Ma Passion: 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.
Ma Passion
Largest movements
- Cash +€31,070
up €31,070 (+63.7%), from €48,740 to €79,810
mainly Depreciation (+€44,700) and Net result for the year (+€32,931)
- Tangible fixed assets -€19,059
down €19,059 (-13.2%), from €144,641 to €125,582
of which Land and buildings: -€27,819
- Deferred charges and accrued income +€4,119
up €4,119 (+163%), from €2,524 to €6,644
- Profit (loss) carried forward +€32,931
up €32,931 (+49.6%), from -€66,431 to -€33,500
- Debts after one year -€23,709
down €23,709 (-92.1%), from €25,742 to €2,033
- Tax, wage and social debts +€7,142
up €7,142 (+35.3%), from €20,205 to €27,347
of which Taxes: +€6,104
- Other debts +€2,738
up €2,738 (+2.1%), from €130,620 to €133,358
- Trade debts -€2,689
down €2,689 (-5.4%), from €49,379 to €46,690
- Gross operating margin -€34,494
down €34,494 (-14.8%), from €232,458 to €197,964
- Staff costs -€26,390
down €26,390 (-19.2%), from €137,766 to €111,377
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 | €202,986 | €220,637 | +€17,651 | +8.7% |
| Fixed assets | 21/28 | €144,641 | €125,582 | -€19,059 | -13.2% |
| Tangible fixed assets | 22/27 | €144,641 | €125,582 | -€19,059 | -13.2% |
| Land and buildings | 22 | €88,159 | €60,340 | -€27,819 | -31.6% |
| Plant, machinery and equipment | 23 | €32,240 | €50,941 | +€18,701 | +58.0% |
| Furniture and vehicles | 24 | €18,442 | €8,501 | -€9,941 | -53.9% |
| Other tangible fixed assets | 26 | €5,800 | €5,800 | = | 0.0% |
| Current assets | 29/58 | €58,345 | €95,054 | +€36,709 | +62.9% |
| Stocks and contracts in progress | 3 | €3,852 | €4,630 | +€778 | +20.2% |
| Stocks | 30/36 | €3,852 | €4,630 | +€778 | +20.2% |
| Amounts receivable within one year | 40/41 | €3,229 | €3,971 | +€742 | +23.0% |
| Trade receivables | 40 | €1,846 | €2,685 | +€839 | +45.4% |
| Other amounts receivable | 41 | €1,383 | €1,286 | -€97 | -7.0% |
| Cash at bank and in hand | 54/58 | €48,740 | €79,810 | +€31,070 | +63.7% |
| Deferred charges and accrued income | 490/1 | €2,524 | €6,644 | +€4,119 | +163% |
| Total equity and liabilities | 10/49 | €202,986 | €220,637 | +€17,651 | +8.7% |
| Equity | 10/15 | -€45,431 | -€12,500 | +€32,931 | +72.5% |
| Contributions | 10/11 | €21,000 | €21,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€66,431 | -€33,500 | +€32,931 | +49.6% |
| Amounts payable | 17/49 | €248,417 | €233,137 | -€15,280 | -6.2% |
| Amounts payable after more than one year | 17 | €25,742 | €2,033 | -€23,709 | -92.1% |
| Financial debts | 170/4 | €25,742 | €2,033 | -€23,709 | -92.1% |
| Amounts payable within one year | 42/48 | €222,675 | €231,104 | +€8,429 | +3.8% |
| Current portion of amounts payable after more than one year | 42 | €22,471 | €23,709 | +€1,238 | +5.5% |
| Trade debts | 44 | €49,379 | €46,690 | -€2,689 | -5.4% |
| Suppliers | 440/4 | €49,379 | €46,690 | -€2,689 | -5.4% |
| Taxes, remuneration and social security | 45 | €20,205 | €27,347 | +€7,142 | +35.3% |
| Taxes | 450/3 | €6,905 | €13,008 | +€6,104 | +88.4% |
| Remuneration and social security | 454/9 | €13,300 | €14,339 | +€1,038 | +7.8% |
| Other amounts payable | 47/48 | €130,620 | €133,358 | +€2,738 | +2.1% |
| Remuneration, social security and pensions | 62 | €137,766 | €111,377 | -€26,390 | -19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,761 | €44,700 | -€62 | -0.1% |
| Other operating charges | 640/8 | €3,639 | €3,688 | +€49 | +1.3% |
| Gross operating margin | 9900 | €232,458 | €197,964 | -€34,494 | -14.8% |
| Operating profit (loss) | 9901 | €46,291 | €38,200 | -€8,091 | -17.5% |
| Financial income | 75/76B | €378 | €463 | +€85 | +22.5% |
| Recurring financial income | 75 | €378 | €463 | +€85 | +22.5% |
| Financial charges | 65/66B | €4,448 | €3,384 | -€1,064 | -23.9% |
| Recurring financial charges | 65 | €4,448 | €3,384 | -€1,064 | -23.9% |
| Profit (loss) for the period before taxes | 9903 | €42,221 | €35,279 | -€6,942 | -16.4% |
| Income taxes | 67/77 | €160 | €2,348 | +€2,188 | +1,364% |
| Profit (loss) for the period | 9904 | €42,061 | €32,931 | -€9,130 | -21.7% |
| Profit (loss) for the period to be appropriated | 9905 | €42,061 | €32,931 | -€9,130 | -21.7% |
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 19 October 2026 via checked.be.