MBA GROUP: 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 GROUP
Largest movements
- Tangible fixed assets -€36,340
down €36,340 (-6.6%), from €552,215 to €515,875
of which Land and buildings: -€29,596
- Cash -€29,986
down €29,986 (-28.0%), from €107,086 to €77,099
mainly Other debts (-€61,857) and Debts after one year (-€37,026)
- Receivables within one year +€6,740
up €6,740 (+576%), from €1,170 to €7,910
of which Other amounts receivable: +€4,503
- Other debts -€61,857
down €61,857 (-77.1%), from €80,231 to €18,374
- Reserves +€57,000
up €57,000 (+25.0%), from €227,587 to €284,587
of which Distributable reserves: +€57,000
- Debts after one year -€37,026
down €37,026 (-14.4%), from €257,532 to €220,507
- Trade debts -€18,954
down €18,954 (-60.0%), from €31,588 to €12,634
- Gross operating margin +€7,217
up €7,217 (+5.9%), from €122,518 to €129,735
- Depreciation +€2,235
up €2,235 (+6.2%), from €35,817 to €38,052
- Taxes +€2,055
up €2,055 (+9.4%), from €21,897 to €23,952
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 | €669,245 | €609,673 | -€59,573 | -8.9% |
| Fixed assets | 21/28 | €559,441 | €523,100 | -€36,340 | -6.5% |
| Intangible fixed assets | 21 | €7,225 | €7,225 | = | 0.0% |
| Tangible fixed assets | 22/27 | €552,215 | €515,875 | -€36,340 | -6.6% |
| Land and buildings | 22 | €475,472 | €445,876 | -€29,596 | -6.2% |
| Plant, machinery and equipment | 23 | €2,655 | €1,181 | -€1,475 | -55.5% |
| Furniture and vehicles | 24 | - | €1,465 | +€1,465 | |
| Leasing and similar rights | 25 | €74,088 | €67,353 | -€6,735 | -9.1% |
| Current assets | 29/58 | €109,805 | €86,572 | -€23,232 | -21.2% |
| Amounts receivable within one year | 40/41 | €1,170 | €7,910 | +€6,740 | +576% |
| Trade receivables | 40 | €1,170 | €3,407 | +€2,237 | +191% |
| Other amounts receivable | 41 | €0 | €4,503 | +€4,503 | |
| Cash at bank and in hand | 54/58 | €107,086 | €77,099 | -€29,986 | -28.0% |
| Deferred charges and accrued income | 490/1 | €1,549 | €1,563 | +€14 | +0.9% |
| Total equity and liabilities | 10/49 | €669,245 | €609,673 | -€59,573 | -8.9% |
| Equity | 10/15 | €234,403 | €291,403 | +€57,001 | +24.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €227,587 | €284,587 | +€57,000 | +25.0% |
| Tax-exempt reserves | 132 | €6,327 | €6,327 | = | 0.0% |
| Distributable reserves | 133 | €221,260 | €278,260 | +€57,000 | +25.8% |
| Profit (loss) carried forward | 14 | €615 | €616 | +€1 | +0.1% |
| Amounts payable | 17/49 | €434,843 | €318,269 | -€116,573 | -26.8% |
| Amounts payable after more than one year | 17 | €257,532 | €220,507 | -€37,026 | -14.4% |
| Financial debts | 170/4 | €257,532 | €220,507 | -€37,026 | -14.4% |
| Amounts payable within one year | 42/48 | €177,311 | €97,763 | -€79,548 | -44.9% |
| Current portion of amounts payable after more than one year | 42 | €36,504 | €37,026 | +€521 | +1.4% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €31,588 | €12,634 | -€18,954 | -60.0% |
| Suppliers | 440/4 | €31,588 | €12,634 | -€18,954 | -60.0% |
| Taxes, remuneration and social security | 45 | €28,988 | €29,730 | +€742 | +2.6% |
| Taxes | 450/3 | €24,988 | €25,730 | +€742 | +3.0% |
| Remuneration and social security | 454/9 | €4,000 | €4,000 | = | 0.0% |
| Other amounts payable | 47/48 | €80,231 | €18,374 | -€61,857 | -77.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €46 | €254 | +€209 | +457% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,817 | €38,052 | +€2,235 | +6.2% |
| Other operating charges | 640/8 | €3,698 | €3,599 | -€99 | -2.7% |
| Gross operating margin | 9900 | €122,518 | €129,735 | +€7,217 | +5.9% |
| Operating profit (loss) | 9901 | €82,957 | €87,830 | +€4,873 | +5.9% |
| Financial income | 75/76B | €3 | €16 | +€13 | +440% |
| Recurring financial income | 75 | €3 | €16 | +€13 | +440% |
| Financial charges | 65/66B | €6,742 | €6,893 | +€151 | +2.2% |
| Recurring financial charges | 65 | €6,742 | €6,893 | +€151 | +2.2% |
| Profit (loss) for the period before taxes | 9903 | €76,218 | €80,953 | +€4,735 | +6.2% |
| Income taxes | 67/77 | €21,897 | €23,952 | +€2,055 | +9.4% |
| Profit (loss) for the period | 9904 | €54,321 | €57,001 | +€2,679 | +4.9% |
| Profit (loss) for the period to be appropriated | 9905 | €54,321 | €57,001 | +€2,679 | +4.9% |
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 14 October 2026 via checked.be.