Ma Dorinza: what changed
Ma Dorinza
Largest movements
- Receivables within one year +€151,784
up €151,784 (+98.5%), from €154,129 to €305,913
of which Other amounts receivable: +€151,143
- Deferred charges and accrued income -€84,381
down €84,381 (-44.9%), from €187,919 to €103,538
- Current investments +€80,933
new in 2026: €80,933
- Tangible fixed assets +€55,300
up €55,300 (+41.6%), from €132,970 to €188,270
of which Furniture and vehicles: +€59,495
- Cash -€25,504
down €25,504 (-4.7%), from €543,685 to €518,182
mainly Contributions, distributions and other (-€214,834) and Receivables within one year (-€151,784)
- Reserves +€141,699
up €141,699 (+15.4%), from €920,351 to €1.1m
- Other debts +€97,530
up €97,530 (+5,273%), from €1,850 to €99,379
- Tax, wage and social debts -€57,477
down €57,477 (-65.4%), from €87,826 to €30,349
- Gross operating margin -€25,163
down €25,163 (-4.3%), from €579,476 to €554,313
- Taxes -€12,239
down €12,239 (-7.1%), from €173,120 to €160,881
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,019,848 | €1,197,979 | +€178,132 | +17.5% |
| Fixed assets | 21/28 | €134,114 | €189,415 | +€55,300 | +41.2% |
| Tangible fixed assets | 22/27 | €132,970 | €188,270 | +€55,300 | +41.6% |
| Plant, machinery and equipment | 23 | €3,085 | €4,333 | +€1,248 | +40.5% |
| Furniture and vehicles | 24 | €79,689 | €139,183 | +€59,495 | +74.7% |
| Other tangible fixed assets | 26 | €50,196 | €44,754 | -€5,443 | -10.8% |
| Financial fixed assets | 28 | €1,144 | €1,144 | = | 0.0% |
| Current assets | 29/58 | €885,733 | €1,008,565 | +€122,832 | +13.9% |
| Amounts receivable within one year | 40/41 | €154,129 | €305,913 | +€151,784 | +98.5% |
| Trade receivables | 40 | - | €641 | +€641 | |
| Other amounts receivable | 41 | €154,129 | €305,272 | +€151,143 | +98.1% |
| Current investments | 50/53 | - | €80,933 | +€80,933 | |
| Cash at bank and in hand | 54/58 | €543,685 | €518,182 | -€25,504 | -4.7% |
| Deferred charges and accrued income | 490/1 | €187,919 | €103,538 | -€84,381 | -44.9% |
| Total equity and liabilities | 10/49 | €1,019,848 | €1,197,979 | +€178,132 | +17.5% |
| Equity | 10/15 | €926,551 | €1,068,251 | +€141,699 | +15.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €920,351 | €1,062,051 | +€141,699 | +15.4% |
| Distributable reserves | 133 | €920,351 | €1,062,051 | +€141,699 | +15.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €93,296 | €129,729 | +€36,432 | +39.1% |
| Amounts payable within one year | 42/48 | €93,296 | €129,729 | +€36,432 | +39.1% |
| Trade debts | 44 | €3,621 | €0 | -€3,621 | -100% |
| Suppliers | 440/4 | €3,621 | €0 | -€3,621 | -100% |
| Taxes, remuneration and social security | 45 | €87,826 | €30,349 | -€57,477 | -65.4% |
| Taxes | 450/3 | €87,826 | €30,349 | -€57,477 | -65.4% |
| Other amounts payable | 47/48 | €1,850 | €99,379 | +€97,530 | +5,273% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,608 | €36,162 | +€3,554 | +10.9% |
| Other operating charges | 640/8 | €5,500 | €1,413 | -€4,087 | -74.3% |
| Gross operating margin | 9900 | €579,476 | €554,313 | -€25,163 | -4.3% |
| Operating profit (loss) | 9901 | €541,369 | €516,738 | -€24,631 | -4.5% |
| Financial income | 75/76B | €986 | €1,772 | +€786 | +79.6% |
| Recurring financial income | 75 | €986 | €1,772 | +€786 | +79.6% |
| Financial charges | 65/66B | €1,042 | €1,095 | +€53 | +5.1% |
| Recurring financial charges | 65 | €1,042 | €1,095 | +€53 | +5.1% |
| Profit (loss) for the period before taxes | 9903 | €541,313 | €517,415 | -€23,898 | -4.4% |
| Income taxes | 67/77 | €173,120 | €160,881 | -€12,239 | -7.1% |
| Profit (loss) for the period | 9904 | €368,193 | €356,534 | -€11,659 | -3.2% |
| Profit (loss) for the period to be appropriated | 9905 | €368,193 | €356,534 | -€11,659 | -3.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.