MBM Advisory: what changed
Two financial 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.
MBM Advisory
Largest movements
- Cash +€95,021
up €95,021 (+184.2%), from €51,584 to €146,605
mainly Net result for the year (+€96,518) and Tax, wage and social debts (+€43,306)
- Receivables within one year +€42,263
up €42,263 (+66.9%), from €63,218 to €105,482
of which Other amounts receivable: +€45,000
- Reserves +€96,518
up €96,518 (+135.9%), from €71,013 to €167,532
- Tax, wage and social debts +€43,306
up €43,306 (+84.6%), from €51,203 to €94,508
- Gross operating margin +€35,579
up €35,579 (+33.0%), from €107,724 to €143,303
- Taxes +€6,051
up €6,051 (+17.6%), from €34,475 to €40,525
- Depreciation +€2,568
up €2,568 (+427.9%), from €600 to €3,168
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 | €130,034 | €270,279 | +€140,245 | +107.9% |
| Fixed assets | 21/28 | €12,568 | €15,252 | +€2,685 | +21.4% |
| Tangible fixed assets | 22/27 | €12,568 | €15,252 | +€2,685 | +21.4% |
| Furniture and vehicles | 24 | €12,568 | €15,252 | +€2,685 | +21.4% |
| Current assets | 29/58 | €117,466 | €255,026 | +€137,560 | +117.1% |
| Amounts receivable within one year | 40/41 | €63,218 | €105,482 | +€42,263 | +66.9% |
| Trade receivables | 40 | €63,218 | €60,482 | -€2,737 | -4.3% |
| Other amounts receivable | 41 | - | €45,000 | +€45,000 | |
| Cash at bank and in hand | 54/58 | €51,584 | €146,605 | +€95,021 | +184.2% |
| Deferred charges and accrued income | 490/1 | €2,664 | €2,939 | +€276 | +10.4% |
| Total equity and liabilities | 10/49 | €130,034 | €270,279 | +€140,245 | +107.9% |
| Equity | 10/15 | €75,013 | €171,532 | +€96,518 | +128.7% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Capital | 10 | €4,000 | €4,000 | = | 0.0% |
| Issued capital | 100 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €71,013 | €167,532 | +€96,518 | +135.9% |
| Distributable reserves | 133 | €71,013 | €167,532 | +€96,518 | +135.9% |
| Amounts payable | 17/49 | €55,020 | €98,747 | +€43,727 | +79.5% |
| Amounts payable within one year | 42/48 | €55,020 | €98,747 | +€43,727 | +79.5% |
| Trade debts | 44 | €3,694 | €1,841 | -€1,853 | -50.2% |
| Suppliers | 440/4 | €3,694 | €1,841 | -€1,853 | -50.2% |
| Taxes, remuneration and social security | 45 | €51,203 | €94,508 | +€43,306 | +84.6% |
| Taxes | 450/3 | €51,203 | €94,508 | +€43,306 | +84.6% |
| Other amounts payable | 47/48 | €124 | €2,398 | +€2,274 | +1834.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €600 | €3,168 | +€2,568 | +427.9% |
| Other operating charges | 640/8 | €1,566 | €1,803 | +€237 | +15.1% |
| Non-recurring operating charges | 66A | €63 | €1,090 | +€1,027 | +1626.9% |
| Gross operating margin | 9900 | €107,724 | €143,303 | +€35,579 | +33.0% |
| Operating profit (loss) | 9901 | €105,495 | €137,243 | +€31,748 | +30.1% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €7 | €199 | +€192 | +2734.3% |
| Recurring financial charges | 65 | €7 | €199 | +€192 | +2734.3% |
| Profit (loss) for the period before taxes | 9903 | €105,488 | €137,044 | +€31,555 | +29.9% |
| Income taxes | 67/77 | €34,475 | €40,525 | +€6,051 | +17.6% |
| Profit (loss) for the period | 9904 | €71,013 | €96,518 | +€25,505 | +35.9% |
| Profit (loss) for the period to be appropriated | 9905 | €71,013 | €96,518 | +€25,505 | +35.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.