MBV-PRO: what changed
What changed
MBV-PRO
NACE 47.400, Retail sale of information and communication equipment
filed annual accounts (NBB)
Net result for the year
€24,797
2025 · €7,698+€17,099
Equity
-€22,581
2025 · -€47,379+€24,797
Cash
€54,558
2025 · €66,115-€11,557
Balance sheet total
€609,461
2025 · €634,263-€24,802
Largest movements
Assets
- Tangible fixed assets -€26,776
down €26,776 (-14.2%), from €188,245 to €161,469
of which Other tangible fixed assets: -€14,309
- Stocks and contracts +€25,388
up €25,388 (+9.1%), from €279,717 to €305,104
- Cash -€11,557
down €11,557 (-17.5%), from €66,115 to €54,558
mainly Debts after one year (-€59,803) and Stocks and contracts (-€25,388)
- Receivables within one year -€10,725
down €10,725 (-13.4%), from €80,287 to €69,562
of which Trade receivables: -€11,309
Equity and liabilities
- Debts after one year -€59,803
down €59,803 (-13.8%), from €432,627 to €372,824
- Profit (loss) carried forward +€24,797
up €24,797 (+25.5%), from -€97,379 to -€72,581
- Trade debts +€8,225
up €8,225 (+9.2%), from €89,517 to €97,742
Income statement
- Gross operating margin +€65,989
up €65,989 (+56.0%), from €117,930 to €183,919
- Staff costs +€47,699
up €47,699 (+102%), from €46,813 to €94,512
- Other operating charges +€2,148
up €2,148 (+170%), from €1,263 to €3,412
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
€7,698
Gross operating margin
+€65,989
Staff costs
-€47,699
Depreciation
-€429
Other operating charges
-€2,148
Other operating items
-€218
Financial income
+€87
Financial charges
+€1,502
Taxes
+€15
Result 2026
€24,797
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€55,379
Investment
-€9,729
Financing
-€57,207
Cash 2025
€66,115
From operations (derived)
+€55,379
Net result for the year
+€24,797
Depreciation
+€38,006
Stocks and contracts
-€25,388
Receivables within one year
+€10,725
Deferred charges and accrued income
-€368
Trade debts
+€8,225
Tax, wage and social debts
-€5,759
Advances received
+€5,260
Smaller working-capital items
-€119
Investment (derived)
-€9,729
Investment in fixed assets (net)
-€9,729
Financing
-€57,207
Debts after one year
-€59,803
Current portion of long-term debt
+€2,596
Cash 2026
€54,558
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €634,263 | €609,461 | -€24,802 | -3.9% |
| Fixed assets | 21/28 | €204,681 | €176,404 | -€28,276 | -13.8% |
| Intangible fixed assets | 21 | €12,426 | €10,926 | -€1,500 | -12.1% |
| Tangible fixed assets | 22/27 | €188,245 | €161,469 | -€26,776 | -14.2% |
| Furniture and vehicles | 24 | €62,040 | €49,573 | -€12,467 | -20.1% |
| Other tangible fixed assets | 26 | €126,205 | €111,896 | -€14,309 | -11.3% |
| Financial fixed assets | 28 | €4,009 | €4,009 | = | 0.0% |
| Current assets | 29/58 | €429,582 | €433,057 | +€3,474 | +0.8% |
| Stocks and contracts in progress | 3 | €279,717 | €305,104 | +€25,388 | +9.1% |
| Stocks | 30/36 | €279,717 | €305,104 | +€25,388 | +9.1% |
| Amounts receivable within one year | 40/41 | €80,287 | €69,562 | -€10,725 | -13.4% |
| Trade receivables | 40 | €79,044 | €67,735 | -€11,309 | -14.3% |
| Other amounts receivable | 41 | €1,243 | €1,828 | +€584 | +47.0% |
| Cash at bank and in hand | 54/58 | €66,115 | €54,558 | -€11,557 | -17.5% |
| Deferred charges and accrued income | 490/1 | €3,463 | €3,832 | +€368 | +10.6% |
| Total equity and liabilities | 10/49 | €634,263 | €609,461 | -€24,802 | -3.9% |
| Equity | 10/15 | -€47,379 | -€22,581 | +€24,797 | +52.3% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€97,379 | -€72,581 | +€24,797 | +25.5% |
| Amounts payable | 17/49 | €681,642 | €632,042 | -€49,599 | -7.3% |
| Amounts payable after more than one year | 17 | €432,627 | €372,824 | -€59,803 | -13.8% |
| Financial debts | 170/4 | €432,627 | €372,824 | -€59,803 | -13.8% |
| Amounts payable within one year | 42/48 | €248,455 | €258,780 | +€10,325 | +4.2% |
| Current portion of amounts payable after more than one year | 42 | €57,207 | €59,803 | +€2,596 | +4.5% |
| Trade debts | 44 | €89,517 | €97,742 | +€8,225 | +9.2% |
| Suppliers | 440/4 | €89,517 | €97,742 | +€8,225 | +9.2% |
| Advances received on contracts in progress | 46 | - | €5,260 | +€5,260 | |
| Taxes, remuneration and social security | 45 | €31,399 | €25,640 | -€5,759 | -18.3% |
| Taxes | 450/3 | €19,182 | €5,694 | -€13,487 | -70.3% |
| Remuneration and social security | 454/9 | €12,217 | €19,946 | +€7,729 | +63.3% |
| Other amounts payable | 47/48 | €70,333 | €70,335 | +€2 | 0.0% |
| Accrued charges and deferred income | 492/3 | €560 | €438 | -€122 | -21.7% |
| Remuneration, social security and pensions | 62 | €46,813 | €94,512 | +€47,699 | +102% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,576 | €38,006 | +€429 | +1.1% |
| Other operating charges | 640/8 | €1,263 | €3,412 | +€2,148 | +170% |
| Non-recurring operating charges | 66A | €90 | €308 | +€218 | +242% |
| Gross operating margin | 9900 | €117,930 | €183,919 | +€65,989 | +56.0% |
| Operating profit (loss) | 9901 | €32,187 | €47,681 | +€15,494 | +48.1% |
| Financial income | 75/76B | €127 | €214 | +€87 | +68.8% |
| Recurring financial income | 75 | €127 | €214 | +€87 | +68.8% |
| Financial charges | 65/66B | €24,589 | €23,086 | -€1,502 | -6.1% |
| Recurring financial charges | 65 | €24,589 | €23,086 | -€1,502 | -6.1% |
| Profit (loss) for the period before taxes | 9903 | €7,725 | €24,809 | +€17,084 | +221% |
| Income taxes | 67/77 | €27 | €11 | -€15 | -57.6% |
| Profit (loss) for the period | 9904 | €7,698 | €24,797 | +€17,099 | +222% |
| Profit (loss) for the period to be appropriated | 9905 | €7,698 | €24,797 | +€17,099 | +222% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.