MABRA: 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.
MABRA
Largest movements
- Tangible fixed assets -€33,189
down €33,189 (-4.8%), from €691,378 to €658,189
- Profit (loss) carried forward -€48,632
down €48,632 (-65.1%), from €74,666 to €26,035
- Other debts +€46,073
up €46,073 (+229.8%), from €20,052 to €66,125
- Debts after one year -€33,686
down €33,686 (-38.3%), from €87,967 to €54,281
- Gross operating margin -€49,718
down €49,718, from €46,879 to -€2,839
- Provisions -€1,613
no longer reported in 2025 (was €1,613)
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
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 | €693,817 | €660,628 | -€33,189 | -4.8% |
| Fixed assets | 21/28 | €691,378 | €658,189 | -€33,189 | -4.8% |
| Tangible fixed assets | 22/27 | €691,378 | €658,189 | -€33,189 | -4.8% |
| Land and buildings | 22 | €691,378 | €658,189 | -€33,189 | -4.8% |
| Current assets | 29/58 | €2,440 | €2,440 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,440 | €2,440 | = | 0.0% |
| Trade receivables | 40 | €440 | €440 | = | 0.0% |
| Other amounts receivable | 41 | €2,000 | €2,000 | = | 0.0% |
| Total equity and liabilities | 10/49 | €693,817 | €660,628 | -€33,189 | -4.8% |
| Equity | 10/15 | €96,666 | €48,035 | -€48,632 | -50.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €74,666 | €26,035 | -€48,632 | -65.1% |
| Amounts payable | 17/49 | €597,151 | €612,594 | +€15,443 | +2.6% |
| Amounts payable after more than one year | 17 | €87,967 | €54,281 | -€33,686 | -38.3% |
| Financial debts | 170/4 | €87,967 | €54,281 | -€33,686 | -38.3% |
| Amounts payable within one year | 42/48 | €505,763 | €556,103 | +€50,340 | +10.0% |
| Current portion of amounts payable after more than one year | 42 | €34,384 | €36,407 | +€2,023 | +5.9% |
| Financial debts | 43 | €6,808 | €10,404 | +€3,596 | +52.8% |
| Credit institutions | 430/8 | €6,808 | €10,404 | +€3,596 | +52.8% |
| Trade debts | 44 | €438,303 | €443,167 | +€4,863 | +1.1% |
| Suppliers | 440/4 | €438,303 | €443,167 | +€4,863 | +1.1% |
| Taxes, remuneration and social security | 45 | €6,215 | - | -€6,215 | |
| Taxes | 450/3 | €6,215 | - | -€6,215 | |
| Other amounts payable | 47/48 | €20,052 | €66,125 | +€46,073 | +229.8% |
| Accrued charges and deferred income | 492/3 | €3,422 | €2,210 | -€1,212 | -35.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,189 | €33,189 | = | 0.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €1,613 | - | -€1,613 | |
| Other operating charges | 640/8 | €4,657 | €4,912 | +€254 | +5.5% |
| Gross operating margin | 9900 | €46,879 | -€2,839 | -€49,718 | |
| Operating profit (loss) | 9901 | €7,419 | -€40,939 | -€48,359 | |
| Financial charges | 65/66B | €7,942 | €7,692 | -€250 | -3.1% |
| Recurring financial charges | 65 | €7,942 | €7,692 | -€250 | -3.1% |
| Profit (loss) for the period before taxes | 9903 | -€523 | -€48,632 | -€48,109 | -9204.7% |
| Profit (loss) for the period | 9904 | -€523 | -€48,632 | -€48,109 | -9204.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€523 | -€48,632 | -€48,109 | -9204.7% |
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.