MBC: 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.
MBC
Largest movements
- Stocks and contracts +€204,404
up €204,404 (+1703.4%), from €12,000 to €216,404
of which Stocks: +€198,404
- Cash +€38,351
up €38,351 (+108.9%), from €35,228 to €73,579
mainly Debts after one year (+€111,764) and Trade debts (+€66,719)
- Tangible fixed assets -€13,459
down €13,459 (-15.9%), from €84,523 to €71,064
of which Furniture and vehicles: -€17,290
- Deferred charges and accrued income -€5,052
down €5,052 (-52.3%), from €9,665 to €4,612
- Receivables within one year +€5,049
up €5,049 (+5.9%), from €86,281 to €91,331
of which Trade receivables: +€17,868
- Debts after one year +€111,764
up €111,764 (+178.0%), from €62,785 to €174,549
- Trade debts +€66,719
up €66,719 (+96.7%), from €68,986 to €135,705
- Profit (loss) carried forward +€42,465
up €42,465 (+340.5%), from €12,472 to €54,937
- Current portion of long-term debt +€8,360
up €8,360 (+45.5%), from €18,360 to €26,720
- Gross operating margin +€56,288
up €56,288 (+69.2%), from €81,328 to €137,616
- Depreciation +€9,216
up €9,216 (+62.8%), from €14,684 to €23,901
- Taxes +€8,927
up €8,927 (+255.5%), from €3,494 to €12,420
- Financial charges +€5,641
up €5,641 (+223.8%), from €2,520 to €8,161
- Financial income +€2,468
up €2,468 (+167.6%), from €1,473 to €3,941
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 | €228,729 | €457,727 | +€228,998 | +100.1% |
| Formation expenses | 20 | €432 | €137 | -€295 | -68.2% |
| Fixed assets | 21/28 | €85,123 | €71,664 | -€13,459 | -15.8% |
| Tangible fixed assets | 22/27 | €84,523 | €71,064 | -€13,459 | -15.9% |
| Plant, machinery and equipment | 23 | €3,079 | €6,909 | +€3,830 | +124.4% |
| Furniture and vehicles | 24 | €81,444 | €64,155 | -€17,290 | -21.2% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €143,174 | €385,926 | +€242,752 | +169.6% |
| Stocks and contracts in progress | 3 | €12,000 | €216,404 | +€204,404 | +1703.4% |
| Stocks | 30/36 | €4,000 | €202,404 | +€198,404 | +4960.1% |
| Contracts in progress | 37 | €8,000 | €14,000 | +€6,000 | +75.0% |
| Amounts receivable within one year | 40/41 | €86,281 | €91,331 | +€5,049 | +5.9% |
| Trade receivables | 40 | €48,170 | €66,038 | +€17,868 | +37.1% |
| Other amounts receivable | 41 | €38,112 | €25,293 | -€12,819 | -33.6% |
| Cash at bank and in hand | 54/58 | €35,228 | €73,579 | +€38,351 | +108.9% |
| Deferred charges and accrued income | 490/1 | €9,665 | €4,612 | -€5,052 | -52.3% |
| Total equity and liabilities | 10/49 | €228,729 | €457,727 | +€228,998 | +100.1% |
| Equity | 10/15 | €65,957 | €108,422 | +€42,465 | +64.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €33,485 | €33,485 | = | 0.0% |
| Distributable reserves | 133 | €33,485 | €33,485 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,472 | €54,937 | +€42,465 | +340.5% |
| Amounts payable | 17/49 | €162,772 | €349,305 | +€186,533 | +114.6% |
| Amounts payable after more than one year | 17 | €62,785 | €174,549 | +€111,764 | +178.0% |
| Financial debts | 170/4 | €62,785 | €174,549 | +€111,764 | +178.0% |
| Amounts payable within one year | 42/48 | €98,988 | €173,256 | +€74,269 | +75.0% |
| Current portion of amounts payable after more than one year | 42 | €18,360 | €26,720 | +€8,360 | +45.5% |
| Trade debts | 44 | €68,986 | €135,705 | +€66,719 | +96.7% |
| Suppliers | 440/4 | €68,986 | €135,705 | +€66,719 | +96.7% |
| Taxes, remuneration and social security | 45 | €11,642 | €10,831 | -€811 | -7.0% |
| Taxes | 450/3 | €2,264 | €404 | -€1,861 | -82.2% |
| Remuneration and social security | 454/9 | €9,378 | €10,428 | +€1,050 | +11.2% |
| Accrued charges and deferred income | 492/3 | €1,000 | €1,500 | +€500 | +50.0% |
| Remuneration, social security and pensions | 62 | €51,661 | €52,981 | +€1,320 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,684 | €23,901 | +€9,216 | +62.8% |
| Other operating charges | 640/8 | €1,549 | €1,629 | +€80 | +5.1% |
| Gross operating margin | 9900 | €81,328 | €137,616 | +€56,288 | +69.2% |
| Operating profit (loss) | 9901 | €13,434 | €59,106 | +€45,672 | +340.0% |
| Financial income | 75/76B | €1,473 | €3,941 | +€2,468 | +167.6% |
| Recurring financial income | 75 | €1,473 | €3,941 | +€2,468 | +167.6% |
| Financial charges | 65/66B | €2,520 | €8,161 | +€5,641 | +223.8% |
| Recurring financial charges | 65 | €2,520 | €8,161 | +€5,641 | +223.8% |
| Profit (loss) for the period before taxes | 9903 | €12,387 | €54,885 | +€42,499 | +343.1% |
| Income taxes | 67/77 | €3,494 | €12,420 | +€8,927 | +255.5% |
| Profit (loss) for the period | 9904 | €8,893 | €42,465 | +€33,572 | +377.5% |
| Profit (loss) for the period to be appropriated | 9905 | €8,893 | €42,465 | +€33,572 | +377.5% |
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.