LA MAPALU: what changed
Two fiscal 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.
LA MAPALU
Largest movements
- Receivables within one year -€45,869
down €45,869 (-99.4%), from €46,156 to €287
of which Trade receivables: -€36,603
- Cash +€5,414
up €5,414 (+8555.9%), from €63 to €5,477
mainly Debts after one year (+€1.2m) and Accrued charges and deferred income (+€49,225)
- Deferred charges and accrued income +€742
new in 2025: €742
- Debts after one year +€1.2m
new in 2025: €1.2m
- Short-term financial debts -€1.2m
no longer reported in 2025 (was €1.2m)
- Trade debts -€65,427
down €65,427 (-98.4%), from €66,482 to €1,054
- Profit (loss) carried forward -€63,611
down €63,611 (-4.8%), from -€1.3m to -€1.4m
- Accrued charges and deferred income +€49,225
up €49,225 (+49.3%), from €99,892 to €149,117
- Gross operating margin -€6,684
down €6,684 (-97.2%), from -€6,876 to -€13,560
- Financial income -€2,318
down €2,318 (-100.0%), from €2,318 to €0
- Financial charges +€727
up €727 (+1.5%), from €48,804 to €49,531
- Other operating charges +€260
up €260 (+100.0%), from €260 to €520
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 | €46,219 | €6,506 | -€39,713 | -85.9% |
| Current assets | 29/58 | €46,219 | €6,506 | -€39,713 | -85.9% |
| Amounts receivable within one year | 40/41 | €46,156 | €287 | -€45,869 | -99.4% |
| Trade receivables | 40 | €36,603 | - | -€36,603 | |
| Other amounts receivable | 41 | €9,553 | €287 | -€9,266 | -97.0% |
| Cash at bank and in hand | 54/58 | €63 | €5,477 | +€5,414 | +8555.9% |
| Deferred charges and accrued income | 490/1 | - | €742 | +€742 | |
| Total equity and liabilities | 10/49 | €46,219 | €6,506 | -€39,713 | -85.9% |
| Equity | 10/15 | -€1,319,766 | -€1,383,376 | -€63,611 | -4.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,338,366 | -€1,401,976 | -€63,611 | -4.8% |
| Amounts payable | 17/49 | €1,365,985 | €1,389,883 | +€23,898 | +1.7% |
| Amounts payable after more than one year | 17 | - | €1,239,711 | +€1.2m | |
| Financial debts | 170/4 | - | €1,239,711 | +€1.2m | |
| Amounts payable within one year | 42/48 | €1,266,093 | €1,054 | -€1.3m | -99.9% |
| Financial debts | 43 | €1,199,611 | - | -€1.2m | |
| Other loans | 439 | €1,199,611 | - | -€1.2m | |
| Trade debts | 44 | €66,482 | €1,054 | -€65,427 | -98.4% |
| Suppliers | 440/4 | €66,482 | €1,054 | -€65,427 | -98.4% |
| Accrued charges and deferred income | 492/3 | €99,892 | €149,117 | +€49,225 | +49.3% |
| Other operating charges | 640/8 | €260 | €520 | +€260 | +100.0% |
| Non-recurring operating charges | 66A | €36,961 | - | -€36,961 | |
| Gross operating margin | 9900 | -€6,876 | -€13,560 | -€6,684 | -97.2% |
| Operating profit (loss) | 9901 | -€44,097 | -€14,080 | +€30,017 | +68.1% |
| Financial income | 75/76B | €2,318 | €0 | -€2,318 | -100.0% |
| Recurring financial income | 75 | €2,318 | €0 | -€2,318 | -100.0% |
| Financial charges | 65/66B | €48,804 | €49,531 | +€727 | +1.5% |
| Recurring financial charges | 65 | €48,804 | €49,531 | +€727 | +1.5% |
| Profit (loss) for the period before taxes | 9903 | -€90,582 | -€63,611 | +€26,972 | +29.8% |
| Profit (loss) for the period | 9904 | -€90,582 | -€63,611 | +€26,972 | +29.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€90,582 | -€63,611 | +€26,972 | +29.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.