MABE INVEST: what changed
MABE INVEST
Largest movements
- Receivables after one year -€236,023
down €236,023 (-50.3%), from €468,821 to €232,798
- Stocks and contracts +€220,897
up €220,897 (+98.6%), from €224,133 to €445,030
- Tangible fixed assets -€38,500
down €38,500 (-4.3%), from €889,199 to €850,699
of which Land and buildings: -€35,670
- Cash -€34,297
down €34,297 (-70.4%), from €48,697 to €14,400
mainly Stocks and contracts (-€220,897) and Tax, wage and social debts (-€93,553)
- Deferred charges and accrued income +€31,305
up €31,305 (+437%), from €7,160 to €38,465
- Other debts +€127,785
up €127,785 (+297%), from €43,087 to €170,872
- Tax, wage and social debts -€93,553
down €93,553 (-51.4%), from €182,122 to €88,570
- Debts after one year -€79,605
down €79,605 (-11.9%), from €667,812 to €588,206
- Reserves -€38,684
down €38,684 (-5.2%), from €749,198 to €710,514
of which Distributable reserves: -€38,684
- Gross operating margin -€427,986
down €427,986 (-88.4%), from €483,934 to €55,948
- Taxes -€112,056
down €112,056 (-99.9%), from €112,180 to €124
- Financial charges +€13,478
up €13,478 (+72.6%), from €18,555 to €32,033
- Depreciation +€6,986
up €6,986 (+22.2%), from €31,514 to €38,500
Change in the result, 2024 to 2025
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 2024 and 2025 balance sheets and the 2025 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 | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,728,369 | €1,649,769 | -€78,600 | -4.5% |
| Fixed assets | 21/28 | €947,098 | €908,599 | -€38,500 | -4.1% |
| Tangible fixed assets | 22/27 | €889,199 | €850,699 | -€38,500 | -4.3% |
| Land and buildings | 22 | €814,081 | €778,412 | -€35,670 | -4.4% |
| Plant, machinery and equipment | 23 | €66,932 | €65,831 | -€1,101 | -1.6% |
| Furniture and vehicles | 24 | €8,186 | €6,457 | -€1,729 | -21.1% |
| Financial fixed assets | 28 | €57,900 | €57,900 | = | 0.0% |
| Current assets | 29/58 | €781,270 | €741,170 | -€40,100 | -5.1% |
| Amounts receivable after more than one year | 29 | €468,821 | €232,798 | -€236,023 | -50.3% |
| Other amounts receivable | 291 | €468,821 | €232,798 | -€236,023 | -50.3% |
| Stocks and contracts in progress | 3 | €224,133 | €445,030 | +€220,897 | +98.6% |
| Stocks | 30/36 | €224,133 | €445,030 | +€220,897 | +98.6% |
| Amounts receivable within one year | 40/41 | €32,458 | €10,477 | -€21,981 | -67.7% |
| Trade receivables | 40 | €7,458 | €2,977 | -€4,481 | -60.1% |
| Other amounts receivable | 41 | €25,000 | €7,500 | -€17,500 | -70.0% |
| Cash at bank and in hand | 54/58 | €48,697 | €14,400 | -€34,297 | -70.4% |
| Deferred charges and accrued income | 490/1 | €7,160 | €38,465 | +€31,305 | +437% |
| Total equity and liabilities | 10/49 | €1,728,369 | €1,649,769 | -€78,600 | -4.5% |
| Equity | 10/15 | €749,198 | €715,514 | -€33,684 | -4.5% |
| Contributions | 10/11 | - | €5,000 | +€5,000 | |
| Reserves | 13 | €749,198 | €710,514 | -€38,684 | -5.2% |
| Tax-exempt reserves | 132 | €371 | €371 | = | 0.0% |
| Distributable reserves | 133 | €748,827 | €710,143 | -€38,684 | -5.2% |
| Amounts payable | 17/49 | €979,170 | €934,254 | -€44,916 | -4.6% |
| Amounts payable after more than one year | 17 | €667,812 | €588,206 | -€79,605 | -11.9% |
| Financial debts | 170/4 | €667,812 | €588,206 | -€79,605 | -11.9% |
| Amounts payable within one year | 42/48 | €311,359 | €346,048 | +€34,690 | +11.1% |
| Current portion of amounts payable after more than one year | 42 | €78,922 | €79,605 | +€684 | +0.9% |
| Trade debts | 44 | €7,227 | €7,001 | -€226 | -3.1% |
| Suppliers | 440/4 | €7,227 | €7,001 | -€226 | -3.1% |
| Taxes, remuneration and social security | 45 | €182,122 | €88,570 | -€93,553 | -51.4% |
| Taxes | 450/3 | €182,122 | €88,570 | -€93,553 | -51.4% |
| Other amounts payable | 47/48 | €43,087 | €170,872 | +€127,785 | +297% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,514 | €38,500 | +€6,986 | +22.2% |
| Other operating charges | 640/8 | €18,683 | €17,991 | -€692 | -3.7% |
| Non-recurring operating charges | 66A | - | €13,000 | +€13,000 | |
| Gross operating margin | 9900 | €483,934 | €55,948 | -€427,986 | -88.4% |
| Operating profit (loss) | 9901 | €433,737 | -€13,543 | -€447,281 | |
| Financial income | 75/76B | €6,336 | €7,016 | +€680 | +10.7% |
| Recurring financial income | 75 | €6,336 | €7,016 | +€680 | +10.7% |
| Financial charges | 65/66B | €18,555 | €32,033 | +€13,478 | +72.6% |
| Recurring financial charges | 65 | €18,555 | €32,033 | +€13,478 | +72.6% |
| Profit (loss) for the period before taxes | 9903 | €421,519 | -€38,560 | -€460,079 | |
| Income taxes | 67/77 | €112,180 | €124 | -€112,056 | -99.9% |
| Profit (loss) for the period | 9904 | €309,339 | -€38,684 | -€348,024 | |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €309,339 | -€38,684 | -€348,024 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.