MAF DENTAL: 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.
MAF DENTAL
Largest movements
- Receivables within one year +€29,467
up €29,467 (+38.0%), from €77,495 to €106,962
of which Trade receivables: +€30,887
- Tangible fixed assets -€12,462
down €12,462 (-6.9%), from €179,894 to €167,433
of which Land and buildings: -€11,512
- Trade debts +€29,549
up €29,549 (+25.2%), from €117,210 to €146,759
- Debts after one year -€18,763
down €18,763 (-20.6%), from €90,959 to €72,195
- Profit (loss) carried forward +€16,823
up €16,823 (+97.2%), from €17,301 to €34,124
- Current portion of long-term debt -€12,184
down €12,184 (-39.4%), from €30,948 to €18,763
- Tax, wage and social debts +€4,548
up €4,548 (+68.4%), from €6,651 to €11,198
- Gross operating margin +€15,163
up €15,163 (+76.6%), from €19,801 to €34,964
- Depreciation +€6,797
up €6,797 (+100%), from €6,767 to €13,565
- Taxes -€5,944
down €5,944, from €3,352 to -€2,591
- Other operating charges +€3,825
up €3,825 (+199%), from €1,919 to €5,744
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 | €283,928 | €304,049 | +€20,121 | +7.1% |
| Fixed assets | 21/28 | €180,500 | €167,917 | -€12,583 | -7.0% |
| Intangible fixed assets | 21 | €606 | €484 | -€121 | -20.0% |
| Tangible fixed assets | 22/27 | €179,894 | €167,433 | -€12,462 | -6.9% |
| Land and buildings | 22 | €156,854 | €145,341 | -€11,512 | -7.3% |
| Plant, machinery and equipment | 23 | €1,125 | €1,573 | +€448 | +39.8% |
| Furniture and vehicles | 24 | €21,916 | €20,518 | -€1,398 | -6.4% |
| Current assets | 29/58 | €103,428 | €136,132 | +€32,704 | +31.6% |
| Stocks and contracts in progress | 3 | €1,785 | €1,785 | = | 0.0% |
| Stocks | 30/36 | €1,785 | €1,785 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €77,495 | €106,962 | +€29,467 | +38.0% |
| Trade receivables | 40 | €42,686 | €73,573 | +€30,887 | +72.4% |
| Other amounts receivable | 41 | €34,808 | €33,389 | -€1,419 | -4.1% |
| Cash at bank and in hand | 54/58 | €23,464 | €25,918 | +€2,455 | +10.5% |
| Deferred charges and accrued income | 490/1 | €684 | €1,467 | +€782 | +114% |
| Total equity and liabilities | 10/49 | €283,928 | €304,049 | +€20,121 | +7.1% |
| Equity | 10/15 | €37,761 | €54,584 | +€16,823 | +44.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,301 | €34,124 | +€16,823 | +97.2% |
| Amounts payable | 17/49 | €246,167 | €249,465 | +€3,299 | +1.3% |
| Amounts payable after more than one year | 17 | €90,959 | €72,195 | -€18,763 | -20.6% |
| Financial debts | 170/4 | €90,959 | €72,195 | -€18,763 | -20.6% |
| Amounts payable within one year | 42/48 | €155,208 | €177,270 | +€22,062 | +14.2% |
| Current portion of amounts payable after more than one year | 42 | €30,948 | €18,763 | -€12,184 | -39.4% |
| Trade debts | 44 | €117,210 | €146,759 | +€29,549 | +25.2% |
| Suppliers | 440/4 | €117,210 | €146,759 | +€29,549 | +25.2% |
| Taxes, remuneration and social security | 45 | €6,651 | €11,198 | +€4,548 | +68.4% |
| Taxes | 450/3 | €6,651 | €11,198 | +€4,548 | +68.4% |
| Other amounts payable | 47/48 | €400 | €549 | +€149 | +37.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,767 | €13,565 | +€6,797 | +100% |
| Other operating charges | 640/8 | €1,919 | €5,744 | +€3,825 | +199% |
| Non-recurring operating charges | 66A | €1,017 | €248 | -€769 | -75.6% |
| Gross operating margin | 9900 | €19,801 | €34,964 | +€15,163 | +76.6% |
| Operating profit (loss) | 9901 | €10,098 | €15,408 | +€5,310 | +52.6% |
| Financial income | 75/76B | €3 | €68 | +€65 | +2,069% |
| Recurring financial income | 75 | €3 | €68 | +€65 | +2,069% |
| Financial charges | 65/66B | €1,016 | €1,245 | +€228 | +22.5% |
| Recurring financial charges | 65 | €1,016 | €1,245 | +€228 | +22.5% |
| Profit (loss) for the period before taxes | 9903 | €9,085 | €14,232 | +€5,147 | +56.7% |
| Income taxes | 67/77 | €3,352 | -€2,591 | -€5,944 | |
| Profit (loss) for the period | 9904 | €5,732 | €16,823 | +€11,091 | +193% |
| Profit (loss) for the period to be appropriated | 9905 | €5,732 | €16,823 | +€11,091 | +193% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.