MBS Turbo: 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.
MBS Turbo
Largest movements
- Stocks and contracts +€51,297
up €51,297 (+12.2%), from €419,547 to €470,844
- Receivables within one year +€38,596
up €38,596 (+23.1%), from €166,727 to €205,324
of which Trade receivables: +€44,868
- Cash +€35,546
up €35,546 (+47.7%), from €74,537 to €110,084
mainly Trade debts (+€139,237) and Accrued charges and deferred income (+€17,211)
- Tangible fixed assets -€16,213
down €16,213 (-23.6%), from €68,813 to €52,600
of which Furniture and vehicles: -€13,190
- Trade debts +€139,237
up €139,237 (+133%), from €104,602 to €243,839
- Other debts -€23,251
down €23,251 (-3.9%), from €596,516 to €573,265
- Reserves -€18,491
down €18,491 (-100%), from €18,491 to €0
- Accrued charges and deferred income +€17,211
up €17,211 (+1,194%), from €1,442 to €18,653
- Gross operating margin +€63,433
up €63,433 (+63.0%), from €100,650 to €164,082
- Staff costs +€54,832
up €54,832 (+83.7%), from €65,539 to €120,371
- Write-downs +€25,660
new in 2025: €25,660
- Financial charges +€20,780
up €20,780 (+285%), from €7,298 to €28,078
- Depreciation +€8,384
up €8,384 (+107%), from €7,829 to €16,213
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 | €740,944 | €850,367 | +€109,423 | +14.8% |
| Fixed assets | 21/28 | €78,063 | €61,860 | -€16,203 | -20.8% |
| Tangible fixed assets | 22/27 | €68,813 | €52,600 | -€16,213 | -23.6% |
| Plant, machinery and equipment | 23 | €10,845 | €7,822 | -€3,023 | -27.9% |
| Furniture and vehicles | 24 | €57,967 | €44,778 | -€13,190 | -22.8% |
| Financial fixed assets | 28 | €9,250 | €9,260 | +€10 | +0.1% |
| Current assets | 29/58 | €662,881 | €788,507 | +€125,626 | +19.0% |
| Stocks and contracts in progress | 3 | €419,547 | €470,844 | +€51,297 | +12.2% |
| Stocks | 30/36 | €419,547 | €470,844 | +€51,297 | +12.2% |
| Amounts receivable within one year | 40/41 | €166,727 | €205,324 | +€38,596 | +23.1% |
| Trade receivables | 40 | €131,580 | €176,447 | +€44,868 | +34.1% |
| Other amounts receivable | 41 | €35,147 | €28,876 | -€6,271 | -17.8% |
| Cash at bank and in hand | 54/58 | €74,537 | €110,084 | +€35,546 | +47.7% |
| Deferred charges and accrued income | 490/1 | €2,069 | €2,256 | +€187 | +9.0% |
| Total equity and liabilities | 10/49 | €740,944 | €850,367 | +€109,423 | +14.8% |
| Equity | 10/15 | €28,491 | €5,787 | -€22,704 | -79.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €18,491 | €0 | -€18,491 | -100% |
| Distributable reserves | 133 | €18,491 | €0 | -€18,491 | -100% |
| Profit (loss) carried forward | 14 | - | -€4,213 | -€4,213 | |
| Amounts payable | 17/49 | €712,453 | €844,580 | +€132,127 | +18.5% |
| Amounts payable within one year | 42/48 | €711,011 | €825,927 | +€114,916 | +16.2% |
| Trade debts | 44 | €104,602 | €243,839 | +€139,237 | +133% |
| Suppliers | 440/4 | €104,602 | €243,839 | +€139,237 | +133% |
| Taxes, remuneration and social security | 45 | €9,893 | €8,822 | -€1,070 | -10.8% |
| Taxes | 450/3 | €4,855 | €221 | -€4,635 | -95.5% |
| Remuneration and social security | 454/9 | €5,037 | €8,602 | +€3,564 | +70.8% |
| Other amounts payable | 47/48 | €596,516 | €573,265 | -€23,251 | -3.9% |
| Accrued charges and deferred income | 492/3 | €1,442 | €18,653 | +€17,211 | +1,194% |
| Remuneration, social security and pensions | 62 | €65,539 | €120,371 | +€54,832 | +83.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,829 | €16,213 | +€8,384 | +107% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €25,660 | +€25,660 | |
| Other operating charges | 640/8 | €471 | €962 | +€490 | +104% |
| Gross operating margin | 9900 | €100,650 | €164,082 | +€63,433 | +63.0% |
| Operating profit (loss) | 9901 | €26,810 | €877 | -€25,933 | -96.7% |
| Financial income | 75/76B | €3,835 | €4,718 | +€883 | +23.0% |
| Recurring financial income | 75 | €3,835 | €4,718 | +€883 | +23.0% |
| Financial charges | 65/66B | €7,298 | €28,078 | +€20,780 | +285% |
| Recurring financial charges | 65 | €7,298 | €28,078 | +€20,780 | +285% |
| Profit (loss) for the period before taxes | 9903 | €23,347 | -€22,483 | -€45,830 | |
| Income taxes | 67/77 | €4,855 | €221 | -€4,635 | -95.5% |
| Profit (loss) for the period | 9904 | €18,491 | -€22,704 | -€41,195 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,491 | -€22,704 | -€41,195 |
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 25 October 2026 via checked.be.