MABECO HOLDING: 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.
MABECO HOLDING
Largest movements
- Cash +€199,969
up €199,969 (+405%), from €49,325 to €249,294
mainly Receivables within one year (+€156,970) and Net result for the year (+€128,144)
- Receivables within one year -€156,970
down €156,970 (-31.8%), from €494,268 to €337,298
of which Trade receivables: -€172,589
- Current investments +€70,000
new in 2025: €70,000
- Tangible fixed assets -€37,622
down €37,622 (-3.2%), from €1.2m to €1.1m
- Profit (loss) carried forward +€128,144
up €128,144 (+5.5%), from €2.3m to €2.5m
- Debts after one year -€73,429
down €73,429 (-28.6%), from €257,000 to €183,571
- Accrued charges and deferred income +€51,519
up €51,519 (+12,616%), from €408 to €51,927
- Gross operating margin -€317,610
down €317,610 (-46.8%), from €678,179 to €360,569
- Financial income +€38,849
up €38,849 (+1,282%), from €3,030 to €41,879
- Taxes +€17,232
up €17,232 (+142%), from €12,150 to €29,381
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 | €3,662,519 | €3,738,936 | +€76,417 | +2.1% |
| Fixed assets | 21/28 | €3,114,420 | €3,076,798 | -€37,622 | -1.2% |
| Tangible fixed assets | 22/27 | €1,169,181 | €1,131,559 | -€37,622 | -3.2% |
| Land and buildings | 22 | €1,169,181 | €1,131,559 | -€37,622 | -3.2% |
| Financial fixed assets | 28 | €1,945,239 | €1,945,239 | = | 0.0% |
| Current assets | 29/58 | €548,099 | €662,139 | +€114,039 | +20.8% |
| Amounts receivable within one year | 40/41 | €494,268 | €337,298 | -€156,970 | -31.8% |
| Trade receivables | 40 | €312,602 | €140,013 | -€172,589 | -55.2% |
| Other amounts receivable | 41 | €181,666 | €197,285 | +€15,619 | +8.6% |
| Current investments | 50/53 | - | €70,000 | +€70,000 | |
| Cash at bank and in hand | 54/58 | €49,325 | €249,294 | +€199,969 | +405% |
| Deferred charges and accrued income | 490/1 | €4,507 | €5,547 | +€1,040 | +23.1% |
| Total equity and liabilities | 10/49 | €3,662,519 | €3,738,936 | +€76,417 | +2.1% |
| Equity | 10/15 | €2,739,368 | €2,867,512 | +€128,144 | +4.7% |
| Contributions | 10/11 | €379,000 | €379,000 | = | 0.0% |
| Capital | 10 | €379,000 | €379,000 | = | 0.0% |
| Issued capital | 100 | €379,000 | €379,000 | = | 0.0% |
| Reserves | 13 | €37,900 | €37,900 | = | 0.0% |
| Non-distributable reserves | 130/1 | €37,900 | €37,900 | = | 0.0% |
| Legal reserve | 130 | €37,900 | €37,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,322,468 | €2,450,612 | +€128,144 | +5.5% |
| Provisions and deferred taxes | 16 | €545,660 | €509,694 | -€35,966 | -6.6% |
| Provisions for liabilities and charges | 160/5 | €545,660 | €509,694 | -€35,966 | -6.6% |
| Major repairs and maintenance | 162 | €545,660 | - | -€545,660 | |
| Environmental obligations | 163 | - | €509,694 | +€509,694 | |
| Amounts payable | 17/49 | €377,491 | €361,730 | -€15,761 | -4.2% |
| Amounts payable after more than one year | 17 | €257,000 | €183,571 | -€73,429 | -28.6% |
| Financial debts | 170/4 | €257,000 | €183,571 | -€73,429 | -28.6% |
| Amounts payable within one year | 42/48 | €120,082 | €126,231 | +€6,149 | +5.1% |
| Current portion of amounts payable after more than one year | 42 | €73,429 | €73,429 | = | 0.0% |
| Trade debts | 44 | €25,265 | €4,379 | -€20,886 | -82.7% |
| Suppliers | 440/4 | €25,265 | €4,379 | -€20,886 | -82.7% |
| Taxes, remuneration and social security | 45 | €21,389 | €37,602 | +€16,213 | +75.8% |
| Taxes | 450/3 | €21,389 | €37,602 | +€16,213 | +75.8% |
| Other amounts payable | 47/48 | - | €10,822 | +€10,822 | |
| Accrued charges and deferred income | 492/3 | €408 | €51,927 | +€51,519 | +12,616% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,622 | €37,622 | = | 0.0% |
| Other operating charges | 640/8 | €15,820 | €16,317 | +€497 | +3.1% |
| Gross operating margin | 9900 | €678,179 | €360,569 | -€317,610 | -46.8% |
| Operating profit (loss) | 9901 | €624,738 | €306,631 | -€318,107 | -50.9% |
| Financial income | 75/76B | €3,030 | €41,879 | +€38,849 | +1,282% |
| Recurring financial income | 75 | €3,030 | €41,879 | +€38,849 | +1,282% |
| Financial charges | 65/66B | €190,109 | €190,984 | +€876 | +0.5% |
| Recurring financial charges | 65 | €34,755 | €25,146 | -€9,609 | -27.6% |
| Non-recurring financial charges | 66B | €155,353 | €165,838 | +€10,485 | +6.7% |
| Profit (loss) for the period before taxes | 9903 | €437,659 | €157,525 | -€280,134 | -64.0% |
| Income taxes | 67/77 | €12,150 | €29,381 | +€17,232 | +142% |
| Profit (loss) for the period | 9904 | €425,509 | €128,144 | -€297,365 | -69.9% |
| Profit (loss) for the period to be appropriated | 9905 | €425,509 | €128,144 | -€297,365 | -69.9% |
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 30 October 2026 via checked.be.