MBLM: 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.
MBLM
Largest movements
- Receivables within one year +€169,707
up €169,707 (+55.4%), from €306,436 to €476,143
of which Other amounts receivable: +€157,607
- Current investments -€150,000
down €150,000 (-42.9%), from €350,000 to €200,000
- Other debts -€449,850
down €449,850 (-98.9%), from €454,636 to €4,786
- Reserves +€429,064
up €429,064 (+94.9%), from €451,998 to €881,062
of which Distributable reserves: +€222,774
- Tax, wage and social debts +€39,983
up €39,983 (+179.2%), from €22,308 to €62,291
- Gross operating margin -€22,959
down €22,959 (-4.0%), from €573,825 to €550,866
- Taxes -€10,819
down €10,819 (-7.5%), from €144,995 to €134,176
- Financial income -€9,316
down €9,316 (-39.3%), from €23,677 to €14,360
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 | €939,521 | €958,251 | +€18,730 | +2.0% |
| Fixed assets | 21/28 | €0 | €3,572 | +€3,572 | |
| Tangible fixed assets | 22/27 | €0 | €3,572 | +€3,572 | |
| Furniture and vehicles | 24 | €0 | €3,572 | +€3,572 | |
| Current assets | 29/58 | €939,521 | €954,679 | +€15,158 | +1.6% |
| Amounts receivable within one year | 40/41 | €306,436 | €476,143 | +€169,707 | +55.4% |
| Trade receivables | 40 | €76,230 | €88,330 | +€12,100 | +15.9% |
| Other amounts receivable | 41 | €230,206 | €387,813 | +€157,607 | +68.5% |
| Current investments | 50/53 | €350,000 | €200,000 | -€150,000 | -42.9% |
| Cash at bank and in hand | 54/58 | €281,734 | €278,163 | -€3,572 | -1.3% |
| Deferred charges and accrued income | 490/1 | €1,351 | €374 | -€978 | -72.3% |
| Total equity and liabilities | 10/49 | €939,521 | €958,251 | +€18,730 | +2.0% |
| Equity | 10/15 | €461,998 | €891,062 | +€429,064 | +92.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €451,998 | €881,062 | +€429,064 | +94.9% |
| Tax-exempt reserves | 132 | - | €206,290 | +€206,290 | |
| Distributable reserves | 133 | €451,998 | €674,772 | +€222,774 | +49.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €477,524 | €67,189 | -€410,335 | -85.9% |
| Amounts payable within one year | 42/48 | €476,945 | €67,077 | -€409,868 | -85.9% |
| Taxes, remuneration and social security | 45 | €22,308 | €62,291 | +€39,983 | +179.2% |
| Taxes | 450/3 | €22,308 | €62,291 | +€39,983 | +179.2% |
| Other amounts payable | 47/48 | €454,636 | €4,786 | -€449,850 | -98.9% |
| Accrued charges and deferred income | 492/3 | €579 | €112 | -€467 | -80.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6 | €475 | +€469 | +7943.5% |
| Other operating charges | 640/8 | €577 | €1,192 | +€615 | +106.6% |
| Gross operating margin | 9900 | €573,825 | €550,866 | -€22,959 | -4.0% |
| Operating profit (loss) | 9901 | €573,242 | €549,199 | -€24,044 | -4.2% |
| Financial income | 75/76B | €23,677 | €14,360 | -€9,316 | -39.3% |
| Recurring financial income | 75 | €23,677 | €14,360 | -€9,316 | -39.3% |
| Financial charges | 65/66B | €600 | €318 | -€282 | -47.0% |
| Recurring financial charges | 65 | €600 | €318 | -€282 | -47.0% |
| Profit (loss) for the period before taxes | 9903 | €596,319 | €563,241 | -€33,078 | -5.5% |
| Income taxes | 67/77 | €144,995 | €134,176 | -€10,819 | -7.5% |
| Profit (loss) for the period | 9904 | €451,324 | €429,064 | -€22,260 | -4.9% |
| Transfer to tax-exempt reserves | 689 | - | €206,290 | +€206,290 | |
| Profit (loss) for the period to be appropriated | 9905 | €451,324 | €222,774 | -€228,550 | -50.6% |
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.