MABUMAX: 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.
MABUMAX
Largest movements
- Cash +€91,247
up €91,247 (+174%), from €52,318 to €143,565
mainly Net result for the year (+€207,143) and Depreciation (+€102,131)
- Receivables within one year +€88,628
up €88,628 (+71.4%), from €124,131 to €212,759
of which Trade receivables: +€90,817
- Tangible fixed assets -€51,061
down €51,061 (-8.5%), from €599,353 to €548,292
of which Leasing and similar rights: -€32,476
- Receivables after one year +€13,237
new in 2025: €13,237
- Reserves +€107,143
up €107,143 (+68.9%), from €155,616 to €262,759
- Debts after one year -€54,059
down €54,059 (-13.8%), from €392,140 to €338,081
of which Financial debts: -€54,059
- Tax, wage and social debts +€40,629
up €40,629 (+234%), from €17,384 to €58,013
of which Remuneration and social security: +€21,917
- Trade debts +€28,255
up €28,255 (+168%), from €16,806 to €45,060
- Other debts +€16,037
up €16,037 (+11.0%), from €146,075 to €162,112
- Gross operating margin +€208,648
up €208,648 (+44.3%), from €470,495 to €679,142
- Staff costs +€91,335
up €91,335 (+45.4%), from €200,976 to €292,311
- Taxes +€21,774
up €21,774 (+113%), from €19,224 to €40,998
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
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 | €797,426 | €940,663 | +€143,237 | +18.0% |
| Fixed assets | 21/28 | €607,388 | €556,322 | -€51,067 | -8.4% |
| Intangible fixed assets | 21 | €1,509 | €1,005 | -€503 | -33.4% |
| Tangible fixed assets | 22/27 | €599,353 | €548,292 | -€51,061 | -8.5% |
| Land and buildings | 22 | €400,135 | €385,116 | -€15,019 | -3.8% |
| Plant, machinery and equipment | 23 | €19,357 | €19,753 | +€396 | +2.0% |
| Furniture and vehicles | 24 | €85,720 | €81,757 | -€3,962 | -4.6% |
| Leasing and similar rights | 25 | €94,141 | €61,665 | -€32,476 | -34.5% |
| Financial fixed assets | 28 | €6,526 | €7,024 | +€498 | +7.6% |
| Current assets | 29/58 | €190,038 | €384,341 | +€194,304 | +102% |
| Amounts receivable after more than one year | 29 | - | €13,237 | +€13,237 | |
| Other amounts receivable | 291 | - | €13,237 | +€13,237 | |
| Amounts receivable within one year | 40/41 | €124,131 | €212,759 | +€88,628 | +71.4% |
| Trade receivables | 40 | €121,181 | €211,998 | +€90,817 | +74.9% |
| Other amounts receivable | 41 | €2,950 | €761 | -€2,189 | -74.2% |
| Cash at bank and in hand | 54/58 | €52,318 | €143,565 | +€91,247 | +174% |
| Deferred charges and accrued income | 490/1 | €13,589 | €14,780 | +€1,191 | +8.8% |
| Total equity and liabilities | 10/49 | €797,426 | €940,663 | +€143,237 | +18.0% |
| Equity | 10/15 | €170,490 | €277,633 | +€107,143 | +62.8% |
| Contributions | 10/11 | €14,874 | €14,874 | = | 0.0% |
| Reserves | 13 | €155,616 | €262,759 | +€107,143 | +68.9% |
| Distributable reserves | 133 | €155,616 | €262,759 | +€107,143 | +68.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €626,936 | €663,030 | +€36,094 | +5.8% |
| Amounts payable after more than one year | 17 | €392,140 | €338,081 | -€54,059 | -13.8% |
| Financial debts | 170/4 | €389,056 | €334,997 | -€54,059 | -13.9% |
| Other amounts payable | 178/9 | €3,084 | €3,084 | = | 0.0% |
| Amounts payable within one year | 42/48 | €231,322 | €317,634 | +€86,312 | +37.3% |
| Current portion of amounts payable after more than one year | 42 | €51,058 | €52,449 | +€1,392 | +2.7% |
| Trade debts | 44 | €16,806 | €45,060 | +€28,255 | +168% |
| Suppliers | 440/4 | €16,806 | €45,060 | +€28,255 | +168% |
| Taxes, remuneration and social security | 45 | €17,384 | €58,013 | +€40,629 | +234% |
| Taxes | 450/3 | €8,003 | €26,715 | +€18,712 | +234% |
| Remuneration and social security | 454/9 | €9,381 | €31,298 | +€21,917 | +234% |
| Other amounts payable | 47/48 | €146,075 | €162,112 | +€16,037 | +11.0% |
| Accrued charges and deferred income | 492/3 | €3,473 | €7,314 | +€3,841 | +111% |
| Non-recurring operating income | 76A | €413 | €6,860 | +€6,446 | +1,560% |
| Remuneration, social security and pensions | 62 | €200,976 | €292,311 | +€91,335 | +45.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €100,045 | €102,131 | +€2,086 | +2.1% |
| Other operating charges | 640/8 | €10,216 | €11,174 | +€957 | +9.4% |
| Gross operating margin | 9900 | €470,495 | €679,142 | +€208,648 | +44.3% |
| Operating profit (loss) | 9901 | €159,257 | €273,527 | +€114,269 | +71.8% |
| Financial income | 75/76B | €3,584 | €3,134 | -€449 | -12.5% |
| Recurring financial income | 75 | €3,584 | €3,134 | -€449 | -12.5% |
| Financial charges | 65/66B | €23,720 | €28,519 | +€4,799 | +20.2% |
| Recurring financial charges | 65 | €23,720 | €28,519 | +€4,799 | +20.2% |
| Profit (loss) for the period before taxes | 9903 | €139,121 | €248,142 | +€109,021 | +78.4% |
| Income taxes | 67/77 | €19,224 | €40,998 | +€21,774 | +113% |
| Profit (loss) for the period | 9904 | €119,896 | €207,143 | +€87,247 | +72.8% |
| Profit (loss) for the period to be appropriated | 9905 | €119,896 | €207,143 | +€87,247 | +72.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.