M.A.B.: 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.
M.A.B.
Largest movements
- Cash -€10,621
down €10,621 (-28.8%), from €36,918 to €26,296
mainly Debts after one year (-€12,980) and Trade debts (-€3,880)
- Tangible fixed assets -€8,474
down €8,474 (-3.6%), from €238,590 to €230,116
- Debts after one year -€12,980
down €12,980 (-99.2%), from €13,087 to €107
- Trade debts -€3,880
down €3,880 (-90.7%), from €4,279 to €400
- Other debts -€3,746
down €3,746 (-3.5%), from €106,194 to €102,448
- Gross operating margin +€5,624
up €5,624 (+95.4%), from €5,896 to €11,520
- Depreciation -€626
down €626 (-6.9%), from €9,101 to €8,474
- Financial income +€282
up €282 (+8.2%), from €3,430 to €3,713
of which Financial income: +€151
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 | €276,370 | €257,314 | -€19,056 | -6.9% |
| Fixed assets | 21/28 | €238,590 | €230,116 | -€8,474 | -3.6% |
| Tangible fixed assets | 22/27 | €238,590 | €230,116 | -€8,474 | -3.6% |
| Land and buildings | 22 | €238,590 | €230,116 | -€8,474 | -3.6% |
| Current assets | 29/58 | €37,779 | €27,198 | -€10,581 | -28.0% |
| Amounts receivable within one year | 40/41 | €9 | €9 | = | 0.0% |
| Trade receivables | 40 | €9 | €9 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €36,918 | €26,296 | -€10,621 | -28.8% |
| Deferred charges and accrued income | 490/1 | €853 | €893 | +€40 | +4.7% |
| Total equity and liabilities | 10/49 | €276,370 | €257,314 | -€19,056 | -6.9% |
| Equity | 10/15 | €152,143 | €153,757 | +€1,614 | +1.1% |
| Contributions | 10/11 | €167,500 | €167,500 | = | 0.0% |
| Capital | 10 | €167,500 | €167,500 | = | 0.0% |
| Issued capital | 100 | €167,500 | €167,500 | = | 0.0% |
| Reserves | 13 | €3,234 | €3,234 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,000 | €3,000 | = | 0.0% |
| Legal reserve | 130 | €3,000 | €3,000 | = | 0.0% |
| Distributable reserves | 133 | €234 | €234 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,591 | -€16,977 | +€1,614 | +8.7% |
| Amounts payable | 17/49 | €124,227 | €103,558 | -€20,669 | -16.6% |
| Amounts payable after more than one year | 17 | €13,087 | €107 | -€12,980 | -99.2% |
| Financial debts | 170/4 | €13,087 | €107 | -€12,980 | -99.2% |
| Amounts payable within one year | 42/48 | €111,140 | €103,450 | -€7,689 | -6.9% |
| Trade debts | 44 | €4,279 | €400 | -€3,880 | -90.7% |
| Suppliers | 440/4 | €4,279 | €400 | -€3,880 | -90.7% |
| Taxes, remuneration and social security | 45 | €667 | €602 | -€64 | -9.7% |
| Taxes | 450/3 | €667 | €602 | -€64 | -9.7% |
| Other amounts payable | 47/48 | €106,194 | €102,448 | -€3,746 | -3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,101 | €8,474 | -€626 | -6.9% |
| Other operating charges | 640/8 | €4,570 | €4,672 | +€102 | +2.2% |
| Gross operating margin | 9900 | €5,896 | €11,520 | +€5,624 | +95.4% |
| Operating profit (loss) | 9901 | -€7,775 | -€1,626 | +€6,148 | +79.1% |
| Financial income | 75/76B | €3,430 | €3,713 | +€282 | +8.2% |
| Recurring financial income | 75 | €126 | €278 | +€151 | +119.5% |
| Non-recurring financial income | 76B | €3,304 | €3,435 | +€131 | +4.0% |
| Financial charges | 65/66B | €115 | €112 | -€4 | -3.2% |
| Recurring financial charges | 65 | €115 | €112 | -€4 | -3.2% |
| Profit (loss) for the period before taxes | 9903 | -€4,460 | €1,975 | +€6,435 | |
| Income taxes | 67/77 | €357 | €361 | +€5 | +1.3% |
| Profit (loss) for the period | 9904 | -€4,816 | €1,614 | +€6,430 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,816 | €1,614 | +€6,430 |
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 3 October 2026 via checked.be.