MBARY: what changed
Two fiscal 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.
MBARY
Largest movements
- Receivables within one year -€61,353
down €61,353 (-35.7%), from €171,946 to €110,593
of which Other amounts receivable: -€61,353
- Stocks and contracts +€29,550
new in 2025: €29,550
- Cash +€23,483
new in 2025: €23,483
mainly Receivables within one year (+€61,353) and Trade debts (+€46,236)
- Tangible fixed assets +€9,989
up €9,989 (+588.2%), from €1,698 to €11,688
of which Plant, machinery and equipment: +€10,329
- Other debts -€60,000
no longer reported in 2025 (was €60,000)
- Trade debts +€46,236
up €46,236 (+697.9%), from €6,625 to €52,861
- Profit (loss) carried forward +€16,291
up €16,291 (+15.5%), from €105,162 to €121,453
- Gross operating margin -€111,080
down €111,080 (-63.8%), from €174,126 to €63,047
- Turnover -€60,105
down €60,105 (-14.0%), from €429,558 to €369,454
- Purchases and services +€50,975
up €50,975 (+20.0%), from €255,432 to €306,407
- Staff costs +€35,646
up €35,646 (+1172.5%), from €3,040 to €38,686
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 | €173,644 | €175,314 | +€1,670 | +1.0% |
| Fixed assets | 21/28 | €1,698 | €11,688 | +€9,989 | +588.2% |
| Tangible fixed assets | 22/27 | €1,698 | €11,688 | +€9,989 | +588.2% |
| Plant, machinery and equipment | 23 | - | €10,329 | +€10,329 | |
| Furniture and vehicles | 24 | €1,698 | €1,359 | -€340 | -20.0% |
| Current assets | 29/58 | €171,946 | €163,626 | -€8,320 | -4.8% |
| Stocks and contracts in progress | 3 | - | €29,550 | +€29,550 | |
| Stocks | 30/36 | - | €29,550 | +€29,550 | |
| Amounts receivable within one year | 40/41 | €171,946 | €110,593 | -€61,353 | -35.7% |
| Trade receivables | 40 | €109,664 | €109,664 | = | 0.0% |
| Other amounts receivable | 41 | €62,282 | €929 | -€61,353 | -98.5% |
| Cash at bank and in hand | 54/58 | - | €23,483 | +€23,483 | |
| Total equity and liabilities | 10/49 | €173,644 | €175,314 | +€1,670 | +1.0% |
| Equity | 10/15 | €106,162 | €122,453 | +€16,291 | +15.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Outside capital | 11 | €1,000 | €1,000 | = | 0.0% |
| Share premium | 1100/10 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €105,162 | €121,453 | +€16,291 | +15.5% |
| Amounts payable | 17/49 | €67,483 | €52,861 | -€14,622 | -21.7% |
| Amounts payable within one year | 42/48 | €67,483 | €52,861 | -€14,622 | -21.7% |
| Financial debts | 43 | €858 | - | -€858 | |
| Credit institutions | 430/8 | €858 | - | -€858 | |
| Trade debts | 44 | €6,625 | €52,861 | +€46,236 | +697.9% |
| Suppliers | 440/4 | €6,625 | €52,861 | +€46,236 | +697.9% |
| Other amounts payable | 47/48 | €60,000 | - | -€60,000 | |
| Turnover | 70 | €429,558 | €369,454 | -€60,105 | -14.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €255,432 | €306,407 | +€50,975 | +20.0% |
| Remuneration, social security and pensions | 62 | €3,040 | €38,686 | +€35,646 | +1172.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €425 | €2,922 | +€2,497 | +588.2% |
| Other operating charges | 640/8 | €6,894 | €4,548 | -€2,346 | -34.0% |
| Gross operating margin | 9900 | €174,126 | €63,047 | -€111,080 | -63.8% |
| Operating profit (loss) | 9901 | €163,767 | €16,891 | -€146,877 | -89.7% |
| Financial income | 75/76B | €1,756 | - | -€1,756 | |
| Recurring financial income | 75 | €1,756 | - | -€1,756 | |
| Financial charges | 65/66B | €361 | €407 | +€46 | +12.7% |
| Recurring financial charges | 65 | €361 | €407 | +€46 | +12.7% |
| Profit (loss) for the period before taxes | 9903 | €165,162 | €16,484 | -€148,678 | -90.0% |
| Income taxes | 67/77 | - | €193 | +€193 | |
| Profit (loss) for the period | 9904 | €165,162 | €16,291 | -€148,871 | -90.1% |
| Profit (loss) for the period to be appropriated | 9905 | €165,162 | €16,291 | -€148,871 | -90.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.