MBS: 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.
What changed
MBS
NACE 28.150, Manufacture of machinery and equipment not elsewhere classified
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€1.2m
2024 · -€856,070-€380,123
Equity
-€2.0m
2024 · -€775,178-€1.2m
Cash
€378,758
2024 · €416,702-€37,943
Balance sheet total
€5.3m
2024 · €5.8m-€520,358
Largest movements
Assets
- Stocks and contracts -€481,211
down €481,211 (-20.0%), from €2.4m to €1.9m
- Deferred charges and accrued income +€66,071
up €66,071 (+318.0%), from €20,778 to €86,850
Equity and liabilities
- Debts after one year +€1.5m
up €1.5m (+37.1%), from €4.0m to €5.5m
- Current portion of long-term debt -€1.3m
down €1.3m (-98.8%), from €1.3m to €15,427
- Profit (loss) carried forward -€1.2m
down €1.2m (-38.2%), from -€3.2m to -€4.5m
- Trade debts +€261,579
up €261,579 (+52.3%), from €499,927 to €761,507
- Tax, wage and social debts +€244,443
up €244,443 (+40.9%), from €597,022 to €841,464
of which Taxes: +€180,630
Income statement
- Turnover -€1.1m
down €1.1m (-10.6%), from €10.6m to €9.5m
- Write-downs -€300,000
down €300,000, from €230,000 to -€70,000
- Staff costs -€281,059
down €281,059 (-6.1%), from €4.6m to €4.4m
- Services and other goods -€225,305
down €225,305 (-4.0%), from €5.6m to €5.4m
- Goods and materials +€142,814
up €142,814 (+25.6%), from €558,251 to €701,065
of which Change in stocks: decrease (increase): +€3.4m
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
-€856,070
Turnover
-€1.1m
Other operating income
+€11,599
Goods and materials
-€142,814
Services and other goods
+€225,305
Staff costs
+€281,059
Depreciation
+€4,876
Write-downs
+€300,000
Provisions
-€9,264
Other operating charges
+€38,229
Other operating items
-€35,089
Financial income
-€7,416
Financial charges
+€86,925
Taxes
-€14,012
Result 2025
-€1.2m
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
-€68,062
Investment
-€138,873
Financing
+€168,992
Cash 2024
€416,702
From operations (derived)
-€68,062
Net result for the year
-€1.2m
Depreciation
+€196,169
Stocks and contracts
+€481,211
Receivables within one year
+€9,979
Deferred charges and accrued income
-€66,071
Provisions
+€15,675
Trade debts
+€261,579
Tax, wage and social debts
+€244,443
Accrued charges and deferred income
+€25,147
Investment (derived)
-€138,873
Investment in fixed assets (net)
-€138,873
Financing
+€168,992
Debts after one year
+€1.5m
Current portion of long-term debt
-€1.3m
Cash 2025
€378,758
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,829,972 | €5,309,615 | -€520,358 | -8.9% |
| Fixed assets | 21/28 | €940,640 | €883,344 | -€57,296 | -6.1% |
| Intangible fixed assets | 21 | €49,935 | €63,467 | +€13,532 | +27.1% |
| Tangible fixed assets | 22/27 | €836,028 | €782,283 | -€53,745 | -6.4% |
| Land and buildings | 22 | €155,303 | €119,167 | -€36,136 | -23.3% |
| Plant, machinery and equipment | 23 | €464,469 | €488,917 | +€24,447 | +5.3% |
| Furniture and vehicles | 24 | €162,033 | €120,501 | -€41,532 | -25.6% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €54,223 | €53,698 | -€525 | -1.0% |
| Financial fixed assets | 28 | €54,676 | €37,594 | -€17,082 | -31.2% |
| Other financial fixed assets | 284/8 | €54,676 | €37,594 | -€17,082 | -31.2% |
| Amounts receivable and cash guarantees | 285/8 | €54,676 | €37,594 | -€17,082 | -31.2% |
| Current assets | 29/58 | €4,889,333 | €4,426,270 | -€463,062 | -9.5% |
| Stocks and contracts in progress | 3 | €2,402,436 | €1,921,225 | -€481,211 | -20.0% |
| Stocks | 30/36 | €2,402,436 | €1,921,225 | -€481,211 | -20.0% |
| Goods purchased for resale | 34 | €2,402,436 | €1,921,225 | -€481,211 | -20.0% |
| Amounts receivable within one year | 40/41 | €2,049,417 | €2,039,438 | -€9,979 | -0.5% |
| Trade receivables | 40 | €2,048,332 | €2,038,131 | -€10,201 | -0.5% |
| Other amounts receivable | 41 | €1,085 | €1,306 | +€221 | +20.4% |
| Cash at bank and in hand | 54/58 | €416,702 | €378,758 | -€37,943 | -9.1% |
| Deferred charges and accrued income | 490/1 | €20,778 | €86,850 | +€66,071 | +318.0% |
| Total equity and liabilities | 10/49 | €5,829,972 | €5,309,615 | -€520,358 | -8.9% |
| Equity | 10/15 | -€775,178 | -€2,011,371 | -€1.2m | -159.5% |
| Contributions | 10/11 | €1,900,000 | €1,923,498 | +€23,498 | +1.2% |
