MBO MANAGEMENT: 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.
MBO MANAGEMENT
Largest movements
- Receivables within one year +€1.1m
up €1.1m (+5,658%), from €19,963 to €1.1m
of which Other amounts receivable: +€1.1m
- Current investments +€320,000
new in 2025: €320,000
- Financial fixed assets +€135,000
up €135,000 (+22,500%), from €600 to €135,600
- Tangible fixed assets -€16,846
down €16,846 (-33.0%), from €50,981 to €34,134
of which Furniture and vehicles: -€16,582
- Contributions +€1.5m
up €1.5m (+7,965%), from €18,600 to €1.5m
- Other debts +€164,975
up €164,975 (+281%), from €58,788 to €223,763
- Profit (loss) carried forward -€81,745
down €81,745 (-438%), from -€18,673 to -€100,418
- Gross operating margin +€34,838
up €34,838 (+38.9%), from -€89,564 to -€54,726
- Other operating charges -€8,973
no longer reported in 2025 (was €8,973)
- Financial charges +€5,971
up €5,971 (+186%), from €3,202 to €9,173
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 | €94,254 | €1,654,137 | +€1.6m | +1,655% |
| Fixed assets | 21/28 | €51,581 | €169,734 | +€118,154 | +229% |
| Tangible fixed assets | 22/27 | €50,981 | €34,134 | -€16,846 | -33.0% |
| Land and buildings | 22 | €8,852 | €8,587 | -€265 | -3.0% |
| Furniture and vehicles | 24 | €42,129 | €25,547 | -€16,582 | -39.4% |
| Financial fixed assets | 28 | €600 | €135,600 | +€135,000 | +22,500% |
| Current assets | 29/58 | €42,674 | €1,484,403 | +€1.4m | +3,379% |
| Amounts receivable within one year | 40/41 | €19,963 | €1,149,368 | +€1.1m | +5,658% |
| Trade receivables | 40 | €2,757 | - | -€2,757 | |
| Other amounts receivable | 41 | €17,205 | €1,149,368 | +€1.1m | +6,580% |
| Current investments | 50/53 | - | €320,000 | +€320,000 | |
| Cash at bank and in hand | 54/58 | €15,345 | €14,993 | -€352 | -2.3% |
| Deferred charges and accrued income | 490/1 | €7,366 | €42 | -€7,324 | -99.4% |
| Total equity and liabilities | 10/49 | €94,254 | €1,654,137 | +€1.6m | +1,655% |
| Equity | 10/15 | -€73 | €1,399,582 | +€1.4m | |
| Contributions | 10/11 | €18,600 | €1,500,000 | +€1.5m | +7,965% |
| Profit (loss) carried forward | 14 | -€18,673 | -€100,418 | -€81,745 | -438% |
| Amounts payable | 17/49 | €94,327 | €254,555 | +€160,228 | +170% |
| Amounts payable after more than one year | 17 | €17,851 | €6,019 | -€11,831 | -66.3% |
| Financial debts | 170/4 | €17,851 | €6,019 | -€11,831 | -66.3% |
| Amounts payable within one year | 42/48 | €74,427 | €240,050 | +€165,623 | +223% |
| Current portion of amounts payable after more than one year | 42 | €11,560 | €11,831 | +€271 | +2.3% |
| Trade debts | 44 | €3,892 | €4,285 | +€393 | +10.1% |
| Suppliers | 440/4 | €3,892 | €4,285 | +€393 | +10.1% |
| Taxes, remuneration and social security | 45 | €187 | €171 | -€16 | -8.6% |
| Taxes | 450/3 | €187 | €171 | -€16 | -8.6% |
| Other amounts payable | 47/48 | €58,788 | €223,763 | +€164,975 | +281% |
| Accrued charges and deferred income | 492/3 | €2,049 | €8,485 | +€6,436 | +314% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,406 | €17,676 | +€270 | +1.5% |
| Other operating charges | 640/8 | €8,973 | - | -€8,973 | |
| Gross operating margin | 9900 | -€89,564 | -€54,726 | +€34,838 | +38.9% |
| Operating profit (loss) | 9901 | -€115,943 | -€72,402 | +€43,541 | +37.6% |
| Financial income | 75/76B | €1 | €1 | -€0 | -31.8% |
| Recurring financial income | 75 | €1 | €1 | -€0 | -31.8% |
| Financial charges | 65/66B | €3,202 | €9,173 | +€5,971 | +186% |
| Recurring financial charges | 65 | €3,202 | €9,173 | +€5,971 | +186% |
| Profit (loss) for the period before taxes | 9903 | -€119,144 | -€81,574 | +€37,570 | +31.5% |
| Income taxes | 67/77 | €187 | €171 | -€16 | -8.6% |
| Profit (loss) for the period | 9904 | -€119,331 | -€81,745 | +€37,586 | +31.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€119,331 | -€81,745 | +€37,586 | +31.5% |
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 24 October 2026 via checked.be.