Mbrella: 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.
Mbrella
Largest movements
- Cash -€4.3m
down €4.3m (-100.0%), from €4.3m to €0
mainly Receivables within one year (-€3.0m) and Net result for the year (-€2.2m)
- Receivables within one year +€3.0m
up €3.0m (+524.8%), from €565,903 to €3.5m
of which Other amounts receivable: +€2.9m
- Intangible fixed assets -€206,163
down €206,163 (-11.0%), from €1.9m to €1.7m
- Profit (loss) carried forward -€2.2m
down €2.2m (-46.8%), from -€4.8m to -€7.0m
- Accrued charges and deferred income +€568,654
up €568,654 (+128.0%), from €444,378 to €1.0m
- Trade debts +€146,801
up €146,801 (+40.9%), from €358,931 to €505,732
- Gross operating margin +€997,815
up €997,815 (+22097.7%), from €4,515 to €1.0m
- Staff costs +€509,242
up €509,242 (+28.6%), from €1.8m to €2.3m
- Depreciation +€186,342
up €186,342 (+23.2%), from €803,702 to €990,044
- Financial income -€128,195
down €128,195 (-67.8%), from €189,180 to €60,985
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 | €6,823,300 | €5,317,844 | -€1.5m | -22.1% |
| Fixed assets | 21/28 | €1,909,633 | €1,709,700 | -€199,933 | -10.5% |
| Intangible fixed assets | 21 | €1,865,948 | €1,659,785 | -€206,163 | -11.0% |
| Tangible fixed assets | 22/27 | €25,686 | €31,916 | +€6,230 | +24.3% |
| Furniture and vehicles | 24 | €25,686 | €31,916 | +€6,230 | +24.3% |
| Financial fixed assets | 28 | €18,000 | €18,000 | = | 0.0% |
| Current assets | 29/58 | €4,913,666 | €3,608,143 | -€1.3m | -26.6% |
| Amounts receivable within one year | 40/41 | €565,903 | €3,535,871 | +€3.0m | +524.8% |
| Trade receivables | 40 | €565,364 | €616,262 | +€50,897 | +9.0% |
| Other amounts receivable | 41 | €539 | €2,919,609 | +€2.9m | +541923.4% |
| Cash at bank and in hand | 54/58 | €4,308,841 | €0 | -€4.3m | -100.0% |
| Deferred charges and accrued income | 490/1 | €38,922 | €72,273 | +€33,350 | +85.7% |
| Total equity and liabilities | 10/49 | €6,823,300 | €5,317,844 | -€1.5m | -22.1% |
| Equity | 10/15 | €5,807,261 | €3,566,486 | -€2.2m | -38.6% |
| Contributions | 10/11 | €10,594,418 | €10,594,418 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,787,157 | -€7,027,932 | -€2.2m | -46.8% |
| Amounts payable | 17/49 | €1,016,039 | €1,751,357 | +€735,318 | +72.4% |
| Amounts payable within one year | 42/48 | €571,661 | €738,325 | +€166,664 | +29.2% |
| Financial debts | 43 | €0 | - | = | |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €358,931 | €505,732 | +€146,801 | +40.9% |
| Suppliers | 440/4 | €358,931 | €505,732 | +€146,801 | +40.9% |
| Advances received on contracts in progress | 46 | €50,398 | €31,002 | -€19,396 | -38.5% |
| Taxes, remuneration and social security | 45 | €162,332 | €201,591 | +€39,259 | +24.2% |
| Taxes | 450/3 | €4,028 | €2,157 | -€1,871 | -46.4% |
| Remuneration and social security | 454/9 | €158,304 | €199,434 | +€41,129 | +26.0% |
| Accrued charges and deferred income | 492/3 | €444,378 | €1,013,032 | +€568,654 | +128.0% |
| Remuneration, social security and pensions | 62 | €1,781,428 | €2,290,670 | +€509,242 | +28.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €803,702 | €990,044 | +€186,342 | +23.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,765 | €0 | -€3,765 | -100.0% |
| Other operating charges | 640/8 | €3,527 | €2,601 | -€926 | -26.2% |
| Non-recurring operating charges | 66A | €1,944 | €0 | -€1,944 | -100.0% |
| Gross operating margin | 9900 | €4,515 | €1,002,330 | +€997,815 | +22097.7% |
| Operating profit (loss) | 9901 | -€2,589,850 | -€2,280,985 | +€308,865 | +11.9% |
| Financial income | 75/76B | €189,180 | €60,985 | -€128,195 | -67.8% |
| Recurring financial income | 75 | €189,180 | €60,985 | -€128,195 | -67.8% |
| Financial charges | 65/66B | €26,427 | €20,774 | -€5,653 | -21.4% |
| Recurring financial charges | 65 | €26,427 | €20,774 | -€5,653 | -21.4% |
| Profit (loss) for the period before taxes | 9903 | -€2,427,098 | -€2,240,774 | +€186,323 | +7.7% |
| Income taxes | 67/77 | €81 | €0 | -€81 | -100.0% |
| Profit (loss) for the period | 9904 | -€2,427,179 | -€2,240,774 | +€186,404 | +7.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,427,179 | -€2,240,774 | +€186,404 | +7.7% |
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 11 October 2026 via checked.be.