MBD&A: 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.
MBD&A
Largest movements
- Cash +€18,095
up €18,095 (+53.6%), from €33,788 to €51,882
mainly Deferred charges and accrued income (+€14,073) and Net result for the year (+€13,757)
- Deferred charges and accrued income -€14,073
down €14,073 (-95.3%), from €14,769 to €697
- Receivables within one year +€7,393
up €7,393 (+20.6%), from €35,861 to €43,254
- Reserves +€13,757
up €13,757 (+21.7%), from €63,451 to €77,208
- Tax, wage and social debts -€4,065
down €4,065 (-20.1%), from €20,196 to €16,131
of which Remuneration and social security: -€5,827
- Trade debts +€2,156
up €2,156 (+104.1%), from €2,071 to €4,227
- Gross operating margin +€13,286
up €13,286 (+127.9%), from €10,391 to €23,677
- Taxes +€2,230
up €2,230 (+114.6%), from €1,946 to €4,176
- Depreciation +€582
up €582 (+18.4%), from €3,165 to €3,747
- Financial charges +€332
up €332 (+74.7%), from €444 to €776
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 | €88,718 | €100,838 | +€12,120 | +13.7% |
| Fixed assets | 21/28 | €4,300 | €5,005 | +€705 | +16.4% |
| Tangible fixed assets | 22/27 | €4,300 | €5,005 | +€705 | +16.4% |
| Plant, machinery and equipment | 23 | €4,300 | €5,005 | +€705 | +16.4% |
| Current assets | 29/58 | €84,418 | €95,833 | +€11,415 | +13.5% |
| Amounts receivable within one year | 40/41 | €35,861 | €43,254 | +€7,393 | +20.6% |
| Trade receivables | 40 | €35,861 | €43,254 | +€7,393 | +20.6% |
| Cash at bank and in hand | 54/58 | €33,788 | €51,882 | +€18,095 | +53.6% |
| Deferred charges and accrued income | 490/1 | €14,769 | €697 | -€14,073 | -95.3% |
| Total equity and liabilities | 10/49 | €88,718 | €100,838 | +€12,120 | +13.7% |
| Equity | 10/15 | €66,451 | €80,208 | +€13,757 | +20.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €63,451 | €77,208 | +€13,757 | +21.7% |
| Distributable reserves | 133 | €63,451 | €77,208 | +€13,757 | +21.7% |
| Amounts payable | 17/49 | €22,267 | €20,630 | -€1,637 | -7.4% |
| Amounts payable within one year | 42/48 | €22,267 | €20,358 | -€1,908 | -8.6% |
| Trade debts | 44 | €2,071 | €4,227 | +€2,156 | +104.1% |
| Suppliers | 440/4 | €2,071 | €4,227 | +€2,156 | +104.1% |
| Taxes, remuneration and social security | 45 | €20,196 | €16,131 | -€4,065 | -20.1% |
| Taxes | 450/3 | €14,196 | €15,958 | +€1,762 | +12.4% |
| Remuneration and social security | 454/9 | €6,000 | €173 | -€5,827 | -97.1% |
| Accrued charges and deferred income | 492/3 | - | €271 | +€271 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,165 | €3,747 | +€582 | +18.4% |
| Other operating charges | 640/8 | €1,482 | €1,250 | -€233 | -15.7% |
| Gross operating margin | 9900 | €10,391 | €23,677 | +€13,286 | +127.9% |
| Operating profit (loss) | 9901 | €5,744 | €18,680 | +€12,937 | +225.2% |
| Financial income | 75/76B | €111 | €29 | -€82 | -74.0% |
| Recurring financial income | 75 | €111 | €29 | -€82 | -74.0% |
| Financial charges | 65/66B | €444 | €776 | +€332 | +74.7% |
| Recurring financial charges | 65 | €444 | €776 | +€332 | +74.7% |
| Profit (loss) for the period before taxes | 9903 | €5,411 | €17,933 | +€12,522 | +231.4% |
| Income taxes | 67/77 | €1,946 | €4,176 | +€2,230 | +114.6% |
| Profit (loss) for the period | 9904 | €3,464 | €13,757 | +€10,292 | +297.1% |
| Profit (loss) for the period to be appropriated | 9905 | €3,464 | €13,757 | +€10,292 | +297.1% |
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 7 October 2026 via checked.be.