MABEV: 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.
MABEV
Largest movements
- Current investments +€250,749
up €250,749 (+125.0%), from €200,666 to €451,415
- Cash -€71,298
down €71,298 (-19.3%), from €368,790 to €297,491
mainly Current investments (-€250,749) and Investment in fixed assets (net) (-€66,571)
- Tangible fixed assets +€59,172
up €59,172 (+463.2%), from €12,775 to €71,947
of which Furniture and vehicles: +€34,565
- Reserves +€239,459
up €239,459 (+53.3%), from €448,936 to €688,395
- Gross operating margin +€85,737
up €85,737 (+36.0%), from €238,230 to €323,968
- Taxes +€39,621
up €39,621 (+55.2%), from €71,820 to €111,441
- Financial income +€35,479
up €35,479 (+1308.2%), from €2,712 to €38,191
- Depreciation +€4,493
up €4,493 (+154.7%), from €2,905 to €7,399
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 | €583,164 | €821,673 | +€238,509 | +40.9% |
| Fixed assets | 21/28 | €12,775 | €71,947 | +€59,172 | +463.2% |
| Tangible fixed assets | 22/27 | €12,775 | €71,947 | +€59,172 | +463.2% |
| Land and buildings | 22 | €8,384 | €9,110 | +€726 | +8.7% |
| Furniture and vehicles | 24 | €4,391 | €38,957 | +€34,565 | +787.1% |
| Other tangible fixed assets | 26 | - | €23,881 | +€23,881 | |
| Current assets | 29/58 | €570,389 | €749,726 | +€179,337 | +31.4% |
| Amounts receivable within one year | 40/41 | €167 | - | -€167 | |
| Other amounts receivable | 41 | €167 | - | -€167 | |
| Current investments | 50/53 | €200,666 | €451,415 | +€250,749 | +125.0% |
| Cash at bank and in hand | 54/58 | €368,790 | €297,491 | -€71,298 | -19.3% |
| Deferred charges and accrued income | 490/1 | €766 | €820 | +€54 | +7.0% |
| Total equity and liabilities | 10/49 | €583,164 | €821,673 | +€238,509 | +40.9% |
| Equity | 10/15 | €473,936 | €713,395 | +€239,459 | +50.5% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €448,936 | €688,395 | +€239,459 | +53.3% |
| Distributable reserves | 133 | €448,936 | €688,395 | +€239,459 | +53.3% |
| Amounts payable | 17/49 | €109,228 | €108,278 | -€950 | -0.9% |
| Amounts payable within one year | 42/48 | €109,228 | €108,278 | -€950 | -0.9% |
| Trade debts | 44 | €5,244 | €8,477 | +€3,234 | +61.7% |
| Suppliers | 440/4 | €5,244 | €8,477 | +€3,234 | +61.7% |
| Taxes, remuneration and social security | 45 | €103,984 | €99,746 | -€4,239 | -4.1% |
| Taxes | 450/3 | €103,984 | €99,746 | -€4,239 | -4.1% |
| Other amounts payable | 47/48 | - | €55 | +€55 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,905 | €7,399 | +€4,493 | +154.7% |
| Other operating charges | 640/8 | €528 | €1,299 | +€771 | +146.1% |
| Gross operating margin | 9900 | €238,230 | €323,968 | +€85,737 | +36.0% |
| Operating profit (loss) | 9901 | €234,797 | €315,270 | +€80,473 | +34.3% |
| Financial income | 75/76B | €2,712 | €38,191 | +€35,479 | +1308.2% |
| Recurring financial income | 75 | €2,712 | €38,191 | +€35,479 | +1308.2% |
| Financial charges | 65/66B | €1,885 | €2,561 | +€676 | +35.8% |
| Recurring financial charges | 65 | €1,885 | €2,561 | +€676 | +35.8% |
| Profit (loss) for the period before taxes | 9903 | €235,624 | €350,900 | +€115,276 | +48.9% |
| Income taxes | 67/77 | €71,820 | €111,441 | +€39,621 | +55.2% |
| Profit (loss) for the period | 9904 | €163,804 | €239,459 | +€75,655 | +46.2% |
| Profit (loss) for the period to be appropriated | 9905 | €163,804 | €239,459 | +€75,655 | +46.2% |
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.