MBEGE: 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.
MBEGE
Largest movements
- Receivables within one year +€12,887
up €12,887 (+13071.7%), from €99 to €12,986
of which Other amounts receivable: +€12,590
- Cash -€3,890
down €3,890 (-85.8%), from €4,533 to €643
mainly Receivables within one year (-€12,887) and Current portion of long-term debt (-€1,528)
- Tangible fixed assets -€2,118
down €2,118 (-27.3%), from €7,767 to €5,649
of which Plant, machinery and equipment: -€1,457
- Receivables after one year +€701
up €701 (+2.3%), from €30,330 to €31,031
- Profit (loss) carried forward +€4,340
up €4,340 (+39.6%), from -€10,953 to -€6,613
- Short-term financial debts +€2,999
up €2,999 (+26.5%), from €11,315 to €14,313
- Tax, wage and social debts +€2,710
up €2,710 (+56.0%), from €4,836 to €7,546
- Current portion of long-term debt -€1,528
no longer reported in 2025 (was €1,528)
- Gross operating margin +€4,403
up €4,403 (+66.5%), from €6,624 to €11,027
- Taxes +€2,592
up €2,592 (+635.3%), from €408 to €3,000
- Depreciation -€1,763
down €1,763 (-45.4%), from €3,881 to €2,118
- Financial income +€433
up €433 (+61.6%), from €703 to €1,137
- Other operating charges +€154
up €154 (+13.1%), from €1,177 to €1,331
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 | €43,323 | €51,238 | +€7,915 | +18.3% |
| Fixed assets | 21/28 | €7,887 | €5,769 | -€2,118 | -26.9% |
| Tangible fixed assets | 22/27 | €7,767 | €5,649 | -€2,118 | -27.3% |
| Land and buildings | 22 | €1,500 | €1,000 | -€500 | -33.3% |
| Plant, machinery and equipment | 23 | €6,106 | €4,649 | -€1,457 | -23.9% |
| Furniture and vehicles | 24 | €161 | - | -€161 | |
| Financial fixed assets | 28 | €120 | €120 | = | 0.0% |
| Current assets | 29/58 | €35,435 | €45,469 | +€10,033 | +28.3% |
| Amounts receivable after more than one year | 29 | €30,330 | €31,031 | +€701 | +2.3% |
| Other amounts receivable | 291 | €30,330 | €31,031 | +€701 | +2.3% |
| Amounts receivable within one year | 40/41 | €99 | €12,986 | +€12,887 | +13071.7% |
| Trade receivables | 40 | €99 | €396 | +€298 | +302.1% |
| Other amounts receivable | 41 | - | €12,590 | +€12,590 | |
| Cash at bank and in hand | 54/58 | €4,533 | €643 | -€3,890 | -85.8% |
| Deferred charges and accrued income | 490/1 | €474 | €809 | +€335 | +70.7% |
| Total equity and liabilities | 10/49 | €43,323 | €51,238 | +€7,915 | +18.3% |
| Equity | 10/15 | €15,549 | €19,889 | +€4,340 | +27.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €20,302 | €20,302 | = | 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 | €18,442 | €18,442 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,953 | -€6,613 | +€4,340 | +39.6% |
| Amounts payable | 17/49 | €27,773 | €31,349 | +€3,576 | +12.9% |
| Amounts payable within one year | 42/48 | €27,773 | €31,349 | +€3,576 | +12.9% |
| Current portion of amounts payable after more than one year | 42 | €1,528 | - | -€1,528 | |
| Financial debts | 43 | €11,315 | €14,313 | +€2,999 | +26.5% |
| Credit institutions | 430/8 | €11,315 | €14,313 | +€2,999 | +26.5% |
| Trade debts | 44 | €6,239 | €5,890 | -€349 | -5.6% |
| Suppliers | 440/4 | €6,239 | €5,890 | -€349 | -5.6% |
| Advances received on contracts in progress | 46 | €3,600 | €3,600 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €4,836 | €7,546 | +€2,710 | +56.0% |
| Taxes | 450/3 | €4,836 | €7,546 | +€2,710 | +56.0% |
| Other amounts payable | 47/48 | €257 | - | -€257 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,881 | €2,118 | -€1,763 | -45.4% |
| Other operating charges | 640/8 | €1,177 | €1,331 | +€154 | +13.1% |
| Gross operating margin | 9900 | €6,624 | €11,027 | +€4,403 | +66.5% |
| Operating profit (loss) | 9901 | €1,566 | €7,579 | +€6,012 | +383.9% |
| Financial income | 75/76B | €703 | €1,137 | +€433 | +61.6% |
| Recurring financial income | 75 | €703 | €1,137 | +€433 | +61.6% |
| Financial charges | 65/66B | €1,510 | €1,376 | -€134 | -8.8% |
| Recurring financial charges | 65 | €1,510 | €1,376 | -€134 | -8.8% |
| Profit (loss) for the period before taxes | 9903 | €760 | €7,339 | +€6,579 | +865.7% |
| Income taxes | 67/77 | €408 | €3,000 | +€2,592 | +635.3% |
| Profit (loss) for the period | 9904 | €352 | €4,340 | +€3,988 | +1132.6% |
| Profit (loss) for the period to be appropriated | 9905 | €352 | €4,340 | +€3,988 | +1132.6% |
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 28 September 2026 via checked.be.