MR BELGIUM: what changed
MR BELGIUM
Largest movements
- Cash +€40,341
up €40,341 (+240%), from €16,817 to €57,158
mainly Trade debts (+€67,993) and Depreciation (+€25,681)
- Tangible fixed assets -€19,320
down €19,320 (-25.3%), from €76,383 to €57,064
of which Furniture and vehicles: -€15,800
- Receivables within one year +€8,882
up €8,882 (+4.2%), from €210,453 to €219,336
of which Trade receivables: +€4,674
- Trade debts +€67,993
up €67,993 (+176%), from €38,605 to €106,598
- Profit (loss) carried forward -€23,590
down €23,590 (-19.6%), from €120,481 to €96,891
- Debts after one year -€11,604
down €11,604 (-61.6%), from €18,843 to €7,239
- Tax, wage and social debts -€6,089
down €6,089 (-5.5%), from €110,722 to €104,633
- Gross operating margin -€60,944
down €60,944 (-65.0%), from €93,824 to €32,881
- Depreciation +€18,250
up €18,250 (+246%), from €7,432 to €25,681
- Taxes -€11,868
down €11,868 (-31.3%), from €37,868 to €26,000
- Staff costs -€7,630
no longer reported in 2025 (was €7,630)
- Financial income +€5,498
up €5,498 (+255,714%), from €2 to €5,500
of which Non-recurring financial income: +€5,500
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €390,600 | €419,642 | +€29,042 | +7.4% |
| Fixed assets | 21/28 | €86,515 | €67,196 | -€19,320 | -22.3% |
| Tangible fixed assets | 22/27 | €76,383 | €57,064 | -€19,320 | -25.3% |
| Plant, machinery and equipment | 23 | €17,590 | €14,070 | -€3,520 | -20.0% |
| Furniture and vehicles | 24 | €58,793 | €42,993 | -€15,800 | -26.9% |
| Financial fixed assets | 28 | €10,132 | €10,132 | = | 0.0% |
| Current assets | 29/58 | €304,084 | €352,446 | +€48,362 | +15.9% |
| Amounts receivable after more than one year | 29 | €75,349 | €75,349 | = | 0.0% |
| Other amounts receivable | 291 | €75,349 | €75,349 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €210,453 | €219,336 | +€8,882 | +4.2% |
| Trade receivables | 40 | €202,306 | €206,980 | +€4,674 | +2.3% |
| Other amounts receivable | 41 | €8,148 | €12,356 | +€4,208 | +51.7% |
| Cash at bank and in hand | 54/58 | €16,817 | €57,158 | +€40,341 | +240% |
| Deferred charges and accrued income | 490/1 | €1,465 | €604 | -€861 | -58.8% |
| Total equity and liabilities | 10/49 | €390,600 | €419,642 | +€29,042 | +7.4% |
| Equity | 10/15 | €181,379 | €157,789 | -€23,590 | -13.0% |
| Contributions | 10/11 | €16,200 | €16,200 | = | 0.0% |
| Capital | 10 | €16,200 | €16,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €2,400 | €2,400 | = | 0.0% |
| Reserves | 13 | €44,698 | €44,698 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,000 | €18,000 | = | 0.0% |
| Distributable reserves | 133 | €26,698 | €26,698 | = | 0.0% |
| Profit (loss) carried forward | 14 | €120,481 | €96,891 | -€23,590 | -19.6% |
| Amounts payable | 17/49 | €209,221 | €261,853 | +€52,632 | +25.2% |
| Amounts payable after more than one year | 17 | €18,843 | €7,239 | -€11,604 | -61.6% |
| Financial debts | 170/4 | €18,843 | €7,239 | -€11,604 | -61.6% |
| Amounts payable within one year | 42/48 | €190,378 | €254,614 | +€64,236 | +33.7% |
| Current portion of amounts payable after more than one year | 42 | €1,050 | €3,383 | +€2,332 | +222% |
| Trade debts | 44 | €38,605 | €106,598 | +€67,993 | +176% |
| Suppliers | 440/4 | €38,605 | €106,598 | +€67,993 | +176% |
| Taxes, remuneration and social security | 45 | €110,722 | €104,633 | -€6,089 | -5.5% |
| Taxes | 450/3 | €110,722 | €104,633 | -€6,089 | -5.5% |
| Other amounts payable | 47/48 | €40,000 | €40,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €7,630 | - | -€7,630 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,432 | €25,681 | +€18,250 | +246% |
| Other operating charges | 640/8 | €3,783 | €5,300 | +€1,517 | +40.1% |
| Gross operating margin | 9900 | €93,824 | €32,881 | -€60,944 | -65.0% |
| Operating profit (loss) | 9901 | €74,980 | €1,900 | -€73,080 | -97.5% |
| Financial income | 75/76B | €2 | €5,500 | +€5,498 | +255,714% |
| Recurring financial income | 75 | €2 | €5,500 | +€5,498 | +255,714% |
| Non-recurring financial income | 76B | - | €5,500 | +€5,500 | |
| Financial charges | 65/66B | €5,219 | €4,990 | -€229 | -4.4% |
| Recurring financial charges | 65 | €5,219 | €4,990 | -€229 | -4.4% |
| Profit (loss) for the period before taxes | 9903 | €69,764 | €2,410 | -€67,353 | -96.5% |
| Income taxes | 67/77 | €37,868 | €26,000 | -€11,868 | -31.3% |
| Profit (loss) for the period | 9904 | €31,896 | -€23,590 | -€55,485 | |
| Profit (loss) for the period to be appropriated | 9905 | €31,896 | -€23,590 | -€55,485 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.