MBI: 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.
MBI
Largest movements
- Tangible fixed assets -€119,368
down €119,368 (-7.3%), from €1.6m to €1.5m
of which Land and buildings: -€87,621
- Receivables within one year +€63,553
up €63,553 (+11.6%), from €549,129 to €612,683
of which Trade receivables: +€47,432
- Stocks and contracts +€43,075
up €43,075 (+59.6%), from €72,250 to €115,325
- Cash +€31,408
up €31,408 (+4.0%), from €777,194 to €808,602
mainly Other debts (+€246,255) and Depreciation (+€180,544)
- Other debts +€246,255
new in 2025: €246,255
- Reserves -€177,774
down €177,774 (-6.5%), from €2.7m to €2.6m
of which Distributable reserves: -€177,774
- Debts after one year -€62,903
down €62,903 (-74.3%), from €84,680 to €21,777
- Gross operating margin -€104,420
down €104,420 (-18.0%), from €579,126 to €474,706
- Taxes -€62,567
down €62,567 (-63.9%), from €97,929 to €35,363
- Depreciation +€6,839
up €6,839 (+3.9%), from €173,705 to €180,544
- Other operating charges +€6,239
up €6,239 (+17.1%), from €36,576 to €42,815
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 | €3,066,912 | €3,103,036 | +€36,123 | +1.2% |
| Fixed assets | 21/28 | €1,645,415 | €1,526,047 | -€119,368 | -7.3% |
| Tangible fixed assets | 22/27 | €1,640,915 | €1,521,547 | -€119,368 | -7.3% |
| Land and buildings | 22 | €1,429,061 | €1,341,440 | -€87,621 | -6.1% |
| Plant, machinery and equipment | 23 | €38,624 | €38,106 | -€518 | -1.3% |
| Furniture and vehicles | 24 | €173,230 | €142,002 | -€31,229 | -18.0% |
| Financial fixed assets | 28 | €4,500 | €4,500 | = | 0.0% |
| Current assets | 29/58 | €1,421,497 | €1,576,988 | +€155,491 | +10.9% |
| Stocks and contracts in progress | 3 | €72,250 | €115,325 | +€43,075 | +59.6% |
| Stocks | 30/36 | €72,250 | €115,325 | +€43,075 | +59.6% |
| Amounts receivable within one year | 40/41 | €549,129 | €612,683 | +€63,553 | +11.6% |
| Trade receivables | 40 | €455,059 | €502,492 | +€47,432 | +10.4% |
| Other amounts receivable | 41 | €94,070 | €110,191 | +€16,121 | +17.1% |
| Cash at bank and in hand | 54/58 | €777,194 | €808,602 | +€31,408 | +4.0% |
| Deferred charges and accrued income | 490/1 | €22,924 | €40,378 | +€17,454 | +76.1% |
| Total equity and liabilities | 10/49 | €3,066,912 | €3,103,036 | +€36,123 | +1.2% |
| Equity | 10/15 | €2,769,850 | €2,592,075 | -€177,774 | -6.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,749,850 | €2,572,075 | -€177,774 | -6.5% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €2,747,850 | €2,570,075 | -€177,774 | -6.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €297,063 | €510,960 | +€213,898 | +72.0% |
| Amounts payable after more than one year | 17 | €84,680 | €21,777 | -€62,903 | -74.3% |
| Financial debts | 170/4 | €84,680 | €21,777 | -€62,903 | -74.3% |
| Amounts payable within one year | 42/48 | €212,383 | €489,183 | +€276,801 | +130.3% |
| Current portion of amounts payable after more than one year | 42 | €66,108 | €62,903 | -€3,205 | -4.8% |
| Trade debts | 44 | €110,243 | €133,639 | +€23,396 | +21.2% |
| Suppliers | 440/4 | €110,243 | €133,639 | +€23,396 | +21.2% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €36,032 | €46,386 | +€10,354 | +28.7% |
| Taxes | 450/3 | - | €16,189 | +€16,189 | |
| Remuneration and social security | 454/9 | €36,032 | €30,197 | -€5,835 | -16.2% |
| Other amounts payable | 47/48 | - | €246,255 | +€246,255 | |
| Non-recurring operating income | 76A | €9,056 | €0 | -€9,056 | -100.0% |
| Remuneration, social security and pensions | 62 | €137,362 | €140,276 | +€2,914 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €173,705 | €180,544 | +€6,839 | +3.9% |
| Other operating charges | 640/8 | €36,576 | €42,815 | +€6,239 | +17.1% |
| Gross operating margin | 9900 | €579,126 | €474,706 | -€104,420 | -18.0% |
| Operating profit (loss) | 9901 | €231,482 | €111,069 | -€120,413 | -52.0% |
| Financial income | 75/76B | €2,833 | €2,209 | -€624 | -22.0% |
| Recurring financial income | 75 | €2,833 | €2,209 | -€624 | -22.0% |
| Financial charges | 65/66B | €8,271 | €9,435 | +€1,164 | +14.1% |
| Recurring financial charges | 65 | €8,271 | €9,435 | +€1,164 | +14.1% |
| Profit (loss) for the period before taxes | 9903 | €226,045 | €103,843 | -€122,201 | -54.1% |
| Income taxes | 67/77 | €97,929 | €35,363 | -€62,567 | -63.9% |
| Profit (loss) for the period | 9904 | €128,116 | €68,481 | -€59,635 | -46.5% |
| Profit (loss) for the period to be appropriated | 9905 | €128,116 | €68,481 | -€59,635 | -46.5% |
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 30 September 2026 via checked.be.