MBM TRADE: 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 TRADE
Largest movements
- Receivables within one year +€98,143
up €98,143 (+210%), from €46,701 to €144,844
of which Trade receivables: +€99,909
- Stocks and contracts +€59,981
up €59,981 (+11.2%), from €535,794 to €595,775
- Cash -€37,759
down €37,759 (-52.4%), from €72,127 to €34,368
mainly Receivables within one year (-€98,143) and Trade debts (-€71,313)
- Tangible fixed assets -€36,955
down €36,955 (-4.2%), from €872,136 to €835,181
of which Land and buildings: -€33,817
- Short-term financial debts +€75,000
up €75,000 (+100%), from €75,000 to €150,000
- Trade debts -€71,313
down €71,313 (-40.6%), from €175,682 to €104,369
- Profit (loss) carried forward +€68,875
up €68,875 (+121%), from €56,834 to €125,708
- Debts after one year -€48,670
down €48,670 (-5.1%), from €953,465 to €904,795
- Tax, wage and social debts +€29,216
up €29,216 (+103%), from €28,354 to €57,570
of which Taxes: +€29,806
- Depreciation -€24,072
down €24,072 (-38.8%), from €62,044 to €37,972
- Gross operating margin -€18,745
down €18,745 (-10.0%), from €186,996 to €168,251
- Financial charges -€7,790
down €7,790 (-15.5%), from €50,127 to €42,338
- Taxes +€2,966
up €2,966 (+19.6%), from €15,111 to €18,077
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.
Derived cash bridge
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 | €1,535,971 | €1,614,332 | +€78,362 | +5.1% |
| Fixed assets | 21/28 | €872,136 | €835,181 | -€36,955 | -4.2% |
| Tangible fixed assets | 22/27 | €872,136 | €835,181 | -€36,955 | -4.2% |
| Land and buildings | 22 | €866,393 | €832,577 | -€33,817 | -3.9% |
| Plant, machinery and equipment | 23 | €5,743 | €2,604 | -€3,139 | -54.7% |
| Current assets | 29/58 | €663,834 | €779,151 | +€115,317 | +17.4% |
| Stocks and contracts in progress | 3 | €535,794 | €595,775 | +€59,981 | +11.2% |
| Stocks | 30/36 | €535,794 | €595,775 | +€59,981 | +11.2% |
| Amounts receivable within one year | 40/41 | €46,701 | €144,844 | +€98,143 | +210% |
| Trade receivables | 40 | €44,935 | €144,844 | +€99,909 | +222% |
| Other amounts receivable | 41 | €1,765 | - | -€1,765 | |
| Cash at bank and in hand | 54/58 | €72,127 | €34,368 | -€37,759 | -52.4% |
| Deferred charges and accrued income | 490/1 | €9,213 | €4,163 | -€5,049 | -54.8% |
| Total equity and liabilities | 10/49 | €1,535,971 | €1,614,332 | +€78,362 | +5.1% |
| Equity | 10/15 | €206,834 | €275,708 | +€68,875 | +33.3% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €56,834 | €125,708 | +€68,875 | +121% |
| Amounts payable | 17/49 | €1,329,137 | €1,338,624 | +€9,487 | +0.7% |
| Amounts payable after more than one year | 17 | €953,465 | €904,795 | -€48,670 | -5.1% |
| Financial debts | 170/4 | €953,465 | €904,795 | -€48,670 | -5.1% |
| Amounts payable within one year | 42/48 | €375,672 | €433,829 | +€58,157 | +15.5% |
| Current portion of amounts payable after more than one year | 42 | €72,136 | €92,101 | +€19,965 | +27.7% |
| Financial debts | 43 | €75,000 | €150,000 | +€75,000 | +100% |
| Credit institutions | 430/8 | €75,000 | €150,000 | +€75,000 | +100% |
| Trade debts | 44 | €175,682 | €104,369 | -€71,313 | -40.6% |
| Suppliers | 440/4 | €175,682 | €104,369 | -€71,313 | -40.6% |
| Advances received on contracts in progress | 46 | €500 | €750 | +€250 | +50.0% |
| Taxes, remuneration and social security | 45 | €28,354 | €57,570 | +€29,216 | +103% |
| Taxes | 450/3 | €21,465 | €51,271 | +€29,806 | +139% |
| Remuneration and social security | 454/9 | €6,889 | €6,299 | -€590 | -8.6% |
| Other amounts payable | 47/48 | €24,000 | €29,040 | +€5,040 | +21.0% |
| Non-recurring operating income | 76A | - | €3,891 | +€3,891 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,044 | €37,972 | -€24,072 | -38.8% |
| Other operating charges | 640/8 | €2,881 | €2,229 | -€652 | -22.6% |
| Gross operating margin | 9900 | €186,996 | €168,251 | -€18,745 | -10.0% |
| Operating profit (loss) | 9901 | €122,071 | €128,050 | +€5,979 | +4.9% |
| Financial income | 75/76B | €1 | €1,239 | +€1,237 | +97,420% |
| Recurring financial income | 75 | €1 | €1,239 | +€1,237 | +97,420% |
| Financial charges | 65/66B | €50,127 | €42,338 | -€7,790 | -15.5% |
| Recurring financial charges | 65 | €50,127 | €42,338 | -€7,790 | -15.5% |
| Profit (loss) for the period before taxes | 9903 | €71,945 | €86,951 | +€15,006 | +20.9% |
| Income taxes | 67/77 | €15,111 | €18,077 | +€2,966 | +19.6% |
| Profit (loss) for the period | 9904 | €56,834 | €68,875 | +€12,041 | +21.2% |
| Profit (loss) for the period to be appropriated | 9905 | €56,834 | €68,875 | +€12,041 | +21.2% |
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 20 October 2026 via checked.be.