MNE Belgium: 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.
MNE Belgium
Largest movements
- Receivables within one year +€27,205
up €27,205 (+8.5%), from €319,728 to €346,933
of which Other amounts receivable: +€104,174
- Cash -€6,825
down €6,825 (-20.5%), from €33,220 to €26,396
mainly Receivables within one year (-€27,205) and Current portion of long-term debt (-€1,809)
- Tangible fixed assets -€5,574
down €5,574 (-100%), from €5,574 to €0
of which Furniture and vehicles: -€5,493
- Deferred charges and accrued income -€3,987
down €3,987 (-100%), from €3,987 to €0
- Trade debts +€8,046
up €8,046 (+9.1%), from €88,072 to €96,117
- Reserves +€5,070
up €5,070 (+2.3%), from €220,624 to €225,694
of which Distributable reserves: +€5,070
- Gross operating margin -€15,893
down €15,893 (-7.6%), from €208,666 to €192,773
- Taxes -€5,542
down €5,542 (-53.2%), from €10,410 to €4,869
- Depreciation -€5,424
down €5,424 (-49.3%), from €10,998 to €5,574
- Staff costs +€5,335
up €5,335 (+3.2%), from €165,854 to €171,189
- Financial charges +€2,347
up €2,347 (+80.9%), from €2,900 to €5,246
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 | €365,509 | €376,329 | +€10,820 | +3.0% |
| Fixed assets | 21/28 | €8,574 | €3,000 | -€5,574 | -65.0% |
| Tangible fixed assets | 22/27 | €5,574 | €0 | -€5,574 | -100% |
| Plant, machinery and equipment | 23 | €81 | €0 | -€81 | -100% |
| Furniture and vehicles | 24 | €5,493 | €0 | -€5,493 | -100% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €356,935 | €373,329 | +€16,394 | +4.6% |
| Amounts receivable within one year | 40/41 | €319,728 | €346,933 | +€27,205 | +8.5% |
| Trade receivables | 40 | €120,154 | €43,185 | -€76,969 | -64.1% |
| Other amounts receivable | 41 | €199,574 | €303,748 | +€104,174 | +52.2% |
| Cash at bank and in hand | 54/58 | €33,220 | €26,396 | -€6,825 | -20.5% |
| Deferred charges and accrued income | 490/1 | €3,987 | €0 | -€3,987 | -100% |
| Total equity and liabilities | 10/49 | €365,509 | €376,329 | +€10,820 | +3.0% |
| Equity | 10/15 | €239,216 | €244,286 | +€5,070 | +2.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €220,624 | €225,694 | +€5,070 | +2.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €218,764 | €223,834 | +€5,070 | +2.3% |
| Amounts payable | 17/49 | €126,292 | €132,042 | +€5,750 | +4.6% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €126,292 | €132,042 | +€5,750 | +4.6% |
| Current portion of amounts payable after more than one year | 42 | €1,809 | €0 | -€1,809 | -100% |
| Trade debts | 44 | €88,072 | €96,117 | +€8,046 | +9.1% |
| Suppliers | 440/4 | €88,072 | €96,117 | +€8,046 | +9.1% |
| Taxes, remuneration and social security | 45 | €35,236 | €34,750 | -€486 | -1.4% |
| Taxes | 450/3 | €16,336 | €15,279 | -€1,057 | -6.5% |
| Remuneration and social security | 454/9 | €18,899 | €19,470 | +€571 | +3.0% |
| Other amounts payable | 47/48 | €1,175 | €1,175 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | €7,849 | +€7,849 | |
| Remuneration, social security and pensions | 62 | €165,854 | €171,189 | +€5,335 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,998 | €5,574 | -€5,424 | -49.3% |
| Other operating charges | 640/8 | €674 | €825 | +€152 | +22.5% |
| Gross operating margin | 9900 | €208,666 | €192,773 | -€15,893 | -7.6% |
| Operating profit (loss) | 9901 | €31,141 | €15,185 | -€15,956 | -51.2% |
| Financial charges | 65/66B | €2,900 | €5,246 | +€2,347 | +80.9% |
| Recurring financial charges | 65 | €2,900 | €5,246 | +€2,347 | +80.9% |
| Profit (loss) for the period before taxes | 9903 | €28,241 | €9,938 | -€18,303 | -64.8% |
| Income taxes | 67/77 | €10,410 | €4,869 | -€5,542 | -53.2% |
| Profit (loss) for the period | 9904 | €17,831 | €5,070 | -€12,761 | -71.6% |
| Profit (loss) for the period to be appropriated | 9905 | €17,831 | €5,070 | -€12,761 | -71.6% |
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 31 October 2026 via checked.be.