MBA BELGIUM: what changed
MBA BELGIUM
Largest movements
- Receivables within one year -€12,045
down €12,045 (-18.1%), from €66,417 to €54,372
of which Other amounts receivable: -€26,171
- Deferred charges and accrued income -€5,286
down €5,286 (-60.2%), from €8,775 to €3,489
- Cash -€3,484
down €3,484 (-23.3%), from €14,953 to €11,469
mainly Contributions, distributions and other (-€40,000) and Accrued charges and deferred income (-€12,150)
- Accrued charges and deferred income -€12,150
no longer reported in 2025 (was €12,150)
- Trade debts -€9,862
down €9,862 (-69.8%), from €14,124 to €4,262
- Tax, wage and social debts +€6,710
up €6,710 (+25.5%), from €26,285 to €32,995
of which Taxes: +€6,522
- Profit (loss) carried forward -€5,353
down €5,353 (-88.4%), from €6,056 to €702
- Gross operating margin -€5,244
down €5,244 (-5.9%), from €89,226 to €83,982
- Staff costs +€2,286
up €2,286 (+6.6%), from €34,562 to €36,848
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €92,614 | €71,959 | -€20,655 | -22.3% |
| Fixed assets | 21/28 | €2,469 | €2,629 | +€160 | +6.5% |
| Tangible fixed assets | 22/27 | €2,106 | €2,266 | +€160 | +7.6% |
| Furniture and vehicles | 24 | €2,106 | €2,266 | +€160 | +7.6% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €90,145 | €69,330 | -€20,815 | -23.1% |
| Amounts receivable within one year | 40/41 | €66,417 | €54,372 | -€12,045 | -18.1% |
| Trade receivables | 40 | €28,965 | €43,091 | +€14,126 | +48.8% |
| Other amounts receivable | 41 | €37,452 | €11,282 | -€26,171 | -69.9% |
| Cash at bank and in hand | 54/58 | €14,953 | €11,469 | -€3,484 | -23.3% |
| Deferred charges and accrued income | 490/1 | €8,775 | €3,489 | -€5,286 | -60.2% |
| Total equity and liabilities | 10/49 | €92,614 | €71,959 | -€20,655 | -22.3% |
| Equity | 10/15 | €8,056 | €2,702 | -€5,353 | -66.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,056 | €702 | -€5,353 | -88.4% |
| Amounts payable | 17/49 | €84,559 | €69,257 | -€15,302 | -18.1% |
| Amounts payable within one year | 42/48 | €72,409 | €69,257 | -€3,152 | -4.4% |
| Trade debts | 44 | €14,124 | €4,262 | -€9,862 | -69.8% |
| Suppliers | 440/4 | €14,124 | €4,262 | -€9,862 | -69.8% |
| Taxes, remuneration and social security | 45 | €26,285 | €32,995 | +€6,710 | +25.5% |
| Taxes | 450/3 | €21,013 | €27,534 | +€6,522 | +31.0% |
| Remuneration and social security | 454/9 | €5,272 | €5,461 | +€189 | +3.6% |
| Other amounts payable | 47/48 | €32,000 | €32,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €12,150 | - | -€12,150 | |
| Remuneration, social security and pensions | 62 | €34,562 | €36,848 | +€2,286 | +6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,880 | €1,490 | -€390 | -20.8% |
| Gross operating margin | 9900 | €89,226 | €83,982 | -€5,244 | -5.9% |
| Operating profit (loss) | 9901 | €52,784 | €45,644 | -€7,140 | -13.5% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €140 | €264 | +€124 | +88.6% |
| Recurring financial charges | 65 | €140 | €264 | +€124 | +88.6% |
| Profit (loss) for the period before taxes | 9903 | €52,644 | €45,381 | -€7,263 | -13.8% |
| Income taxes | 67/77 | €11,289 | €10,734 | -€555 | -4.9% |
| Profit (loss) for the period | 9904 | €41,355 | €34,647 | -€6,708 | -16.2% |
| Profit (loss) for the period to be appropriated | 9905 | €41,355 | €34,647 | -€6,708 | -16.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.