MWB: 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.
MWB
Largest movements
- Cash +€82,230
up €82,230 (+14.5%), from €565,374 to €647,604
mainly Net result for the year (+€73,112) and Other debts (+€13,527)
- Reserves +€72,275
up €72,275 (+12.0%), from €603,206 to €675,481
- Other debts +€13,527
up €13,527 (+3.0%), from €452,032 to €465,560
- Provisions -€24,000
no longer reported in 2025 (was €24,000)
- Gross operating margin -€21,328
down €21,328 (-15.4%), from €138,890 to €117,562
- Financial charges -€3,345
down €3,345 (-20.7%), from €16,199 to €12,853
- Taxes +€2,099
up €2,099 (+8.1%), from €25,972 to €28,071
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 | €1,130,683 | €1,212,907 | +€82,224 | +7.3% |
| Formation expenses | 20 | €0 | €0 | = | |
| Current assets | 29/58 | €1,130,683 | €1,212,907 | +€82,224 | +7.3% |
| Amounts receivable within one year | 40/41 | €8,984 | €8,978 | -€6 | -0.1% |
| Trade receivables | 40 | €8,978 | €8,978 | = | 0.0% |
| Other amounts receivable | 41 | €6 | - | -€6 | |
| Current investments | 50/53 | €556,325 | €556,325 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €565,374 | €647,604 | +€82,230 | +14.5% |
| Total equity and liabilities | 10/49 | €1,130,683 | €1,212,907 | +€82,224 | +7.3% |
| Equity | 10/15 | €616,425 | €688,704 | +€72,279 | +11.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €603,206 | €675,481 | +€72,275 | +12.0% |
| Distributable reserves | 133 | €603,206 | €675,481 | +€72,275 | +12.0% |
| Profit (loss) carried forward | 14 | €819 | €823 | +€4 | +0.5% |
| Provisions and deferred taxes | 16 | €24,000 | €24,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €24,000 | €24,000 | = | 0.0% |
| Environmental obligations | 163 | €24,000 | €24,000 | = | 0.0% |
| Amounts payable | 17/49 | €490,258 | €500,203 | +€9,945 | +2.0% |
| Amounts payable within one year | 42/48 | €490,258 | €500,203 | +€9,945 | +2.0% |
| Trade debts | 44 | €2,828 | €1,898 | -€930 | -32.9% |
| Suppliers | 440/4 | €2,828 | €1,898 | -€930 | -32.9% |
| Taxes, remuneration and social security | 45 | €35,398 | €32,745 | -€2,652 | -7.5% |
| Taxes | 450/3 | €32,199 | €29,506 | -€2,693 | -8.4% |
| Remuneration and social security | 454/9 | €3,198 | €3,239 | +€41 | +1.3% |
| Other amounts payable | 47/48 | €452,032 | €465,560 | +€13,527 | +3.0% |
| Remuneration, social security and pensions | 62 | €3,898 | €3,464 | -€434 | -11.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €24,000 | - | -€24,000 | |
| Other operating charges | 640/8 | €62 | €62 | = | 0.0% |
| Gross operating margin | 9900 | €138,890 | €117,562 | -€21,328 | -15.4% |
| Operating profit (loss) | 9901 | €110,930 | €114,036 | +€3,106 | +2.8% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €16,199 | €12,853 | -€3,345 | -20.7% |
| Recurring financial charges | 65 | €16,199 | €12,853 | -€3,345 | -20.7% |
| Profit (loss) for the period before taxes | 9903 | €94,731 | €101,183 | +€6,452 | +6.8% |
| Income taxes | 67/77 | €25,972 | €28,071 | +€2,099 | +8.1% |
| Profit (loss) for the period | 9904 | €68,759 | €73,112 | +€4,353 | +6.3% |
| Profit (loss) for the period to be appropriated | 9905 | €68,759 | €73,112 | +€4,353 | +6.3% |
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 10 October 2026 via checked.be.