MABELO: 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.
MABELO
Largest movements
- Receivables within one year +€25,609
up €25,609 (+119%), from €21,494 to €47,102
of which Other amounts receivable: +€19,083
- Deferred charges and accrued income -€1,910
down €1,910 (-100%), from €1,910 to €0
- Intangible fixed assets -€675
down €675 (-41.5%), from €1,628 to €953
- Debts after one year +€38,384
up €38,384, from €0 to €38,384
- Profit (loss) carried forward +€25,965
up €25,965 (+51.9%), from -€50,002 to -€24,037
- Short-term financial debts -€22,058
down €22,058 (-78.6%), from €28,063 to €6,005
of which Other loans: -€11,695
- Tax, wage and social debts -€12,248
down €12,248 (-66.5%), from €18,420 to €6,172
- Other debts -€9,110
down €9,110 (-32.3%), from €28,245 to €19,134
- Gross operating margin +€25,840
up €25,840 (+224%), from €11,524 to €37,364
- Financial charges -€4,653
down €4,653 (-40.5%), from €11,480 to €6,828
- Other operating charges -€1,382
down €1,382 (-35.0%), from €3,952 to €2,571
- Taxes +€1,192
up €1,192 (+1,744%), from €68 to €1,261
- Financial income +€843
up €843 (+210%), from €402 to €1,245
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €33,843 | €56,937 | +€23,094 | +68.2% |
| Fixed assets | 21/28 | €10,439 | €9,835 | -€604 | -5.8% |
| Intangible fixed assets | 21 | €1,628 | €953 | -€675 | -41.5% |
| Tangible fixed assets | 22/27 | €3,061 | €3,132 | +€71 | +2.3% |
| Plant, machinery and equipment | 23 | €2,851 | €1,769 | -€1,082 | -37.9% |
| Furniture and vehicles | 24 | €210 | €1,363 | +€1,153 | +549% |
| Financial fixed assets | 28 | €5,750 | €5,750 | = | 0.0% |
| Current assets | 29/58 | €23,404 | €47,102 | +€23,699 | +101% |
| Amounts receivable within one year | 40/41 | €21,494 | €47,102 | +€25,609 | +119% |
| Trade receivables | 40 | €513 | €7,038 | +€6,525 | +1,273% |
| Other amounts receivable | 41 | €20,981 | €40,064 | +€19,083 | +91.0% |
| Deferred charges and accrued income | 490/1 | €1,910 | €0 | -€1,910 | -100% |
| Total equity and liabilities | 10/49 | €33,843 | €56,937 | +€23,094 | +68.2% |
| Equity | 10/15 | -€49,002 | -€23,037 | +€25,965 | +53.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€50,002 | -€24,037 | +€25,965 | +51.9% |
| Amounts payable | 17/49 | €82,845 | €79,974 | -€2,871 | -3.5% |
| Amounts payable after more than one year | 17 | €0 | €38,384 | +€38,384 | |
| Financial debts | 170/4 | €0 | €38,384 | +€38,384 | |
| Amounts payable within one year | 42/48 | €82,845 | €41,590 | -€41,255 | -49.8% |
| Current portion of amounts payable after more than one year | 42 | €2,955 | €6,931 | +€3,976 | +135% |
| Financial debts | 43 | €28,063 | €6,005 | -€22,058 | -78.6% |
| Credit institutions | 430/8 | €16,368 | €6,005 | -€10,363 | -63.3% |
| Other loans | 439 | €11,695 | €0 | -€11,695 | -100% |
| Trade debts | 44 | €5,162 | €3,348 | -€1,814 | -35.1% |
| Suppliers | 440/4 | €5,162 | €3,348 | -€1,814 | -35.1% |
| Taxes, remuneration and social security | 45 | €18,420 | €6,172 | -€12,248 | -66.5% |
| Taxes | 450/3 | €18,420 | €6,172 | -€12,248 | -66.5% |
| Other amounts payable | 47/48 | €28,245 | €19,134 | -€9,110 | -32.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,455 | €1,985 | -€470 | -19.1% |
| Other operating charges | 640/8 | €3,952 | €2,571 | -€1,382 | -35.0% |
| Gross operating margin | 9900 | €11,524 | €37,364 | +€25,840 | +224% |
| Operating profit (loss) | 9901 | €5,117 | €32,809 | +€27,691 | +541% |
| Financial income | 75/76B | €402 | €1,245 | +€843 | +210% |
| Recurring financial income | 75 | €402 | €1,245 | +€843 | +210% |
| Financial charges | 65/66B | €11,480 | €6,828 | -€4,653 | -40.5% |
| Recurring financial charges | 65 | €11,480 | €6,828 | -€4,653 | -40.5% |
| Profit (loss) for the period before taxes | 9903 | -€5,961 | €27,226 | +€33,187 | |
| Income taxes | 67/77 | €68 | €1,261 | +€1,192 | +1,744% |
| Profit (loss) for the period | 9904 | -€6,030 | €25,965 | +€31,995 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,030 | €25,965 | +€31,995 |
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 13 October 2026 via checked.be.