FOTO MABO: 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.
FOTO MABO
Largest movements
- Receivables within one year +€93,240
up €93,240 (+164%), from €56,847 to €150,087
of which Other amounts receivable: +€73,341
- Cash +€58,325
up €58,325 (+43.8%), from €133,149 to €191,474
mainly Net result for the year (+€119,228) and Trade debts (+€46,113)
- Tangible fixed assets -€33,970
down €33,970 (-48.5%), from €70,047 to €36,077
of which Land and buildings: -€51,812
- Stocks and contracts -€16,104
down €16,104 (-8.9%), from €180,315 to €164,211
- Profit (loss) carried forward +€119,228
up €119,228 (+562%), from €21,228 to €140,457
- Trade debts +€46,113
up €46,113 (+634%), from €7,272 to €53,385
- Reserves -€30,754
down €30,754 (-12.2%), from €252,712 to €221,958
- Debts after one year -€30,537
down €30,537 (-80.9%), from €37,734 to €7,198
- Current portion of long-term debt -€12,665
down €12,665 (-60.1%), from €21,078 to €8,413
- Gross operating margin +€210,514
up €210,514 (+231%), from €91,312 to €301,826
- Taxes +€41,643
up €41,643, from -€70 to €41,574
- Staff costs +€9,421
up €9,421 (+8.8%), from €106,808 to €116,229
- Other operating charges +€4,705
up €4,705 (+180%), from €2,621 to €7,326
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 | €458,825 | €558,034 | +€99,208 | +21.6% |
| Fixed assets | 21/28 | €86,231 | €52,261 | -€33,970 | -39.4% |
| Tangible fixed assets | 22/27 | €70,047 | €36,077 | -€33,970 | -48.5% |
| Land and buildings | 22 | €51,812 | - | -€51,812 | |
| Plant, machinery and equipment | 23 | €5,197 | €3,698 | -€1,499 | -28.8% |
| Furniture and vehicles | 24 | €13,039 | €27,232 | +€14,193 | +109% |
| Other tangible fixed assets | 26 | - | €5,148 | +€5,148 | |
| Financial fixed assets | 28 | €16,184 | €16,184 | = | 0.0% |
| Current assets | 29/58 | €372,594 | €505,772 | +€133,178 | +35.7% |
| Stocks and contracts in progress | 3 | €180,315 | €164,211 | -€16,104 | -8.9% |
| Stocks | 30/36 | €180,315 | €164,211 | -€16,104 | -8.9% |
| Amounts receivable within one year | 40/41 | €56,847 | €150,087 | +€93,240 | +164% |
| Trade receivables | 40 | €32,131 | €52,029 | +€19,899 | +61.9% |
| Other amounts receivable | 41 | €24,716 | €98,058 | +€73,341 | +297% |
| Cash at bank and in hand | 54/58 | €133,149 | €191,474 | +€58,325 | +43.8% |
| Deferred charges and accrued income | 490/1 | €2,283 | - | -€2,283 | |
| Total equity and liabilities | 10/49 | €458,825 | €558,034 | +€99,208 | +21.6% |
| Equity | 10/15 | €283,872 | €372,346 | +€88,474 | +31.2% |
| Contributions | 10/11 | €9,932 | €9,932 | = | 0.0% |
| Reserves | 13 | €252,712 | €221,958 | -€30,754 | -12.2% |
| Distributable reserves | 133 | €252,712 | €221,958 | -€30,754 | -12.2% |
| Profit (loss) carried forward | 14 | €21,228 | €140,457 | +€119,228 | +562% |
| Amounts payable | 17/49 | €174,954 | €185,688 | +€10,734 | +6.1% |
| Amounts payable after more than one year | 17 | €37,734 | €7,198 | -€30,537 | -80.9% |
| Financial debts | 170/4 | €37,734 | €7,198 | -€30,537 | -80.9% |
| Amounts payable within one year | 42/48 | €137,219 | €168,308 | +€31,088 | +22.7% |
| Current portion of amounts payable after more than one year | 42 | €21,078 | €8,413 | -€12,665 | -60.1% |
| Trade debts | 44 | €7,272 | €53,385 | +€46,113 | +634% |
| Suppliers | 440/4 | €7,272 | €53,385 | +€46,113 | +634% |
| Advances received on contracts in progress | 46 | €1,317 | - | -€1,317 | |
| Taxes, remuneration and social security | 45 | €62,527 | €62,017 | -€511 | -0.8% |
| Taxes | 450/3 | €50,817 | €47,430 | -€3,387 | -6.7% |
| Remuneration and social security | 454/9 | €11,710 | €14,587 | +€2,876 | +24.6% |
| Other amounts payable | 47/48 | €45,026 | €44,494 | -€532 | -1.2% |
| Accrued charges and deferred income | 492/3 | - | €10,183 | +€10,183 | |
| Remuneration, social security and pensions | 62 | €106,808 | €116,229 | +€9,421 | +8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,184 | €11,859 | +€1,675 | +16.5% |
| Other operating charges | 640/8 | €2,621 | €7,326 | +€4,705 | +180% |
| Gross operating margin | 9900 | €91,312 | €301,826 | +€210,514 | +231% |
| Operating profit (loss) | 9901 | -€28,302 | €166,411 | +€194,713 | |
| Financial income | 75/76B | €39 | €391 | +€352 | +909% |
| Recurring financial income | 75 | €39 | €391 | +€352 | +909% |
| Financial charges | 65/66B | €8,226 | €6,000 | -€2,226 | -27.1% |
| Recurring financial charges | 65 | €8,226 | €6,000 | -€2,226 | -27.1% |
| Profit (loss) for the period before taxes | 9903 | -€36,489 | €160,802 | +€197,291 | |
| Income taxes | 67/77 | -€70 | €41,574 | +€41,643 | |
| Profit (loss) for the period | 9904 | -€36,420 | €119,228 | +€155,648 | |
| Profit (loss) for the period to be appropriated | 9905 | -€36,420 | €119,228 | +€155,648 |
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 13 October 2026 via checked.be.