MAFANEDA: 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.
MAFANEDA
Largest movements
- Tangible fixed assets -€20,110
down €20,110 (-26.3%), from €76,568 to €56,458
of which Furniture and vehicles: -€16,200
- Cash +€10,281
up €10,281 (+33.3%), from €30,863 to €41,144
mainly Depreciation (+€20,110) and Net result for the year (+€8,467)
- Deferred charges and accrued income -€1,180
down €1,180 (-56.1%), from €2,103 to €923
- Debts after one year -€16,168
down €16,168 (-37.6%), from €42,963 to €26,795
- Reserves +€8,467
up €8,467 (+25.6%), from €33,083 to €41,550
- Other debts -€7,528
down €7,528 (-38.5%), from €19,530 to €12,002
- Trade debts +€1,682
up €1,682 (+254.4%), from €661 to €2,344
- Gross operating margin +€8,167
up €8,167 (+30.3%), from €26,955 to €35,122
- Taxes +€2,582
up €2,582 (+319.6%), from €808 to €3,390
- Financial charges -€558
down €558 (-21.5%), from €2,593 to €2,035
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 | €112,201 | €100,535 | -€11,666 | -10.4% |
| Fixed assets | 21/28 | €76,568 | €56,458 | -€20,110 | -26.3% |
| Tangible fixed assets | 22/27 | €76,568 | €56,458 | -€20,110 | -26.3% |
| Plant, machinery and equipment | 23 | €8,275 | €5,667 | -€2,608 | -31.5% |
| Furniture and vehicles | 24 | €61,770 | €45,570 | -€16,200 | -26.2% |
| Other tangible fixed assets | 26 | €6,523 | €5,222 | -€1,302 | -20.0% |
| Current assets | 29/58 | €35,633 | €44,077 | +€8,443 | +23.7% |
| Amounts receivable within one year | 40/41 | €2,667 | €2,010 | -€657 | -24.6% |
| Trade receivables | 40 | €975 | €2,010 | +€1,035 | +106.1% |
| Other amounts receivable | 41 | €1,692 | €0 | -€1,692 | -100.0% |
| Cash at bank and in hand | 54/58 | €30,863 | €41,144 | +€10,281 | +33.3% |
| Deferred charges and accrued income | 490/1 | €2,103 | €923 | -€1,180 | -56.1% |
| Total equity and liabilities | 10/49 | €112,201 | €100,535 | -€11,666 | -10.4% |
| Equity | 10/15 | €33,083 | €41,550 | +€8,467 | +25.6% |
| Reserves | 13 | €33,083 | €41,550 | +€8,467 | +25.6% |
| Distributable reserves | 133 | €33,083 | €41,550 | +€8,467 | +25.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €79,118 | €58,985 | -€20,133 | -25.4% |
| Amounts payable after more than one year | 17 | €42,963 | €26,795 | -€16,168 | -37.6% |
| Financial debts | 170/4 | €42,963 | €26,795 | -€16,168 | -37.6% |
| Amounts payable within one year | 42/48 | €35,767 | €31,403 | -€4,364 | -12.2% |
| Current portion of amounts payable after more than one year | 42 | €15,576 | €16,168 | +€593 | +3.8% |
| Trade debts | 44 | €661 | €2,344 | +€1,682 | +254.4% |
| Suppliers | 440/4 | €661 | €2,344 | +€1,682 | +254.4% |
| Taxes, remuneration and social security | 45 | €0 | €890 | +€890 | |
| Taxes | 450/3 | €0 | €890 | +€890 | |
| Other amounts payable | 47/48 | €19,530 | €12,002 | -€7,528 | -38.5% |
| Accrued charges and deferred income | 492/3 | €387 | €787 | +€399 | +103.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,110 | €20,110 | = | 0.0% |
| Other operating charges | 640/8 | €1,293 | €1,124 | -€169 | -13.1% |
| Gross operating margin | 9900 | €26,955 | €35,122 | +€8,167 | +30.3% |
| Operating profit (loss) | 9901 | €5,552 | €13,888 | +€8,336 | +150.1% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €2,593 | €2,035 | -€558 | -21.5% |
| Recurring financial charges | 65 | €2,593 | €2,035 | -€558 | -21.5% |
| Profit (loss) for the period before taxes | 9903 | €2,959 | €11,856 | +€8,898 | +300.7% |
| Income taxes | 67/77 | €808 | €3,390 | +€2,582 | +319.6% |
| Profit (loss) for the period | 9904 | €2,151 | €8,467 | +€6,316 | +293.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,151 | €8,467 | +€6,316 | +293.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.