M.A.P.: 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.
M.A.P.
Largest movements
- Stocks and contracts -€42,634
down €42,634 (-18.7%), from €228,299 to €185,665
- Cash -€30,404
down €30,404 (-70.4%), from €43,187 to €12,783
mainly Other debts (-€102,697) and Trade debts (-€6,186)
- Receivables within one year -€26,510
down €26,510 (-28.4%), from €93,326 to €66,816
of which Trade receivables: -€34,957
- Tangible fixed assets -€11,357
down €11,357 (-24.1%), from €47,050 to €35,694
of which Other tangible fixed assets: -€9,660
- Other debts -€102,697
no longer reported in 2024 (was €102,697)
- Trade debts -€6,186
down €6,186 (-9.8%), from €63,184 to €56,998
- Gross operating margin +€162,341
up €162,341 (+125%), from €130,055 to €292,396
- Staff costs +€29,987
up €29,987 (+12.8%), from €234,547 to €264,534
- Other operating charges +€10,759
up €10,759 (+182%), from €5,905 to €16,664
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €427,204 | €319,133 | -€108,071 | -25.3% |
| Fixed assets | 21/28 | €47,050 | €35,694 | -€11,357 | -24.1% |
| Tangible fixed assets | 22/27 | €47,050 | €35,694 | -€11,357 | -24.1% |
| Plant, machinery and equipment | 23 | €6,785 | €5,089 | -€1,696 | -25.0% |
| Other tangible fixed assets | 26 | €40,265 | €30,605 | -€9,660 | -24.0% |
| Current assets | 29/58 | €380,153 | €283,439 | -€96,714 | -25.4% |
| Stocks and contracts in progress | 3 | €228,299 | €185,665 | -€42,634 | -18.7% |
| Stocks | 30/36 | €228,299 | €185,665 | -€42,634 | -18.7% |
| Amounts receivable within one year | 40/41 | €93,326 | €66,816 | -€26,510 | -28.4% |
| Trade receivables | 40 | €93,118 | €58,161 | -€34,957 | -37.5% |
| Other amounts receivable | 41 | €208 | €8,655 | +€8,447 | +4,065% |
| Current investments | 50/53 | €1,350 | €1,350 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €43,187 | €12,783 | -€30,404 | -70.4% |
| Deferred charges and accrued income | 490/1 | €13,992 | €16,826 | +€2,834 | +20.3% |
| Total equity and liabilities | 10/49 | €427,204 | €319,133 | -€108,071 | -25.3% |
| Equity | 10/15 | €245,425 | €243,643 | -€1,782 | -0.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €183,425 | €181,643 | -€1,782 | -1.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €177,225 | €175,443 | -€1,782 | -1.0% |
| Amounts payable | 17/49 | €181,778 | €75,490 | -€106,288 | -58.5% |
| Amounts payable within one year | 42/48 | €181,778 | €75,490 | -€106,288 | -58.5% |
| Trade debts | 44 | €63,184 | €56,998 | -€6,186 | -9.8% |
| Suppliers | 440/4 | €63,184 | €56,998 | -€6,186 | -9.8% |
| Taxes, remuneration and social security | 45 | €15,898 | €18,492 | +€2,594 | +16.3% |
| Taxes | 450/3 | €3,771 | €1,190 | -€2,581 | -68.4% |
| Remuneration and social security | 454/9 | €12,127 | €17,301 | +€5,174 | +42.7% |
| Other amounts payable | 47/48 | €102,697 | - | -€102,697 | |
| Remuneration, social security and pensions | 62 | €234,547 | €264,534 | +€29,987 | +12.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,357 | €11,357 | = | 0.0% |
| Other operating charges | 640/8 | €5,905 | €16,664 | +€10,759 | +182% |
| Gross operating margin | 9900 | €130,055 | €292,396 | +€162,341 | +125% |
| Operating profit (loss) | 9901 | -€121,753 | -€158 | +€121,595 | +99.9% |
| Financial income | 75/76B | €8 | €49 | +€41 | +524% |
| Recurring financial income | 75 | €8 | €49 | +€41 | +524% |
| Financial charges | 65/66B | €1,919 | €1,299 | -€621 | -32.3% |
| Recurring financial charges | 65 | €1,919 | €1,299 | -€621 | -32.3% |
| Profit (loss) for the period before taxes | 9903 | -€123,664 | -€1,407 | +€122,257 | +98.9% |
| Income taxes | 67/77 | €815 | €375 | -€440 | -54.0% |
| Profit (loss) for the period | 9904 | -€124,480 | -€1,782 | +€122,697 | +98.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€124,480 | -€1,782 | +€122,697 | +98.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.