MABO: 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.
MABO
Largest movements
- Tangible fixed assets -€39,506
down €39,506 (-7.0%), from €566,480 to €526,974
of which Land and buildings: -€30,000
- Cash -€9,044
down €9,044 (-24.6%), from €36,702 to €27,658
mainly Contributions, distributions and other (-€90,854) and Investment in fixed assets (net) (-€25,504)
- Reserves -€43,595
down €43,595 (-14.3%), from €304,648 to €261,052
of which Distributable reserves: -€43,595
- Tax, wage and social debts +€13,905
up €13,905 (+18.7%), from €74,203 to €88,108
- Debts after one year -€9,389
down €9,389 (-3.4%), from €274,638 to €265,249
- Gross operating margin -€31,242
down €31,242 (-17.8%), from €175,389 to €144,148
- Taxes -€10,240
down €10,240 (-30.0%), from €34,135 to €23,895
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 | €800,695 | €760,490 | -€40,205 | -5.0% |
| Fixed assets | 21/28 | €566,480 | €526,974 | -€39,506 | -7.0% |
| Tangible fixed assets | 22/27 | €566,480 | €526,974 | -€39,506 | -7.0% |
| Land and buildings | 22 | €360,000 | €330,000 | -€30,000 | -8.3% |
| Plant, machinery and equipment | 23 | €185,446 | €181,936 | -€3,510 | -1.9% |
| Furniture and vehicles | 24 | €21,034 | €15,038 | -€5,996 | -28.5% |
| Current assets | 29/58 | €234,215 | €233,516 | -€700 | -0.3% |
| Amounts receivable after more than one year | 29 | €155,000 | €155,000 | = | 0.0% |
| Other amounts receivable | 291 | €155,000 | €155,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €33,377 | €36,501 | +€3,124 | +9.4% |
| Trade receivables | 40 | €3,377 | €5,266 | +€1,889 | +55.9% |
| Other amounts receivable | 41 | €30,000 | €31,235 | +€1,235 | +4.1% |
| Cash at bank and in hand | 54/58 | €36,702 | €27,658 | -€9,044 | -24.6% |
| Deferred charges and accrued income | 490/1 | €9,136 | €14,357 | +€5,220 | +57.1% |
| Total equity and liabilities | 10/49 | €800,695 | €760,490 | -€40,205 | -5.0% |
| Equity | 10/15 | €339,648 | €296,052 | -€43,595 | -12.8% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Reserves | 13 | €304,648 | €261,052 | -€43,595 | -14.3% |
| Tax-exempt reserves | 132 | €7,335 | €7,335 | = | 0.0% |
| Distributable reserves | 133 | €297,312 | €253,717 | -€43,595 | -14.7% |
| Amounts payable | 17/49 | €461,048 | €464,438 | +€3,390 | +0.7% |
| Amounts payable after more than one year | 17 | €274,638 | €265,249 | -€9,389 | -3.4% |
| Financial debts | 170/4 | €274,638 | €265,249 | -€9,389 | -3.4% |
| Amounts payable within one year | 42/48 | €186,410 | €196,489 | +€10,079 | +5.4% |
| Current portion of amounts payable after more than one year | 42 | €58,209 | €55,782 | -€2,426 | -4.2% |
| Financial debts | 43 | €174 | €228 | +€54 | +31.0% |
| Credit institutions | 430/8 | €174 | €228 | +€54 | +31.0% |
| Trade debts | 44 | €14,404 | €18,233 | +€3,828 | +26.6% |
| Suppliers | 440/4 | €14,404 | €18,233 | +€3,828 | +26.6% |
| Taxes, remuneration and social security | 45 | €74,203 | €88,108 | +€13,905 | +18.7% |
| Taxes | 450/3 | €74,203 | €88,108 | +€13,905 | +18.7% |
| Other amounts payable | 47/48 | €39,420 | €34,138 | -€5,282 | -13.4% |
| Accrued charges and deferred income | 492/3 | - | €2,700 | +€2,700 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,454 | €65,010 | +€1,556 | +2.5% |
| Other operating charges | 640/8 | €5,711 | €4,176 | -€1,534 | -26.9% |
| Gross operating margin | 9900 | €175,389 | €144,148 | -€31,242 | -17.8% |
| Operating profit (loss) | 9901 | €106,225 | €74,961 | -€31,264 | -29.4% |
| Financial income | 75/76B | €4,129 | €4,151 | +€21 | +0.5% |
| Recurring financial income | 75 | €4,129 | €4,151 | +€21 | +0.5% |
| Financial charges | 65/66B | €8,185 | €7,958 | -€227 | -2.8% |
| Recurring financial charges | 65 | €8,185 | €7,958 | -€227 | -2.8% |
| Profit (loss) for the period before taxes | 9903 | €102,169 | €71,154 | -€31,015 | -30.4% |
| Income taxes | 67/77 | €34,135 | €23,895 | -€10,240 | -30.0% |
| Profit (loss) for the period | 9904 | €68,034 | €47,259 | -€20,775 | -30.5% |
| Profit (loss) for the period to be appropriated | 9905 | €68,034 | €47,259 | -€20,775 | -30.5% |
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 3 October 2026 via checked.be.