MABESEM: 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.
MABESEM
Largest movements
- Cash +€190,527
up €190,527 (+157.5%), from €120,955 to €311,481
mainly Net result for the year (+€154,259) and Receivables within one year (+€41,003)
- Receivables within one year -€41,003
down €41,003 (-30.7%), from €133,613 to €92,610
of which Other amounts receivable: -€47,975
- Tangible fixed assets -€8,948
down €8,948 (-20.5%), from €43,736 to €34,789
- Reserves +€154,259
up €154,259 (+95.8%), from €161,098 to €315,357
- Other debts -€16,127
down €16,127 (-15.1%), from €106,778 to €90,651
- Gross operating margin +€147,456
up €147,456 (+97.4%), from €151,358 to €298,814
- Other operating charges +€56,868
up €56,868 (+1246.0%), from €4,564 to €61,432
- Taxes +€27,349
up €27,349 (+58.5%), from €46,728 to €74,078
- Depreciation +€7,945
up €7,945 (+792.7%), from €1,002 to €8,948
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 | €312,783 | €453,401 | +€140,617 | +45.0% |
| Fixed assets | 21/28 | €56,236 | €47,289 | -€8,948 | -15.9% |
| Tangible fixed assets | 22/27 | €43,736 | €34,789 | -€8,948 | -20.5% |
| Furniture and vehicles | 24 | €43,736 | €34,789 | -€8,948 | -20.5% |
| Financial fixed assets | 28 | €12,500 | €12,500 | = | 0.0% |
| Current assets | 29/58 | €256,547 | €406,112 | +€149,565 | +58.3% |
| Amounts receivable within one year | 40/41 | €133,613 | €92,610 | -€41,003 | -30.7% |
| Trade receivables | 40 | €1,210 | €8,182 | +€6,972 | +576.2% |
| Other amounts receivable | 41 | €132,403 | €84,428 | -€47,975 | -36.2% |
| Cash at bank and in hand | 54/58 | €120,955 | €311,481 | +€190,527 | +157.5% |
| Deferred charges and accrued income | 490/1 | €1,979 | €2,020 | +€41 | +2.1% |
| Total equity and liabilities | 10/49 | €312,783 | €453,401 | +€140,617 | +45.0% |
| Equity | 10/15 | €191,098 | €345,357 | +€154,259 | +80.7% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €161,098 | €315,357 | +€154,259 | +95.8% |
| Distributable reserves | 133 | €161,098 | €315,357 | +€154,259 | +95.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €121,685 | €108,043 | -€13,642 | -11.2% |
| Amounts payable within one year | 42/48 | €121,657 | €107,998 | -€13,659 | -11.2% |
| Trade debts | 44 | €3,001 | €1,835 | -€1,166 | -38.8% |
| Suppliers | 440/4 | €3,001 | €1,835 | -€1,166 | -38.8% |
| Taxes, remuneration and social security | 45 | €11,878 | €15,511 | +€3,633 | +30.6% |
| Taxes | 450/3 | €11,878 | €15,511 | +€3,633 | +30.6% |
| Other amounts payable | 47/48 | €106,778 | €90,651 | -€16,127 | -15.1% |
| Accrued charges and deferred income | 492/3 | €28 | €46 | +€17 | +60.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,002 | €8,948 | +€7,945 | +792.7% |
| Other operating charges | 640/8 | €4,564 | €61,432 | +€56,868 | +1246.0% |
| Gross operating margin | 9900 | €151,358 | €298,814 | +€147,456 | +97.4% |
| Operating profit (loss) | 9901 | €145,792 | €228,434 | +€82,643 | +56.7% |
| Financial income | 75/76B | €333 | €230 | -€102 | -30.8% |
| Recurring financial income | 75 | €333 | €230 | -€102 | -30.8% |
| Financial charges | 65/66B | €237 | €327 | +€90 | +37.9% |
| Recurring financial charges | 65 | €237 | €327 | +€90 | +37.9% |
| Profit (loss) for the period before taxes | 9903 | €145,887 | €228,337 | +€82,450 | +56.5% |
| Income taxes | 67/77 | €46,728 | €74,078 | +€27,349 | +58.5% |
| Profit (loss) for the period | 9904 | €99,159 | €154,259 | +€55,101 | +55.6% |
| Profit (loss) for the period to be appropriated | 9905 | €99,159 | €154,259 | +€55,101 | +55.6% |
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 2 October 2026 via checked.be.