MWB-Finance: 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.
What changed
MWB-Finance
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€17,386
2024 · -€68,882+€86,268
Equity
€3.3m
2024 · €3.2m+€17,387
Cash
€52,056
2024 · €73,578-€21,522
Balance sheet total
€3.8m
2024 · €3.9m-€110,624
Largest movements
Assets
- Tangible fixed assets -€119,357
down €119,357 (-7.5%), from €1.6m to €1.5m
Equity and liabilities
- Debts after one year -€130,000
down €130,000 (-18.6%), from €700,000 to €570,000
Income statement
- Financial charges -€80,069
down €80,069 (-99.9%), from €80,154 to €85
of which Non-recurring financial charges: -€80,070
- Gross operating margin +€6,894
up €6,894 (+4.6%), from €148,275 to €155,169
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.
Result 2024
-€68,882
Gross operating margin
+€6,894
Depreciation
+€1
Other operating charges
-€623
Financial income
-€73
Financial charges
+€80,069
Result 2025
€17,386
raises the resultlowers the result
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.
From operations
+€106,496
Investment
+€1,981
Financing
-€129,999
Cash 2024
€73,578
From operations (derived)
+€106,496
Net result for the year
+€17,386
Depreciation
+€119,357
Receivables within one year
-€31,353
Deferred charges and accrued income
-€883
Trade debts
+€378
Tax, wage and social debts
+€745
Accrued charges and deferred income
+€866
Investment (derived)
+€1,981
Investment in fixed assets (net)
+€1,981
Financing
-€129,999
Debts after one year
-€130,000
Contributions, distributions and other
+€1
Cash 2025
€52,056
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,939,502 | €3,828,878 | -€110,624 | -2.8% |
| Fixed assets | 21/28 | €3,844,632 | €3,723,294 | -€121,338 | -3.2% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €1,597,296 | €1,477,939 | -€119,357 | -7.5% |
| Land and buildings | 22 | €1,597,296 | €1,477,939 | -€119,357 | -7.5% |
| Financial fixed assets | 28 | €2,247,336 | €2,245,355 | -€1,981 | -0.1% |
| Current assets | 29/58 | €94,870 | €105,584 | +€10,714 | +11.3% |
| Amounts receivable within one year | 40/41 | €17,723 | €49,076 | +€31,353 | +177% |
| Trade receivables | 40 | €15,818 | €47,095 | +€31,277 | +198% |
| Other amounts receivable | 41 | €1,905 | €1,981 | +€76 | +4.0% |
| Cash at bank and in hand | 54/58 | €73,578 | €52,056 | -€21,522 | -29.3% |
| Deferred charges and accrued income | 490/1 | €3,569 | €4,452 | +€883 | +24.7% |
| Total equity and liabilities | 10/49 | €3,939,502 | €3,828,878 | -€110,624 | -2.8% |
| Equity | 10/15 | €3,235,595 | €3,252,982 | +€17,387 | +0.5% |
| Contributions | 10/11 | €3,334,105 | €3,334,105 | = | 0.0% |
| Capital | 10 | €3,334,105 | €3,334,105 | = | 0.0% |
| Issued capital | 100 | €3,334,105 | €3,334,105 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€98,510 | -€81,123 | +€17,387 | +17.6% |
| Amounts payable | 17/49 | €703,907 | €575,896 | -€128,011 | -18.2% |
| Amounts payable after more than one year | 17 | €700,000 | €570,000 | -€130,000 | -18.6% |
| Other amounts payable | 178/9 | €700,000 | €570,000 | -€130,000 | -18.6% |
| Amounts payable within one year | 42/48 | €2,874 | €3,997 | +€1,123 | +39.1% |
| Trade debts | 44 | €2,554 | €2,932 | +€378 | +14.8% |
| Suppliers | 440/4 | €2,554 | €2,932 | +€378 | +14.8% |
| Taxes, remuneration and social security | 45 | €320 | €1,065 | +€745 | +233% |
| Taxes | 450/3 | €320 | €1,065 | +€745 | +233% |
| Accrued charges and deferred income | 492/3 | €1,033 | €1,899 | +€866 | +83.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €119,358 | €119,357 | -€1 | 0.0% |
| Other operating charges | 640/8 | €18,420 | €19,043 | +€623 | +3.4% |
| Gross operating margin | 9900 | €148,275 | €155,169 | +€6,894 | +4.6% |
| Operating profit (loss) | 9901 | €10,497 | €16,769 | +€6,272 | +59.8% |
| Financial income | 75/76B | €775 | €702 | -€73 | -9.4% |
| Recurring financial income | 75 | €775 | €702 | -€73 | -9.4% |
| Financial charges | 65/66B | €80,154 | €85 | -€80,069 | -99.9% |
| Recurring financial charges | 65 | €84 | €85 | +€1 | +1.2% |
| Non-recurring financial charges | 66B | €80,070 | - | -€80,070 | |
| Profit (loss) for the period before taxes | 9903 | -€68,882 | €17,386 | +€86,268 | |
| Profit (loss) for the period | 9904 | -€68,882 | €17,386 | +€86,268 | |
| Profit (loss) for the period to be appropriated | 9905 | -€68,882 | €17,386 | +€86,268 |
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 28 October 2026 via checked.be.