MBA CONSTRUCT: 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.
MBA CONSTRUCT
Largest movements
- Receivables within one year +€77,039
up €77,039 (+405.7%), from €18,987 to €96,026
of which Trade receivables: +€63,512
- Tangible fixed assets +€17,711
up €17,711 (+816.1%), from €2,170 to €19,881
- Cash +€5,557
up €5,557 (+84.5%), from €6,572 to €12,129
mainly Trade debts (+€51,180) and Net result for the year (+€15,860)
- Trade debts +€51,180
up €51,180 (+3782.3%), from €1,353 to €52,534
- Profit (loss) carried forward +€15,860
up €15,860 (+78.2%), from €20,289 to €36,149
- Debts after one year +€14,558
new in 2025: €14,558
- Advances received +€12,700
new in 2025: €12,700
- Current portion of long-term debt +€4,566
new in 2025: €4,566
- Gross operating margin +€20,181
up €20,181 (+72.6%), from €27,791 to €47,972
- Depreciation +€8,507
up €8,507 (+504.2%), from €1,687 to €10,195
- Taxes +€2,632
up €2,632 (+146.8%), from €1,793 to €4,424
- Financial charges +€752
up €752 (+39.9%), from €1,886 to €2,638
- Staff costs -€528
down €528 (-3.5%), from €14,875 to €14,347
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 | €30,773 | €129,930 | +€99,157 | +322.2% |
| Formation expenses | 20 | €784 | €336 | -€448 | -57.1% |
| Fixed assets | 21/28 | €2,170 | €19,881 | +€17,711 | +816.1% |
| Tangible fixed assets | 22/27 | €2,170 | €19,881 | +€17,711 | +816.1% |
| Furniture and vehicles | 24 | €2,170 | €19,881 | +€17,711 | +816.1% |
| Current assets | 29/58 | €27,819 | €109,713 | +€81,894 | +294.4% |
| Amounts receivable within one year | 40/41 | €18,987 | €96,026 | +€77,039 | +405.7% |
| Trade receivables | 40 | €15,594 | €79,105 | +€63,512 | +407.3% |
| Other amounts receivable | 41 | €3,393 | €16,921 | +€13,527 | +398.6% |
| Cash at bank and in hand | 54/58 | €6,572 | €12,129 | +€5,557 | +84.5% |
| Deferred charges and accrued income | 490/1 | €2,260 | €1,558 | -€702 | -31.0% |
| Total equity and liabilities | 10/49 | €30,773 | €129,930 | +€99,157 | +322.2% |
| Equity | 10/15 | €25,289 | €41,149 | +€15,860 | +62.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,289 | €36,149 | +€15,860 | +78.2% |
| Amounts payable | 17/49 | €5,485 | €88,781 | +€83,297 | +1518.7% |
| Amounts payable after more than one year | 17 | - | €14,558 | +€14,558 | |
| Financial debts | 170/4 | - | €14,558 | +€14,558 | |
| Amounts payable within one year | 42/48 | €5,485 | €74,224 | +€68,739 | +1253.3% |
| Current portion of amounts payable after more than one year | 42 | - | €4,566 | +€4,566 | |
| Trade debts | 44 | €1,353 | €52,534 | +€51,180 | +3782.3% |
| Suppliers | 440/4 | €1,353 | €52,534 | +€51,180 | +3782.3% |
| Advances received on contracts in progress | 46 | - | €12,700 | +€12,700 | |
| Taxes, remuneration and social security | 45 | €4,131 | €4,424 | +€293 | +7.1% |
| Taxes | 450/3 | €4,131 | €4,424 | +€293 | +7.1% |
| Remuneration, social security and pensions | 62 | €14,875 | €14,347 | -€528 | -3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,687 | €10,195 | +€8,507 | +504.2% |
| Other operating charges | 640/8 | €536 | €1,004 | +€467 | +87.2% |
| Gross operating margin | 9900 | €27,791 | €47,972 | +€20,181 | +72.6% |
| Operating profit (loss) | 9901 | €10,692 | €22,426 | +€11,734 | +109.7% |
| Financial income | 75/76B | €108 | €496 | +€388 | +359.4% |
| Recurring financial income | 75 | €108 | €496 | +€388 | +359.4% |
| Financial charges | 65/66B | €1,886 | €2,638 | +€752 | +39.9% |
| Recurring financial charges | 65 | €1,886 | €2,638 | +€752 | +39.9% |
| Profit (loss) for the period before taxes | 9903 | €8,914 | €20,285 | +€11,370 | +127.6% |
| Income taxes | 67/77 | €1,793 | €4,424 | +€2,632 | +146.8% |
| Profit (loss) for the period | 9904 | €7,122 | €15,860 | +€8,739 | +122.7% |
| Profit (loss) for the period to be appropriated | 9905 | €7,122 | €15,860 | +€8,739 | +122.7% |
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 12 October 2026 via checked.be.