MBMa: 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.
MBMa
Largest movements
- Cash +€67,894
up €67,894 (+47.9%), from €141,684 to €209,578
mainly Other debts (+€151,031) and Net result for the year (+€56,906)
- Receivables within one year -€16,555
down €16,555 (-76.6%), from €21,611 to €5,057
of which Trade receivables: -€15,643
- Tangible fixed assets -€11,303
down €11,303 (-41.7%), from €27,108 to €15,805
of which Furniture and vehicles: -€10,313
- Other debts +€151,031
up €151,031 (+24475.8%), from €617 to €151,648
- Reserves -€115,340
down €115,340 (-72.9%), from €158,277 to €42,937
- Tax, wage and social debts +€3,134
up €3,134 (+11.3%), from €27,814 to €30,949
- Gross operating margin +€1,770
up €1,770 (+2.1%), from €82,814 to €84,583
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 | €192,096 | €231,819 | +€39,723 | +20.7% |
| Fixed assets | 21/28 | €27,360 | €15,805 | -€11,555 | -42.2% |
| Tangible fixed assets | 22/27 | €27,108 | €15,805 | -€11,303 | -41.7% |
| Plant, machinery and equipment | 23 | €2,734 | €1,744 | -€990 | -36.2% |
| Furniture and vehicles | 24 | €24,374 | €14,061 | -€10,313 | -42.3% |
| Financial fixed assets | 28 | €252 | - | -€252 | |
| Current assets | 29/58 | €164,735 | €216,014 | +€51,279 | +31.1% |
| Amounts receivable within one year | 40/41 | €21,611 | €5,057 | -€16,555 | -76.6% |
| Trade receivables | 40 | €15,643 | - | -€15,643 | |
| Other amounts receivable | 41 | €5,968 | €5,057 | -€911 | -15.3% |
| Cash at bank and in hand | 54/58 | €141,684 | €209,578 | +€67,894 | +47.9% |
| Deferred charges and accrued income | 490/1 | €1,441 | €1,380 | -€61 | -4.2% |
| Total equity and liabilities | 10/49 | €192,096 | €231,819 | +€39,723 | +20.7% |
| Equity | 10/15 | €163,277 | €47,937 | -€115,340 | -70.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €158,277 | €42,937 | -€115,340 | -72.9% |
| Distributable reserves | 133 | €158,277 | €42,937 | -€115,340 | -72.9% |
| Amounts payable | 17/49 | €28,819 | €183,882 | +€155,064 | +538.1% |
| Amounts payable within one year | 42/48 | €28,819 | €183,882 | +€155,064 | +538.1% |
| Trade debts | 44 | €387 | €1,286 | +€899 | +232.0% |
| Suppliers | 440/4 | €387 | €1,286 | +€899 | +232.0% |
| Taxes, remuneration and social security | 45 | €27,814 | €30,949 | +€3,134 | +11.3% |
| Taxes | 450/3 | €27,814 | €30,949 | +€3,134 | +11.3% |
| Other amounts payable | 47/48 | €617 | €151,648 | +€151,031 | +24475.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,130 | €11,303 | +€174 | +1.6% |
| Other operating charges | 640/8 | €741 | €902 | +€161 | +21.7% |
| Non-recurring operating charges | 66A | €609 | €459 | -€150 | -24.6% |
| Gross operating margin | 9900 | €82,814 | €84,583 | +€1,770 | +2.1% |
| Operating profit (loss) | 9901 | €70,334 | €71,919 | +€1,585 | +2.3% |
| Financial charges | 65/66B | €58 | €65 | +€6 | +11.1% |
| Recurring financial charges | 65 | €58 | €65 | +€6 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | €70,276 | €71,854 | +€1,578 | +2.2% |
| Income taxes | 67/77 | €15,058 | €14,948 | -€110 | -0.7% |
| Profit (loss) for the period | 9904 | €55,218 | €56,906 | +€1,688 | +3.1% |
| Profit (loss) for the period to be appropriated | 9905 | €55,218 | €56,906 | +€1,688 | +3.1% |
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.