MBMC: 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.
What changed
MBMC
NACE 64.210, Activities of holding companies
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€652,100
2024 · €1.2m-€588,716
Equity
€50.6m
2024 · €50.3m+€337,100
Cash
€1,380
2024 · €39+€1,341
Balance sheet total
€81.1m
2024 · €70.6m+€10.5m
Largest movements
Assets
- Financial fixed assets +€10.5m
up €10.5m (+15.0%), from €70.3m to €80.8m
of which Affiliated companies: +€10.5m
Equity and liabilities
- Other debts +€10.5m
up €10.5m (+55.9%), from €18.7m to €29.2m
Income statement
- Turnover -€431,005
down €431,005 (-30.6%), from €1.4m to €978,434
- Services and other goods +€249,856
up €249,856 (+24.5%), from €1.0m to €1.3m
- Other operating income +€158,947
up €158,947 (+5.8%), from €2.7m to €2.9m
- Financial charges +€78,708
up €78,708 (+12.7%), from €618,762 to €697,470
of which Financial charges: +€75,262
- Staff costs -€53,853
down €53,853 (-4.8%), from €1.1m to €1.1m
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.
Result 2024
€1.2m
Turnover
-€431,005
Other operating income
+€158,947
Goods and materials
-€15,616
Services and other goods
-€249,856
Staff costs
+€53,853
Depreciation
-€9,563
Other operating charges
-€514
Financial income
-€23,935
Financial charges
-€78,708
Taxes
+€7,681
Result 2025
€652,100
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.
From operations
+€10.9m
Investment
-€10.6m
Financing
-€315,000
Cash 2024
€39
From operations (derived)
+€10.9m
Net result for the year
+€652,100
Depreciation
+€22,405
Smaller working-capital items
+€20,235
Trade debts
-€46,650
Tax, wage and social debts
-€86,701
Other debts
+€10.5m
Accrued charges and deferred income
-€127,357
Investment (derived)
-€10.6m
Investment in fixed assets (net)
-€10.6m
Financing
-€315,000
Contributions, distributions and other
-€315,000
Cash 2025
€1,380
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €70,585,992 | €81,134,069 | +€10.5m | +14.9% |
| Fixed assets | 21/28 | €70,326,724 | €80,893,695 | +€10.6m | +15.0% |
| Tangible fixed assets | 22/27 | €45,558 | €80,395 | +€34,837 | +76.5% |
| Land and buildings | 22 | - | €2,280 | +€2,280 | |
| Plant, machinery and equipment | 23 | - | €2,566 | +€2,566 | |
| Furniture and vehicles | 24 | €45,558 | €75,550 | +€29,991 | +65.8% |
| Financial fixed assets | 28 | €70,281,166 | €80,813,299 | +€10.5m | +15.0% |
| Affiliated companies | 280/1 | €70,281,086 | €80,813,220 | +€10.5m | +15.0% |
| Participating interests | 280 | €70,281,086 | €80,813,220 | +€10.5m | +15.0% |
| Other financial fixed assets | 284/8 | €80 | €80 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €80 | €80 | = | 0.0% |
| Current assets | 29/58 | €259,268 | €240,374 | -€18,894 | -7.3% |
| Amounts receivable within one year | 40/41 | €249,701 | €223,788 | -€25,913 | -10.4% |
| Trade receivables | 40 | €234,066 | €216,132 | -€17,935 | -7.7% |
| Other amounts receivable | 41 | €15,635 | €7,656 | -€7,979 | -51.0% |
| Cash at bank and in hand | 54/58 | €39 | €1,380 | +€1,341 | +3417.6% |
| Deferred charges and accrued income | 490/1 | €9,528 | €15,206 | +€5,678 | +59.6% |
| Total equity and liabilities | 10/49 | €70,585,992 | €81,134,069 | +€10.5m | +14.9% |
| Equity | 10/15 | €50,263,137 | €50,600,237 | +€337,100 | +0.7% |
