | -100% |
| Financial debts | 170/4 | €1,605 | €0 | -€1,605 | -100% |
| Amounts payable within one year | 42/48 | €46,360 | €45,323 | -€1,037 | -2.2% |
| Current portion of amounts payable after more than one year | 42 | €4,654 | €1,605 | -€3,049 | -65.5% |
| Trade debts | 44 | €5,630 | €14,761 | +€9,131 | +162% |
| Suppliers | 440/4 | €5,630 | €14,761 | +€9,131 | +162% |
| Advances received on contracts in progress | 46 | €10,480 | €10,485 | +€5 | 0.0% |
| Taxes, remuneration and social security | 45 | €23,264 | €14,974 | -€8,290 | -35.6% |
| Taxes | 450/3 | €23,264 | €14,974 | -€8,290 | -35.6% |
| Other amounts payable | 47/48 | €2,332 | €3,499 | +€1,166 | +50.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,219 | €5,424 | +€205 | +3.9% |
| Other operating charges | 640/8 | €1,903 | €4,913 | +€3,010 | +158% |
| Non-recurring operating charges | 66A | €441 | €0 | -€441 | -100% |
| Gross operating margin | 9900 | €49,270 | €28,878 | -€20,393 | -41.4% |
| Operating profit (loss) | 9901 | €41,708 | €18,541 | -€23,167 | -55.5% |
| Financial income | 75/76B | €1,641 | €3,389 | +€1,748 | +107% |
| Recurring financial income | 75 | €1,641 | €3,389 | +€1,748 | +107% |
| Financial charges | 65/66B | €739 | €408 | -€332 | -44.8% |
| Recurring financial charges | 65 | €739 | €408 | -€332 | -44.8% |
| Profit (loss) for the period before taxes | 9903 | €42,609 | €21,522 | -€21,087 | -49.5% |
| Income taxes | 67/77 | €8,815 | €4,558 | -€4,257 | -48.3% |
| Profit (loss) for the period | 9904 | €33,794 | €16,963 | -€16,831 | -49.8% |
| Profit (loss) for the period to be appropriated | 9905 | €33,794 | €16,963 | -€16,831 | -49.8% |
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 15 October 2026 via checked.be.