MBDX: 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.
MBDX
Largest movements
- Receivables within one year +€65,056
up €65,056 (+5909.3%), from €1,101 to €66,157
- Intangible fixed assets -€44,800
down €44,800 (-77.7%), from €57,633 to €12,833
- Cash +€6,380
up €6,380 (+107.6%), from €5,931 to €12,311
mainly Investment in fixed assets (net) (+€39,482) and Net result for the year (+€27,185)
- Tangible fixed assets -€5,171
down €5,171 (-25.9%), from €20,000 to €14,829
of which Furniture and vehicles: -€2,826
- Other debts -€36,129
down €36,129 (-93.5%), from €38,651 to €2,522
- Profit (loss) carried forward +€27,185
up €27,185 (+35.5%), from -€76,532 to -€49,347
- Tax, wage and social debts +€23,239
up €23,239 (+1626.2%), from €1,429 to €24,668
of which Taxes: +€19,968
- Accrued charges and deferred income +€5,867
up €5,867 (+66.3%), from €8,851 to €14,717
- Gross operating margin +€41,686
up €41,686 (+245.7%), from €16,969 to €58,654
- Taxes +€13,200
new in 2025: €13,200
- Financial charges +€1,081
up €1,081 (+21.8%), from €4,958 to €6,039
- Depreciation +€688
up €688 (+7.0%), from €9,801 to €10,489
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 | €85,051 | €106,130 | +€21,079 | +24.8% |
| Fixed assets | 21/28 | €77,633 | €27,663 | -€49,971 | -64.4% |
| Intangible fixed assets | 21 | €57,633 | €12,833 | -€44,800 | -77.7% |
| Tangible fixed assets | 22/27 | €20,000 | €14,829 | -€5,171 | -25.9% |
| Plant, machinery and equipment | 23 | €3,895 | €2,940 | -€955 | -24.5% |
| Furniture and vehicles | 24 | €11,816 | €8,990 | -€2,826 | -23.9% |
| Other tangible fixed assets | 26 | €4,289 | €2,899 | -€1,390 | -32.4% |
| Current assets | 29/58 | €7,418 | €78,468 | +€71,050 | +957.8% |
| Amounts receivable within one year | 40/41 | €1,101 | €66,157 | +€65,056 | +5909.3% |
| Trade receivables | 40 | €1,101 | €66,157 | +€65,056 | +5909.3% |
| Cash at bank and in hand | 54/58 | €5,931 | €12,311 | +€6,380 | +107.6% |
| Deferred charges and accrued income | 490/1 | €386 | - | -€386 | |
| Total equity and liabilities | 10/49 | €85,051 | €106,130 | +€21,079 | +24.8% |
| Equity | 10/15 | -€44,622 | -€17,437 | +€27,185 | +60.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €13,310 | €13,310 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €11,450 | €11,450 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€76,532 | -€49,347 | +€27,185 | +35.5% |
| Amounts payable | 17/49 | €129,674 | €123,568 | -€6,106 | -4.7% |
| Amounts payable after more than one year | 17 | €80,000 | €80,000 | = | 0.0% |
| Financial debts | 170/4 | €80,000 | €80,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €40,823 | €28,850 | -€11,973 | -29.3% |
| Trade debts | 44 | €743 | €1,660 | +€917 | +123.5% |
| Suppliers | 440/4 | €743 | €1,660 | +€917 | +123.5% |
| Taxes, remuneration and social security | 45 | €1,429 | €24,668 | +€23,239 | +1626.2% |
| Taxes | 450/3 | €1,429 | €21,397 | +€19,968 | +1397.4% |
| Remuneration and social security | 454/9 | - | €3,270 | +€3,270 | |
| Other amounts payable | 47/48 | €38,651 | €2,522 | -€36,129 | -93.5% |
| Accrued charges and deferred income | 492/3 | €8,851 | €14,717 | +€5,867 | +66.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,801 | €10,489 | +€688 | +7.0% |
| Other operating charges | 640/8 | €1,429 | €1,472 | +€43 | +3.0% |
| Non-recurring operating charges | 66A | - | €279 | +€279 | |
| Gross operating margin | 9900 | €16,969 | €58,654 | +€41,686 | +245.7% |
| Operating profit (loss) | 9901 | €5,738 | €46,414 | +€40,676 | +708.9% |
| Financial income | 75/76B | €0 | €10 | +€10 | +14214.3% |
| Recurring financial income | 75 | €0 | €10 | +€10 | +14214.3% |
| Financial charges | 65/66B | €4,958 | €6,039 | +€1,081 | +21.8% |
| Recurring financial charges | 65 | €4,958 | €6,039 | +€1,081 | +21.8% |
| Profit (loss) for the period before taxes | 9903 | €780 | €40,385 | +€39,605 | +5077.6% |
| Income taxes | 67/77 | - | €13,200 | +€13,200 | |
| Profit (loss) for the period | 9904 | €780 | €27,185 | +€26,405 | +3385.3% |
| Profit (loss) for the period to be appropriated | 9905 | €780 | €27,185 | +€26,405 | +3385.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.