| Contributions | 10/11 | €11,400,000 | €11,400,000 | = | 0.0% |
| Capital | 10 | €11,400,000 | €11,400,000 | = | 0.0% |
| Issued capital | 100 | €11,400,000 | €11,400,000 | = | 0.0% |
| Reserves | 13 | €1,140,000 | €1,308,400 | +€168,400 | +14.8% |
| Non-distributable reserves | 130/1 | €1,140,000 | €1,140,000 | = | 0.0% |
| Legal reserve | 130 | €1,140,000 | €1,140,000 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €168,400 | +€168,400 | |
| Profit (loss) carried forward | 14 | €37,723,137 | €37,891,837 | +€168,700 | +0.4% |
| Amounts payable | 17/49 | €20,322,855 | €30,533,831 | +€10.2m | +50.2% |
| Amounts payable within one year | 42/48 | €20,129,464 | €30,467,797 | +€10.3m | +51.4% |
| Trade debts | 44 | €1,119,194 | €1,072,544 | -€46,650 | -4.2% |
| Suppliers | 440/4 | €1,119,194 | €1,072,544 | -€46,650 | -4.2% |
| Taxes, remuneration and social security | 45 | €278,938 | €192,237 | -€86,701 | -31.1% |
| Taxes | 450/3 | €167,275 | €86,435 | -€80,840 | -48.3% |
| Remuneration and social security | 454/9 | €111,663 | €105,802 | -€5,861 | -5.2% |
| Other amounts payable | 47/48 | €18,731,332 | €29,203,015 | +€10.5m | +55.9% |
| Accrued charges and deferred income | 492/3 | €193,391 | €66,035 | -€127,357 | -65.9% |
| Operating income | 70/76A | €4,136,268 | €3,864,210 | -€272,058 | -6.6% |
| Turnover | 70 | €1,409,439 | €978,434 | -€431,005 | -30.6% |
| Other operating income | 74 | €2,726,829 | €2,885,776 | +€158,947 | +5.8% |
| Operating charges | 60/66A | €2,168,450 | €2,390,145 | +€221,695 | +10.2% |
| Goods for resale, raw materials and consumables | 60 | - | €15,616 | +€15,616 | |
| Purchases | 600/8 | - | €15,616 | +€15,616 | |
| Services and other goods | 61 | €1,020,618 | €1,270,474 | +€249,856 | +24.5% |
| Remuneration, social security and pensions | 62 | €1,133,335 | €1,079,482 | -€53,853 | -4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,842 | €22,405 | +€9,563 | +74.5% |
| Other operating charges | 640/8 | €1,654 | €2,168 | +€514 | +31.1% |
| Operating profit (loss) | 9901 | €1,967,818 | €1,474,065 | -€493,753 | -25.1% |
| Financial income | 75/76B | €26,419 | €2,484 | -€23,935 | -90.6% |
| Recurring financial income | 75 | €26,419 | €2,484 | -€23,935 | -90.6% |
| Income from current assets | 751 | €26,399 | €2,484 | -€23,915 | -90.6% |
| Other financial income | 752/9 | €20 | €0 | -€20 | -99.4% |
| Financial charges | 65/66B | €618,762 | €697,470 | +€78,708 | +12.7% |
| Recurring financial charges | 65 | €618,762 | €694,024 | +€75,262 | +12.2% |
| Debt charges | 650 | €616,094 | €692,798 | +€76,704 | +12.5% |
| Other financial charges | 652/9 | €2,668 | €1,225 | -€1,442 | -54.1% |
| Non-recurring financial charges | 66B | - | €3,447 | +€3,447 | |
| Profit (loss) for the period before taxes | 9903 | €1,375,475 | €779,078 | -€596,397 | -43.4% |
| Income taxes | 67/77 | €134,659 | €126,978 | -€7,681 | -5.7% |
| Taxes | 670/3 | €134,659 | €126,978 | -€7,681 | -5.7% |
| Profit (loss) for the period | 9904 | €1,240,816 | €652,100 | -€588,716 | -47.4% |
| Transfer to tax-exempt reserves | 689 | - | €168,400 | +€168,400 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,240,816 | €483,700 | -€757,116 | -61.0% |
Source: filed annual accounts (NBB), financial years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.