MBT: 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.
MBT
Largest movements
- Cash +€55,682
up €55,682 (+384.6%), from €14,478 to €70,160
mainly Net result for the year (+€43,085) and Depreciation (+€22,048)
- Receivables within one year -€11,035
down €11,035 (-65.9%), from €16,742 to €5,708
of which Trade receivables: -€10,000
- Tangible fixed assets -€9,048
down €9,048 (-1.3%), from €683,886 to €674,838
- Reserves +€43,085
up €43,085 (+22.3%), from €193,528 to €236,612
- Depreciation -€5,401
down €5,401 (-19.7%), from €27,450 to €22,048
- Taxes +€1,141
up €1,141 (+7.8%), from €14,691 to €15,832
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 | €717,815 | €753,421 | +€35,606 | +5.0% |
| Fixed assets | 21/28 | €683,886 | €674,838 | -€9,048 | -1.3% |
| Tangible fixed assets | 22/27 | €683,886 | €674,838 | -€9,048 | -1.3% |
| Land and buildings | 22 | €683,886 | €674,838 | -€9,048 | -1.3% |
| Current assets | 29/58 | €33,929 | €78,583 | +€44,654 | +131.6% |
| Amounts receivable within one year | 40/41 | €16,742 | €5,708 | -€11,035 | -65.9% |
| Trade receivables | 40 | €10,000 | €0 | -€10,000 | -100.0% |
| Other amounts receivable | 41 | €6,742 | €5,708 | -€1,035 | -15.3% |
| Cash at bank and in hand | 54/58 | €14,478 | €70,160 | +€55,682 | +384.6% |
| Deferred charges and accrued income | 490/1 | €2,708 | €2,715 | +€7 | +0.3% |
| Total equity and liabilities | 10/49 | €717,815 | €753,421 | +€35,606 | +5.0% |
| Equity | 10/15 | €443,528 | €486,612 | +€43,085 | +9.7% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €193,528 | €236,612 | +€43,085 | +22.3% |
| Distributable reserves | 133 | €193,528 | €236,612 | +€43,085 | +22.3% |
| Amounts payable | 17/49 | €274,287 | €266,808 | -€7,479 | -2.7% |
| Amounts payable after more than one year | 17 | €250,000 | €250,000 | = | 0.0% |
| Financial debts | 170/4 | €250,000 | €250,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €11,787 | €4,308 | -€7,479 | -63.4% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €496 | €0 | -€496 | -100.0% |
| Suppliers | 440/4 | €496 | €0 | -€496 | -100.0% |
| Taxes, remuneration and social security | 45 | €10,531 | €4,308 | -€6,222 | -59.1% |
| Taxes | 450/3 | €8,181 | €4,308 | -€3,872 | -47.3% |
| Remuneration and social security | 454/9 | €2,350 | €0 | -€2,350 | -100.0% |
| Other amounts payable | 47/48 | €761 | €0 | -€761 | -100.0% |
| Accrued charges and deferred income | 492/3 | €12,500 | €12,500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,450 | €22,048 | -€5,401 | -19.7% |
| Other operating charges | 640/8 | €6,986 | €7,200 | +€214 | +3.1% |
| Gross operating margin | 9900 | €101,572 | €100,732 | -€840 | -0.8% |
| Operating profit (loss) | 9901 | €67,137 | €71,483 | +€4,347 | +6.5% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €12,639 | €12,567 | -€72 | -0.6% |
| Recurring financial charges | 65 | €12,639 | €12,567 | -€72 | -0.6% |
| Profit (loss) for the period before taxes | 9903 | €54,498 | €58,916 | +€4,419 | +8.1% |
| Income taxes | 67/77 | €14,691 | €15,832 | +€1,141 | +7.8% |
| Profit (loss) for the period | 9904 | €39,807 | €43,085 | +€3,278 | +8.2% |
| Profit (loss) for the period to be appropriated | 9905 | €39,807 | €43,085 | +€3,278 | +8.2% |
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.