| Capital | 10 | €1,900,000 | - | -€1.9m | |
| Issued capital | 100 | €1,900,000 | - | -€1.9m | |
| Reserves | 13 | €561,895 | €538,396 | -€23,498 | -4.2% |
| Non-distributable reserves | 130/1 | €57,459 | €33,961 | -€23,498 | -40.9% |
| Legal reserve | 130 | €23,498 | - | -€23,498 | |
| Reserves not available under the articles | 1311 | €33,961 | €33,961 | = | 0.0% |
| Tax-exempt reserves | 132 | €256 | €256 | = | 0.0% |
| Distributable reserves | 133 | €504,180 | €504,180 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,237,073 | -€4,473,265 | -€1.2m | -38.2% |
| Provisions and deferred taxes | 16 | €0 | €15,675 | +€15,675 | |
| Provisions for liabilities and charges | 160/5 | €0 | €15,675 | +€15,675 | |
| Major repairs and maintenance | 162 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €0 | €15,675 | +€15,675 | |
| Amounts payable | 17/49 | €6,605,150 | €7,305,311 | +€700,160 | +10.6% |
| Amounts payable after more than one year | 17 | €3,984,918 | €5,461,766 | +€1.5m | +37.1% |
| Financial debts | 170/4 | €3,984,918 | €5,461,766 | +€1.5m | +37.1% |
| Credit institutions | 173 | €0 | - | = | |
| Other loans | 174 | €3,984,918 | €5,461,766 | +€1.5m | +37.1% |
| Amounts payable within one year | 42/48 | €2,620,232 | €1,818,398 | -€801,834 | -30.6% |
| Current portion of amounts payable after more than one year | 42 | €1,323,283 | €15,427 | -€1.3m | -98.8% |
| Financial debts | 43 | €200,000 | €200,000 | = | 0.0% |
| Credit institutions | 430/8 | €200,000 | €200,000 | = | 0.0% |
| Trade debts | 44 | €499,927 | €761,507 | +€261,579 | +52.3% |
| Suppliers | 440/4 | €499,927 | €761,507 | +€261,579 | +52.3% |
| Taxes, remuneration and social security | 45 | €597,022 | €841,464 | +€244,443 | +40.9% |
| Taxes | 450/3 | €94,199 | €274,830 | +€180,630 | +191.8% |
| Remuneration and social security | 454/9 | €502,822 | €566,635 | +€63,812 | +12.7% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | - | €25,147 | +€25,147 | |
| Operating income | 70/76A | €10,811,618 | €9,668,607 | -€1.1m | -10.6% |
| Turnover | 70 | €10,581,295 | €9,461,773 | -€1.1m | -10.6% |
| Other operating income | 74 | €189,328 | €200,927 | +€11,599 | +6.1% |
| Non-recurring operating income | 76A | €40,996 | €5,907 | -€35,089 | -85.6% |
| Operating charges | 60/66A | €11,360,143 | €10,662,751 | -€697,392 | -6.1% |
| Goods for resale, raw materials and consumables | 60 | €558,251 | €701,065 | +€142,814 | +25.6% |
| Purchases | 600/8 | €3,332,968 | €74,854 | -€3.3m | -97.8% |
| Change in stocks: decrease (increase) | 609 | -€2,774,717 | €626,211 | +€3.4m | |
| Services and other goods | 61 | €5,629,287 | €5,403,982 | -€225,305 | -4.0% |
| Remuneration, social security and pensions | 62 | €4,644,916 | €4,363,857 | -€281,059 | -6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €201,045 | €196,169 | -€4,876 | -2.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €230,000 | -€70,000 | -€300,000 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €6,411 | €15,675 | +€9,264 | +144.5% |
| Other operating charges | 640/8 | €90,233 | €52,004 | -€38,229 | -42.4% |
| Operating profit (loss) | 9901 | -€548,525 | -€994,144 | -€445,619 | -81.2% |
| Financial income | 75/76B | €13,566 | €6,151 | -€7,416 | -54.7% |
| Recurring financial income | 75 | €13,566 | €6,151 | -€7,416 | -54.7% |
| Income from financial fixed assets | 750 | €613 | €3,033 | +€2,420 | +394.9% |
| Other financial income | 752/9 | €12,953 | €3,118 | -€9,836 | -75.9% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €321,068 | €234,144 | -€86,925 | -27.1% |
| Recurring financial charges | 65 | €321,068 | €234,144 | -€86,925 | -27.1% |
| Debt charges | 650 | €31,224 | €16,776 | -€14,448 | -46.3% |
| Other financial charges | 652/9 | €289,844 | €217,368 | -€72,476 | -25.0% |
| Profit (loss) for the period before taxes | 9903 | -€856,027 | -€1,222,137 | -€366,110 | -42.8% |
| Income taxes | 67/77 | €43 | €14,055 | +€14,012 | +32465.8% |
| Taxes | 670/3 | €43 | €14,055 | +€14,012 | +32465.8% |
| Profit (loss) for the period | 9904 | -€856,070 | -€1,236,193 | -€380,123 | -44.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€856,070 | -€1,236,193 | -€380,123 | -44.4% |
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 9 October 2026 via checked.be.