MABEL EXPORT: 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.
MABEL EXPORT
Largest movements
- Stocks and contracts +€193,243
new in 2025: €193,243
- Cash -€76,224
down €76,224 (-30.5%), from €250,126 to €173,902
mainly Stocks and contracts (-€193,243) and Contributions, distributions and other (-€38,017)
- Trade debts +€70,099
up €70,099 (+102.7%), from €68,246 to €138,345
- Other debts +€47,519
up €47,519 (+30.6%), from €155,535 to €203,054
- Profit (loss) carried forward +€36,690
up €36,690 (+3.5%), from €1.0m to €1.1m
- Tax, wage and social debts -€29,500
down €29,500 (-95.2%), from €31,000 to €1,500
of which Remuneration and social security: -€31,000
- Gross operating margin -€142,458
down €142,458 (-55.1%), from €258,655 to €116,197
- Taxes +€37,458
new in 2025: €37,458
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 | €1,302,159 | €1,426,967 | +€124,808 | +9.6% |
| Fixed assets | 21/28 | €60,444 | €58,019 | -€2,425 | -4.0% |
| Tangible fixed assets | 22/27 | €7,276 | €4,851 | -€2,425 | -33.3% |
| Land and buildings | 22 | €7,276 | €4,851 | -€2,425 | -33.3% |
| Financial fixed assets | 28 | €53,168 | €53,168 | = | 0.0% |
| Current assets | 29/58 | €1,241,715 | €1,368,948 | +€127,233 | +10.2% |
| Stocks and contracts in progress | 3 | - | €193,243 | +€193,243 | |
| Stocks | 30/36 | - | €193,243 | +€193,243 | |
| Amounts receivable within one year | 40/41 | €991,588 | €1,001,803 | +€10,214 | +1.0% |
| Trade receivables | 40 | €971,941 | €981,469 | +€9,528 | +1.0% |
| Other amounts receivable | 41 | €19,647 | €20,333 | +€686 | +3.5% |
| Cash at bank and in hand | 54/58 | €250,126 | €173,902 | -€76,224 | -30.5% |
| Total equity and liabilities | 10/49 | €1,302,159 | €1,426,967 | +€124,808 | +9.6% |
| Equity | 10/15 | €1,047,378 | €1,084,068 | +€36,690 | +3.5% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,045,518 | €1,082,208 | +€36,690 | +3.5% |
| Amounts payable | 17/49 | €254,781 | €342,899 | +€88,118 | +34.6% |
| Amounts payable within one year | 42/48 | €254,781 | €342,899 | +€88,118 | +34.6% |
| Trade debts | 44 | €68,246 | €138,345 | +€70,099 | +102.7% |
| Suppliers | 440/4 | €68,246 | €138,345 | +€70,099 | +102.7% |
| Taxes, remuneration and social security | 45 | €31,000 | €1,500 | -€29,500 | -95.2% |
| Taxes | 450/3 | - | €1,500 | +€1,500 | |
| Remuneration and social security | 454/9 | €31,000 | - | -€31,000 | |
| Other amounts payable | 47/48 | €155,535 | €203,054 | +€47,519 | +30.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €2,425 | +€2,425 | |
| Other operating charges | 640/8 | €120 | - | -€120 | |
| Gross operating margin | 9900 | €258,655 | €116,197 | -€142,458 | -55.1% |
| Operating profit (loss) | 9901 | €258,535 | €113,772 | -€144,763 | -56.0% |
| Financial charges | 65/66B | €3,214 | €1,607 | -€1,607 | -50.0% |
| Recurring financial charges | 65 | €3,214 | €1,607 | -€1,607 | -50.0% |
| Profit (loss) for the period before taxes | 9903 | €255,322 | €112,165 | -€143,157 | -56.1% |
| Income taxes | 67/77 | - | €37,458 | +€37,458 | |
| Profit (loss) for the period | 9904 | €255,322 | €74,707 | -€180,615 | -70.7% |
| Profit (loss) for the period to be appropriated | 9905 | €255,322 | €74,707 | -€180,615 | -70.7% |
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 10 October 2026 via checked.be.