MBM Construct: 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.
MBM Construct
Largest movements
- Cash +€21,149
up €21,149 (+85.2%), from €24,828 to €45,976
mainly Net result for the year (+€25,273) and Tax, wage and social debts (+€10,735)
- Tangible fixed assets +€12,621
up €12,621 (+39.7%), from €31,774 to €44,394
- Receivables within one year +€2,807
up €2,807 (+29.9%), from €9,402 to €12,210
of which Trade receivables: +€2,776
- Reserves +€25,273
up €25,273 (+59.4%), from €42,528 to €67,801
of which Distributable reserves: +€25,273
- Tax, wage and social debts +€10,735
up €10,735 (+266.1%), from €4,034 to €14,769
- Gross operating margin +€27,500
up €27,500 (+154.1%), from €17,846 to €45,346
- Taxes +€9,003
up €9,003 (+308.7%), from €2,916 to €11,919
- Depreciation +€4,117
up €4,117 (+126.2%), from €3,262 to €7,379
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 | €66,004 | €102,581 | +€36,577 | +55.4% |
| Fixed assets | 21/28 | €31,774 | €44,394 | +€12,621 | +39.7% |
| Tangible fixed assets | 22/27 | €31,774 | €44,394 | +€12,621 | +39.7% |
| Plant, machinery and equipment | 23 | €31,774 | €44,394 | +€12,621 | +39.7% |
| Current assets | 29/58 | €34,230 | €58,186 | +€23,956 | +70.0% |
| Amounts receivable within one year | 40/41 | €9,402 | €12,210 | +€2,807 | +29.9% |
| Trade receivables | 40 | €8,840 | €11,616 | +€2,776 | +31.4% |
| Other amounts receivable | 41 | €562 | €594 | +€31 | +5.6% |
| Cash at bank and in hand | 54/58 | €24,828 | €45,976 | +€21,149 | +85.2% |
| Total equity and liabilities | 10/49 | €66,004 | €102,581 | +€36,577 | +55.4% |
| Equity | 10/15 | €61,128 | €86,401 | +€25,273 | +41.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €42,528 | €67,801 | +€25,273 | +59.4% |
| 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 | €40,668 | €65,941 | +€25,273 | +62.1% |
| Amounts payable | 17/49 | €4,876 | €16,180 | +€11,304 | +231.8% |
| Amounts payable within one year | 42/48 | €4,876 | €16,180 | +€11,304 | +231.8% |
| Trade debts | 44 | €842 | €1,411 | +€569 | +67.6% |
| Suppliers | 440/4 | €842 | €1,411 | +€569 | +67.6% |
| Taxes, remuneration and social security | 45 | €4,034 | €14,769 | +€10,735 | +266.1% |
| Taxes | 450/3 | €4,034 | €14,769 | +€10,735 | +266.1% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,262 | €7,379 | +€4,117 | +126.2% |
| Other operating charges | 640/8 | €939 | €660 | -€279 | -29.7% |
| Gross operating margin | 9900 | €17,846 | €45,346 | +€27,500 | +154.1% |
| Operating profit (loss) | 9901 | €13,644 | €37,307 | +€23,662 | +173.4% |
| Financial income | 75/76B | €33 | €31 | -€2 | -5.3% |
| Recurring financial income | 75 | €33 | €31 | -€2 | -5.3% |
| Financial charges | 65/66B | €144 | €146 | +€2 | +1.1% |
| Recurring financial charges | 65 | €144 | €146 | +€2 | +1.1% |
| Profit (loss) for the period before taxes | 9903 | €13,533 | €37,192 | +€23,659 | +174.8% |
| Income taxes | 67/77 | €2,916 | €11,919 | +€9,003 | +308.7% |
| Profit (loss) for the period | 9904 | €10,617 | €25,273 | +€14,656 | +138.0% |
| Profit (loss) for the period to be appropriated | 9905 | €10,617 | €25,273 | +€14,656 | +138.0% |
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 9 October 2026 via checked.be.