MBM CONNECT: 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 CONNECT
Largest movements
- Receivables within one year +€63,186
up €63,186 (+44.0%), from €143,709 to €206,895
of which Trade receivables: +€31,952
- Tangible fixed assets +€32,526
up €32,526 (+37.5%), from €86,765 to €119,292
of which Furniture and vehicles: +€40,978
- Cash +€6,700
up €6,700 (+22.7%), from €29,573 to €36,273
mainly Net result for the year (+€94,307) and Depreciation (+€38,412)
- Profit (loss) carried forward +€94,307
up €94,307 (+946.5%), from €9,964 to €104,271
- Debts after one year -€49,608
down €49,608 (-47.9%), from €103,530 to €53,921
- Tax, wage and social debts +€28,822
up €28,822 (+84.9%), from €33,938 to €62,760
of which Remuneration and social security: +€17,653
- Trade debts +€21,346
up €21,346 (+378.9%), from €5,633 to €26,979
- Current portion of long-term debt +€6,330
up €6,330 (+33.7%), from €18,785 to €25,115
- Turnover +€151,909
up €151,909 (+27.8%), from €546,273 to €698,182
- Gross operating margin +€127,016
up €127,016 (+72.2%), from €176,004 to €303,020
- Purchases and services +€33,174
up €33,174 (+8.7%), from €381,312 to €414,486
- Staff costs +€20,206
up €20,206 (+18.7%), from €107,971 to €128,177
- Taxes +€19,878
up €19,878 (+217.9%), from €9,122 to €29,000
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 | €263,347 | €364,840 | +€101,492 | +38.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €89,145 | €121,672 | +€32,526 | +36.5% |
| Tangible fixed assets | 22/27 | €86,765 | €119,292 | +€32,526 | +37.5% |
| Plant, machinery and equipment | 23 | €7,554 | €10,310 | +€2,756 | +36.5% |
| Furniture and vehicles | 24 | €68,004 | €108,982 | +€40,978 | +60.3% |
| Leasing and similar rights | 25 | €11,207 | - | -€11,207 | |
| Financial fixed assets | 28 | €2,380 | €2,380 | = | 0.0% |
| Current assets | 29/58 | €174,202 | €243,168 | +€68,966 | +39.6% |
| Amounts receivable within one year | 40/41 | €143,709 | €206,895 | +€63,186 | +44.0% |
| Trade receivables | 40 | €71,096 | €103,048 | +€31,952 | +44.9% |
| Other amounts receivable | 41 | €72,613 | €103,847 | +€31,234 | +43.0% |
| Cash at bank and in hand | 54/58 | €29,573 | €36,273 | +€6,700 | +22.7% |
| Deferred charges and accrued income | 490/1 | €920 | €0 | -€920 | -100.0% |
| Total equity and liabilities | 10/49 | €263,347 | €364,840 | +€101,492 | +38.5% |
| Equity | 10/15 | €100,213 | €194,520 | +€94,307 | +94.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €84,049 | €84,049 | = | 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% |
| Tax-exempt reserves | 132 | €12,630 | €12,630 | = | 0.0% |
| Distributable reserves | 133 | €69,559 | €69,559 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,964 | €104,271 | +€94,307 | +946.5% |
| Amounts payable | 17/49 | €163,135 | €170,320 | +€7,185 | +4.4% |
| Amounts payable after more than one year | 17 | €103,530 | €53,921 | -€49,608 | -47.9% |
| Financial debts | 170/4 | €103,530 | €53,921 | -€49,608 | -47.9% |
| Amounts payable within one year | 42/48 | €58,356 | €114,950 | +€56,595 | +97.0% |
| Current portion of amounts payable after more than one year | 42 | €18,785 | €25,115 | +€6,330 | +33.7% |
| Financial debts | 43 | €0 | €0 | = | |
| Credit institutions | 430/8 | €0 | €0 | = | |
| Trade debts | 44 | €5,633 | €26,979 | +€21,346 | +378.9% |
| Suppliers | 440/4 | €5,633 | €26,979 | +€21,346 | +378.9% |
| Taxes, remuneration and social security | 45 | €33,938 | €62,760 | +€28,822 | +84.9% |
| Taxes | 450/3 | €25,208 | €36,378 | +€11,170 | +44.3% |
| Remuneration and social security | 454/9 | €8,730 | €26,382 | +€17,653 | +202.2% |
| Other amounts payable | 47/48 | - | €96 | +€96 | |
| Accrued charges and deferred income | 492/3 | €1,249 | €1,448 | +€199 | +15.9% |
| Turnover | 70 | €546,273 | €698,182 | +€151,909 | +27.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €381,312 | €414,486 | +€33,174 | +8.7% |
| Remuneration, social security and pensions | 62 | €107,971 | €128,177 | +€20,206 | +18.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,072 | €38,412 | +€9,340 | +32.1% |
| Other operating charges | 640/8 | €2,520 | €1,508 | -€1,012 | -40.2% |
| Non-recurring operating charges | 66A | - | €4,423 | +€4,423 | |
| Gross operating margin | 9900 | €176,004 | €303,020 | +€127,016 | +72.2% |
| Operating profit (loss) | 9901 | €36,441 | €130,499 | +€94,058 | +258.1% |
| Financial income | 75/76B | €6 | €11,023 | +€11,018 | +198516.0% |
| Recurring financial income | 75 | €6 | €11,023 | +€11,018 | +198516.0% |
| Financial charges | 65/66B | €5,041 | €18,215 | +€13,174 | +261.3% |
| Recurring financial charges | 65 | €5,041 | €18,215 | +€13,174 | +261.3% |
| Profit (loss) for the period before taxes | 9903 | €31,405 | €123,307 | +€91,902 | +292.6% |
| Income taxes | 67/77 | €9,122 | €29,000 | +€19,878 | +217.9% |
| Profit (loss) for the period | 9904 | €22,284 | €94,307 | +€72,023 | +323.2% |
| Profit (loss) for the period to be appropriated | 9905 | €22,284 | €94,307 | +€72,023 | +323.2% |
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 11 October 2026 via checked.be.