Mabeco: 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.
Mabeco
Largest movements
- Tangible fixed assets -€62,589
down €62,589 (-3.5%), from €1.8m to €1.7m
of which Land and buildings: -€41,048
- Receivables after one year -€60,779
no longer reported in 2025 (was €60,779)
- Receivables within one year -€34,748
down €34,748 (-32.0%), from €108,633 to €73,886
of which Trade receivables: -€23,000
- Current investments +€29,267
new in 2025: €29,267
- Cash +€24,728
up €24,728 (+135.2%), from €18,287 to €43,014
mainly Depreciation (+€104,404) and Receivables after one year (+€60,779)
- Debts after one year -€85,997
down €85,997 (-6.6%), from €1.3m to €1.2m
- Reserves -€57,874
down €57,874 (-12.3%), from €471,586 to €413,712
- Other debts +€22,857
up €22,857 (+49.2%), from €46,504 to €69,361
- Gross operating margin -€56,568
down €56,568 (-23.5%), from €241,066 to €184,498
- Taxes -€19,342
down €19,342 (-63.3%), from €30,545 to €11,203
- Financial income -€5,249
down €5,249 (-87.5%), from €5,998 to €749
- Depreciation +€4,789
up €4,789 (+4.8%), from €99,615 to €104,404
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 | €1,970,184 | €1,865,087 | -€105,097 | -5.3% |
| Fixed assets | 21/28 | €1,778,167 | €1,715,578 | -€62,589 | -3.5% |
| Tangible fixed assets | 22/27 | €1,778,167 | €1,715,578 | -€62,589 | -3.5% |
| Land and buildings | 22 | €1,740,769 | €1,699,721 | -€41,048 | -2.4% |
| Plant, machinery and equipment | 23 | €980 | €189 | -€792 | -80.8% |
| Furniture and vehicles | 24 | €29,861 | €10,171 | -€19,690 | -65.9% |
| Other tangible fixed assets | 26 | €6,557 | €5,497 | -€1,060 | -16.2% |
| Current assets | 29/58 | €192,017 | €149,509 | -€42,508 | -22.1% |
| Amounts receivable after more than one year | 29 | €60,779 | - | -€60,779 | |
| Other amounts receivable | 291 | €60,779 | - | -€60,779 | |
| Amounts receivable within one year | 40/41 | €108,633 | €73,886 | -€34,748 | -32.0% |
| Trade receivables | 40 | €78,000 | €55,000 | -€23,000 | -29.5% |
| Other amounts receivable | 41 | €30,633 | €18,886 | -€11,748 | -38.3% |
| Current investments | 50/53 | - | €29,267 | +€29,267 | |
| Cash at bank and in hand | 54/58 | €18,287 | €43,014 | +€24,728 | +135.2% |
| Deferred charges and accrued income | 490/1 | €4,318 | €3,342 | -€976 | -22.6% |
| Total equity and liabilities | 10/49 | €1,970,184 | €1,865,087 | -€105,097 | -5.3% |
| Equity | 10/15 | €477,786 | €419,912 | -€57,874 | -12.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €471,586 | €413,712 | -€57,874 | -12.3% |
| Distributable reserves | 133 | €471,586 | €413,712 | -€57,874 | -12.3% |
| Amounts payable | 17/49 | €1,492,397 | €1,445,174 | -€47,223 | -3.2% |
| Amounts payable after more than one year | 17 | €1,306,778 | €1,220,781 | -€85,997 | -6.6% |
| Financial debts | 170/4 | €1,306,778 | €1,220,781 | -€85,997 | -6.6% |
| Amounts payable within one year | 42/48 | €181,068 | €214,241 | +€33,173 | +18.3% |
| Current portion of amounts payable after more than one year | 42 | €102,644 | €94,403 | -€8,241 | -8.0% |
| Trade debts | 44 | €1,458 | €16,475 | +€15,017 | +1030.2% |
| Suppliers | 440/4 | €1,458 | €16,475 | +€15,017 | +1030.2% |
| Taxes, remuneration and social security | 45 | €30,462 | €34,002 | +€3,540 | +11.6% |
| Taxes | 450/3 | €30,462 | €30,462 | = | 0.0% |
| Remuneration and social security | 454/9 | - | €3,540 | +€3,540 | |
| Other amounts payable | 47/48 | €46,504 | €69,361 | +€22,857 | +49.2% |
| Accrued charges and deferred income | 492/3 | €4,551 | €10,152 | +€5,601 | +123.1% |
| Non-recurring operating income | 76A | €349,351 | - | -€349,351 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €99,615 | €104,404 | +€4,789 | +4.8% |
| Other operating charges | 640/8 | €6,543 | €4,200 | -€2,343 | -35.8% |
| Gross operating margin | 9900 | €241,066 | €184,498 | -€56,568 | -23.5% |
| Operating profit (loss) | 9901 | €134,908 | €75,894 | -€59,014 | -43.7% |
| Financial income | 75/76B | €5,998 | €749 | -€5,249 | -87.5% |
| Recurring financial income | 75 | €5,998 | €749 | -€5,249 | -87.5% |
| Financial charges | 65/66B | €44,907 | €43,715 | -€1,191 | -2.7% |
| Recurring financial charges | 65 | €44,907 | €43,715 | -€1,191 | -2.7% |
| Profit (loss) for the period before taxes | 9903 | €95,999 | €32,928 | -€63,071 | -65.7% |
| Income taxes | 67/77 | €30,545 | €11,203 | -€19,342 | -63.3% |
| Profit (loss) for the period | 9904 | €65,454 | €21,725 | -€43,729 | -66.8% |
| Profit (loss) for the period to be appropriated | 9905 | €65,454 | €21,725 | -€43,729 | -66.8% |
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 8 October 2026 via checked.be.